Blood Glucose Test Strip Market Research Report- Forecast till 2027

Blood Glucose Test Strip Market Trends, Growth And Share Analysis By Technology (Thick Film Electrochemical, Thin Film Electrochemical, Optical) - Forecast Till 2027

ID: MRFR/MED/0470-CR | February 2021 | Region: Global | 80 pages

Blood Glucose Test Strip Market Analysis


Blood glucose test strip is a small disposable plastic strip and is an important component of blood glucose meters that monitors and controls diabetes. These strips are impregnated with glucose oxidase, which reacts with glucose present in the blood and then indicate the glucose level in the blood.


The convenience offered by the self-blood glucose testing over the traditional methods is one of the major drivers of the blood glucose test strip market. The self-testing allows the diabetic and the pre-diabetic people to keep a track of their blood glucose level regularly without visiting a clinic or diagnostic laboratory. A diabetic patient is expected to test his sugar at least 2-3 times a day, self-testing allows the patient to perform his test regularly at his home. Rising diabetic population is another major driver of the blood glucose test strip market. Diabetes is one of the major concerns for the government bodies across the globe. The number of diabetic population across the world is rising continuously. According to the International Diabetic Federation, about 415 million people had diabetes across the globe in 2015, and this number is poised to reach 642 million by 2040. Financial support by the governments is an important economic driver of the market due to its effects on the demand for blood glucose strips. For example, Australian Government is taking various initiatives to increase the usage of blood glucose monitors and test strips. The government has implemented Pharmaceutical Benefits Scheme (PBS). According to this scheme, the blood glucose test strips are provided to the Australian at a government-subsidised prices. Moreover, the foreign visitors from the countries such as the U.K., Ireland, New Zealand, Malta, Italy, Sweden, the Netherlands, Finland, Norway, Belgium and Slovenia are also covered under this scheme. The other drivers for blood glucose test strips market are technological advancements such as accuracy of the test, awareness about diabetes, etc. Rising disposable income of emerging economies is another economic driver of the market. For example, annual disposable income of middle class households in India was $1,366.2 billion in 2010, which reached $1,587.6 billion in 2013.


The blood glucose test strip market restraints are inadequate reimbursement for test strips etc. For example, in March 2013, Medicare announced reimbursement cuts for diabetes testing supplies (DTS) up to 72%. According to new reimbursement policies, diabetic beneficiaries, who receive their glucose-testing supplies delivered to their homes will need to obtain them from 1 of 18 contract suppliers chosen by Medicare via a competitive bidding process. This new plan will help the government to reduce healthcare expenditure. However, it can drastically reduce the number of vendors from which diabetic patients can obtain glucose-testing supplies. Furthermore, this amendment can also lead to disruption in the supplies of blood glucose monitoring accessories, which could result into decline in self-monitoring of glucose and subsequent adverse outcomes.


The global big data in the blood glucose test strips market is expected to reach US$ 18.5 billion by 2020, and the market is projected to grow at a CAGR of ~ 6.2 % during the forecast period 2015-2020.


Key Findings:




  • In 2015, Thick Film Electrochemical strips generated the largest revenue of $ 6.4 billion by technology




  • Thin Film Electrochemical segment generated revenue of US$ 5 billion in 2015 by technology




  • North America accounted for the largest revenue of US$ 7.89 billion for blood glucose test strips in 2015, by geography




Research Methodology


Sources: U.S. Department of Health and Human Services National Institutes of Health, Centers for Disease Control and Prevention, Mayo Clinic, MRFR Analysis Intended Audience



  • Global blood glucose test strip manufacturers & suppliers

  • Research and development (R&D) companies

  • Hospitals and clinics

  • Academic institutes and universities


Figure 1           Global blood glucose test strip market by analytics service technology, 2015 (% market share)


 


Blood Glucose Test Strip Market Segments 


The global blood glucose test strip market has been segmented on the basis of technology. On the basis of technology the blood glucose test strip market has been segmented into thick film electrochemical, thin film electrochemical, and optical. 


Blood Glucose Test Strip Market Regional analysis 


The Americas holds a significant market share of the global market owing to extensive use of information technology and high expenditure on the health care. Additionally, the fastest uptake of new technology and the presence & concentration of medical device manufacturers in the US regions drive the blood glucose test strip market.


North America led the global blood glucose test strip market with revenue of $ 7.89 billion in 2015.


Europe is the second largest market in the globe due to a high healthcare expenditure, which is led by Germany and France.


Asia Pacific region is expected to grow rapidly; China and India are likely to lead the blood glucose test strip market due to unmet needs during the forecasted period. APAC is expected to grow at a higher CAGR of 12.9 % than the other regions because of increasing number of diabetic population in this region.


Gulf nations such as Saudi Arabia and the UAE drive the Middle East & African blood glucose test strip market. The African region is expected to witness a moderate growth owing to poor economic & political conditions and poor healthcare development. 


