Varied government policies related to reimbursement, prescription requirements, and CE mark requirements, have further contributed to the challenges of non-European competitors entering the market.
In addition, high entry barriers for non-European manufacturers have, interestingly, had a detrimental effect on local manufacturers. Limited competition has stunted market growth, even while dampening aggressive marketing and awareness raising activities.
"Aggressive marketing and proactive product promotion will encourage patients to explore all available solutions," advises Devadason. "Product innovation will be necessary to accelerate market growth."
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|SOURCE Frost & Sullivan|
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