Blood Glucose Test Strip Market 2021 Global Industry Size, Future Trends

Blood Glucose Test Strip Market Research Report – Forecast to 2027

Blood glucose test strips are useful for medical tests. They are small disposable strips used in conjugation with blood glucose meters in order to monitor and control diabetes. Market Research Future (MRFR) has published and released a research report about the global blood glucose test strip market that predicts growth for this market between 2017 and 2027.

Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include mergers and acquisitions, joint ventures, new product developments, research and developments (R&D), and strategic alliances.

The major factors contributing to the growth of the global blood glucose test strip market are increasing geriatric population, the rising prevalence of diabetes, and rapid urbanization. Other important reasons aiding the market growth are changing lifestyle, increasing spending on healthcare, and increasing awareness about the health hazards caused by lack of glucose.

The global blood glucose test strip market has been segmented on the basis of technology and region. The technology-based segmentation segments the market into optical technology, thick film electrochemical, and thin film electrochemical. Optical coherence tomography (OCT) is an imaging technique used for medical imaging and sometimes for glucose monitoring.

The regional segmentation of the global blood glucose test strip market segments the global market into regional markets known as North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. North America is largest regional market. In this region, the market is growing due to the presence of major manufacturers, technological advancement, and heavy research and development (R&D) with regards to the medical sector. The topmost country-specific markets in this region are USA and Canada. Many key market players are based in this region, especially in the USA. The US Food & Drug Administration (FDA) has issued two revised draft guidance for blood glucose monitors in home and health care settings. These guidelines have been issued after a request from stakeholders for more clarification on design considerations and recommended standards for meters.

Europe is the second largest regional market, and it is expected to grow during the forecast period. The factors supporting the growth of this market include a high density of population, established healthcare sector, high level of technological advancement that is second only to North America, and presence of many key market players. The main country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.

The Asia Pacific is another significant market as healthcare sector is developing in countries like China and India. Advanced medical facilities and rapid technological advancement are available in Japan. The rural market in countries like China and India is still untapped which due to the high density of population can be a lucrative market once tapped into. Many key market players are based in this region too.

In Latin America, the market is smaller than North America as this region has less advanced medical facilities. The two strongest economies that can become suitable markets are Argentina and Brazil. The MEA region has the least market share due to poor countries, lack of awareness, lack of education, low standard of medical facilities, lack of healthcare facilities, and majority governments not considering healthcare a priority.

Key Players

The key players in the global blood glucose test strip market include Abbott Laboratories (USA), Acon Laboratories Inc (USA), Allmedicus (South Korea), Apex Biotechnology Corporation (Taiwan), Ascensia Diabetes Care Holdings Ag (Switzerland), B.Braun Melsungen Ag (Germany), HMD Biomedical (Taiwan), I-Sens Inc. (South Korea), Lifescan Inc. (USA), Roche Diagnostics (Switzerland), and Taidoc Technology Corporation (Taiwan).

Blood Glucose Test Strip Market Information by Technology (Thick Film Electrochemical, Thin Film Electrochemical, Optical) – Forecast to 2027 :

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