Key Players in the Global Blood Glucose Test Strip Market


Some of key players profiled in the report are 



  • Abbott

  • Roche Diagnostics

  • LifeScan

  • i-SENS

  • Bayer Diabetes Care

  • AgaMatrix Inc

  • Elektronika

  • Universal Biosensors

  • Nipro Diagnostics

  • TaiDoc

  • Apex Biotechnology Corp

  • Braun

  • HMD BioMedical Inc.

  • ALL Medicus

  • SANNUO

  • Beijing Yicheng Electronics

  • Betachek National Diagnostics

  • Shanghai MicroSense

  • Jiangsu Yuyue

  • ACON Laboratories 


The report on the global blood glucose test strip market by 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 a deeper insight of the blood glucose test strip market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different blood glucose test strip market segments and regions.



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Frequently Asked Questions (FAQ) :


Global Blood Glucose Test Strip Market size can touch a valuation of USD 18.5 billion by 2020.

Global Blood Glucose Test Strip Market is expected to accrue revenues at a CAGR of 6.2% from 2020 to 2027.

Heavy prevalence of diabetes is the major growth driver of the Global Blood Glucose Test Strip Market.

Global Blood Glucose Test Strip Market growth can be hampered by inadequate reimbursement schemes.

North America is the best-performing region within the Global Blood Glucose Test Strip Market.

TaiDoc, AgaMatrix Inc, Jiangsu Yuyue, Elektronika, Nipro Diagnostics, Abbott, ACON Laboratories, SANNUO, HMD BioMedical Inc., Beijing Yicheng Electronics, i-SENS, Betachek National Diagnostics, LifeScan, Universal Biosensors, Roche Diagnostics, B. Braun, Bayer Diabetes Care, Apex Biotechnology Corp, Shanghai MicroSense, and ALL Medicus are some of the biggest players in the Global Blood Glucose Test Strip Market.

