Blood Glucose Meters and Strips: A Global Strategic Business Report
San Jose, CA (PRWEB) November 14, 2011
Follow us on LinkedIn – With diabetes epidemic underway, strong potential exists for diabetes management tools, such as blood glucose meters and strips worldwide. Use of blood glucose strips to measure blood glucose levels has become well established. The absence of diabetes cure, growing patient awareness along with the availability of blood glucose meters at nominal price or free-of-Cost and encouraging reimbursement policies are key market growth drivers. With diabetics reaching epidemic proportions, there has been increased stress on frequent blood glucose testing. The current scenario translates into burgeoning for the blood glucose meters and strips market. Increasing post-parandial or after-meal glucose testing, in both Type I and Type II diabetics is another growth driver for blood glucose meters and testing strips. Spot monitoring technology is expected to remain the major technology for blood glucose monitoring for the coming years. The need for more frequent testing to better understand individual patients' glucose level trends and enhance personal treatment protocols is fueling continuous technological advancements in glucose monitoring products.
The market for self-monitoring blood glucose meters and strips was adversely impacted by the economic slump, as tightened budgets forced several consumers to change their spending and purchasing behavior. Sales of leading diabetes medicines, blood glucose monitors, test strips, and other products plunged considerably. Nevertheless, despite the economic constraints and growth declining over the previous years, sales volume of self-monitoring blood glucose meters and strips continued to remain upbeat.
As stated by the new market research report on Blood Glucose Meters and Strips, the US continues to remain the largest regional market. The US market is primarily driven by increased health consciousness among diabetics, coupled with the arrival of sophisticated and patient-friendly devices. Ready insurance coverage for diabetes testing equipment and supplies is another growth spurring factor. Asia-Pacific represents the fastest growing regional market displaying a CAGR of about 19.7% over the analysis period. Due to the breadth of existing and potential benefits of SMBG meters, increasing number of healthcare providers are encouraging the sales of devices for effective management of disease condition. The growing inclination towards home care is expected to drive the future market for blood glucose meters in Asia-Pacific. Other key factors for heightened demand of SMBG meters include convenience afforded in terms of disease management, and better quality of life. Blood glucose strips market continues to be the largest and the fastest growing segment. Affordable cost of blood glucose test strips, and increase in daily monitoring, contributes for market growth.
Major players in the marketplace include Abbott Diabetes Care, Inc. All Medicus Co. Ltd Arkray USA, Inc. Bayer Healthcare LLC, Diabetes Care Bionime Corp. Braun Melsungen AG DexCom, Inc. Hainice Medical Inc. LifeScan, Inc. Nipro Diagnostics, Inc. Nova Biomedical Roche Diagnostics Corp. Sanwa Kagaku Kenkyusho Co., Ltd. and Terumo Europe NV.
The research report titled "Blood Glucose Meters and Strips: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for product segments Blood Glucose Strips and Blood Glucose Meters, across geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia Pacific, Latin America and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Blood_Glucose_Meters_and_Strips_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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