Global Blood Glucose Test Strip Market Research Report - Forecast to 2030

Blood Glucose Test Strip Market Research Report Information by Technology (Thick Film Electrochemical, Thin Film Electrochemical, Optical) - Forecast to 2030

ID: MRFR/MED/0390-CR | 110 Pages | Author: Kinjoll Dey | June 2016         

Market Synopsis of Blood Glucose Test Strip Market:


The Blood Glucose Test Strip Market is expected to reach USD 32,647.32 Millionby 2030 at 7.2% CAGR during the forecast period 2022-2030.Market Scenario: Blood glucose test strips are small disposable strips which are used in conjugation with blood glucose meters for monitoring and controlling diabetes. These strips have glucose oxidase impregnated on them, which when reacts with glucose present in the blood gluconic acid. 


Thin paper or plastic strips called blood glucose test strips are employed to check blood glucose levels and assist in managing diabetes. The prevalence of diabetes is steadily rising worldwide, particularly in North America, which is driving up demand for blood glucose test strips. The term "blood glucose test strip market" describes the area of the medical diagnostics market dedicated to manufacturing, supplying, and retailing disposable strips used to measure blood glucose levels in diabetics. The blood glucose meter, a portable device that offers a digital readout of the blood glucose level, is intended to be used with these test strips. The rising popularity of self-monitoring glucose testing drives the global market for blood glucose test strips.


Individuals prefer to use glucometers for personal use since they are simple. The long-term wellness of diabetics and the primary avoidance of chronic diabetes complications both depend on strict glucose management. Patients with diabetes are taught how to manage their daily capillary glucose levels to keep them within desired ranges. Doctors frequently use blood glucose meters to monitor critically ill individuals and those with diabetes to self-manage their disease. Glucometers accurately deliver blood glucose values in a matter of seconds. The COVID-19 patient has highlighted the significance of blood glucose test strips by suggesting that a patient's blood glucose could be monitored throughout hospitalization to prevent aggravation. Governments, healthcare providers, and insurers are concentrating on managing illnesses and preventative treatment to lower healthcare costs.


Healthcare professionals can deliver quicker and more effective care through point-of-care diagnostic tests. Point-of-care diagnostics that are easy, quick, economical, and require little to no energy, a laboratory, or highly skilled personnel are becoming extensively utilized in low- and middle-income nations for several common illnesses. These point-of-care diagnostics present a once-in-a-lifetime chance to minimize health disparities and support LMICs in achieving sustainable development goals for their health. This emphasis opens possibilities for routine testing, such as blood glucose test strips and proactive monitoring.


Study Objectives of Blood Glucose Test Strip Market:



  • To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Global Blood Glucose Test Strip Market

  • To provide insights about factors affecting the market growth

  • To Analyze the Global Blood Glucose Test Strip Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.

  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (RoW)

  • To provide country level analysis of the market with respect to the current market size and future prospective

  • To provide country level analysis of the market for segments by Technology, and sub-segments.

  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Blood Glucose Test Strip Market.


Key Players for Blood Glucose Test Strip Market: Some of the key players for this 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 Segments: The market for Blood Glucose Test Strip market is segmented on the basis of Technology which includes sub segments like Thick Film Electrochemical, Thin Film Electrochemical and Optical.


News:


The University of Washington and UW Medicine researchers may have discovered a sweet spot for improving prediabetes early diagnosis. The group created a new method that measures blood glucose levels without using a separate reader by utilizing the capacitive touch-sensing abilities of any smartphone. Most current screening procedures call for a trip to a hospital for lab work or installing a portable glucometer for testing at home. Widespread screening is hampered by cost and accessibility. In traditional screening, a drop of blood is applied to a test strip, where the enzymes cause the blood to react chemically. They used the same test strip and inexpensive hardware to transmit information resulting from that reaction for any smartphone via simulated screen-tapping. The study's findings indicate that GlucoScreen's accuracy is on par with conventional glucometer testing. The approach was proven reliable at the critical cutoff point between normal blood glucose levels, defined as levels within 100 and 125 mg/dL, and prediabetes.


Regional Analysis of Blood Glucose Test Strip Market: North America is a prominent market for Blood Glucose Test Strip market and dominated the Global market share, for Blood Glucose Test Strip market accounting for $XX million and is expected to grow over $XX billion by 2027. The European market is the second largest market for Blood Glucose Test Strip market which is expected to grow at XX% GAGR by the end of the forecasted period.


 Americas


·   North America


·   US


·   Canada


·   Latin America


Europe


·   Western Europe


·   Germany


·   France


·   Italy


·   Spain


·   U.K


·   Rest of Western Europe


·   Eastern Europe


Asia– Pacific


·   Asia


·   China


·   India


·   Japan


·   South Korea


·   Rest of Asia


·   Pacific


The Middle East & Africa The report for Global Blood Glucose Test Strip market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 32,647.32 Million
  CAGR   7.2%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors and Trends
  Segments Covered   Technology, End user
  Geographies Covered   North America, Europe, Asia-Pacific and Rest of the World (RoW)
  Key Vendors   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
  Key Market Opportunities   New product developments
  Key Market Drivers ·  Epidemic of diabetes ·  Increased impetus on the healthcare




Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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