This high incidence of diabetes among Hong Kong’s adult population is compounded by their low awareness level. The Government has been running campaigns that encourage the self-monitoring of blood glucose (SMBG) as a crucial part of diabetes management.
New analysis from Frost & Sullivan, Hong Kong SMBG Devices and Strips Market, finds that the market earned revenues of $6.8 million in 2009 and estimates this to reach $ 23.7 million by 2016.
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 driven mainly 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 per cent of the population,”
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,”
The Hong Kong healthcare industry support high-quality clinical trial services and the industry also recognise the results by international and Chinese drugs registration authorities that have 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.
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Hong Kong SMBG Devices and Strips Market is part of the Medical Devices Growth Partnership Services program, which also includes recent reports on various other markets such as SMBG market for Thailand, SMBG market for Taiwan and SMBG market for Malaysia as well as Endoscope and Surgical Products Market for Vietnam. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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