KUALA LUMPUR, Malaysia, May 20 /PRNewswire/ -- 2009 poses a challenging year for the global economy. Likewise for the SMBG within APAC, whereby several developing nations were experiencing challenges on devaluating currencies, which subsequently decreased the returns of the key SMBG players. On the positive end, the demand of self-monitoring device is still on the rise, in line with the growing popularity of personalized healthcare in the region.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)
Frost & Sullivan Consultant Keith Lee says, "The changing lifestyle and rapid urbanization in most developing countries in APAC is gradually increasing the burden of chronic diseases. Diabetes is no exception. With the increasing popularity of personalized healthcare and patient awareness, the usage of OTC self-monitoring devices is also on the rise, which creates the market demand for SMBG products."
"According to the International Diabetes Federation (IDF), 246 million people in the global adult population in the seven regions of IDF were burdened with diabetes, up from 194 million in 2003. It is estimated that the figure will rise to 380 million by 2025," Lee further explains.
The strong rise of global diabetes prevalence is likely to expand the global SMBG market by more than 50 percent by 2025. Being the two most populous countries globally, China and India are expected to become the most strategic markets for SMBG system by accounting for more than 100 million diabetes patients in 2025.
Nonetheless, due to the silent nature of diabetes, the majority of the diabetes patients were unaware of the prevalence. Furthermore, while the usage of self-monitoring blood glucose system is a norm in most developed countries, the exposure of such system in most developing countries in APAC is still considerably low. In recognition of the favorable potential of the SMBG market, it is also noticeable that the SMBG market is enticing more players into the market, which increases the level of competition.
"The lack of awareness on the importance of SMBG system in most developing APAC countries and the inability of patients to detect diabetic symptoms effectively may potentially hinder the adoption rates of SMBG systems. Furthermore, the increasing entries of new market players had gradually intensified the market competition," according to Lee.
In response to the market challenges, it is vital for SMBG players to create more awareness on diabetes care and promote the importance of SMBG devices as a regular diagnostic tool. Collaborative efforts with the government, particularly for the public hospital segment and strong marketing initiatives within the OTC sector will likely be the key formulation of success in the SMBG market.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Contact:
Emmie Kaur
Corporate Communications -Healthcare, Asia Pacific
DID: +603 6204 5913
Email: emmie.kaur@frost.com
Jasminder Kaur
Corporate Communications -Healthcare, Asia Pacific
DID: +65 6890 0937
Email: jkaur@frost.com
'/>"/>
| SOURCE Frost & Sullivan Copyright©2009 PR Newswire. All rights reserved |
Related medicine news :
1. Transatlantic Regulatory Integration of Drug Approval Process Vital for the Global Pharmaceutical Industry, Notes Frost & Sullivan
2. Frost & Sullivan: Clinical and Cost Benefits to Promote Uptake of Advanced Wound Management Technologies Across Europe
3. Frost & Sullivan Cites Gearworks for Creativity and Customer Service in the Home Healthcare Market
4. Focus on Rapid Medical Response to Improve the Quality of Healthcare and Drive the Ambulance Services Market in Europe, According to Frost & Sullivan
5. Frost & Sullivan Acknowledges Sypris for High-Quality Calibration Solutions
6. Affordable and Flexible CRM Solutions - Key to Drive Investments from Pharmaceutical Companies, Notes Frost & Sullivan
7. Not All Gloomy for African Healthcare Markets: Frost & Sullivan Finds Potential Despite the Recession
8. Frost & Sullivan Award Reinforces Outstanding Product Line Strategy by SIRS-Lab
9. Frost & Sullivan: Shift from Analog Mammography Systems to Digital Mammography Systems Will Boost the European Mammography Systems Market
10. South Africa not Gaining the Full Benefit of PPPs in the Healthcare Sector, Says Frost & Sullivan
11. Personalized Medicine Makes Significant Headway Following the Rapid Evolution of U.S. Molecular Diagnostics Market, Finds Frost & Sullivan
| Copyright © 2003-2012 Bio-Medicine. All rights reserved. ABOUT | CONTACT US | DISCLAIMER | PRIVACY POLICY | TERMS AND CONDITIONS |  |