'The Global Self Monitoring Blood Glucose (SMBG) Devices Market will be Worth $27.42bn by 2022' Says Visiongain Report

LONDON, November 13, 2012 /PRNewswire/ --

A new report by Visiongain, a London-based business information provider, predicts that the global market for diabetes monitoring devices will be worth $27.42bn by 2022. The market generated sales of $9.7bn in 2011.

Medical devices are playing an increasingly important role in diabetes. Products such as blood glucose monitors and insulin pumps have now become the cornerstone for the management of blood glucose levels. More invasive devices are being increasingly used in diabetes, such as those used in bariatric surgery. While such products continue to dominate the diabetes care devices market, there is a growing interest in a new innovative technology, known as continuous glucose monitoring, which can offer regular blood glucose measurements (typically every few minutes). This is particularly useful as it provides a greater insight into glucose levels throughout the day through the implantation of a small sensor under the skin. It is hoped that in the future these implantable sensors may be able to automatically adjust insulin infusion rates delivered by insulin pumps.

Hemant Mistry, healthcare industry analyst, says: "One of, if not the most important, factors driving the growth of the diabetes monitoring devices market is the increased incidence of diabetes, which has now reached epidemic proportions around the world. This has primarily been due to population growth, aging, urbanisation, and increasing prevalence of obesity and physical inactivity. As a result, there will be an increased demand and application of glucose monitoring devices that can provide not only early indication of the disease, but also provide effective management and control of the condition. The greatest opportunities lie in Asia - especially China and India. The US and European markets are largely mature and so higher growth rates are expected in these developing countries in the coming years. The increasing availability of low cost devices coupled with efforts to raise awareness towards better diabetes management will drive the market for convenient to use SMBG devices".

Visiongain's research suggests that the global SMBG devices market will also benefit from the emergence and growing popularity of continuous glucose monitoring (CGM). This pioneering technology offers continual information on blood glucose levels and on how factors such as diet, exercise and insulin administration affect glucose levels. Research has shown that 60% of low levels of glucose may not be revealed with glucose meters alone. There are challenges associated with the uptake of this new technology, including the overall higher cost of treatment and an inconsistent reimbursement policy. However, visiongain predicts CGM will emerge as a key driver of the overall SMBG devices market in the future, as the technology provides useful information for the patients for long-term management of their condition.

Visiongain predicts that this market will grow rapidly to 2022. The future of diabetes monitoring appears promising and has significant potential for growth owing to the increasing demand for more accurate, patient-friendly monitoring systems. This new report adds to visiongain's wide range of analytical reports in healthcare and other industry areas.

For sample pages and further information concerning the visiongain report Self Monitoring Blood Glucose Devices: World Market Outlook 2012-2022 please visit http://www.visiongain.com/Report/927/Self-Monitoring-Blood-Glucose-Devices-World-Market-Outlook-2012-2022

For an executive summary please contact:
Email: Sara Peerun on  sara.peerun@visiongainglobal.com
Tel: +44 (0) 20 7336 6100

Companies Listed
A. Menarini
Abbott Laboratories
AgaMatrix
AIMEDICS
All Medicus
Alere
ArKal Medical
Arkray
Bayer Healthcare
BioRad Laboratories
Biorasis
Braun Melsungen
C8 MediSensors
DePuy
DexCom
Bionime
Echo Therapeutics
EyeSense
GluMetrics
GluSense Medical
Hainice Medical
Johnson & Johnson
LifeScan
Medtronic
Mellitor
Nipro Diagnostics
Nova Biomedical
Piramal Enterprises
Positive ID
Roche
Sanofi Aventis
Sensors for Medicine and Science
Siemens Healthcare
Ultradian Diagnostics
Wockhardt

About visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.

Notes for Editors

If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44(0)207-336-6100