Study of Diabetes Reveals Untapped Market
Diabetes is the fourth-leading cause of death in the United States, annually taking the lives of hundreds of thousands of Americans. Direct and indirect costs due to diabetes and its complications exceed $90 billion annually. However the most staggering figure about diabetes is that only half of people with the disease have been diagnosed.
According to the U.S. Diabetes Diagnostic and Monitoring Market, a compilation of research conducted by Frost & Sullivan (Mountain View, CA), devices used to diagnose and monitor diabetes are expected to produce a $877.2 million market in 1997. Long-term growth in this market is dependent on the diagnosis of the nearly 8 million diabetics who are unaware of the disease, and improving the monitoring habits of diagnosed diabetics through increased patient education.
The research shows that two primary company strategies are used to address these goals: Companies in the diabetes industry have taken part in a series of partnerships and joint-ventures to provide more comprehensive care to patients; companies also have been offering systems and meters at virtually no cost to the end-user to increase the installed base of systems and meters, and to make profits selling the necessary support equipment.
The study divides this market into monitoring devices and aids, which allow individuals to monitor their own glucose levels, and clinical laboratory tests, which are used by general practitioners and research laboratories to diagnosis the disease and patients' glucose levels.
The monitoring devices and aids segment holds a great majority of the market share at 89.4 percent and includes blood glucose meters, blood glucose test strips, diabetes lancets, and lancing devices, according to the study. The market has experienced substantial growth since the release of the Diabetes Control and Complications Trials (DCCT) in 1993. This 10-year study showed that keeping blood sugar concentration as close to normal levels as possible slows the onset and progression of complications caused by diabetes. The DCCT recommends regular monitoring of blood glucose levels and increasing diabetes education.
Yet 82 percent of diagnosed diabetics still do not monitor their blood glucose levels, representing a great untapped market. Competitors are continually trying to make innovations in monitoring devices, including moving from photo reflectance-based meters to electrochemical biosensors and providing more extensive memory and testing features in their products.
Non- and semi-invasive meters are seen as the next step in this market and several companies are going to great expense to make them a reality. Not only would these meters take significant market share from their invasive counterparts, but would eliminate the need for lancets and lancing devices.
As a whole, the clinical laboratory tests market, which contains blood reagents and glycohemoglobin tests, generates 10.6 percent of the U.S. diabetes diagnosis and monitoring market. Although blood reagents tests are more established, through the DCCT, glycohemoglobin was proven to be a very effective test to monitor a diabetic's health during a three month period.
With only 40 percent of diagnosed diabetics regularly monitoring their blood glucose levels through the clinical lab segment, there is still a large patient population available for competitors to reach.
U.S. Diabetes Diagnostic and Monitoring Market, contains an analysis of the market, including competitive benchmarking, technology trends, and market forecasts into the year 2004. The study also provides customer demographics including the number of diagnosed and undiagnosed diabetics, breakdown by the type of the disease, and an examination of patient behavior.
Selected technologies, products, and subjects found in the study include blood glucose reagent test, glycohemoglobin tests, boronate affinity chromatography, ion exchange liquid chromatography, electrophoresis products, immunoassay products, blood glucose meters, electrochemical sensors, photo reflective sensors, no-wipe/no-timing technology, non-invasive blood glucose testing, home glycohemoglobin testing, blood glucose test strips, diabetes lancets, lancing devices, diabetes mellitus, insulin dependent diabetes mellitus, gestational diabetes mellitus, and diabetes insipidus.
Participants mentioned in this study include Abaxis Inc., <%=company%>, Bayer Corporation, Beckman Instruments Inc., Becton Dickinson and Company, Bio-Rad Laboratories, Boehringer Mannheim Corporation, Can-Am Care Corporation, Cascade Medical Inc., Chronimed Inc., Dade International, Eppendorf Scientific Inc., Gainor Medical USA Inc., Helena Laboratories, HemoCue Inc., Home Diagnostics Inc., Instrumentation Laboratory, Isolab Inc., Johnson & Johnson, Clinical Diagnostics Inc., LifeScan Inc., Lukens/Ulster Medical Corporation, Marquette Medical Systems, MediSense, Inc. (Subsidary of Abbott Laboratories), Nova Biomedical, Olympus America Inc., Owen Mumford Inc., Palco Laboratories, Pierce Chemical Company (division of Perstorp Biotec), Pointe Scientific, Precision Systems Inc, Primus Corporation, Roche Diagnostic Systems Inc., Selfcare Inc., Stat Medical Devices, YSI, Inc., Amylin Pharmaceuticals, Biocontrol Technology Inc., Futrex Inc., Integ Inc., International Technidyne Corp, LXN Corporation, Novo Nordisk Pharmaceuticals Inc., SmithKline Beecham Pharmaceuticals, SpectRx, and Technical Chemicals and Products Inc.