France $3.39 Bn Diabetes Markets to 2028: Insulin Pump, CGM, Self-Monitoring Blood Device and Company Analysis

DUBLIN, July 6, 2023 /PRNewswire/ -- The "France Diabetes Market, Size, Forecast 2023-2028, By Insulin Pump, CGM, Self-Monitoring Blood Device and Company Analysis" report has been added to  ResearchAndMarkets.com's offering.

France Diabetes Market will reach US$ 3.39 Billion in 2028 and expand at a CAGR of 2.75% from 2023 to 2028

In recent years, France has witnessed an alarming increase in the prevalence of diabetes. Diabetes has the highest prevalence among all chronic conditions. France's statutory health insurance (SHI) covers 100% of it, and the number of covered patients has doubled in the past ten years.

Nearly a million are diagnosed with diabetes in France, according to the World Health Organisation (WHO). The prevalence of diabetes is increasing among all ages in France, attributing to the growing obese population, unhealthy diets, and sedentary lifestyles. According to the publisher, the France Diabetes Market was at US$ 2.88 Billion in 2022.

Type 2 Diabetes is expected to Grow Year on Year

According to a survey by the EU Commission, the number of persons in France who have chronic diabetes is the greatest, and one in 10 people in France has diabetes.

Furthermore, the prevalence of diabetes is growing among all ages in France, attributing to the growing obese population, unhealthy diets, and sedentary lifestyles. Type 2 diabetes commonly referred to as non-insulin-dependent diabetes or adult-onset diabetes, is a condition where the body uses insulin inefficiently.

Type 2 diabetes affects more than 90% of those who have the disease. Excessive weight and not exercising are the leading causes of type 2 diabetes. The dramatic increase in the number of type 2 diabetics is primarily a result of the nation's rising obesity rates and unhealthy lifestyles characterized by bad meals and little physical activity.

Type 1 diabetes is a leading serious long-term complications. Rising prevalence of obesity and the adoption of an unhealthy lifestyle are the major contributors to the growth of Type 1 diabetes in France.

SBMG Devices will dominate the Market Share

The France Diabetes Market is segmented into SBMG, CGM, and Insulin Pumps. There is an increasing demand for diabetes monitoring devices due to favourable reimbursement policies, a large population of patients with insulin-dependent diabetes, and the introduction of new products by industry players.

SMBG is considered an essential element of daily diabetes management. Self-monitoring of blood sugar is a technique wherein individuals measure their blood sugar levels with the help of a glucose meter. It is sub-segmented into blood glucose meters, testing strips, and lancets.

The testing strips segment made up the largest revenue share due to the high usage of these strips and their affordability. Therefore, these features will lead to the expansion at a lucrative CAGR over the upcoming period. The presence of organizations, such as the Primary Care Diabetes Society, in the country, increases awareness about the disease and encourages using SBMG devices.

For instance, in September 2021, Biocorp, a France-based manufacturer of medical devices, including blood glucose monitoring, partnered with Novo Nordisk. The partnership among the companies is for the development and distribution of a Mallya smart add-on device for the FlexTouch pen set by Novo Nordisk for people with diabetes.

Moreover, the introduction of cutting-edge technology, such as CGM systems by market players, has made real-time monitoring possible for patients with Type-2 diabetes or insulin-dependent patients. Additionally, CGM systems have several advantages over other devices, offering real-time tracking, being less invasive, and providing quick and accurate data.

As a result, these distinctive benefits contribute immensely to increasing the patients' and healthcare professionals' understanding of CGM and its devices. For instance, according to the data statistics provided by Abbott, the number of FreeStyleLibre users increased from 3 million in 2020 to 4 million in 2021. As a result, the increased use of continuous glucose monitoring devices in various sectors will stimulate growth over the forecasted time frame.

French Government takes Initiatives to Manage Diabetes

In France, insurance plans reduce the burden on the diabetic population. However, different policies exist for type 1 and type 2 diabetes populations. For instance, the France insurance covers for Type 2 diabetes population up to 200-400 test strips in a year and for Type 1 diabetes population, it covers approx. 3,000 test strips in a year.The French Government has recognized the critical role of the patient in managing chronic diseases such as diabetes.

As a result, France's largest health insurance fund developed a patient support program, 'Sophia,' to provide free information and educational tools to diabetes patients covered by the ALD program. The project, which began as a pilot in 2008 and was expanded nationwide in early 2013, has provided services to 226,000 patients (12.5% of the eligible population). Participation is voluntary, and the services offered include telephone advice by specially-trained nurses and Internet-based support to ensure regular contact with patients.

Key Players:

The France Diabetes Market is amalgamated with major manufacturers, namely, 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.

In March 2022, Eli Lilly and Boehringer Ingelheim gained acceptance for heart failure treatment from the EU for sodium-glucose co-transporter-2-inhibitor (SGLT2-I) and Jardiance (empagliflozin).

In February 2022, Bayer got marketing permission from the European Union (EU) for Kerendia (finerenone) to treat the loss of kidney function, or chronic kidney disease, in adults having type 2 diabetes. It also focuses on reducing the risk of kidney failure, heart attack, and death due to heart conditions.

Company Analysis: Company Overview, Recent Developments, Financial Insight

• Medtronic
• Insulet Corporation
• Abbott Laboratories
• LifeScan Inc.
• Dexcom, Inc
• Roche Diagnostic

Segments Market based on Devices

• Continuous Glucose Monitoring (CGM)
• Self-Monitoring Blood Glucose (SMBG)
• Insulin Pump

France Diabetes Sub-Segment Analysis

Continuous Glucose Monitoring (CGM)

• Glucose Sensor Market & Forecast
• CGM Transmitter Market & Forecast
• CGM User
• CGM Reimbursement

SMBG

• Test Strips Market and Forecast
• Lancet Market and Forecast
• Meter Market and Forecast
• Blood Glucose (SMBG) Users
• Blood Glucose Devices Reimbursement

Insulin Pump Market

• Insulin Pump Market
• Insulin Pump Users
• Insulin Pump Products
• Reimbursement Policies

For more information about this report visit https://www.researchandmarkets.com/r/wd6da3

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