SMBG Market in India 2013
SMBG equipments has witnessed strong growth over the last few years on account of large number of diabetics and increasing awareness towards SMBG. People are also 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 testing for both global and Indian market has been provided. The advantages of point of care 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. Further an overview of the harmful aspects of diabetes and promotion adopted by companies has been described. Factors affecting the use of SMBG and working principle of SMBG has 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 market to grow for the manufacturers. Also rise in obese people has also provided a lucrative market to SMBG manufacturers. Demand for SMBG equipments are also in rise as people have become more health conscious. They have become aware of the danger diabetes poses. The challenges of SMBG market include not being able to buy SMBG for a large number of people who continue to suffer from diabetes.
Moreover, this instrument also requires recurring expenditure in form of strips. Many a times people have problems 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 of SMBG market include technological innovations being brought about by the manufacturers so as to make the product even more user friendly. Alternative bloodless glucometers are likely to hit the market as some people do not want to prick themselves. Again, glucometers are easily available in the chemist shop helping to increase penetration and hence the market of SMBG. Better insurance coverage has also helped SMBG market to grow.
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 which includes 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.