Global Blood Glucose Test Strip Market Size, Share | Industry Analysis Report 2023

Blood Glucose Test Strip Market – Overview

Blood Glucose Test Strips are useful for medical tests. They are small disposable strips used in conjugation with blood glucose meters in order to monitor and control diabetes. Market Research Future (MRFR) has published and released a research report about the global blood glucose test strip market that predicts growth for this market between 2017 and 2027.

Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this report covers and observes the competitive developments of market players that include mergers and acquisitions, joint ventures, new product developments, research and developments (R&D), and strategic alliances.

The major factors contributing to the growth of the global blood glucose test strip market are increasing geriatric population, the rising prevalence of diabetes, and rapid urbanization. Other important reasons aiding the market growth are changing lifestyle, increasing spending on healthcare, and increasing awareness about the health hazards caused by lack of glucose.

The global blood glucose test strip market has been segmented on the basis of technology and region. The technology-based segmentation segments the market into optical technology, thick film electrochemical, and thin film electrochemical. Optical coherence tomography (OCT) is an imaging technique used for medical imaging and sometimes for glucose monitoring.

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Blood Glucose Test Strip Global Market – Competitive Analysis

The market of Blood Glucose Test Strip is fiercely competitive as well as fragmented due to the presence of numerous matured & small key players in the market. These market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch. Heavy investments are transpired in the R&D to develop a completely different technology compared to their competition. 

Blood Glucose Test Strip Market – Key Players

Some of the key players for Blood Glucose Test Strip Market are:

·         Abbott Laboratories

·         Acon Laboratories, Inc

·         Allmedicus

·         Apex Biotechnology Corporation

·         Ascensia Diabetes Care Holdings Ag

·         B.Braun Melsungen Ag

·         HMD Biomedical

·         I-Sens, Inc.

·         Lifescan, Inc.

·         Roche Diagnostics

·         Taidoc Technology Corporation

Industry, Innovation & Related News:

April 13, 2018 – Livongo Health (US) a start-up developing connected devices and software for diabetics and other chronic conditions. The company completely devoted to providing cost-competitive aid for diabetes, has already developed its own glucometer & apps providing accurate readings. Livongo, also ships test strips to patients at no additional cost. The company announced that it has bagged the investment for USD 105 million to support the further development of its technology and a partnership from Cambia Health Solution. 

April 2018 Pops! Diabetes Care, which is a Twin Cities device maker has registered its first patient in their clinical study which it is backing to see whether their device named, Pops! One, can effectively monitor blood-sugar levels for diabetics. They are also additionally partnering with the Children's Minnesota health care system on a six-month research of 50 young patients who have been diagnosed with type 1 diabetes. They will use the Pops device to record their blood-glucose levels and alert them when they need to inject insulin. The most noticeable piece is the blood-testing device which is slightly smaller than a typical smartphone which contains a disposable cartridge with a glucose meter and three tiny lancets that have been designed so that they are less painful and easier than using a conventional finger-stick unit with individual test strips. The individual replacement cartridge can be used for up to three tests.

Blood Glucose Test Strip Market – Regional Analysis

North America market leads the Global Blood Glucose Test Strip Market with the significant market share. The market is further expected to reach astronomical amounts growing at a substantial CAGR throughout the forecast period (2017-2027). Well-developed healthcare sector, increasing prevalence of diabetes in the U.S. & Canada coupled with the high per capita healthcare expenditures of these economies, together drive the regional market growth. Moreover, presence of some of the matured market players fuels the market growth.

Europe & Asia Pacific is the second & third largest market respectively in the Global Blood Glucose Test Strip Market. Expected to be a fastest growing market Asia pacific region is estimated to grow rapidly over the projected period. Increasing healthcare expenditures along with favorable government policies of developing economies like India and China foster the market growth in APAC.

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While the world’s second largest market of Blood Glucose Test Strip, Europe is predominantly driven by the availability of funds for research, well-developed healthcare infrastructure, huge patient population, & government support for research & development. Besides, economies having high healthcare expenditures such as the UK & Germany propel the growth of the Europe market. 

Blood Glucose Test Strip Market – Segments

The Blood Glucose Test Strip Market can be segmented in to 2 key dynamics for the convenience of the report and enhanced understanding;

By Technologies: Comprises Thick Film Electrochemical, Thin Film Electrochemical, & Optical among others

By Regions:  North America, Europe, APAC and Rest of the World.

Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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