BWI: Innovative Marketing to Help Self-monitoring Blood Glucose Systems Market in India Hit a Sweet Spot, Finds Frost & Sullivan

Press release from Business Wire India
Source: Frost & Sullivan
Wednesday, November 24, 2010 02:53 PM IST (09:23 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Business services, Healthcare, biotechnology & pharmaceutical, Retailers; Healthcare
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Innovative Marketing to Help Self-monitoring Blood Glucose Systems Market in India Hit a Sweet Spot, Finds Frost & Sullivan


Mumbai, Maharashtra, India, Wednesday, November 24, 2010 -- (Business Wire India) -- With 30 million cases and counting, India is home to the second-largest population of diabetics in the world. By 2025, the country is expected to account for 20 percent of the world's diabetic population. However, currently, more than 90 percent of the self-monitoring blood glucose (SMBG) market in India is untapped. This lack of penetration is largely due to the low awareness levels among clinicians and patients.

New analysis from Frost & Sullivan ( http://www.medicaldevices.frost.com), Self Monitoring of Blood Glucose Systems Market in India, finds that the market earned revenues of $49.7 million in 2009 and expected to grow at a CAGR of 17.4 percent in next 5 to 6 years.

If you are interested in more information on this study, please send an e-mail to Anish Charles/ Nimisha Iyer, Corporate Communications, at anishc@frost.com/ niyer@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

Clinicians' inadequate knowledge is one of the primary reasons for late detection of diabetes and poor disease monitoring. Therefore, access to quality healthcare and affordability are the issues that need to be addressed to accelerate the adoption of SMBG kits in India.

"General practitioners (GPs) tend to treat large numbers of diabetics in India but traditionally, companies have neglected this section and concentrated on specialists," says Frost & Sullivan Industry Analyst Swarna Sundar. "As patients repose the highest faith in GPs, and diabetes being diagnosed mainly by GPs, it is important to increase awareness of diabetes and the benefits of regular monitoring among GPs."

Market participants will be pleased to notice a shift in consumer mindset toward preventive medicine. The rise in income levels and the simultaneous increase in the diabetic population will also go a long way in augmenting the sales of these products.

Innovative marketing campaigns to educate clinicians and end users about the benefits of monitoring diabetes, attractive offers to distributors, retailers, and end users, as well as substantial price cuts in meters are likely to give a leg up to the INR 1.4 billion glucose meters and strips market.

"As Indian consumers are not well aware of the benefits of various features offered in a glucose meter, their purchase decision is influenced by retailers and/or clinician recommendations," notes Frost & Sullivan Industry Manager Jayant Singh. "Special offers play an important role in the decision making process."

Self Monitoring of Blood Glucose Systems Market in India is part of the Medical Devices Growth Partnership Services program. This also includes research in the following markets: Strategic Assessment of India Self Monitoring Blood Glucose Meters and Strips Market, Strategic Assessment of China Self Monitoring Blood Glucose Meters and Strips Market and Strategic Assessment of South Korea Self Monitoring Blood Glucose Meters and Strips Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

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 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

Self-Monitoring of Blood Glucose Systems Market in India
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CONTACT DETAILS
Anish Charles, Corporate Communications - South Asia, Frost & Sullivan, +91 22 40013419, anishc@frost.com
Tanu Chopra, Corporate Communications -Middle East, Frost & Sullivan, +91 22 40013437, tanu.chopra@frost.com
Nimisha Iyer, Corporate Communications - South Asia and Middle East, Frost & Sullivan, +91 9820050519, niyer@frost.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BUSINESS SERVICES, HEALTHCARE, RETAIL, HEALTHCARE

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