Test Strip Market

The rising diabetic population to boost the market growth

Diabetes is increasing globally and is a factor in both developing and developed countries. The growing popularity of point-of-care testing among the general public is another significant factor that fosters development. For instance, according to the International Diabetes Federation's December 2021 report, there were approximately 536 million diabetics worldwide in 2021 (aged 20 to 79), and it is predicted that there will be 786 million diabetics worldwide by the year 2045.

Furthermore, the number of diabetes tests is rising along with diabetes prevalence and incidence around the world, which is anticipated to support the segment's development over the forecast period.

According to a report published in 2024, FUJIFILM Wako Pure Chemicals Corporation has announced the release of two brand new tests namely LumiMAT™ Pyrogen Detection Kit (LumiMAT), which is an alternative to Monocyte Activation Test (MAT)1 for In vitro2 Pyrogen Testing and PYROSTAR™ Neo+, a recombinant protein reagent used in the detection of bacterial endotoxins.

The Contour Next One blood glucose meter is now part of the diabetes patient toolkit for Virtual diabetes clinic 9am. health after partnering with Ascensia Diabetes Care in Mar 2022. In this case, type 2 diabetes patients and prediabetes sufferers who visit this clinic can integrate Ascensia's blood glucose meter and 100 to 300 test strips into their personalized treatment plans.

In August 2021, FIND (global alliance for diagnostics) signed deal with i-SENS Inc., Seoul, South Korea and SD BIOSENSOR Inc., Suwon-si, South Korea improving affordability to increase access to blood glucose test strips by low- and middle-income countries (LMIC).

Becton Dickinson received approval for its OTC rapid antigen test using the Scanwell Health Mobile App in August 2021.

USA Track & Filed (USATF) (US) and Becton Dickinson collaborated to offer rapid COVID-19 testing services for athletes through BD veritor plus system in April 2021.

Mankind Pharma's Pregnancy Test Kit Brand unveiled a novel pregnancy detection test kit, "Prega News Advance,” in March 2022. They are striving to provide more advanced methods of verifying a pregnancy.

Australian scientists developed painless blood sugar testing for diabetics, a saliva-based strip, in July 2021.

The Global Test Strip Market Industry is projected to experience substantial growth over the next decade. With a market valuation of 6.68 USD Billion in 2024, it is expected to reach 14.3 USD Billion by 2035. This growth trajectory indicates a CAGR of 7.14% from 2025 to 2035, reflecting the increasing demand for test strips driven by various factors such as technological advancements, rising health awareness, and the expansion of home healthcare services. These projections highlight the market's potential and the opportunities available for stakeholders within the industry.

The expansion of home healthcare services is a notable driver of the Global Test Strip Market Industry. As healthcare systems increasingly focus on providing care in home settings, the demand for at-home testing solutions, including test strips, is on the rise. This shift is particularly relevant for elderly populations and individuals with mobility challenges, who benefit from the convenience of home testing. The market's growth is further supported by the increasing availability of home healthcare products, making test strips more accessible to consumers. This trend is expected to contribute significantly to the market's overall expansion in the coming years.

The Global Test Strip Market Industry is experiencing growth due to the increasing prevalence of chronic diseases such as diabetes and cardiovascular conditions. As of 2024, the market is valued at approximately 6.68 USD Billion, driven by the need for regular monitoring of blood glucose levels and other health indicators. The demand for test strips is expected to rise as more individuals are diagnosed with these conditions, necessitating ongoing management and monitoring. This trend suggests a sustained increase in the consumption of test strips, which are essential for effective disease management and patient adherence to treatment protocols.

Regulatory support and favorable reimbursement policies are crucial factors influencing the Global Test Strip Market Industry. Governments and health organizations are increasingly recognizing the importance of accessible testing solutions for chronic disease management. This recognition often translates into supportive policies that facilitate the approval and reimbursement of test strips. Such measures not only enhance market accessibility but also encourage manufacturers to innovate and expand their product offerings. As a result, the market is poised for growth, with an anticipated increase in the adoption of test strips among healthcare providers and patients alike.

There is a growing trend towards health awareness and preventive care, which is positively influencing the Global Test Strip Market Industry. Individuals are becoming more proactive about their health, leading to an increase in self-monitoring practices. This shift is particularly evident in populations at risk for chronic diseases, where regular testing is crucial. As a result, the market is likely to see a significant uptick in the use of test strips, as consumers seek to manage their health more effectively. This trend aligns with the projected CAGR of 7.14% from 2025 to 2035, indicating robust growth potential.

