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Self Monitoring of Blood Glucose Systems Market in India
Frost & Sullivan, Dec 2009, Pages: 75
This research service analyzes the current market trends, revenue distribution, key regulations, competitive structure, market drivers, market restraints and market share analysis for the self-monitoring blood glucose meters and strips market in India
This Frost & Sullivan research service titled Self Monitoring of Blood Glucose Systems Market in India provides current market size, market potential, and competitive analysis. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: self-monitoring blood glucose (SMBG) meters and strips.
This analysis is available through our Medical Devices Growth Partnership Services program. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services program ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
Market Overview
Effective Marketing Critical to Tap the Vast Potential of the Indian Self-monitoring Blood Glucose Market
With more than 30 million cases, India is home to the second-largest population of diabetics in the world. By 2025, the country is expected to account for 20 percent of the world’s diabetic population. However, currently, more than 90 percent of the SMBG market in India is untapped. This lack of penetration is largely due to the low awareness levels among clinicians and patients. Clinicians’ inadequate knowledge is one of the primary reasons for late detection of diabetes and poor disease monitoring. Therefore, access to quality healthcare and affordability are the issues that need to be addressed to accelerate the adoption of SMBG kits in India.
“General practitioners (GPs) tend to treat large numbers of diabetics in India but traditionally, companies have neglected this section and concentrated on specialists,” says the analyst of this research. “As patients repose the highest faith in GPs, and diabetes being diagnosed mainly by GPs, it is important to increase awareness of diabetes and the benefits of regular monitoring among GPs.” Market participants will be pleased to notice a shift in consumer mindset toward preventive medicine. The rise in income levels and the simultaneous increase in the diabetic population will also go a long way in augmenting the sales of these products.
Innovative marketing campaigns to educate clinicians and end users about the benefits of monitoring diabetes, attractive offers to distributors, retailers, and end users, as well as substantial price cuts in meters are likely to give a leg up to the INR 1.4 billion glucose meters and strips market. “As Indian consumers are not well aware of the benefits of various features offered in a glucose meter, their purchase decision is influenced by retailers and/or clinician recommendations,” notes the analyst. “Special offers play an important role in the decision making process.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- SMBG meters
- SMBG strips
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