Increase in Diabetic Population, Health Awareness to Drive SMBG Market

New York, NY, May 04, 2013 --(PR.com)-- Netscribes, a knowledge consulting solutions company, announces the launch of its report on the SMBG Market 2013 in India. SMBG equipment have witnessed strong growth over the last few years on account of increasing incidences of diabetics and self awareness towards SMBG, with people becoming aware of the harmful effects of diabetes.

The report begins with macro economic indicators whereby the basic economic indicators have been depicted. In the introduction section, market size of point of care market testing for both global and Indian market has been provided. The advantages of point of care market testing have been listed. The next slide provides the segmentation of the point of care market in India. In the market overview section, market size and growth rate of SMBG in value terms has been provided. Furthermore, an overview of the harmful aspects of diabetes and promotional activities adopted by companies has been described. Factors affecting the use of SMBG and working principle of SMBG have been tabulated. The slide also enumerates the benefits of using SMBG. In the next slide, the distribution channel of SMBG has been highlighted (both traditional and modern) along with indicative pricing.

In the next section drivers and challenges of SMBG market has been explained. Drivers include a large number of diabetic patients in India and a steady growth in their numbers in days to come. So it provides a competitive landscape for growth for the manufacturers. A rise in obese people has also provided a lucrative market to SMBG manufacturers. Demand for SMBG equipment is also on the rise as people have become more health conscious and aware of the danger diabetes poses. A large number of people who continue to suffer from diabetes are unable to afford it and therein lies the challenges of the SMBG market. Moreover, the instrument also requires recurring expenditure in the form of strips. Often, people have a problem in understanding the results of the test as they are unable to detect the color change. Many doctors are also skeptical about the results obtained from SMBG. Trends in the SMBG market include technological innovations brought about by the manufacturers to make the product more user-friendly. Alternative bloodless glucometers are likely to hit the market as some people do not want to prick themselves. Glucometers being easily available in the chemist shop, it can help to increase penetration of SMBG equipments. Better insurance coverage is another growth driver.

The competition section begins with a Porter’s five forces model which analyses the dynamics of the market. The major players in the market have been profiled, with a financial summary for each of the players. Key ratios and key contacts are also listed. The last section offers strategic recommendations for the players in the SMBG market. For each of the companies, a SWOT analysis has been provided.