Sales of Disposable Diabetes Testing Supplies to Exceed 5% Annual Growth

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Jul 25, 2018, 12:27 ET

CLEVELAND, July 25, 2018 /PRNewswire/ -- Demand for disposable diabetes testing supplies is expected to increase 5.1% annually to more than $3.9 billion in 2022. Factors underlying growth will include an increasing number of diagnosed diabetes cases, preferences for higher value-added consumables, and trends promoting greater preventive medicine activities. Advances in the performance properties and convenience of blood glucose monitors are encouraging diabetic patients to comply with regular testing recommendations, resulting in favorable unit demand gains for complementary test strips and discs as well as supplies like lancets. These and other trends are presented in Disposable Medical Supplies in the US, 15th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/disposable-medical-supplies-3631.htm

Demand for blood glucose test strips is predicted to rise 5.1% annually to over $3.2 billion in 2022. The expanding volume of diagnosed diabetes cases and the increased compliance of patients with recommended testing guidelines will underlie gains. In addition, reimbursement rates for diabetes testing supplies are expected to remain stable over the next several years and not be subjected to a sharp cutback similar to the one imposed by the Medicare program in 2013.

US demand for all types of disposable medical supplies is projected to increase 4.1% per year to $66.6 billion in 2022. Aging demographics and evolving epidemiological trends will underlie gains by promoting a rise in the total volume of patient activity.

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About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Healthcare & Life Sciences studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group