Frost & Sullivan (http://www.patientmonitoring.frost.com) finds that the European Continuous Glucose Monitoring Systems Market earned revenues of $14.0 million in 2006 and is likely to reach $ 30 million in 2009.
"Currently in the innovation stage of the product life cycle, the European continuous glucose monitoring systems market is witnessing considerable activity to quickly and effectively meet unmet demand," says Frost & Sullivan Industry Analyst Aarati Ajay. "Attracted by its considerable potential, the industry encompasses an interesting mix of participants ranging from multi-billion dollar global conglomerates such as Abbott Labs, Medtronic, and Johnson & Johnson, to very small technology innovators such as Cybiocare, Sontra, and SpectRx."
Devising a method that involves minimum or no discomfort to the patient, while monitoring blood glucose levels is the biggest challenge facing market participants today. Already, technology initiatives are underway to develop systems that offer reliable and accurate information on glucose levels while causing minimal or no inconvenience to patients. Another major challenge is the cost attached to the use of such devices.
"Currently, there are only three products available in the market and all of them are based on a model in which the sensors need to be changed every few days," explains Ms. Ajay. "Sensors are expensive and add significantly to the total cost of using the system."
Moreover, the inclusion of such systems under the reimbursable category is widely debated since, at present, these devices are useful only to a very small section of the patient population.
A proactive approach to technology development will ensure success in this largely untapped market. Companies able to introduce affordable and user-friendly devices rapidly will capture the majority of this exciting market.
European Continuous Glucose Monitoring Systems Market is part of the Patient Monitoring Subscription, which also includes research in the following markets: European Market for Telemedicine, European Market for Wireless Patient Monitoring and, European Neurological Monitors Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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