Glucose Self-Monitoring Business - Tough Challenges in a High Growth Market.Business Editors/Health/Medical Writers LONDON--(BUSINESS WIRE)--Jan. 26, 2004 Sustained efforts of educators and manufacturers in the healthcare industry have not only enhanced public awareness about diabetes worldwide, but also increased the demand for glucose self-monitoring devices among diagnosed diabetics. This, in turn, is leading to product innovation aimed at enhancing ease of use and convenience. However, this vibrant growth is accompanied by a unique set of challenges, making the glucose monitoring glucose monitoring Lab medicine The periodic evaluation of any analyte abnormal in Pts with DM, to assess short and long-term control with antiglycemic agents. See Glucose, Glycated hemoglobin. business highly competitive and expensive. 'Free meters' is one of the key challenges faced by glucose self-monitoring equipment manufacturers. Glucose meters A glucose meter (or glucometer) is a medical device for determining the approximate concentration of glucose in the blood. It is a key element of home blood glucose monitoring (HBGM) by people with diabetes mellitus or with proneness to hypoglycemia. are either heavily discounted or distributed free with the purchase of multiple packs of glucose strips. This is forcing participants to amortise the cost of meters over a given time period. Deployment of such a business practice could prove detrimental in case of infrequent meter use by diabetics. "With glucose meters proving to be 'loss leaders', participants have quickly realized that they need to aggressively market glucose test glucose test See 1 Glucose, see there 2 Glucose tolerance test, see there strips having the potential to generate higher profit margins," says Seemeen Mirza, Research Analyst from Frost & Sullivan (http://medicaldevices.frost.com). The challenge lies in identification of 'ideal' diabetic patients that are likely to use these test strips and meters frequently and generate repeat sales. This is a formidable task, especially when cost can be an important factor among diabetic patients in the selection of a test strip/meter or its upgradation. The cost factor has assumed further importance, as insurance companies -- in their efforts to contain expenditure in the wake of economic slowdown -- are passing more costs to consumers in the form of higher co-pays. As a result, professional healthcare agencies that play a decisive role in end users' initial purchase decisions are demanding elastic pricing from equipment manufacturers. Going forward, participants are expected to concentrate on providing flexible pricing schemes -- a factor reckoned to be more important than 'time-to-market' -- to step up adoption rates. Revision of marketing strategies is another significant challenge for manufacturers of glucose monitoring devices. Growing 'self-selection' of glucose self-monitoring kits by diabetics has forced participants to adopt a consumer-focused approach rather than continuing with marketing strategies that were traditionally aimed at professional healthcare agencies. Currently, many leading companies such as Roche Diagnostics Roche Diagnostics Division is a subsidiary of Hoffmann-La Roche which manufactures equipment and reagents for research and medical diagnostic applications. Internally, it is organized into six major business areas: Roche Applied Science, Roche Centralized Diagnostics, Roche , LifeScan (J&J), Abbott and Bayer are channelling substantial funds toward direct-to-consumer advertising direct-to-consumer advertising Drug industry The use of mass media–eg, TV, magazines, newspapers, to publicly promote drugs, medical devices or other products which, by law, require a prescription, which targets consumers, with the intent of having a Pt in an effort to enhance brand recognition. "Brand awareness has become extremely important as most consumers 'self-select' their glucose monitoring kit during subsequent purchases and upgrades," says Ms. Mirza. "The expensive, direct-to-consumer advertising enables firms to effectively communicate product differentiation Product Differentiation A source of competitive advantage that depends on producing some item that is regarded to have unique and valuable characteristics. , generate brand recall and extend their market reach." The adoption of a consumer-focused approach has forced participants to continuously innovate, a vital factor that will enable them to stay ahead of competition. This requires balanced allocation of funds for state-of-the-art R&D capabilities and marketing. Only tier one companies with huge resources at their disposal are capable of sustained spending on these key fronts. Small enterprises lack funds for such prolific spending, triggering consolidation within the industry. The global diabetes monitoring industry has had a long history of acquisitions. The most recent news in this area involved Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. and TheraSense Inc. Small, innovative companies are merging with large, resource-rich enterprises that have extensive distribution channels, strong marketing clout and abundant funds for R&D. This strategy is expected to benefit the merging entities immensely. Long-term market prospects are promising, if the recent findings of healthcare studies are any indication. The studies have revealed that obesity in America is reaching a crisis point. Correlations have been established between obesity and numerous degenerative diseases A degenerative disease is a disease in which the function or structure of the affected tissues or organs will progressively deteriorate over time, whether due to normal bodily wear or lifestyle choices such as exercise or eating habits. such as heart problems and diabetes. Additionally, poor health habits and sedentary lifestyles
Sedentary lifestyle is a type of lifestyle most commonly found in modern (particularly Western) cultures. It is characterized by sitting or remaining inactive for most of the day (for example, in an office. are contributing to the growing incidence of Type 2 diabetes type 2 diabetes n. See diabetes mellitus. . This has increased the patient population, especially in the 60 and above age category and in turn, is escalating the demand for modern self-monitoring technologies. "The new non-invasive or minimally invasive options on the horizon could revolutionise blood glucose blood glucose Diabetology The principal sugar produced by the body from food–especially carbohydrates, but also from proteins and fats; glucose is the body's major source of energy, is transported to cells via the circulation and used by cells in the presence self-monitoring in the near future," says Ms. Mirza. "Technologically, participants will be striving to move from being adjunctive to the finger-stick method and thereby, provide viable stand-alone alternatives." The coming years will witness a more holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. toward diabetes monitoring, encompassing active management of the co-morbidities associated with diabetes, for instance, hypertension, obesity and cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease . Enterprises that can offer 'one-stop shop' for the entire range of diabetes management This article is about the management of diabetes mellitus. For more on the disease itself see diabetes mellitus. Diabetes is a chronic disease with no cure as of 2007. It is associated with an impaired glucose cycle, altering metabolism. tools -- right from glucose self-monitoring supplies to nutrition and diet control drugs -- are likely to reap rich benefits. Such developments could even create a situation where continuous glucose monitoring systems cannibalise v. i. 1. to eat human flesh. v. t. 1. to use parts of (something, such as a machine), to repair something else. Verb 1. cannibalise - eat human flesh cannibalize the market for discrete glucose monitoring technologies. If you are interested in an analysis extract providing you with an overview, summary, challenges and latest coverage of the Strategic Analysis of the World Diabetes Glucose Monitoring Devices Market -- then send an email to Katja Feick - Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Manager at katja.feick@frost.com with the following information: Full name, Company Name, Title, Contact Tel Number, Email. Upon receipt of the above information, an overview will be emailed to you.
World Diabetes Glucose Monitoring Devices Market
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