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Hong Kong Self-Monitoring of Blood Glucose (SMBG) Devices and Strips Market
Frost & Sullivan, April 2011, Pages: 92
This Market Engineering research service has been developed to address the dynamics of blood glucose monitoring device sales and consumption of test strips in Hong Kong. The market is divided in to two segments – hospital and retail. This research service presents the key findings of the Hong Kong SMBG devices and strips market. It provides insights and forecasts of market size, unit shipment, and pricing. This research service also discusses the market trends, market drivers, market restraints, technology trends, and Hong Kong government initiatives
Research Overview
This Frost & Sullivan research service titled Hong Kong SMBG Devices and Strips Market presents key findings of the market and offers insightful reviews on the forecast of the market size, unit shipments and price trends. The study also analyses market trends, drivers and restraints, industry challenges, technology trends and Hong Kong Government initiatives. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: self-monitoring of blood glucose (SMBG) meter (retail) and SMBG strips (retail and hospital).
Market Overview
Rising Incidence of Diabetes Coupled with Awareness Campaigns Supported by the Government Drive the Hong Kong SMBG Devices and Strips Market
Of the nearly 581,600 people suffering from diabetes in Hong Kong in 2009, an estimated 12,214 were undiagnosed. One out of 10 persons in Hong Kong has diabetes mellitus; the prevalence ranges from 2 per cent in those aged 35 years and below to more than 20 per cent in those aged 65 years and above. However, on an average, only 43 percent of them have their blood glucose monitored every month. As this high incidence of diabetes among Hong Kong’s adult population is compounded by their low awareness levels, the Government has been running campaigns that encourage SMBG as a crucial part of diabetes management.
Self-monitoring has become increasingly popular, as type-2 diabetes patients, who totalled 74,445 in 2009, need frequent monitoring of blood HbA1C levels. Thus, they are the major target for SMBG market. The SMBG devices and strips market is mainly driven by the Government, which has organised Diabetes Screening Day, introduced Shared Care Programme and encouraged more people to self-monitor their blood glucose by announcing position statements. “The number of diabetics in Hong Kong is expected to cross the one million mark by 2025, which translates to 12.8 percent of the population,” observes the analyst. “With an increasing number of diabetics in the country and more diabetic elderly keen to do self-monitoring, the SMBG devices market in Hong Kong is likely to continue to grow until 2016.” Traditionally, hospitals have been the largest consumers of blood glucose strips for point-of-care testing, followed by general practitioners (GPs) and clinics. However, retail sales of blood glucose meters (BGMs) and strips required for self-monitoring have grown exponentially in the last five years and have become an increasingly important revenue stream for BGM manufacturers. Therefore, SMBG device manufacturers have to educate customers on ways to handle the devices and interpret the readings on self-monitoring of SMBG strips and meters.
“Research and clinical trials enable newer and better SMBG devices that include several functions in one device, such as food calorie tracker, energy consumption calculator for various activities, alarm and blood pressure measurement,” says the analyst. “Such SMBG devices will be preferred more than strips.” The Hong Kong healthcare industry is supported by high-quality clinical trial services, recognition of the results by international and Chinese drugs registration authorities and a sizeable patient population. With increasing SMBG market opportunity, the manufacturers can design marketing strategies to drive revenues by understanding the challenges, drivers and restraints of the market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- SMBG meter – retail
- SMBG strips – retail
- SMBG strips – hospital
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