Blood Glucose Test Strips Market - 2023-2030

Blood Glucose Test Strips Market - 2023-2030

Global Blood Glucose Test Strips Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030, growing at a CAGR of YY% during the forecast period 2023-2030.

Blood glucose test strips are the key components of the diagnosis of diabetes based on the levels of the sugar in the blood. These small disposable strips provide a very important role in helping people with diabetes to monitor and control their diabetes.

Blood glucose test strips are essential for diabetic patients for regular checking of their blood glucose. Checking the blood glucose levels regularly with the strips will help to manage the disease.

Market Dynamics: Drivers & Restraints

Increasing prevalence of the diabetic population

The increasing diabetic population is expected to drive the market due to the increased demand for strips for regularly checking the levels of glucose and managing the disease condition. The increasing technological advancements in the healthcare infrastructure and also the increasing awareness among individuals about diabetes are expected to drive the market growth.

For instance, according to the Australian Institute of Health and Welfare, it is estimated that in 2021, over 1.3 million people were diagnosed with diabetes which is almost 1 in 5 individuals.

Additionally, according to the data provided by WHO, it is estimated that 77 million individuals are diabetic and 25 million are prediabetic. The changing lifestyle and other factors are expected to increase the rate of diabetic population in the country and also globally which increases the demand for blood glucose test strips. Thus, the above factors are expected to drive the market growth.

Restraint

Presence of alternative products

The availability of more accurate devices for checking the blood glucose level will dominate the market which will show an impact on the growth of the test strips market. The affordability of the other devices and the accuracy of the results with those devices will affect the strips market growth.

Segment Analysisn

The global blood glucose test strips market is segmented based on strip type, diabetes type, end-user and region.

Thick film strips segment accounted for 56.4% of the market share

The thick film strips segment is expected to hold a dominant position in the market share. Because thick-film technology is easy to use and reasonably priced to produce, these strips are the most affordable choice available. For many people, this aspect is essential to controlling the ongoing costs of diabetes care.

When used appropriately, these test strips often provide good accuracy, especially when compared to previous generations of test strips. The majority of consumers can now rely on dependable results thanks to technological improvements that have enhanced the enzymes and procedures used. Thick-film blood glucose test strips present an attractive blend of low cost, precision, longevity, and user-friendliness. For millions of diabetics worldwide, they continue to be a dependable and well-liked option. Thus, the above features are holding the segment in the dominant position.

Geographical Analysis

North America is expected to hold a significant position in the global blood glucose test strips market share

The increasing technological advancements of the blood glucose test strips and the increasing diabetic population in the region, increasing awareness among individuals about diabetes and preventive measures are expected to hold the dominant position in the market growth.

For instance, according to the American Diabetes Association, it is estimated that in 2021, 38.4 million Americans had diabetes. Of these individuals, 38.4 million adults with diabetes, 29.7 million were diagnosed, and 8.7 million were undiagnosed. An increasing diabetic population will increase the demand for blood glucose test strips and the increasing prevalence of the disease is expected to drive the market growth in the region in the forecast period.

COVID-19 Impact Analysis

COVID-19 has had a significant impact on the blood glucose test strips. The onset of lockdown has led to the disruption of the supply chain of blood glucose strips. Due to the pandemic, the diagnostic centers and the procedures have been reduced as the non-essential needs and treatment procedures were halted. Thus, the COVID-19 has impacted the market significantly.

Market Segmentation

By Strip Type
• Thick Film Strips
• Thin Film Strips
• Optical

By Diabetes Type
• Type -I
• Type-II
• Gestational Diabetes
• Prediabetes

By End-User
• Homecare
• Hospitals
• Diagnostic Centers
• Ambulatory Surgical Centers

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The leading companies with a significant market share ARKRAY, Inc., Ascensia Diabetes Care India, Roche Diabetes Care Limited., LifeScan IP Holdings, LLC., Cliawaived, Inc., AgaMatrix, DarioHealth Corp., Universal Biosensors, HMD Biomedical Inc., and B. Braun SE among others.

Why Purchase the Report?
• To visualize the global blood glucose test strips market segmentation based on strip type, diabetes type, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of blood glucose test strips market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global blood glucose test strips market report would provide approximately 61 tables, 59 figures, and 180 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies