PALO ALTO, Calif. It’s not just the rising number of diabetics that are helping to drive ever-higher sales of the testing strips used in conjunction with a blood glucose meter, Frost & Sullivan stated Monday, glucose strips in North America have received a boost from enhanced awareness of the importance of blood glucose management and greater implementation of tight glycemic control protocols at point of care.
The healthcare cost pressures associated with diabetes has helped feed that expansion of diabetes education programs, the report states, prompting many manufacturers of glucose monitoring equipment to invest substantially in awareness campaigns as a defensive measure to maintain market share. “The decrease in customer loyalty compels manufacturers to increasingly invest in marketing to maintain their customer bases,” noted Frost & Sullivan research analyst Mike Arani. “This need is strengthened by the generic brands offered by pharmaceutical chains.”
According to the new F&S report, sales of glucose strips alone reached higher than $3.1 billion in 2006 and are projected to grow to $44.8 billion by 2013.