Self-monitoring to boost European diabetes diagnostics market
The European diabetes diagnostics market is poised for expansion with segments such as self-monitoring and point-of-care (POC) tests offering tremendous growth potential.
Heightened efforts to generate awareness about diabetes and related diagnostic tests are a key driver in market development.
For instance, limited awareness about HbA1C tests is restraining the laboratory market. However, this challenge will be curtailed with more education about the test.
New analysis from Frost & Sullivan - European Diabetes Diagnostics Market - finds that the market earned revenues of $3.6billion in 2008 and estimates this to reach $10.6billion in 2015.
"The increasing prevalence of diabetes along with the demand for more rapid tests drives the market, especially for the SMBG segment," said Frost & Sullivan Programme Leader Arun A.K. "Efforts are being undertaken to popularise HbA1C tests and enhance the adoption rate in POC settings."
Type-2 diabetes is asymptomatic in nature; therefore, emphasis is placed on early diagnosis of the disease. Along with early diagnosis, patients are recommended to use self-test meters at home. The rising interest in self-testing has opened opportunities for emerging technologies such as minimally invasive and non-invasive blood glucose meters.
Low awareness and poor communication between manufacturers and physicians is a challenge for the HbA1C market. Different laboratories have varied methods of measuring HbA1C, leading to inconsistency in results.
"Manufacturers must diversify into other segments in order to maintain growth momentum in the diabetes diagnostics market," said Arun. "Improved coordination between physicians and the patient community is the best way to produce customised solutions in the market."
In addition to high-quality products, market participants must provide additional support to end users. Round-the-clock customer service and exceptional technical support are essential to succeed in this fiercely competitive market.
"Manufacturers must create awareness about the importance of diabetes diagnostics tests," said Arun. "Resources need to be allocated exclusively for marketing and distribution services."