Summary

Europe has a significant and growing aging population. As people age, they often require more medical care and therapeutic interventions. Therapeutic devices play a crucial role in managing various health conditions associated with aging, such as cardiovascular diseases, diabetes, and orthopedic issues. Chronic diseases, such as diabetes, cardiovascular diseases, and respiratory disorders, are on the rise globally, including in Europe. Therapeutic devices are essential in the management and treatment of these chronic conditions. The increasing prevalence of these diseases is driving the demand for therapeutic devices. There is a growing emphasis on patient awareness and empowerment in managing their health. Patients are becoming more informed about available therapeutic options and may actively seek out and demand specific therapeutic devices as part of their treatment plans. The increasing adoption of telemedicine and remote patient monitoring technologies facilitates the use of therapeutic devices outside traditional healthcare settings. Patients can use wearable devices and remote monitoring tools, leading to a higher demand for such devices in the market. The shift towards value-based healthcare, where the emphasis is on achieving positive patient outcomes, encourages the use of therapeutic devices that are effective in improving health conditions. Healthcare systems that prioritize value often drive the adoption of innovative therapeutic solutions. The increasing integration of digital health solutions and mobile health apps into healthcare practices can drive the demand for therapeutic devices. These technologies often complement therapeutic interventions, providing real-time data and insights for both healthcare providers and patients.

According to the research report "Europe Therapeutic Device Market Outlook, 2028," published by Bonafide Research, the Europe Therapeutic Device market is anticipated to add USD 10 Billion from 2023 to 2028. The EU was a net exporter of medical products in all four categories, with pharmaceutical products representing most of its trade surplus of medical products. The weaker domain is personal protection products. The main EU import partners are Switzerland, the United Kingdom, the United States, China, and Singapore, with the first three appearing among the top four countries in all categories. To help boost innovation in the sector, the EU-wide database on medical devices (EUDAMED), supported by a new device identification system based on a unique device identifier (UDI), will make big sets of data in the field of medical devices available within the EU. By producing more innovative devices, medical device manufacturers will also be able to offer solutions for disease prevention or early diagnosis that will in turn make the healthcare sector more affordable, by for example helping to prevent or reduce hospitalisation. Europe is home to a strong network of Medical technology (medtech) clusters. These clusters bring together companies, research institutions, and universities to collaborate on the development of new therapeutic devices. Some of the most well-known medtech clusters in Europe include the MedTech Valley in Denmark, the Medical Valley in Germany, and the Lyon Biocluster in France. Europe is committed to patient safety. The European Commission has a number of initiatives in place to improve patient safety in the medical device sector. These initiatives include the EU Vigilance System, which collects data on adverse events related to medical devices, and the EU Medical Device Coordination Group, which coordinates the activities of national regulators.

Germany's dominance in the European therapeutic device market stems from a combination of factors, including a robust regulatory framework, an advanced healthcare infrastructure, a strong R&D base, a skilled workforce, supportive government policies, the presence of leading medical device companies, a focus on personalized medicine, a commitment to patient safety, efforts to improve access to therapeutic devices, and a culture of collaboration within medical device clusters. Germany is the largest economy in Europe and one of the world's leading economies. The country's economic strength provides the resources necessary for significant investments in healthcare, including the procurement of therapeutic devices. The ability to allocate funds for research, development, and healthcare infrastructure contributes to Germany's leadership in the market. Germany, like many other European countries, has an aging population. As the prevalence of chronic diseases increases with age, there is a growing demand for therapeutic devices to manage and treat these conditions. The demographic profile of Germany contributes to the sustained growth of the therapeutic device market. Furthermore, the therapeutic device industry in Italy stands at the forefront of innovation and excellence in providing advanced medical solutions aimed at diagnosis, treatment, and patient care. Renowned for its commitment to healthcare advancements, Italy's therapeutic device sector reflects a dynamic landscape characterized by cutting-edge technologies, stringent regulatory standards, and a robust ecosystem of research and development.

