Roche and LifeScan among strongest players in glucose monitoring devices market in Benelux and Scandinavia

The growing market for glucose monitoring devices in Benelux and Scandinavian countries is currently led by Roche, while LifeScan, Bayer and Abbott also hold significant stakes, according to business intelligence provider GBI Research.

The company’s latest report* states that the combined value of the Benelux and Scandinavian glucose monitoring devices markets will increase from $494 million (£287 million) in 2013 to $783 million (£456 million) by 2020, at a Compound Annual Growth Rate (CAGR) of 7%. Roche boasts the largest share of any company in all six countries (the Netherlands, Belgium, Luxembourg, Norway, Sweden and Denmark).

Srikanth Venkataraman, senior analyst for GBI Research, said: “The increasing prevalence of diabetes, aligned with improved awareness of the condition, is the most significant factor driving the growth of the glucose monitoring devices market in the Benelux and Scandinavian regions. Roche is best placed to benefit most from the forecasted growth thanks to its strong position at present.”

Roche will continue to be particularly dominant in Norway, where it commanded 54% of the glucose monitoring devices market by volume in 2013. However, the company faces stronger competition in Sweden, holding 30% compared to LifeScan’s 26% and Bayer’s 24%.

In the Netherlands, where the market is expected to be worth $246 million (£143 million) by 2020, Roche has a healthy 43% share, while LifeScan owns 22% and Bayer 20%, according to GBI Research.

Venkataraman explained: “Existing players will need to navigate an evolving treatment landscape, as new entrants look to offer innovative Continuous Glucose Monitoring (CGM) devices.

“CGM devices are preferable to traditional glucose meters as they are able to measure glucose levels regularly. This allows for medication to be taken when it is most needed and subsequently reduces the risk of complications caused by hypoglycemic or hyperglycemic events.”

*Market Snapshot: Glucose Monitoring Devices 2006 to 2020 – Benelux and Scandinavia