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Diabetes Test Kit manufacturing industry is well positioned for future growth. These devices market is
very attractive business with enormous future potential. Main reason of this is worldwide increment in
diabetes dramatically, and it is estimated that 552 Million people will develop the disease by 2030.
Statistics shows that worldwide SMBG User has grown more than 50 per cent in 2013.
According to GlobalData, the entire monitoring market will reach $12.2 billion by the year 2017. In 2010
the test strips themselves accounted for close to 90% of the total market value. Therefore, over $11 billion
will be up for grabs in 2017 on the sale of test strips alone.
The SMBG industry is ready to be disrupted since it is at its maturation stage. The majority of the
products currently in the market are in the maturation stage. Their users are unhappy with their products
and are hopeful for an improvement in the diabetes management options available. In fact, about 80% of
diabetics believe their disease management can be improved. These companies have not adapted their
products to emerging market trends, and therefore are highly vulnerable to attack from companies that are
more aware of the market needs and trends.
Self-monitoring of Blood Glucose Systems Market in India, finds that the market earned revenues of
$49.7 million in 2009 and is expected to grow at a CAGR of 17.4 percent in the next five to six years.
Innovative marketing campaigns to Educate clinicians and end-users about the benefits of monitoring
diabetes, attractive offers to distributors, retailers, and end-users, substantial price cuts for meters are
likely to give a leg up to the INR 1.4 billion glucose meters and strips market.
diabetes sector, the medical devices manufacturers globally invest in R&D, which is again leading to the
growth of the SMBG devices market.