Market Insights Health Medical Technology Medical Devices

Diabetes Care Devices - Portugal

Portugal

Revenue in the Diabetes Care Devices market market in Portugal is anticipated to attain US$73.12m in 2024.
The revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 12.90%, leading to a projected market volume of US$134.10m by 2029.
In a global context, the highest revenue is expected to be produced the United States, which is estimated to reach US$11,710.00m in 2024.
In Portugal, the growing prevalence of diabetes is driving innovation in diabetes care devices, emphasizing the need for advanced technology and patient-centric solutions.

Key regions: Netherlands, Japan, France, Italy, China

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Analyst Opinion

The Diabetes Care Devices Market in Portugal is experiencing considerable growth, influenced by the rising prevalence of diabetes, increased health awareness, and advancements in technology that enhance patient monitoring and management of the condition.

Customer preferences: Consumers in Portugal are increasingly prioritizing personalized diabetes management solutions, reflecting a cultural shift towards holistic health approaches. There is a rising demand for smart glucose monitors and insulin delivery systems that integrate with mobile apps, enabling real-time tracking and data sharing. Additionally, as the aging population grows, there is a heightened emphasis on user-friendly devices that cater to varying levels of tech-savviness. This trend is further supported by community initiatives promoting diabetes education and awareness, fostering a proactive approach to health management.

Trends in the market: In Portugal, the Diabetes Care Devices market is experiencing a significant shift towards advanced, integrated solutions that enhance patient engagement and health outcomes. There is a growing adoption of continuous glucose monitoring systems and automated insulin delivery devices that sync with smartphones, fostering a seamless user experience. The increasing awareness of diabetes management, fueled by community outreach programs, is driving demand for these technologies. For industry stakeholders, this trend presents opportunities to innovate and expand product offerings, catering to an aging population while ensuring accessibility and ease of use across diverse demographics.

Local special circumstances: In Portugal, the Diabetes Care Devices market is shaped by a strong emphasis on preventive healthcare and the integration of technology in daily life. The Portuguese government actively promotes health initiatives, resulting in increased funding for diabetes education and management programs. Culturally, there is a focus on community support, which encourages patients to engage with new technologies. Additionally, the regulatory landscape is conducive to innovation, with streamlined approvals for digital health solutions, creating a favorable environment for advanced diabetes care devices to thrive.

Underlying macroeconomic factors: The Diabetes Care Devices market in Portugal is significantly influenced by macroeconomic factors such as national economic stability, healthcare funding, and demographic trends. With a growing emphasis on health expenditure, the Portuguese government is increasing its investment in diabetes management initiatives, which bolsters market growth. Additionally, the rising prevalence of diabetes, driven by lifestyle changes and an aging population, underscores the demand for innovative care devices. Furthermore, favorable fiscal policies and a commitment to integrating technology into healthcare enhance the development and accessibility of advanced diabetes solutions, positioning Portugal as a leader in diabetes care innovation within the EU.

Methodology

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.