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Taiwanese Self-monitoring of Blood Glucose (SMBG) Devices and Strips Market
Frost & Sullivan, Aug 2010, Pages: 77
This Market Engineering research service has been developed to address the dynamics of blood glucose monitoring device sales and consumption of test strips in Taiwan. The market is segmented to two segments – Hospital and retail markets. This research service presents the key findings of Taiwan SMBG devices and strips market. It provides insight and forecast of market size, unit shipments and price trends. This research service also discusses market trends, market drivers, market restraints, technology trends and Taiwanese government initiatives.
This research service titled Taiwanese Self-monitoring of Blood Glucose (SMBG) Devices and Strips Market provides a comprehensive analysis of the dynamics of blood glucose monitoring device sales and consumption in Asia Pacific. In this research, Frost & Sullivan's expert analysts thoroughly examine the following market segments: hospital and retail, along with the market drivers and restraints in each segment.
Market Overview
A Greater Prevalence of Diabetes Patients Drives the Taiwanese SMBG Devices and Strips Market
A rise in the incidence of diabetes in Taiwan is boosting the Taiwanese SMBG devices and strips market. The Taiwanese Government is focusing on increasing awareness about the disease to contain and bring down its prevalence. The compulsory National Health Insurance (NHI) covers majority of Taiwanese residents. Therefore, NHI physicians treat almost all diabetic patients. “SMBG meters and strips have become an integral part of diabetes management to counter the rising incidence of diabetes,” says the analyst of this research. “Additionally, prevention measures such as annual health screening that have been implemented in Taiwan may reduce the number of deaths related to complications arising from diabetes.” Traditionally, hospitals have been the major consumers of blood glucose strips for point-of-care testing, followed by general practitioners (GPs) and clinics. However, the retail sales of blood glucose meters (BGM) and strips, which are used for self-monitoring, have grown exponentially over the last five years. Their sales have become a significant revenue stream for the BGM manufacturers.
However, low awareness on the symptoms of diabetes is a dampener to the growth of the SMBG devices and strips market in the rural and suburban areas of Taiwan. Furthermore, a decrease in the compliance of self-monitoring among patients restrains the market. “The advent of biosensor technology may eventually replace strips, making them a threat to the market growth of strips,” explains the analyst.
Manufacturers are concentrating on reagent formulation to improve the stability and sensitivity of the strips. They are also focusing on electro chemistry applications, such as glucose determination, and are looking to deliver high-quality bare strips. “Patients are being educated to increase the frequency of blood glucose testing at home for better disease control,” concludes the analyst. “Most diabetes care centers are emphasizing on a patient-centered approach rather than a professional-centered one to effectively focus on self-management of the disease.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Segment:
- Hospital
- Retail
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