Increasing Diabetic Population Key Driver for Blood Glucose Test Strips

London, UK, September 23, 2011 -- A recently published report by Technavio, specialists in emerging technologies market research, reveals that the Global Blood Glucose Test Strips market is expected to grow at a CAGR of 8.7 percent over the period 2010–2014. The report, which covers the Americas as well as the EMEA and APAC regions, indicates that the market is being driven by the growing number of diabetic patients across regions.

According to Technavio’s industry analyst, “There is an increase in the number of diabetic patients across the world as a result of changing lifestyles and genetic predisposition. More than 25 percent of the US population suffers from diabetes. As a result, the demand for blood glucose diagnosis performed at hospitals, diagnostic centers, and at homes has seen a significant increase.”

The report also highlights that the presence of counterfeit products is hindering the growth of this market. However, the low price of these blood glucose test strips is expected to keep driving demand. This market is also marked by the increased adoption of diabetes management at home. These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.

Technavio’s report, Global Blood Glucose Test Strips Market 2010–2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market.

Companies mentioned in this report include Hoffmann-La Roche, LifeScan, Abbott Diabetes Care, and Bayer Diabetes Care.

For further information and to obtain your copy of this report, please visit http://www.technavio.com/content/global-blood-glucose-test-strips-market-2010-2014.

About Technavio

Technavio is the research platform of Infiniti Research.

Infiniti Research provides actionable market, strategic, competitive and customer intelligence to leading companies worldwide. A team of 120 analysts with specialization in different sectors, conduct research in more than 50 countries (including all OECD and extended BRIC countries), and in more than 20 languages (including French, German, Mandarin, Japanese, Korean, Spanish, Portuguese and Hindi).

Technavio reports are based on a robust research model with critical insights from industry experts. Technavio focuses on niche and emerging technologies.

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This release was published on openPR.