'The global SMBG devices market will be worth $27.42bn by 2022' says Visiongain report

Dec. 5, 2012 - PRLog -- Medical devices (http://www.visiongain.com/Sector/8/Pharma) are playing an increasingly important role in diabetes. Products such as blood glucose monitors and insulin pumps have now become the cornerstone for the management of blood glucose levels. More invasive devices are being increasingly used in diabetes, such as those used in bariatric surgery. While such products continue to dominate the diabetes care devices market, there is a growing interest in a new innovative technology, known as continuous glucose monitoring, which can offer regular blood glucose measurements (typically every few minutes). This is particularly useful as it provides a greater insight into glucose levels throughout the day through the implantation of a small sensor under the skin. It is hoped that in the future these implantable sensors may be able to automatically adjust insulin infusion rates delivered by insulin pumps.
Hemant Mistry, healthcare industry analyst, says: “One of, if not the most important, factors driving the growth of the diabetes monitoring devices market is the increased incidence of diabetes, which has now reached epidemic proportions around the world. This has primarily been due to population growth, aging, urbanisation, and increasing prevalence of obesity and physical inactivity. As a result, there will be an increased demand and application of glucose monitoring devices that can provide not only early indication of the disease, but also provide effective management and control of the condition. The greatest opportunities lie in Asia – especially China and India. The US and European markets are largely mature and so higher growth rates are expected in these developing countries in the coming years. The increasing availability of low cost devices coupled with efforts to raise awareness towards better diabetes management will drive the market for convenient to use SMBG devices”.

Visiongain’s research suggests that the global SMBG devices market will also benefit from the emergence and growing popularity of continuous glucose monitoring (CGM). This pioneering technology offers continual information on blood glucose levels and on how factors such as diet, exercise and insulin administration affect glucose levels. Research has shown that 60% of low levels of glucose may not be revealed with glucose meters alone. There are challenges associated with the uptake of this new technology, including the overall higher cost of treatment and an inconsistent reimbursement policy. However, visiongain predicts CGM will emerge as a key driver of the overall SMBG devices market in the future, as the technology provides useful information for the patients for long-term management of their condition.

Visiongain predicts that this market will grow rapidly to 2022. The future of diabetes monitoring appears promising and has significant potential for growth owing to the increasing demand for more accurate, patient-friendly monitoring systems. This new report adds to visiongain’s wide range of analytical reports in healthcare and other industry areas.

For sample pages and further information concerning the visiongain report Self Monitoring Blood Glucose Devices: World Market Outlook 2012-2022 please visit http://www.visiongain.com/Report/927/Self-Monitoring-Blood-Glucose-Devices-World-Market-Outlook-2012-2022

For an executive summary please contact:
Email: Sara Peerun on sara.peerun@visiongainglobal.com
Tel: +44 (0) 20 7336 6100

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

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