Based on product market is bifurcated into Insulin Delivery Devices, Dialysis Equipments, Ventilators, IV Equipments, Sleep Apnea Therapeutic Device, Wound Care Management, Respiratory Care and Others. The insulin delivery devices market has witnessed continuous technological advancements. The development of innovative and patient-friendly devices, such as insulin pens, insulin pumps, and smart insulin delivery systems, has contributed to the growth of this segment. Technologically advanced devices offer better control, ease of use, and improved patient adherence. Patients often prefer non-invasive or minimally invasive methods of insulin delivery. Insulin pens and pumps provide a less invasive alternative to traditional insulin injections, enhancing patient comfort and compliance. This preference for less intrusive methods is driving the adoption of insulin delivery devices. Insulin delivery devices are designed to enhance precision and control over insulin dosages. Improved outcomes in terms of better glycemic control and reduced risk of complications contribute to the popularity of these devices among healthcare providers and patients alike. Insulin delivery devices, such as insulin pens, are known for their convenience and portability. Patients find these devices more user-friendly and less cumbersome compared to traditional vial and syringe methods. The ease of carrying and administering insulin contributes to their popularity. The integration of smart technologies into insulin delivery devices, including devices connected to mobile apps and cloud platforms enhances the monitoring and management of diabetes. Smart insulin delivery systems can provide real-time data and insights, empowering patients and healthcare providers.

In terms of End User the market is segmented into Hospitals & Clinics, Home Care Settings, Ambulatory Care Centers, and others. There is a growing emphasis on patient-centric care in Europe, promoting the delivery of healthcare services in a manner that is personalized and convenient for patients. Home care settings align with this trend by allowing patients to receive therapeutic interventions in the comfort of their homes, promoting a more patient-centered approach to healthcare. Technological advancements in therapeutic devices have enabled the development of sophisticated devices that can be used in home care settings. Portable and user-friendly devices, including infusion pumps, continuous glucose monitors, and respiratory therapy devices, empower patients to manage their conditions at home effectively. Europe has an aging population, and many elderly individuals prefer to age in place. Home care settings facilitate the delivery of healthcare services to the elderly population, enabling them to receive necessary therapeutic interventions without the need for frequent hospital visits. Therapeutic devices that can seamlessly connect with electronic health records (EHRs) and telehealth platforms contribute to the growth of home care settings. Interoperability ensures that patient data is integrated across the healthcare system, supporting continuity of care. Increased efforts in patient education and empowerment contribute to the success of home care settings. Patients who are well-informed about their conditions and treatment plans are more likely to actively participate in home-based care, leading to better outcomes.

In addition based on indication the market is divided into, Wound Care, Diabetes, Respiratory Diseases, Cardiovascular Disorders & Hypertension, Cancer, Pregnancy, Hearing Disorders, Movement Disorders and Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). Among them Wound Care segment is lead the market. Advances in wound care technologies, including the development of sophisticated dressings, negative pressure wound therapy (NPWT) devices, and bioactive wound care products, have contributed to the growth of the wound care market. These technologies offer improved healing outcomes and drive market demand. Chronic wounds, including diabetic foot ulcers, venous leg ulcers, and pressure ulcers, are prevalent in the European population. The aging demographic, coupled with the rising incidence of diabetes and vascular diseases, contributes to a higher prevalence of chronic wounds, driving the demand for wound care therapeutic devices.

Recent Developments:

• | 2021 | Philips | BioMotive 3D printing technology | Emerging from Philips' European research and development centers, BioMotive 3D printing technology exemplifies Europe's commitment to personalized medicine and advanced manufacturing techniques in the healthcare sector.

• | 2021 | Medtronic | MiniMed 770G insulin pump | Designed and manufactured in Europe, the MiniMed 770G insulin pump showcases Europe's expertise in developing innovative medical devices for diabetes management.

Companies Covered in this report:

Novo Nordisk A/S , Sanofi S.A., Medtronic plc , Terumo Corporation, Becton, Dickinson and Company, F. Hoffmann-La Roche AG,, B. Braun Melsungen AG, Baxter International Inc., Nipro Corporation, Fresenius Medical Care AG & Co. KGaA, WS Audiology A/S, Koninklijke Philips N.V.

Considered in this report

• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Europe Therapeutic Device market Outlook with its value and forecast along with its segments
• Country-wise Therapeutic Device market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By Product

• Insulin Delivery Devices
• Dialysis Equipments
• Ventilators
• IV Equipments
• Sleep Apnea Therapeutic Device
• Wound Care Management
• Respiratory Care
• Others

By End User

• Hospitals and Clinics
• Home care Settings
• Ambulatory Care Centers (ACCs)
• Other End User

By Indication

• Wound Care
• Diabetes
• Respiratory Diseases
• Cardiovascular Disorders & Hypertension
• Cancer
• Pregnancy
• Hearing Disorders
• Movement Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.






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