Asia Pacific Blood Glucose Test Strip Market is Expected to grow at a CAGR of 5.80% by 2030

Pune, India, September, 2022 /MRFR Press Release/- Market Research Future published a half-cooked research report on Asia Pacific Blood Glucose Test Strip Market. 

Market Scenario

Asia Pacific Blood Glucose Test Strip Market is projected to reach USD 3415.49 Million by 2030 at 5.80% CAGR during the forecast period 2022-2030

Blood glucose test strip are small & disposable and they are used to monitor the blood glucose level. It plays an important role in the blood glucose monitoring and treatment of diabetes. Total diabetic population in China is 113 million, which accounts 11% of total Chinese population, whereas 67 million people in India have diabetes. Additionally, 20% of population from most of the South Indian cities have diabetes. According to a study, China has the highest smoking rate and smoking increases the chances of developing diabetes by 45% as compare to non-smoker, which, in turn, will drive the growth of the market over the assessment period.

Many countries in Asia Pacific are developing rapidly. The people living in this region are attracted to the western culture and sedentary life, which make them more prone to different metabolic diseases and lifestyle related diseases, for instance, diabetes and obesity. Majority of the population in Asia Pacific region smoke, which is another factor responsible for development of diabetes. Different types of test are available to monitor the blood glucose level such as oral glucose tolerance test, postprandial blood sugar, random blood sugar testing, and others.  

The blood glucose test strip market is increasing due to increasing diabetic population, developing technology, increasing R &D in diabetes, increasing awareness among the people, and improving diagnosis and treatment techniques for diabetes. On the other hand, high cost of the strips and introduction of sensor technology, which continuously monitor and indicate blood glucose level may hamper the growth of the market.   

Segmentation

Asia Pacific blood glucose test strip market is segmented on basis of types, technology and end users. On the basis of types, the market is segmented into glucose oxidase, glucose dehydrogenase, and other.

On the basis of technology, the market is segmented into wicking technology and channel technology.

On the basis of end user, the market is categorised in hospital, clinic, homecare, and others

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Regional Analysis

Asia Pacific region is segmented into Japan, China, India, Australia, Republic of Korea, and Rest of Asia Pacific. India and China are two most populated countries in this region, which together accounts for 180 million of diabetic patient. Increasing diabetic population in these countries has attracted many of the multinational companies to enter in the market. Overweight and obesity are majorly responsible for developing diabetes. Additionally, poor diet plan and lack of exercise contribute to the increasing diabetic population and India and China have the huge obese and overweight population. Thus, increasing prevalence of diabetes, & obesity, increasing demand for the homecare devices, and increasing healthcare expenditure drive the market growth. Moreover, increasing per capita income and increasing awareness will push the market growth over the forecasted period.

Some of the major key players in the market are F. Hoffmann-La Roche Ltd (Switzerland), Abbott (US), LifeScan, Inc. (US), i-SENS. Inc. (South Korea), AgaMatrix (US), TaiDoc Technology Corporation (Taiwan), BioSensors, Inc. (US), Universal Biosensors (Australia), Beijing Yicheng Electronic Co., Ltd (China), Hmd Biomedical (Taiwan), and B. Braun Melsungen Ag (Germany).