Sweden Diabetes Market is estimated to reach US$ 1.86 Billion by 2028, Propelled by Growth in Sedentary Lifestyle and Rise in Geriatric Population
02 Mar, 2023

According to Renub Research's latest report, "Sweden Diabetes Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" the Sweden Diabetes Market was US$ 1.45 Billion in 2022. In Sweden, more than half a million people have diabetes. Most of them suffer from type 2 diabetes. People living with diabetes can experience severe complications with high personal, clinical, and economic costs. Type 2 diabetes increases the risk of having a heart attack or stroke, and people with the disease have a two-to-three time greater risk of heart failure. More than half of people with diabetes die of cardiovascular events. However, among Swedish children, type 1 diabetes is the most common long-standing disease for which there is currently no cure. Poor adherence to treatment of diabetic patients, family history, and increasing Population in Sweden boost the market.

Diabetes Type 2 Prevalence is Increasing rapidly in Sweden

Moreover, Population (age 20 to 79) Diabetes prevalence in Sweden is 5%, according to the World Bank collection of development indicators. Diabetes prevalence means the percentage of people aged 20-79 who have type 1 or 2 diabetes. Factors like increase in overweight and obesity, unhealthy diet, and physical inactivity, diabetes prevalence are increasing among all ages in the European region. Digital tools and innovative therapies are helpful in diabetes prevention. However, Patients with T1D and T2D have a greater mortality rate when hospitalized due to COVID-19 than influenza, underscoring the importance of vaccination and other preventive measures against COVID-19 for diabetes patients.

While characterized by high-quality outcomes, the Swedish healthcare system is recently reorienting health professionals' primary and postgraduate education to respond to the growing demand for treatment and management of NCDs, such as cancer, heart disease, stroke, and diabetes. It will create a system that can better respond to the care needs of chronic conditions and take a multidisciplinary, people-centered approach. This transformation process stems from the Swedish Government but results from collaboration with universities, healthcare providers, patient organizations, and professional organizations.

Insulin Pens will capture the largest market share in coming years

A rising aging population, unhealthy meals, lack of physical activity, increasing demand for insulin cartridges, and growing incidence of diabetic patients will create more orders for Insulin pens in Sweden's Market. In addition, Smart insulin pens are one such digital tool, able to record the timing and dose of insulin delivered. They can be combined with intermittently scanned or real-time continuous glucose monitoring devices, have all the functional advantages of reusable cells, 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 cost-effective, as they are smaller and less observable than the classic vial-and-syringe.

Moreover, the SMBG, CMG, and Insulin pump segments also hold a significant market share. Driving factors that help to reach this market are the increasing diabetic Population in Sweden, rising awareness among people, increasing per capita healthcare expenditure, and availability of reimbursements.

Competitive Landscape:-

Sweden Diabetes companies include 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 2020, Blighter's Artiste service for people living with insulin-treated diabetes will be available to consumers. Customers can quickly sign up directly at the Artiste website.
• In March 2022, Dexcom released G7 first in the U.K. and will expand the launch across Europe throughout 2022. Meanwhile, the CGM system is currently under review by the Food and Drug Administration for an eventual U.S. release.

Market Summary:

The Report covers Sweden Diabetes Market by devices in 4 viewpoints 

• SMBG
• CGM
• Insulin Pen
• Insulin Pumps

Key Players - All the major players have been covered from 3 Viewpoints (Company Overview, Recent Developments, and Financial Insights) 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. 

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