Interesting question, but I believe that eventually yes. Perhaps some releases are still coming etc (longer than in the US), but it was pretty clear from the start, that the format war would be decided in the U.S. and Europe then follows. In Japan, I believe Blu-ray has been victorious even before the recent developments in America. China has their "own markets", so not sure about that..
But again: Toshiba won´t produce any new players etc, so that alone will make things difficult for the companies..