Blood Glucose Test Strips Market Size and Growth Rate:
According to the Research Report, the Global Blood Glucose Test Strips Market Size was valued at USD 8,000 Million USD in 2017 and was Expected to Reach USD 9,700 Million by 2026 with a CAGR of 2.0% during the forecast period 2019-2026.
Blood Glucose Test Strips Market Drivers and Restraints:
The increasing prevalence of diabetes and the high awareness of continuous blood glucose monitoring to control diabetes can stimulate the global market for blood glucose test strips from 2018 to 2026.
The prevalence of diabetes is expected to increase exponentially around the world as a result of changes in lifestyle and various factors, such as malnutrition and genetic mutations. A large number of global manufacturers are focusing on the development and manufacture of new antidiabetic products to meet the medical needs of patients with supportive government support. For example, the US Food and Drug Administration (FDA) has granted a 510 (k) license to DarioHealth Corp., a manufacturer of the Dario blood glucose monitoring system, including its components, such as the reader, the test strips and applications on the Apple iOS 6.1 platform and higher. These key developments are likely to increase the global market for blood glucose test strips in the near future.
Blood Glucose Test Strips Market Regional Analysis:
North America had a significant portion of the world market for blood glucose test strips in 2017. Europe has followed North America in terms of global market share. In terms of revenue, the Asia-Pacific market is expected to grow rapidly during the forecast period. The growing prevalence of diabetes and the knowledge of the treatment and use of different diabetes treatment devices in countries like Brazil, Saudi Arabia and South Africa should boost the market in Latin America and in the Middle East and Africa.
Some of the Promising Companies leading the Global Blood Glucose Test Strips Market Profiled in the Report are:
- Abbott Laboratories
- AgaMatrix, Inc
- PHC Holdings Corporation
- F. Hoffmann-La Roche Ltd
- LifeScan, Inc
- Trividia Health Inc
- B. Braun Holding GmbH & Co. KG
The Research Report segments the Blood Glucose Test Strips Market into the following submarkets:
Blood Glucose Test Strips Market – By Component:
- Blood Glucose Test Strips
Blood Glucose Test Strips Market – By End User:
Blood Glucose Test Strips Market – By Technology:
- Thick-film Electrode Strips
- Thin-film Electrode Strips
- Optical Strips
Blood Glucose Test Strips Market – By Region:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa