Self-monitoring Blood Glucose Strips Market - Industry Analysis and Opportunity Assessment from Technavio

Technavio has published a new report on the global SMBG strips market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio’s latest report on the global self-monitoring blood glucose (SMBG) strips market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

Srinivas Sashidhar, a lead analyst from Technavio, specializing in research on in-vitro diagnostics sector, says, “Continuous glucose monitoring devices along with blood glucose test strips have been effective for glucose monitoring in critical care and intensive critical care units. Regulatory authorities of healthcare in many developed and developing countries have imposed tight glycemic control protocols.”

The SMBG test strips market is mainly driven by an increase in the prevalence of diabetes and growing awareness about the importance of disease management. However, owing to the declining average selling price of SMBG test strips, the overall revenue of the market is expected to increase at a moderate rate during the forecast period.

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The top three emerging trends driving the global SMBG strips market according to Technavio healthcare and life sciences research analysts are:

Availability of test strips made from Indian silk

The wound healing properties of silk produced in India was discovered in 2014 by the scientists from Advanced Study in Science and Technology. The natural silk was combined with polypropylene to create a product with strong antibacterial properties and to improve wound healing. After extensive research, they found a new use of Indian silk in diabetes management.

The scientists in a laboratory in Bangalore, India, have worked and found a way to weave diabetic strips from silk. The manufacturing of tests strips from silk is easier compared to other material. The test strips made from plastic and paper are coated with enzymes that help glucose in turning to electricity, that can be read by the device having electrodes present in the material,” according to Srinivas.

Increasing adoption of home healthcare devices

Although diabetes is a chronic condition, it can usually be controlled with medication and a planned lifestyle. To measure the glucose levels in the blood, most people prefer portable medical devices such as BGM (blood glucose monitoring) devices. Blood glucose test strips and blood glucose meters have become a vital part of the healthcare management repertoire of individuals with diabetes.

Frequent blood glucose testing is necessary for effective diabetes management. Use of blood glucose test strips and meters at home can help individuals get accurate blood glucose level readings within seconds. This trend is expected to have a strong impact on the BGM Device market and the global SMBG strips market during the forecast period.

Increase in online marketing strategies

Vendors are increasing their online marketing activities to improve sales and brand equity. This not only provides customers with easy access but also helps vendors reduce their operational costs. For instance, leading vendors such as Roche Diagnostics and LifeScan provide blood glucose meters, blood glucose strips, and lancets online.

The key vendors are as follows:

  • Abbott Laboratories
  • Roche Diagnostics
  • LifeScan
  • Medtronic

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio's latest report on the global self-monitoring blood glucose (SMBG) strips market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com