Innovations in test strip technology are propelling the Global Test Strip Market Industry forward. Recent advancements have led to the development of more accurate, faster, and user-friendly test strips. For instance, the introduction of smart test strips that connect to mobile applications allows for real-time data tracking and analysis. These technological improvements not only enhance user experience but also increase the reliability of results, thereby driving demand. As the industry evolves, it is anticipated that these innovations will contribute to the market's growth, potentially reaching a valuation of 14.3 USD Billion by 2035.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America test strip market accounted for the largest market share in 2022. This is attributed increasing cases of diabetes and efforts taken by the national government to manage the disease at a larger level, along with rising adoption of test strips and the presence of key market players. in the region.

Additionally, according to statistics updated by the Centers for Disease Control and Prevention (CDC) in January 2022, there are 37.3 million Americans, or 11.3% of the total population, who have diabetes, of whom 28.7 million have received a diagnosis, including 28.5 million adults. It is anticipated that this population will drive the demand for test strips used to diagnose diabetes, eventually fueling market expansion.

Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: TEST STRIP MARKET SHARE BY REGION, 2022 & 2030 (USD BILLION)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe test strip market is expected to account for the second-largest market share due to the prevalence of chronic illness and increasing support from the government via rising investments in hospitals’ construction with the new equipment in the region. Further, Germany Test Strip Market was attributed to hold the largest market share, and the UK Test Strip Market is estimated to be the fastest growing market in the Europe region. Furthermore, France test strip market will hold the 3rd place for the market share.

The Asia-Pacific Test Strip Market is expected is expected to grow at a significant share from 2023 to 2030. This is due to the increasing incidence of obesity in the Asia-Pacific region. Moreover, China test strip market is expected to hold the largest market share, and India test strip market is expected fastest-growing market in the Asia-Pacific region.

Furthermore, China expected to witness favorable growth of 5.1 % cross forecast year. In addition, China has maximum number of diabetic patients followed by India. Hence, rising prevalence of diabetes in these countries will fuel the growth for the test strip market.

The Rest of the World includes the Middle East, Africa, and Latin America. This the Middle East is projected to hold the least share in the test strip market. This is due to the as increase in the increasing Liver Disease and kidney disease in the region. Furthermore, Modernization of the healthcare and life science sectors and rising urethral infections among the people, and rising test which is partially fueling market expansion.

The test strip market is characterized by the presence of many global, regional, and local vendors catering to the demand created by research scientists and pharmaceutical and biotechnology companies operating in the industry. The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach across the globe with diverse product portfolios. Companies such as Abbott (US), Tiadoc (Taiwan), Acon (US), and F. Hoffmann-La Roche Ltd (Switzerland)the test strip market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in research and development.

Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.

One of the primary business strategies adopted by manufacturers in the test strip industry to benefit clients and expand the Test Strip Market sector is to manufacture locally to reduce operating costs.

F. Hoffmann-La Roche Ltd (Roche) is one of the leading companies in the field of diagnostics and pharmaceuticals. The company develops and markets products for diagnosis & treatment of anemia, cancer, anticoagulation therapy, cardiovascular diseases, diabetes, central nervous system, chlamydia, dermatology, gonorrhea, gout, hepatitis B and C, hemostasis disorders, HIV/AIDS, HPV, infectious diseases, and autoimmune diseases. It provides in-vitro diagnostics and drugs for cancer and transplantation. Moreover, it specializes in molecular diagnostics and medicines for oncology, virology, inflammation, metabolism, central nervous system (CNS), clinical chemistry, immunology, urinalysis, blood screening, genetics, infectious diseases, and microbiology.

Genentech, in the US, is a wholly-owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For instance, in January 2022, F. Hoffmann-La Roche Ltd (Switzerland) launched the cobas pulse system, an industry first professional blood glucose management.

Also, Abbott discovers, develops, manufactures, and sells healthcare products across the globe. The company operates through four reportable segments, namely, established pharmaceutical products, diagnostic products, nutritional products, and medical devices. The established pharmaceutical products segment offers a broad range of branded and generic pharmaceutical products. This segment focuses on emerging markets, including India, Brazil, Russia, and China. The nutritional products segment sells and distributes adult & pediatric nutritional products. The diagnostic products segment offers diagnostic tests and instruments for blood banks, hospitals, and commercial laboratories.

The medical devices segment offers devices for various treatments, including cardiac arrhythmias & heart failure, vascular, neuromodulation, structural heart, and diabetes care.