This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Frost & Sullivan: SMBG Suppliers Look To Tap The Huge Underpenetrated Diabetic Population In Asia-Pacific

KUALA LUMPUR, Malaysia, July 22, 2013 /PRNewswire/ -- Three quarters of the population of China and India are diabetic. This translates to a patient pool of nearly 200 million for the self monitoring of blood glucose (SMBG) market. However, not more than 45 percent of these patients have been diagnosed, which represents a vast underserved market.

New analysis from Frost & Sullivan ( http://www.medtech.frost.com), APAC Self Monitoring of Blood Glucose (SMBG) Market, finds that the meter segment earned US$222.7 million in 2012 market and is expected to reach US$358.7 million in 2017. The strip segment earned revenues of US$1212.7 million 2012 and expects this to grow to US$2081.2 million in 2017.

Less than 10 percent of the diabetic population in Asia-Pacific use SMBG products due to inadequate education and awareness, as well as a lack of affordability and strict regulations. To improve patient awareness, SMBG original equipment manufacturers (OEMs), several governmental and non-governmental organizations, and hospitals conduct patient awareness camps and drives throughout the year.

"The high costs of frequent testing also deter patients from investing in SMBG devices thus lowering compliance," said Frost & Sullivan Healthcare Senior Industry Analyst Nitin Dixit. "SMBG devices are mostly an out-of-pocket expense in Asia-Pacific, as the meters and strips are reimbursed only in a handful of countries in the region. While one-time cost of buying a meter is relatively low, buying test strips for frequent testing can prove very expensive, especially for patients on 'intensive diabetes management therapy', unless reimbursed."

Market participants can leverage the ubiquity of the Internet and smartphones in Asia-Pacific to gain a competitive edge by launching diabetes data management software as a value-added service. Data from individuals' SMBG meters can be shared with consulting doctors over the Internet, who can then suggest changes in medication/diet accordingly. "Roche, for instance, experienced higher sales with the recent launches of products enabled with data management software," noted Dixit.

Differentiating from competition will become even more vital as SMBG gradually becomes a low-value, high-volume segment due to intense competition and the resultant price wars. It is important to maintain adequate shelf space (availability) in the retail segment, as patients may switch brands if the prescribed brand is unavailable.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs