There are two segments in the Italy diabetes care device market: Management Devices (Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, and Jet Injectors) and Monitoring Devices (Self-monitoring Blood Glucose Monitoring and Continuous Glucose Monitoring). For each segment, the report provides a value in USD million.
Market analysis of diabetes care devices in Italy
Between 2022 and 2027, the diabetes care devices market in Italy is expected to reach USD 1.2 billion, registering a CAGR of more than 7%.
COVID-19 isn’t just deadly, it’s also fast-spreading. Since its creation in 2015, more than 167 million people have been affected around the world. And Italy is one of the countries with the most people affected. There are many causes that may link COVID-19 to early death for individuals, like people having two or more chronic diseases in the same individual. Research has confirmed that chronic illnesses like diabetes are associated with adverse outcomes in COVID-19 patients.
With Italy’s COVID-19 pandemic, there were opportunities for continuing and expanding innovations in the delivery of diabetes care. Virtual consultations with healthcare professionals and people with diabetes, as well as the use of diabetes technology drove many in the industry to experience their highest level of interest ever. The crisis also removed regulatory barriers to remote care, which led to significant growth in the diabetes care device market.
The rates of newly diagnosed Type 1 and Type 2 diabetes cases are on the rise. Obesity, unhealthy diet, and physical inactivity lead to this increase. With incidents of diabetes increasing, so are healthcare costs. The World Health Assembly agreed on a Resolution to strengthen the prevention and control of diabetes in May 2021. Assessing the feasibility and potential value of establishing a web-based tool to share information relevant to the transparency of markets for diabetic medicines and health products.
Matt Schmidt with Diabetes 365 notes “with increase access to diabetes related technology many people can control their condition better. By showing better control of your diabetes, the lower life insurance for type 1 diabetes premiums will be.”
In light of the aforementioned factors, it is anticipated that the studied market will grow over the analysis period.
Report Scope
Management Devices (Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, and Jet Injectors) and Monitoring Devices (Self-monitoring Blood Glucose and Continuous Glucose Monitoring) make up the Italy diabetes care devices market. These segments are valued (in USD million) in the report
Diabetes Care Devices Market Trends in Italy
According to our research experts, the following are the major market trends shaping the Italy Diabetes Care Devices Market:
Over the forecast period, the Continuous Glucose Monitoring segment is expected to witness a healthy growth rate
With a CAGR of more than 12% during the forecast period, the Continuous Glucose Monitoring Segment is expected to reach more than USD 455 million in revenue in 2021.
In continuous glucose monitoring sensors, glucose oxidase is used to detect blood sugar levels. Glucose oxidase converts glucose into hydrogen peroxidase, which reacts with platinum inside the sensor to generate an electrical signal. Continuous glucose monitoring devices are primarily powered by sensors, which are expected to grow during the forecast period as technological advancements improve the sensors’ accuracy.
Insulin levels in a typical diabetic patient with Type-1 diabetes are controlled in the range of 80 to 130. However, Type-1 diabetics with poorly controlled blood glucose levels could be at an increased risk for hospitalization or death because most observational studies have reported that poorly controlled diabetes has been associated with a higher risk for viral illness. The frequency of monitoring glucose levels depends on the type of diabetics and ranges from patient to patient.
The Italian National Healthcare Service (NHS) is ensuring universal coverage for all citizens, with no out-of-pocket expenditure. People living with diabetes have access to all the medicines, devices, and medical services they need. Overall, Italy has a well-developed system of diabetes care throughout the country. The National Diabetes Plan defines priorities in order to improve the quality of diabetes care with a patient-centered focus.
Continuous glucose monitoring devices are now cheaper, and these technologies can help you monitor your blood sugar levels in diabetes better. These devices display trends, which help you assess the effectiveness of your diabetes treatment and more easily come up with innovative online apps like hypo/hyperglycemia alert systems and self-controlled artificial pancreas algorithms.
During the forecast period, the segment growth will be driven by increased diabetic prevalence in Italy as well as the factors mentioned above.
In 2021, Insulin Disposable Pens dominated the Management Devices segment
In 2021, insulin disposable pens held the highest market share of 54% in the management devices segment.
Many insulin pen products are portable and easy to use. They are also easier to manage because they are prefilled, with either one or multiple doses of insulin, depending on what’s commonly needed. Insulin pens often contain a color-coded syringe, making it easier to know which product and how many units of insulin will be received from them. Some smart insulin pens are smartphone compatible and on-demand blood sugar monitoring devices.
As disposable pens increase in use, the great pandemic has also stimulated their growth in Italy. One reason that’s led to the development of a digital health market is the increase in number of people with diabetes each year. This market also developed due to Italian law regulating the clinical care of people with diabetes. The National Health Insurance Program (Determine Nazionale Della Sanità- INHS) is structured in “essential levels of assistance,” which can be defined differently in each region – a model that’s more flexible for those who require crucial medical assistance. All insulin pens are free for diabetic patients in Italy, but they must still adhere to a nominal set of emergency medical assistance guidelines that remain free of charge.
Market growth for insulin devices is accelerating. There have, in fact, been several technological innovations that have led to the development of new types of devices that are more comfortable for patients than their traditional counterparts. In the Italian market, these products have gained popularity due to such advantages.
Competitive Analysis of the Italian Diabetes Care Devices Market
Roche, Abbott, Novo Nordisk, Dexcom, and Medtronic are among the leading companies in the Italian diabetes care devices market. The major companies are partnering with each other to develop new technologies in diabetes care devices, which is likely to drive the market in the future. Insulin delivery device manufacturers are investing a great deal of money into research and development.