Sweden Diabetes Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Sweden Diabetes Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Sweden's Diabetes Market will reach US$ 1.86 Billion in 2028 and expand at a CAGR of 4.26% from 2023 to 2028, according to Renub Research. Diabetes is obtaining epidemic proportions, and digital health companies are fighting back with innovative solutions. According to World Diabetes Organization, diabetes presently affects 59.8 million individuals in Europe, which will rise to 73.8 million by 2040. Diabetes is currently one of the most critical emergencies in global health and shows an increasing prevalence in Sweden. The healthcare system of Sweden has taken a heavy toll due to diabetes, which could be due to the associated direct costs required for medical management. Nowadays, caring for people with Type 2 diabetes has expanded from including only GPs to involving RNs in the main workforce. In Sweden, PHCCs have diabetes-responsible GPs and RNs available in-house who have the overall responsibility for the care and treatment of people with T2DM. According to Renub Research, the Sweden Market was US$ 1.45 Billion in 2022.

Type 2 diabetes is a heterogeneous disease in Sweden

Diabetes mellitus is recognized as an epidemic. The prevalence of type 2 diabetes is increasing dramatically in Sweden, with projections of even higher growth over the coming decades. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic drugs. At any age, increasing weight raises the risk of type 2 diabetes. In people who are obese, type 2 diabetes is three to ten times more common than it is in people of average weight. Moreover, over the past decades, childhood-onset type 1 diabetes has been reported to be increasing in Sweden.

Insulin Pen will grow at a High Rate and Capturing the Highest Market Share in the Coming Years

The Sweden Diabetes Market by the device is segmented into; SMBG, CGM, Insulin Pumps, and Insulin Pens. Insulin cartridges in reusable pens are an upgraded version of insulin vials. Significant types of insulin are manufactured in the form of cartridges, which makes them easily attainable. These devices have all the functional advantages of reusable pens and are economical, as these cartridges are less costly than disposable insulin pens in the long run. Due to the rising demand for insulin cartridges, most insulin device manufacturers have produced reusable insulin pens compatible with various manufacturers' cartridges. These insulin cartridges are more consumer-friendly, as they are smaller and less observable than the classic vial-and-syringe. These devices are also more portable for consumers on the go.

Moreover, the SMBG segment also holds a significant market share. Driving factors that help to reach this market are the increasing diabetic population in Sweden, Governments, and NGOs' efforts to increase awareness, increasing per capita healthcare expenditure, and availability of reimbursements.

Key Players:

The major players competing in the Sweden Diabetes Market are 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 May 2021, Medtronic announced the CE Mark for expanded functionality of the company's In Pen smart insulin pen for multiple daily injections (MDI).
In May 2021, Medtronic secured European approvals for its Guardian 4 sensor. The Guardian 4 sensor can be either utilized as a standalone continuous glucose monitor or combined into Medtronic's insulin pumps and pens to add real-time glucose monitoring alongside insulin tracking.

Renub Research report titled “Sweden Diabetes Market & Forecast, By Continuous Glucose Monitoring (CGM Market by Components, Glucose Sensor, Transmitter, CGM User, Reimbursement), Self-Monitoring Blood Glucose (SMBG Market by, Test Strips, Lancet, Meter, Blood Glucose Device Users & Reimbursement), Insulin Pen (User, Types – Disposable, Reusable and Smart Insulin Pen, Insulin Pen Needle Market, Reimbursement Policies), Insulin Pump (Users, Market & Differentiation Points of Insulin Pump Products, Training Model for Patients & HCP, Reimbursement Policies), Company (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 Sweden Diabetes Industry.

Segments Market based on Devices

1. Continuous Glucose Monitoring (CGM)
2. Self-Monitoring Blood Glucose (SMBG)
3. Insulin Pen
4. Insulin Pump

Sweden Diabetes Sub-Segment Analysis

1. Continuous Glucose Monitoring (CGM)

1. Glucose Sensor Market & Forecast
2. CGM Transmitter Market & Forecast
3. CGM User
4. CGM Reimbursement

2. SMBG

1. Test Strips Market and Forecast
2. Lancet Market and Forecast
3. Meter Market and Forecast
4. Blood Glucose (SMBG) Users
5. Blood Glucose Devices Reimbursement

3. Insulin Pen Market

1. Disposable Insulin Pen
2. Reusable Insulin Pen
3. Smart Insulin Pen
4. Insulin Pen Needle Market
5. Insulin Pen Users
6. Reimbursement Policies

4. Insulin Pump Market

1. Insulin Pump Market
2. Insulin Pump Users
3. Insulin Pump Products
4. Reimbursement Policies

All the 13 Companies Studied in the Report have been Studied from 3 Points

• Company Overview
• Recent Developments
• Financial Insight

Company Analysis

1. B. Braun Melsungen AG
2. Eli Lilly and Company
3. Terumo Corporation
4. Becton, Dickinson (BD)
5. Novo Nardisk
6. Ypsomed AG
7. Medtronic
8. InsuletCororation
9. Abbott Laboratories
10. DarioHealth Crop
11. Dexcom, Inc
12. Roche Diagnostic
13. Tandem Diabetes Care