High Degree of Disease Prevalence Sustains Diabetes Diagnostics Market in Europe, Finds Frost & SullivanX

Companies can increase profits by offering customised testing solutions with accurate, result-oriented features

LONDON, Nov. 28, 2012 /PRNewswire/ — The rising incidence of diabetes in Europe has presented the diagnostics market with significant growth opportunities. Diabetes organizations expect the patient pool in Europe to reach 64.2 million by 2030. This will increase testing volumes and thereby promote the need for diagnostic products and accessories across labs and hospitals.
New analysis from Frost & Sullivan (http://www.healthcare.frost.com), European Diabetes Diagnostics Market, finds that the market earned revenues of over $3.97 billion in 2011 and estimates this to reach $5.93 billion in 2018.
The proven efficacy of point-of-care testing (POCT) HbA1c and glucose tests has encouraged their adoption. In most European countries, these tests are a part of routine screening programmes.
“Doctors and diabetes specialists recommend HbA1C tests once every three months for type 1 and type 2 diabetes patients,” saysFrost & Sullivan Senior Research Analyst K. Srinivas Sashidhar. “Disease awareness programmes will further ensure regular monitoring of blood sugar levels.”
However, low-cost suppliers are increasingly entering the market. This leads to stiff competition and intense pressure on established manufacturers to introduce innovative, automated and efficient monitors.