Lower Average Prices Will Affect Global Market for Blood Glucose Test StripsPosted by praneeth on June 12th, 2018 At 3.15% year on year, growth by value in the global market for blood glucose test strips has been over two percentage points slower than growth by volume, a report from The Business Research Company shows. The gap will narrow going forward, but persist, so that the market in 2021 will be worth .9 billion, nearly billion lower than it would have been had prices held up at their 2013 level. To a large extent the gap between volume and value growth up to 2017 was because while growth accelerated in all regions, it grew much faster in emerging regions like Asia Pacific and Africa, where prices were substantially lower, than in North America, which in 2017 accounted for 47% of the total. Growth in the market in North America in 2013-2017 suffered from both price and volume cuts due to reimbursement issues but the market stabilized by 2017. Asia Pacific on the other hand has seen continuously rising growth in the blood glucose test strips market from 2013 through to 2021, but without the spurt put on in North America. America. The price of blood glucose strips varies greatly across regions. The price is high in developed countries compared to less developed countries. In the USA the price of a single blood glucose test strip is around USD 0.75. In the UK, Germany, France, Italy, and Spain the price of a single blood glucose test strip is in the region of USD 0.4-USD 0.6. In less developed economies like India, China and Africa, the price is approximately USD 0.1-USD 0.2 per strip. Major trends in the market include changes that will lower prices. These include the development of generic brands. Generic blood glucose test strips are third-party strips that work with a variety of blood glucose meters and are much less expensive than their counterparts. They have been proven to perform similar to or even exceed the FDA accuracy standards for blood glucose test strips. For example, Pharma Tech Solutions, a California-based company distributes Shasta GenStrip, a more affordable alternative that can be used with One Touch and Ultra brand meters. Other generic strip brands in the market include Unistrip, GenUltimate, Equate and Relion. Where to Learn More Read the Blood Glucose Test Strip Market Global Report 2018 from The Business Research Company for information on the following: Markets Covered: Blood glucose test strip market, blood glucose strips using glucose dehydrogenase, blood glucose strip using glucose oxidase, thick film, th in film and optical blood glucose strips Regions: North America, Asia Pacific, Western Europe, South America, Eastern Europe, Middle East, Africa. Countries: USA, China, Japan, Germany, Brazil, France, Italy, UK, Australia, India, Spain, Russia. Data: Blood glucose test strip market size and growth for 7 regions and 12 countries; global regional and country blood glucose test strip market size and growth segmented by type of technology and by electrode material; global, regional and country blood glucose test strips per capita consumption and market size as a percentage of GDP 2013-21; Roche, Johnson & Johnson, Ascensia, Abbott, Nipro Diagnostics, Terumo, Arkray, Omron financial performance 2013-21 Other Information: PESTEL analysis, drivers and restraints, customer and operational insights, blood glucose test strip market by region and country covering opportunities, associations, investment and expansion plans, corporate tax structure and competitive landscape; blood glucose test strip market trends and strategies. About The Business Research Company. The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally. Contact Information. The Business Research Company Europe: +44 207 1930 708 Asia: +91 8897263534 Americas: +1 315 623 0293 Email: info@tbrc.info Like it? Share it! More by this author |