Diabetes Care Devices - Estonia | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Estonia is anticipated to attain US$7.45m in 2024.
This revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 12.75%, leading to a market volume of US$13.58m by 2029.
In a global context, the majority of revenue will be produced the United States, which is projected to generate US$11.71bn in 2024.
In Estonia, the Diabetes Care Devices market is increasingly integrating digital health solutions, enhancing patient management and fostering greater accessibility to essential care technologies.

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 Estonia is witnessing considerable growth, fueled by rising diabetes prevalence, advancements in technology, and increased awareness of diabetes management among the population, enhancing the demand for innovative care solutions.

Customer preferences: Consumers in Estonia are increasingly prioritizing personalized diabetes management solutions, reflecting a cultural shift towards proactive health care. There is a growing preference for connected devices that offer real-time data and insights, aligning with the tech-savvy nature of the population. Additionally, younger demographics are embracing mobile health applications for diabetes tracking and support, influenced by their digital lifestyles. This trend is further supported by a rise in community awareness initiatives, promoting education on diabetes care and encouraging the adoption of innovative medical technologies.

Trends in the market: In Estonia, the Diabetes Care Devices Market is experiencing a surge in demand for smart insulin delivery systems and continuous glucose monitoring (CGM) technology, driven by an increasing emphasis on personalized healthcare solutions. The integration of mobile applications with these devices allows users to manage their diabetes effectively through real-time data sharing and remote monitoring. This trend is particularly significant among younger populations who value convenience and connectivity in their management of chronic conditions. As awareness campaigns proliferate, industry stakeholders must adapt to these evolving consumer preferences, focusing on innovation and user-friendly designs to maintain competitive advantage.

Local special circumstances: In Estonia, the Diabetes Care Devices Market is influenced by the country’s strong digital infrastructure and high internet penetration, facilitating the adoption of advanced technologies. The cultural emphasis on preventive healthcare and wellness encourages individuals to seek innovative diabetes management solutions. Additionally, Estonia's supportive regulatory environment fosters the development and approval of new medical devices, allowing for quicker market entry. These local factors create a unique landscape that enhances the demand for smart insulin delivery systems and continuous glucose monitoring technologies tailored to the needs of Estonian consumers.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Estonia is shaped by several macroeconomic factors, including the country’s robust economic stability and commitment to healthcare innovation. Estonia's growing GDP and favorable fiscal policies promote investment in medical technologies, enhancing the availability of advanced diabetes care solutions. Moreover, global trends such as the rising prevalence of diabetes and increasing demand for personalized healthcare are echoed locally, driving market growth. The integration of digital health initiatives within Estonia’s healthcare system further supports the adoption of smart diabetes management devices, ensuring that consumers have access to effective and innovative solutions tailored to their needs.

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.