According to Renub Research latest report titled, ” United Kingdom Diabetes Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” United Kingdom Diabetes Market Size was US$ 5.49 Billion in 2022. The United Kingdom holds one of the largest healthcare industries in the world. Diabetes is a significant problem in the U.K., and an extensive healthcare and treatment industry has built up around it. Increasing instances of diabetes among the population are actively facilitating the market growth. Rising concern among the population regarding diabetes’ ill effects and anticipated risks toward other infectious diseases, majorly among the geriatric population who are highly susceptible to both type 1 and type 2 diabete, would aid the growth of the United Kingdom market in the forecast period.
The British Diabetic Association reports that the number of persons in the U.K. who have been diagnosed with diabetes has increased by more than 150,000 since the year 2020. In the U.K., an estimated 13.6 million people are at an elevated risk of developing type 2 diabete. By 2030, there will be 5.5 million persons with diabetes worldwide, not counting those who have never been diagnosed.
Type 2 Diabetes is Increasing Year on Year
Type 2 diabetes is a severe and potentially lifelong condition that affects approximately 90% of people with diabetes in the U.K. Elevated blood sugar levels associated with this ailment can result in severe damage to different body parts, including the eyes, heart, and feet. Type 1 diabetes, on the other hand, accounts for around 8% of people with diabetes, while rarer types of diabetes make up approximately 2%. A charity has cautioned that up to 1 in 14 adults in the U.K. could develop diabetes by 2030 unless the government invests significantly in prevention services. The primary factor contributing to the revenue generation of the type 2 diabetes industry is the surging obesity epidemic. In addition, the increasing requirement for diabetes drugs among adults propels the expansion of type 2 Diabetes.
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Over the Forecast Period, Insulin Pumps are anticipated to Experience the Highest Growth Rate
The diabetes market in the United Kingdom is categorized into several segments, including self-monitoring blood glucose devices, continuous glucose monitoring (CGM) devices, insulin pens, and insulin pumps. Due to the rise in diabetic patients and their cost-effectiveness compared to insulin pumps, there has been a significant increase in demand for insulin pens in the smart insulin pens market forecast.
Additionally, their ease of use and precise insulin dosing capabilities further contribute to their popularity. The smart insulin pens market forecast has experienced a significant surge in demand for insulin pens due to the growing number of diabetic patients and their cost-effectiveness compared to insulin pumps. Furthermore, their popularity is further enhanced by their ease of use and ability to provide accurate insulin dosing.
The demand for portable insulin delivery devices among the diabetic population has led to the growth and development of small insulin pumps and computerized devices programmed to administer pre-determined insulin doses. The market for these pumps has witnessed significant expansion in recent years, driven by the rising prevalence of diabetes, particularly type 1 diabetes. Additionally, integrating smart technologies, such as Artificial Intelligence (A.I.) and Machine Learning (ML), in advanced pumps developed by leading medical device manufacturers has emerged as a key growth driver for this market.
Government Initiatives
The National Service Framework (NSF) program has been instrumental in improving service quality and addressing variations in care by setting national standards. In addition, the Association of British HealthTech Industries (ABHI) has launched a diabetes section, which brings together diabetes technology companies in a unique forum. This group includes companies involved in diabetes care technology, such as CGM, insulin pumps, and apps.
Continuous subcutaneous insulin infusion (CSII or insulin pumps) and glucose monitoring systems (CGMs) have significantly enhanced patient care and quality of life, especially in outpatient settings. Their use is increasing in hospitals. The COVID-19 pandemic has the necessity of glycemic control in diabetic individuals because uncontrolled diabetes raises the risk of hospitalization and viral illness-related death.
Key Players Analysis
Competing in the United Kingdom market are several major players, including B. Braun Melsungen AG, Eli Lilly, and Company, Terumo Corporation, Becton, Dickenson (B.D.), Novo Nordisk A/S, Ypsomed AG, Medtronic, Insulet Corporation, Abbott Laboratories, DarioHealth Corp., Dexcom Inc., Roche Diagnostic, and Tandem Diabetes Care.
- In April 2022, Abbott, CamDiab, and Ypsomed announced a partnership to develop and market an integrated automated insulin delivery (AID) system. This smart wearable solution continuously monitors glucose levels and delivers the appropriate amount of insulin at the right time, eliminating the need for manual insulin dosing. The partnership’s initial focus is on European countries.
- ARKRAY, the developer of the world’s first HLPC HbA1c clinical analyzer, launched its brand in the U.K. and Europe in November 2021. The company’s diabetes testing systems are being marketed and supported directly to customers rather than through a distributor.
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Market Summary
Device – We have covered by device in the United Kingdom Diabetes Market breakup by 4 viewpoints (SMBG, CGM, Insulin Pen and Insulin Pump) All the key players have been covered from 3 Viewpoints (Overview, Recent Development, and Revenue Analysis) (B. Braun Melsungen AG, Eli Lilly and Company, Terumo Corporation, Becton, Dickenson (BD), Novo Nordisk A/S, Ypsomed AG, Medtronic, Insulet Corporation, Abbott Laboratories, DarioHealth Corp., Dexcom Inc., Roche Diagnostic, and Tandem Diabetes Care).
- By Continuous Glucose Monitoring (CGM Market by Components, Glucose Sensor, Transmitter, CGM User, Reimbursement)
- Self-Monitoring Blood Glucose Device Analysis (SMBG Market by, Test Strips, Lancet, Meter, Blood Glucose Device Users & Reimbursement)
- Insulin Pen Analysis – (User, Types – Disposable, Reusable and Smart Insulin Pen, Insulin Pen Needle Market, Reimbursement Policies),
- Insulin Pump Analysis – (Users, Market & Differentiation Points of Insulin Pump Products, Training Model for Patients & HCP, Reimbursement Policies)
- Companies (B. Braun Melsungen AG, Eli Lilly and Company, Terumo Corporation, Becton, Dickinson (BD), Novo Nardisk, Ypsomed AG, Medtronic, InsuletCorporation, Abbott Laboratories, DarioHealth Crop, Dexcom, Inc, Roche Diagnostic, Tandem Diabetes Care)” provides a complete analysis of United Kingdom Diabetes Industry.
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