Germany’s Diabetes market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around XX.X% during the forecast period.
According to the International Diabetes Federation, diabetes is one of the most prevalent chronic diseases in Germany, with 9.5 million recorded incidences in 2019 and the market is expected to be an opportunity of USD 12 Billion by 2025.
Germany has a 7 Million known diabetes population, but according to estimates, about 1.3 million people are expected to be living with undetected diabetes. According to the German Diabetes Centre (DDZ), type 2 diabetes patients are expected to increase in Germany for 20 years. As per their estimate diabetes will affect 12 Million in Germany by the end of the year 2040.
The major factors attributing to the growth of the market are:
- Growing Disposable Income
- Increasing Geriatric Population
- Technological Advancement
- Surging Number of Diabetes Population
- Increasing Healthcare Spending
The prevalence of known type 1 & 2 diabetes in the German adult population is very high; also, it is considered that a high number of patients are not yet diagnosed with the disease. Due to an aging population and unhealthy lifestyle, the prevalence of type 2 diabetes is expected to increase steadily over the next few years. High-quality care, including adequate monitoring, control of risk factors, and active self-management are the key factors for preventing costly and burdensome micro-and macrovascular complications in German patients with type 2 diabetes.