1 INTRODUCTION

1.1 DEFINITION

1.2 SCOPE OF THE STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH PROCESS

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 FORECAST INDICATORS

3.1 GROWTH DRIVERS

3.1.1 CONVENIENCE OF SELF BLOOD GLUCOSE MONITORING OVER TRADITIONAL METHODS

3.1.2 TECHNOLOGICAL ADVANCEMENTS

3.1.3 RISING DIABETIC POPULATION

3.1.4 PLAYERS ENGAGED IN CREATINGAWARENESS REGARDING REGULAR BLOOD GLUCOSE MONITORING

3.1.5 GOVERNMENT INITIATIVES TO PROPEL AUSTRALIAN BLOOD GLUCOSE TEST STRIP MARKET

3.1.6 RISING DISPOSABLE INCOME OF EMERGING ECONOMIES

3.2 GROWTH BARRIERS

3.2.1 INADEQUATE REIMBURSEMENT FOR TEST STRIPS

3.2.2 LOW ADOPTION OF SMBG IN EMERGING ECONOMIES AS COMPARED TO DEVELOPED REGIONS

3.2.3 ADVENT OF GENERIC BLOOD GLUCOSE TEST STRIPS

3.3 OPPORTUNITIES

3.3.1 EMERGING ECONOMIES

4 GLOBAL BLOOD GLUCOSE TEST STRIP MARKET

5 BLOOD GLUCOSE TEST STRIP MARKET, BY TECHNOLOGY

6 BLOOD GLUCOSE TEST STRIP MARKET, BY REGION

6.1 NORTH AMERICA

BLOOD GLUCOSE TEST STRIP MARKET, BY TECHNOLOGY

6.2 EUROPE

BLOOD GLUCOSE TEST STRIP MARKET, BY TECHNOLOGY

6.3 ASIA-PACIFIC

BLOOD GLUCOSE TEST STRIP MARKET, BY TECHNOLOGY

6.4 LATIN AMERICA

BLOOD GLUCOSE TEST STRIP MARKET, BY TECHNOLOGY

6.5 MIDDLE EAST & AFRICA

BLOOD GLUCOSE TEST STRIP MARKET, BY TECHNOLOGY

7 COMPETITIVE LANDSCAPE

7.1 PRODUCTION CAPACITY

7.2 MARKET SHARE ANALYSIS

7.2.1 GLOBAL

7.2.2 NORTH AMERICA

7.2.3 EUROPE

7.2.4 ASIA-PACIFIC

7.2.5 LATIN AMERICA, MIDDLE EAST, AND AFRICA

7.3 COMPARATIVE ANALYSI

7.3.1 COMPARATIVE ANALYSIS: KEY PLAYERS

8 COMPANY PROFILES

8.1 ABBOTT LABORATORIES

8.1.1 BUSINESS OVERVIEW

8.1.2 FINANCIALS

8.1.3 PRODUCT PORTFOLIO

8.1.4 DEVELOPMENTS

8.2 ROCHE DIAGNOSTICS

8.2.1 BUSINESS OVERVIEW

8.2.2 FINANCIALS

8.2.3 PRODUCT PORTFOLIO

8.2.4 DEVELOPMENTS

8.3 LIFESCAN, INC. (A JOHNSON & JOHNSON COMPANY)

8.3.1 BUSINESS OVERVIEW

8.3.2 FINANCIALS (J&J)

8.3.3 PRODUCT PORTFOLIO

8.3.4 DEVELOPMENT

8.4 I-SENS, INC.

8.4.1 BUSINESS OVERVIEW

8.4.2 FINANCIALS

8.4.3 PRODUCT PORTFOLIO

8.4.4 DEVELOPMENT

8.5 TRIVIDIA HEALTH (PREVIOUSLY KNOWN AS NIPRO DIAGNOSTICS, INC.)

8.5.1 BUSINESS OVERVIEW

8.5.2 FINANCIALS

8.5.3 PRODUCT PORTFOLIO

8.5.4 DEVELOPMENTS

8.6 ASCENSIA DIABETES CARE HOLDINGS AG (PREVIOUSLY KNOWN AS BAYER DIABETES CARE)

8.6.1 BUSINESS OVERVIEW

8.6.2 FINANCIALS

8.6.3 PRODUCT PORTFOLIO

8.6.4 DEVELOPMENTS

8.7 APEX BIOTECHNOLOGY CORPORATION

8.7.1 BUSINESS OVERVIEW

8.7.2 FINANCIALS

8.7.3 PRODUCT PORTFOLIO

8.7.4 DEVELOPMENTS

8.8 AGAMATRIX INC

8.8.1 BUSINESS OVERVIEW

8.8.2 FINANCIALS

8.8.3 PRODUCT PORTFOLIO

8.8.4 DEVELOPMENTS

8.9 TAIDOC TECHNOLOGY CORPORATION

8.9.1 BUSINESS OVERVIEW

8.9.2 FINANCIALS

8.9.3 PRODUCT PORTFOLIO

8.9.4 DEVELOPMENTS

8.10 UNIVERSAL BIOSENSORS

8.10.1 BUSINESS OVERVIEW

8.10.2 FINANCIALS

8.10.3 PRODUCT PORTFOLIO

8.10.4 DEVELOPMENTS

8.11 BEIJING YICHENG ELECTRONIC CO., LTD.

8.11.1 BUSINESS OVERVIEW

8.11.2 FINANCIALS

8.11.3 PRODUCT PORTFOLIO

8.11.4 DEVELOPMENTS

8.12 SANNUO BIOSENSOR INC.

8.12.1 BUSINESS OVERVIEW

8.12.2 FINANCIALS

8.12.3 PRODUCT PORTFOLIO

8.12.4 DEVELOPMENTS

8.13 SHANGHAI MICROSENSE TM INC.

8.13.1 BUSINESS OVERVIEW

8.13.2 FINANCIALS

8.13.3 PRODUCT PORTFOLIO

8.13.4 DEVELOPMENTS

8.14 ACON LABORATORIES, INC.

8.14.1 BUSINESS OVERVIEW

8.14.2 FINANCIALS

8.14.3 PRODUCT PORTFOLIO

8.14.4 DEVELOPMENTS

8.15 ALLMEDICUS

8.15.1 BUSINESS OVERVIEW

8.15.2 FINANCIALS

8.15.3 PRODUCT PORTFOLIO

8.15.4 DEVELOPMENTS

8.16 NATIONAL DIAGNOSTIC PRODUCTS

8.16.1 BUSINESS OVERVIEW

8.16.2 FINANCIALS

8.16.3 PRODUCT PORTFOLIO

8.16.4 DEVELOPMENTS

8.17 HMD BIOMEDICAL

8.17.1 BUSINESS OVERVIEW

8.17.2 FINANCIALS

8.17.3 PRODUCT PORTFOLIO

8.17.4 DEVELOPMENTS

8.18 YUWELL-JIANGSU YUYUE MEDICAL EQUIPMENT & SUPPLY CO., LTD.

8.18.1 BUSINESS OVERVIEW

8.18.2 FINANCIALS

8.18.3 PRODUCT PORTFOLIO

8.18.4 DEVELOPMENTS

8.19 77 ELEKTRONIKA KFT.

8.19.1 BUSINESS OVERVIEW

8.19.2 FINANCIALS

8.19.3 PRODUCT PORTFOLIO

8.19.4 DEVELOPMENTS

8.20 B. BRAUN MELSUNGEN AG

8.20.1 BUSINESS OVERVIEW

8.20.2 FINANCIALS

8.20.3 PRODUCT PORTFOLIO

8.20.4 DEVELOPMENTS