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U.S. Glucose Monitoring Markets and Emerging Technologies
Frost & Sullivan, Dec 2005
Emerging Glucose Monitoring Technologies Edge Closer to Market Realization
Constant innovations in glucose monitoring technologies are being driven by the need for more frequent testing to better understand individual patients’ glucose level trends and enhance personal treatment protocols. New glucose monitoring technologies are working toward creating a system that is non-invasive as well as accurate, easy to use, portable, stylish, and low-cost. The emerging technology segments of the market is projected to contribute up to 6.5 percent of the overall revenues by 2011 and can pose a challenge to traditional technologies such as glucose strips. The increasing awareness of the burden of diabetes on the U.S. healthcare system is expected to spark further development of better glucose monitoring solutions.
This Frost & Sullivan research service analyzes the U.S. glucose monitoring market, segmenting it into glucose strips, glucose meters, and emerging glucose monitoring technologies. It discusses the various market trends and opportunities while providing in-depth analysis of market share, forecasts, drivers, restraints, and revenues. Strategic recommendations offered in the study enable companies to align their positioning strategies to benefit from the changing market and obtain maximum return on investment.
Rising Healthcare Costs Drive New Product Development Efforts in the Glucose Monitoring Market
Rapid expansions of the direct and indirect costs associated with diabetes are compelling Medicare and other healthcare insurance companies to take steps to control further growth in disease prevalence. The American Diabetes Association has reported that the diabetes treatment expenses on the U.S. healthcare system totaled $132 billion in 2002 of which, $91.8 billion made up the direct medical expenses. Such statistics only emphasize the need for more efforts to increase diagnosis of the undiagnosed diabetic population, and they are expected to consequently drive advancements in disease management tools, such as glucose monitors.
Support for diabetes screening and education campaigns promote compliance with glucose testing, which is likely to provide continued market growth going forward, reiterates the analyst of this research service. Marketing investments targeted at high-frequency testing populations, such as insulin pump users, is likely to prove extremely effective for sustaining profitability while expanding into new markets.
Under-penetrated Market Segments Provide New Growth Opportunities
Despite the increasing maturity of the traditional U.S. glucose strips market, the emergence of niche application markets such as intensive care units (ICUs) and operating rooms provides new growth opportunities for meters and strips. Since these markets are less concerned with aesthetics, they provide an ideal setting for the launch of first-generation emerging technologies that lack the appearance and functionalities required by consumers, explains the analyst.
Tight glycemic control (TGC) programs in the ICU, in particular represent a significant growth opportunity. Manufacturers need to focus on products that satisfy issues such as workflow and assistance with insulin delivery to attract ICU departments that are interested in implementing a TGC program.
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