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October 27, 2015.
The US and European diabetes diagnostics space will experience a revival as superior tests developed through the discovery of new markers, such as microalbumin or glycated albumin, will displace glucose tests and widen market scope, according to new analysis from Frost & Sullivan.
Analysis of the US and European Diabetes Diagnostics Market finds that the market earned revenues of $9.04 billion in 2014 and estimates this to reach $10.90 billion in 2020.
“In the next decade, non-invasive methods such as bio-sensor, near-infrared and disposable patches will essentially replace self-monitoring blood glucose tests,” said Frost & Sullivan Healthcare Industry Analyst Aish Vivekanandan. “Pioneering non-invasive technologies like Google’s tear-analyzing contact lenses and Miraculins’s non-invasive POCT will transform diabetes diagnostics.”
With the self-monitoring blood glucose segment stalled by strict reimbursement policies, companies like Roche and Bayer are reshuffling their diabetes divisions, as well as scouting for acquisitions and partnerships to minimalize losses and boost profitability, Frost & Sullivan reports.