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European Diabetes Diagnostics Market
Frost & Sullivan, Dec 2008, Pages: 91
This strategic analysis service provides a detailed analysis of the European diabetes diagnostics market. An in-depth analysis of marketing parameters (revenues, forecasts, geographic trends and market share) coupled with competitive factors and strategies for sustained market prevalence are reported.
Self-monitoring and POC Diabetes Tests Offer Promise of Significant Growth
The European diabetes diagnostics market is poised for expansion with segments such as self-monitoring and POC tests offering tremendous growth potential. Heightened efforts to generate awareness about diabetes and related diagnostic tests are a key driver in market development. For instance, limited awareness about HbA1C tests is restraining the laboratory market. However, this challenge will be curtailed with more education about the test.
“The increasing prevalence of diabetes along with the demand for more rapid tests drives the market, especially for the SMBG segment,” notes the analyst of this research. “Efforts are being undertaken to popularise HbA1C tests and enhance the adoption rate in POC settings.” Type-2 diabetes is asymptomatic in nature; therefore, emphasis is placed on early diagnosis of the disease. Along with early diagnosis, patients are recommended to use self-test meters at home. The rising interest in self-testing has opened opportunities for emerging technologies such as minimally invasive and non-invasive blood glucose meters.
Low Awareness Levels Need to be Overcome to Maximise Growth Potential
Low awareness and poor communication between manufacturers and physicians is a challenge for the HbA1C market. Different laboratories have varied methods of measuring HbA1C, leading to inconsistency in results. “Manufacturers must diversify into other segments in order to maintain growth momentum in the diabetes diagnostics market,” explains the analyst. “Improved coordination between physicians and the patient community is the best way to produce customised solutions in the market.”
In addition to high-quality products, market participants must provide additional support to end users. Round-the-clock customer service and exceptional technical support are essential to succeed in this fiercely competitive market. “Manufacturers must create awareness about the importance of diabetes diagnostics tests”, says the analyst.” Resources need to be allocated exclusively for marketing and distribution services.”
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