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Sales of Glucose Strips in North America Driven by Growing Awareness of Need for Glucose Monitoring - Sales of glucose strips in North America have received a boost from enhanced awareness of the importance of blood glucose management, the greater implementation of tight glycemic control protocols at point of care and the increasing number of diabetics
Sales of Glucose Strips in North America Driven by Growing Awareness of Need for Glucose Monitoring

 

NewswireToday - /newswire/ - Palo Alto, CA, United States, 2008/06/23 - Sales of glucose strips in North America have received a boost from enhanced awareness of the importance of blood glucose management, the greater implementation of tight glycemic control protocols at point of care and the increasing number of diabetics.

   
 
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Sales of glucose strips in North America have received a boost from enhanced awareness of the importance of blood glucose management, the greater implementation of tight glycemic control (TGC) protocols at point of care (POC) and the increasing number of diabetics. In order to gain a foothold, market entrants must offer innovative technologies.

New analysis from Frost & Sullivan (patientmonitoring.frost.com), North American Glucose Strips Markets, finds that the market earned revenues of over $3.09 billion in 2006 and estimates this to reach $4.77 billion in 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the North American Glucose Strips Markets, send an email to Sara Villarruel, Corporate Communications, at svillarruel_pr[.]frost.com, including the following: your full name, company name, title, telephone number, company email address, company website, city, state and country. We will send an overview to you via email upon receipt of the above information. For media inquiries reply directly to sara.villarruel[.]frost.com.

New entrants find it difficult to tap the growth and profit potential of the glucose strips and meter market due to high competition. Currently, four medical technology companies control about 90 percent of the glucose strips market, thereby forcing other market participants to serve niche markets. Entrants should compete with established market participants by offering innovative technology, rather than the same strip and meter gadget. The introduction of continuous glucose monitoring (CGM) systems serves as an example.

However, CGM systems will not greatly impact the glucose strips market as glucose strips are more cost-effective for monitoring blood glucose levels. Since the sales of these strips are dependent on the meter used, companies need to focus on marketing their meters.

Furthermore, the pressure exerted by diabetes-related costs on the U.S. healthcare economy has driven the expansion of diabetes education programs. Manufacturers of glucose monitoring equipment are investing substantially in awareness campaigns.

"The decrease in customer loyalty compels manufacturers to increasingly invest in marketing to maintain their customer bases," notes Frost & Sullivan Research Analyst Mike Arani. "This need is strengthened by the generic brands offered by pharmaceutical chains."

To counter the threat from lower cost generic strips, existing market participants should seriously consider outsourcing manufacturing. Brand building by established participants will likely offset the challenge posed by generics.

"Meanwhile, the growing number of diabetics, identified by increased screening, is set to generate greater demand for glucose strips in North America," says Arani. "Diabetics that need to inject insulin regularly have to monitor their blood glucose levels more frequently."

Products designed for this self-management of blood glucose (SMBG) segment have to be comfortable, easy to use, and painless, as testing is frequent. Apart from self-monitoring, glucose levels are also checked at the POC, especially in the intensive care unit segment. However, the major market share for glucose strips will likely remain with the self-management segment.

North American Glucose Strips Markets is part of the Patient Monitoring Growth Partnership Service program, which also includes research in the following markets: U.S. External Defibrillators Market, North American ECG and Cardiac Monitoring Products Markets, North American Cardiac Monitoring and Diagnostic Services Markets, North American Medical Display Monitors Markets, North American Capnography and Anesthesia Agent Monitoring Equipment Markets, U.S. Home Health Care Market for Remote Patient Monitoring Services, U.S. Positive Airway Pressure Therapy Devices Markets, and U.S. Sleep Apnea Diagnostic Devices Markets. All research services 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, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

North American Glucose Strips Markets / F799

 
 
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Sales of Glucose Strips in North America Driven by Growing Awareness of Need for Glucose Monitoring

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Frost & Sullivan |
Publisher Contact: Sara Villarruel 
210.477.8448 sara.villarruel[.]frost.com
 
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