Diabetes a metabolic condition that occurs due to insufficient production of insulin. Blood glucose monitoring is a routine procedure for monitoring the glucose level. Blood glucose strip market is continuously growing in the Asia pacific region. These devices monitor the glucose level in the blood. Different types of strips are available in the market having impregnate of glucose oxidase, glucose dehydrogenase and other type of enzymes. When blood comes in the contact with this enzymes, they react with the glucose in the blood and indicates the blood glucose level. Advances and development in the technology has introduced the number of different devices in the market. The major driving factor for the Asia Pacific blood glucose test strip market is continuously increasing diabetes population. Diabetic population is constantly increasing and glucose level monitoring is an important part of diagnosis and treatment of diabetes. Patient with diseases, for instance, diabetes can now live longer and healthier life due to continuously monitoring of disease. Additionally, increasing awareness about preventive care of various diseases, rising obese population, and changing lifestyle boosting the growth of the Asia Pacific blood glucose test strip market. However, lack of accuracy and relatively high chances of false positive results may slow the growth of the Asia Pacific blood glucose test strip market.
Asia Pacific blood glucose test strip market is expected to grow at a CAGR of 6% during the forecasted period of 2017- 2023.
Figure- Asia Pacific blood glucose test strip market, by types
Source- World Health Organization (WHO, white paper, company presentation, annual report
Some of the major key players in the Asia Pacific blood glucose test strip 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).
On the basis of types, the Asia Pacific blood glucose test strip market is segmented into glucose oxidase, glucose dehydrogenase, and other.
On the basis of technology, the Asia Pacific blood glucose test strip market is segmented into wicking technology and channel technology.
On the basis of end user, the Asia Pacific blood glucose test strip market is categorised in hospital, clinic, homecare and others
Asia Pacific blood glucose test strip market is segmented into Japan, China, India, Australia, Republic of Korea and Rest of Asia Pacific. It is the fastest growing region in the global blood glucose strip market. The diabetic population in Asia Pacific is increasing continuously, which is the major driver the market. According to the World Health Organization (WHO), total diabetic population of India and China in 2012 was 61 million and 90 million respectively. Moreover, increasing awareness among the people, increasing healthcare expenditure and rising obese population have fuelled the growth of the market. China and India are the two major contributor to the Asia Pacific glucose test strip market owing to the presence of huge diabetic population.
Source: World Health Organization (WHO, white paper, company presentation, annual report