Belgium Diabetes Devices Market Report 2022 to 2030

Belgium Diabetes Devices Market Analysis

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The Belgium Diabetes Devices Market is expected to witness growth from $50 Mn in 2022 to $87 Mn in 2030 with a CAGR of 7.20% for the forecasted year 2022-2030. The demand for diabetes devices in Belgium is being driven by the rising knowledge of diabetes and its complications. This is due to the fact that people with diabetes are beginning to understand how crucial it is to successfully manage their condition and monitor their blood sugar levels. The market is segmented by type and by the end user. Some key players in this market include Coloplast Belgium, Avanos Medical Belgium BVBA, Johnson & Johnson, Philipps Healthcare, Medtronic, DSM N.V., Roche and Dexcom.

ID: IN10BEMD007 CATEGORY: Medical Devices GEOGRAPHY: Belgium AUTHOR: Jigyasu Bhandari

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Belgium Diabetes Devices Healthcare Market Executive Analysis

The Belgium Diabetes Devices Market size is at around $50 Mn in 2022 and is projected to reach $87 Mn in 2030, exhibiting a CAGR of 7.20% during the forecast period. In Belgium, the administration and protection of the public healthcare system receive 0.8% of Belgium's GDP in 2022. Belgium's overall health spending as a share of GDP increased over time, going from 10.5% in 2015 to 12.5% in 2020. The total spending is greater than the EU average. The public sector's (total) expenditure has steadily risen over the past ten years and has typically kept pace with levels in the European Union. (EU).

Around 716,000 people in Belgium are believed to have diabetes, which has a prevalence of 6.4%. Both type 1 and type 2 diabetes fall under this category. In Belgium, type 1 diabetes affected 19.3 per 100,000 person-years of adolescents ages 0 to 14 between 2011 and 2021. The incidence of type 2 diabetes was 1.7 per 100,000 person-years in children aged 10 to 19 during the same time span. Diabetes devices are medical innovations created to aid diabetics in controlling their disease. The instruments that measure blood glucose levels are known as blood glucose meters, which enable diabetics to track their blood sugar levels and modify their lifestyle or medication as necessary. Better glycemic control, a lower chance of complications, and a higher quality of life are all advantages. In Belgium, blood glucose metres are generally accessible and covered by health insurance. Blood glucose levels are constantly monitored by Continuous Glucose Monitoring (CGM), which transmits the information to a receiver or smartphone app. Improvements in glycemic control, a decreased chance of hypo and hyperglycemia, and an overall improvement in quality of life are all advantages. For patients who qualify, CGM systems are offered in Belgium and are supported by health insurance.

Belgium Diabetes Devices Market Analysis

Market Dynamics

Market Growth Drivers

The demand for diabetes devices in Belgium is being driven by the rising knowledge of diabetes and its complications. This is due to the fact that people with diabetes are beginning to understand how crucial it is to successfully manage their condition and monitor their blood sugar levels. To create new products and services, businesses in the diabetes devices industry are increasingly working with healthcare professionals and one another. This is anticipated to stimulate market invention and expansion. A key factor in the expansion of the Belgian diabetes device market is the accessibility of top-notch diabetes services and equipment for people seeking medical care there. The importance of controlling diabetes is becoming more and more apparent to the people of Belgium. Due to the increased demand for diabetes technology, manufacturers now have more opportunities to create new products and expand their market position in the Belgian healthcare industry.

Market Restraints

The Belgian market for diabetes devices is highly competitive among manufacturers, which frequently results in price rivalry. The constant pressure on manufacturers to keep their prices low in order to stay competitive can restrict their profitability. Diabetes device makers in Belgium face intense competition in the market, which frequently leads to price wars. Manufacturers may find it difficult to make a profit due to the ongoing demand to keep prices low in order to remain competitive.

Competitive Landscape

Key Players

Coloplast Belgium (BE)
Avanos Medical Belgium BVBA (BE)
Johnson & Johnson
DarioHealth
Medtronic
Philipps Healthcare
Dexcom

Healthcare Policies and Regulatory Landscape

Diabetes devices marketed in Belgium must comply with the Medical Device Regulation (MDR), which took effect in May 2021. Manufacturers must abide by the strict requirements outlined in the MDR for the safety and functionality of diabetes devices in order to sell their devices in Belgium. The Belgian healthcare system keeps an eye on and monitors diabetes devices to guarantee their effectiveness and safety. Manufacturers are required to notify the Belgian Federal Agency for Medicines and Health Products (FAMHP) of any adverse occurrences involving their products. The National Institute for Health and Disability Insurance (INAMI/RIZIV) in Belgium is in charge of overseeing payment procedures. Usually, the government or insurance providers pay for diabetes devices, though the reimbursement schedule may change based on the device and the patient's state.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Diabetes Devices Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents

Blood glucose monitoring systems
Self-monitoring blood glucose monitoring systems
Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing Devices
Insulin delivery Devices
Insulin pumps
Insulin pens
Insulin syringes and needles
Diabetes management mobile applications

By End User (Revenue, USD Billion):

The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.

Hospitals & Specialty Clinics
Self & Home Care

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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The market is segmented by type and by the end user.

The Belgium Diabetes Devices Market is studied from 2022-2030.

Coloplast Belgium, Avanos Medical Belgium BVBA, Johnson & Johnson, Philipps Healthcare, Medtronic, DSM N.V., Roche and Dexcom are the major companies operating in Belgium's diabetes devices market.