Report Overview
The Denmark portable glucose monitor market is projected to grow at a CAGR of 2.71% between 2025 to 2030.
A glucose monitor is a small, portable machine that is used to measure the amount of glucose present in the blood. People with diabetes often use a blood glucose meter to help them manage their condition. According to the International Diabetes Federation, 2020, 8.8% of the total adult population in Denmark possess diabetes, which makes the total number of diabetic patients in the country 372,000, the percentage is further expected to increase during the forecast period. The changing lifestyles patterns have led to an increase in the number of diabetic patients in Denmark which will fuel the growth of this market over the forecast period. In addition, due to the unhealthy eating habits of Denmark citizens, obesity has become a rapidly increasing problem in the country. According to the World Health Organization, 2019, an estimated 10 –13% of the Denmark population is overweight, which corresponds to at least 400,000 individuals. Further, there is a dramatic increase in the number of overweight children and adolescents in the country. The increasing incidence of being an overweight and obese population will further spike the number of diabetic patients, subsequently increasing the demand for portable glucose monitors in the Denmark market. Also, the portable glucose monitors make it easier to keep a check on blood glucose levels which is vital for proper diagnosis and treatment of diabetes. The monitor is a near-patient device that allows the immediate detection of glucose levels in the body of a patient and facilitates rapid treatment solutions if the need arises. Furthermore, the continuous innovations are increasing the portability, efficiency, and reliability of these monitors which is anticipated to increase their demand over the projected period.
By type, the wearable segment is estimated to hold a dominant market share owing to the portability and convenience associated with it. By end-user, the home-care segment is projected to grow at the highest CAGR due to the increasing incidence of diabetes in Denmark citizens and the portable properties of the glucose monitor.
Growth Factors
- Rising incidence of diabetic patients
The constant rise in the number of diabetic patients in Denmark is expected to contribute majorly towards the market growth of the portable glucose monitor market during the next few years as the portable glucose monitor helps to monitor the glucose levels in the blood of diabetic patients. According to the International Diabetes Federation, 1 in 5 people who are above 65 years old has diabetes. The geriatric population in Denmark has been on an increase which enhances the risk of diabetes in the population aged above 65 years. According to UNECE, almost 19% of the total population are 65 years or older which will increase to around 25% by 20240. The surge in the geriatric population will in turn accelerate the number of diabetic patients in the country which will increase the demand and adoption of portable glucose monitors in the market in the long run.
Restraints
- Unfavorable reimbursement policies
The major restraint for the portable glucose monitor market in Denmark is the unfavorable reimbursement policies associated with it. Many medical claim providers and medical insurance companies located in Denmark do not reimburse the diagnosis and treatment of diabetes, which makes patients apprehensive about going forward with the treatment as it is a costly affair. The unfavorable reimbursement policies may hamper the market growth as if the patients are unable to claim the expenses, they will try to avoid the diagnosis and treatment which in turn will restrict the market growth during the forecast period.
Impact of COVID–19
The Covid-19 pandemic moderately impacted the Denmark portable glucose monitor market as due to the countrywide lockdown restrictions, many patients deferred their ongoing treatments and postponed their diagnosis to avoid public places which hampered the market growth. However, the diabetic patients who regularly use portable glucose monitors as a part of their treatment balanced the market growth during the novel pandemic.
Competitive Insights
The market leaders for the Denmark Portable Glucose Monitor Market include Dexcom, Inc., Roche Diabetes Care, Inc., GlucoMe, Ltd., Novo Nordisk A/S, Sanofi S.A., and Medtronic, PLC. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors.
Segmentation:
- By Product
- Invasive
- Non-Invasive
- By Type
- Wearable
- Non-Wearable
- By End-User
- Hospitals
- Home Care