Growing Use Within
Andhra Pradesh ~ India ~ International ~ City ~ Entertainment ~ Business ~ Sports ~ Technology ~ Health ~ Features
2010 Commonwealth Games ~ 2010 Nobel Prizes ~ Sachin Tendulkar ~ Rajasthan Royals ~ Kings XI Punjab ~ Sushil Kumar ~ Deepika Kumari ~ Somdev Devvarman ~ HR Bhardwaj
Home / India News / 2007 / March / March 28, 2007
Growing Use Within Home Settings Boosts Revenue Potential of Global Lancets Market

Top News

144 Section in Hyderabad ahead of Ayodhya verdict

Manmohan Singh to campaign in Bihar today

FBI failed to act on Headley's wife's terror link expose 3 yrs before Mumbai attacks

Craven's horror flicks 'were inspired by real stories'

RBI will intervene if inflows turn lumpy: Subbarao

Enforcement Directorate issues 'Look Out Circular' against Lalit Modi

Now, laser technology that destroys tumours using heat

Waist size, not BMI can foretell cardiovascular risk in children

Growing Use Within Home Settings Boosts Revenue Potential of Global Lancets Market

Mumbai, Maharashtra, India

Among the most commonly used alternative devices for vein puncture to obtain blood samples - are increasingly being used at home by patients and at primary care facilities such as physicians' offices and community clinics to perform glucose level tests with monitoring devices.

Personal/ homecare lancets have remained the preferred choice as more patients perform glucose level tests in their homes. Such trends are being reinforced by rising patient awareness about glucose self-monitoring practices and have been paralleled by manufacturer initiatives to design value-added, innovative products. At the same time, the need to prevent the transmission of blood-borne infectious agents is driving the uptake of safety lancets in hospitals and health care facilities.

Frost & Sullivan (http://www.medicaldevices.frost.com) finds that the Global Lancets Market earned revenues of $458.91 million in 2005 and estimates this to reach $1,028.3 million in 2012.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the Global Lancets Market (M079 - 54) then send an e-mail to Shwetha Thomas , Corporate Communications, at sthomas@frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.

"Point-of-care (POC) testing is likely to expand into primary care facilities over the next decade as physicians assume greater responsibility for early diagnostic triage, disease management and preventative medicine," says Frost & Sullivan Programme Leader of Clinical Diagnostics, Dr. Fiona Rahman. "POC testing, which offers an easy approach to regular monitoring of diseases such as diabetes and yields quick and simple results, is having a positive effect on the uptake of lancets."

At the same time, lancet manufacturers are increasingly tailoring their offerings to suit the needs of different demographic segments of the diabetic population. They are developing innovative, user-friendly and value-added devices that facilitate the monitoring of blood glucose levels by diabetics.

Currently, a handful of main meter manufacturers dominate the global lancets market. This has resulted in a reduced range of lancets being available and made market penetration difficult for new companies.

Another challenge for OEMs is to prove the clinical applicability of their lancets - including the price of the test, clinical validity, specificity, sensitivity and effectiveness- to clinicians. "A significant challenge to the uptake of lancets in home diagnostic tests such as cholesterol, HIV, Hepatitis B/C, blood type test, maternity/paternity and cancer screening (PSA) by medical communities is the lack of education and awareness," adds Dr. Rahman. "Despite lancets allowing for the improvement of the quality and efficiency of medical treatment, physicians are more comfortable abiding by traditional methods of vein puncture."

Most physicians lack the specialised training required to use lancets. The degree of unfamiliarity varies with medical specialty. The high price of the devices further restrains laboratory administrators from adoption. Medical communities will require a deliberate push to adopt the use of lancets as part of the diagnostic test process.

Lancet manufacturers are facing price pressure from competitors in the Pan Asia region (India, South Korea and China), where products are priced lower. As a result, lancet manufacturers in Europe are aggressively trying to reduce their unit production costs. However, since homecare lancets fall in a wide variety bracket (different needle and blade type lancets and each type capable of being further broken down to specific sizes), lowering unit costs through mass production of standardised outputs is impossible.

"Lean production or flexible manufacturing technologies designed to reduce set-up times for complex equipment, increase the utilisation of individual machines through better scheduling, and improve quality control at all stages of manufacturing process will enable companies to achieve enhanced efficiency, lower unit costs and customise their product offerings," advises Dr. Rahman. "By cutting down on the costs of unit production, companies will be able to confront the price war challenge and ensure competitive survival."

Global Lancets Market is part of the Medical Devices Subscription which also includes research in the following markets: European Markets for Wound Closure, European Markets for Wound Debridement, European Orthopaedic Implants Market and Introduction to Healthcare and Medical Devices in Poland. 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.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

Global Lancets Market
M079 - 54

Shwetha Thomas, Corporate Communications - South Asia & Middle East, Frost & Sullivan, +91 (022) 4001 3429 sthomas@frost.com

Melina Trevino, Corporate Communications - America, Frost & Sullivan, +210 247 2440 melina.trevino@frost.com

Source: Frost & Sullivan (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

India News / Press Releases on March 28, 2007

Wipro Technologies Appoints Hiroshi Alley as Chief Executive-Japan and China Operations
Business Wire India

DesiMartini.com Starts TV Campaign - Hopes to Excite Users
Business Wire India

Photograph  Shahpur to Leicestershire, a New Cricket Star is Born!
Business Wire India

Growing Use Within Home Settings Boosts Revenue Potential of Global Lancets Market
Business Wire India

Photograph  NRI's to Rock the Country with their Bhangra Groove
Business Wire India

Sukhvir Singh, the Son of a Bus Driver from Chandigarh is the 'Cricket Star'
Business Wire India

Photograph  ASUS India Introduces the R2H Ultra-Mobile PC for the New Mobile Computing Era
ASUSTek Computer Inc., India

Joint news release of Infineon Technologies and Hindustan Semiconductor Manufacturing Corporation
Ad-Factors PR

TeamLease releases Temp Salary primer 2007
Ad-Factors PR

ITC Infotech ranked in the Leaders Category for the 2007 Global Outsourcing 100
ITC Infotech

Also see International News / Press Releases on March 28, 2007

Suggested pages for your additional reading
AndhraNews.net on Facebook






© 2000-2017 AndhraNews.net. All Rights Reserved and are of their respective owners.
Disclaimer, Terms of Service & Privacy Policy | Contact Us