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'The global SMBG devices market will be worth $27.42bn by 2022' says Visiongain report
A new report by Visiongain, a London-based business information provider, predicts that the global market for diabetes monitoring devices will be worth $27.42bn by 2022. The market generated sales of $9.7bn in 2011.
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/
For an executive summary please contact:
Email: Sara Peerun on sara.peerun@
Tel: +44 (0) 20 7336 6100
Notes for Editors
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Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.
Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.