Diabetes Care Devices - Belgium | Statista Market Forecast

In Belgium, the revenue in the Diabetes Care Devices market market is projected to reach US$175.90m in 2024.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 11.33%, which will lead to a market volume of US$300.70m by 2029.
In a global context, the majority of revenue will be generated the United States, where it is expected to amount to US$11.71bn in 2024.
In Belgium, the Diabetes Care Devices market is increasingly incorporating digital health solutions, enhancing patient engagement and personalized treatment options.

Definition:
The Diabetes Care Devices market, a medical technology market, includes medical devices used in the management and treatment of diabetes. These devices range from blood glucose meters and continuous glucose monitoring systems to insulin pumps, insulin pens, and other related accessories. It is important to note that the market does not include pharmaceutical products used in the treatment of diabetes, such as insulin and oral hypoglycemic agents.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Medtronic, Abbott Laboratories, and Roche Diagnostics. Further information on the key players can be found in the Market Shares boxes.

Blood glucose monitoring devices
Insulin delivery devices

Diabetes drugs
Diabetes supplements

The Diabetes Care Devices Market in Belgium is witnessing substantial growth, propelled by factors such as increasing prevalence of diabetes, advancements in technology, and heightened awareness of diabetes management among patients and healthcare providers.

Customer preferences: Consumers in Belgium are increasingly favoring smart diabetes care devices that offer real-time monitoring and data integration with mobile applications, reflecting a shift towards personalized health management. There is a growing demand for user-friendly solutions that accommodate diverse lifestyles, particularly among younger populations and busy professionals. Furthermore, the emphasis on preventive healthcare is prompting patients to adopt proactive measures, leveraging technology for better diabetes control and lifestyle adjustments, thereby enhancing overall quality of life.

Trends in the market: In Belgium, the Diabetes Care Devices Market is experiencing a surge in demand for innovative, connected devices that empower users to manage their condition more effectively. The trend towards continuous glucose monitoring (CGM) systems is gaining momentum, as these devices provide real-time data and insights, fostering better decision-making. Additionally, integration with mobile health applications is becoming essential, allowing users to track their progress and share information with healthcare providers. This shift towards technology-driven solutions is significant, as it enhances patient engagement and adherence to treatment plans, ultimately leading to improved health outcomes and quality of life. Stakeholders, including manufacturers and healthcare providers, must adapt to these evolving consumer preferences to remain competitive in this dynamic market.

Local special circumstances: In Belgium, the Diabetes Care Devices Market is influenced by the country's robust healthcare infrastructure and a strong emphasis on patient-centered care. The Belgian population values high-quality health services, which drives demand for advanced diabetes management solutions. Additionally, stringent regulatory standards ensure that only the safest, most effective devices reach the market, fostering consumer trust. The multicultural landscape also encourages diverse healthcare approaches, prompting innovations in diabetes care tailored to various demographic needs, ultimately enhancing patient outcomes and engagement.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Belgium is significantly shaped by macroeconomic factors such as national economic stability, investment in healthcare innovation, and demographic trends. Belgium's strong economy, characterized by high GDP per capita, facilitates substantial healthcare spending, enabling the acquisition of advanced diabetes management technologies. Favorable fiscal policies promote research and development in medical devices, while increasing public awareness of diabetes care correlates with a growing demand for effective solutions. Furthermore, the rising prevalence of diabetes, driven by lifestyle changes and an aging population, necessitates innovative diabetes care devices, ultimately enhancing market performance.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.