Non-invasive Procedures Energize the Emerging US and European Diabetes Diagnostics Market
Methods such as bio-sensor, near-infrared and disposable patches to replace self-monitoring blood glucose tests within a decade, finds Frost & Sullivan
MOUNTAIN VIEW, California, Oct. 21, 2015 /PRNewswire/ -- The established U.S. and European diabetes diagnostics space is experiencing a revival as high market concentration and sweeping regulatory changes force companies to build differentiated platforms and devices. Superior tests developed through the discovery of new markers, such as microalbumin or glycated albumin, will displace glucose tests and widen market scope.
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New analysis from Frost & Sullivan, Analysis of the US and European Diabetes Diagnostics Market (http://bit.ly/1Nks2OT), finds the market earned revenues of $9.04 billion in 2014 and estimates this to reach $10.90 billion in 2020.
For complimentary access to more information on this research, please visit: http://bit.ly/1Tkw4Y4.
Evidence of rapid and accurate outcomes of point-of-care tests (POCTs) for diabetes diagnostics is spurring adoption in both the U.S. and Europe.
"In the next decade, non-invasive methods such as bio-sensor, near-infrared and disposable patches will essentially replace self-monitoring blood glucose tests," said Frost & Sullivan Healthcare Industry Analyst Aish Vivekanandan. "Pioneering non-invasive technologies like Google's tear-analyzing contact lenses and Miraculins's non-invasive POCT will transform diabetes diagnostics."
The self-monitoring blood glucose segment will be further stalled by strict reimbursement policies. The implementation of the Affordable Care Act in the U.S. and shrinking budgets in Europe will lead to heavy reimbursement cuts and pricing pressures restraining uptake.
Mature companies like Roche and Bayer are reshuffling their diabetes divisions as well as scouting for acquisitions and partnerships to minimalize losses and boost profitability. These steps will also help suppliers to differentiate products and stand out from the competition.
"In addition to collaborative ventures, companies incorporating digital technology, like apps and networks, to existing platforms will thrive in the concentrated U.S. and European diabetes diagnostics space," added Vivekanandan. "Moreover, the integration of diagnostics and treatment in an individual's diabetes care will enable companies to provide personalized treatment."
Analysis of the US and European Diabetes Diagnostics Market is part of the Transformational Health (http://ww2.frost.com/research/industry/healthcare/life-sciences) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Diabetes Drug Delivery Market, US Blood Transfusion Diagnostics Market and Global Oncology Drug Delivery Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the US and European Diabetes Diagnostics Market
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