Global Blood Glucose Test Strips Market – Snapshot

Blood glucose test strips are used to measure the glucose level in the blood. In terms of revenue, the global blood glucose test strips market was valued at US$ 8,000 Mn in 2017 and is anticipated to reach around US$ 9,700 Mn by 2026, expanding at a CAGR of above 2.0% from 2018 to 2026. Rise in prevalence of diabetes and high awareness for continuous glucose monitoring in order to control diabetes are likely to drive the global blood glucose test strips market from 2018 to 2026.

blood glucose test strips

Prevalence of diabetes is expected to increase exponentially, worldwide, due to change in lifestyle and various factors such as malnutrition and genetic mutations. According to various government and private organizations operating in the diabetes industry, diabetes is considered a major fatal disease. Large number of global manufacturers are focusing on the development and manufacture of novel diabetes products in order to meet the medical need of patients with the favorable support of the government. For instance, the U.S. Food and Drug Administration (FDA) granted 510(k) clearance for DarioHealth Corp., the manufacturer of Dario blood glucose monitoring system, including its components such as meter, test strips, and apps on the Apple iOS 6.1 platform and higher. Such key developments are likely to augment the global blood glucose test strips market in the near future. However, incidence of product recall due to device inefficiency such as false glucose reading or intense competition leading to pricing pressures are some factors that are likely to restrain the global blood glucose test strips market during the forecast period.

The global blood glucose test market can be segmented based on technology, distribution channel, and region. In terms of technology, the wicking technology segment is projected to dominate the market; however, it is expected to maintain its dominance during the forecast period due to increase in usage among patients to achieve accurate results during testing. The channel technology segment is likely to lose market share during the forecast period. Increase in demand for accurate result in short time and less focus of major players on the development of strips through channel technology are key factors fueling the segment. Based on distribution channel, the retail pharmacy segment led the market, in terms of revenue, in 2017, while the hospital pharmacy segment is projected to lose market share during the forecast period due to rise in preference for self-care testing among patients for diabetes monitoring.

In terms of region, North America held a major share of the global blood glucose test strips market in 2017. However, it is expected to lose market share during the forecast period due to rise in usage of generic test strips. Europe followed North America in terms of share of the global market. In terms of revenue, the market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Rise in prevalence of diabetes and awareness about the treatment and usage of different devices to treat diabetes in countries such as Brazil, Saudi Arabia, and South Africa are likely to boost the market in Latin America and Middle East & Africa.

Key companies operating in the global blood glucose test strips market, which are profiled in the report, include Abbott Laboratories, AgaMatrix, Inc., (Ascensia Diabetes Care Holdings AG) PHC Holdings Corporation, F. Hoffmann-La Roche Ltd., LifeScan, Inc. (Johnson & Johnson), Sanofi, Trividia Health, Inc., and B. Braun Holding GmbH & Co. KG. These players are adopting organic and in-organic growth strategies to expand their product offerings, strengthen their geographical reach, increase customer base, and gain market share. For instance, in June 2017, F. Hoffmann-La Roche Ltd. acquired Austria-based company mySugr GmbH. This acquisition helped F. Hoffmann-La Roche Ltd to access its mobile diabetes platform apps and services, which include diabetes coaching, therapy management, and unlimited test strips.

Global Blood Glucose Test Strips Market: Overview

Blood glucose test strips have been extremely useful in monitoring blood glucose level in order to control diabetes. The global blood glucose test strips market is expanding at a significant pace due to factors such as increase in incidence of diabetes and rise in government initiatives to address medical needs across the world.

The global blood glucose test strips market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on technology, distribution channel, and region. A detailed qualitative analysis of drivers, restraints, and opportunities have been provided in the market overview section. Additionally, the section comprises competitive matrix and company profiles to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by geography and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global blood glucose test strips market.

Global Blood Glucose Test Strips Market: Key Segments

In terms of technology, the global blood glucose test strips market has been segmented into wicking technology and channel technology. The technology segment has been analyzed based on different type of technology that are utilized to developed blood glucose test strips in various regions. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. In terms of distribution channel, the global blood glucose test strips market has been classified into retail pharmacy, hospital pharmacy, and online retailer. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the period from 2018 to 2026, considering 2017 as the base year.

Global Blood Glucose Test Strips Market: Regional Outlook

The global blood glucose test strips market has been segmented into five major regions and key countries/sub-regions in the respective region: North America (U.S. and Canada), Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, Israel, and Rest of MEA). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the period from 2018 to 2026, considering 2017 as the base year. The research study also provides the competitive scenario in these regions.

Companies Mentioned in Report

The report also profiles major players in the market in terms of various attributes such as company overview, financial overview, devices portfolios, business strategies, and recent developments. Major companies profiled in the global blood glucose test strips market include Abbott Laboratories, AgaMatrix, Inc., (Ascensia Diabetes Care Holdings AG) PHC Holdings Corporation, F. Hoffmann-La Roche Ltd., LifeScan, Inc. (Johnson & Johnson), Sanofi, Trividia Health, Inc., and B. Braun Holding GmbH & Co. KG.

The global blood glucose test strips market has been segmented as follows:

Global Blood Glucose Test Strips Market, by Technology

  • Wicking Technology
  • Channel Technology

Global Blood Glucose Test Strips Market, by Distribution Channel

  • Retail Pharmacy
  • Hospital Pharmacy
  • Online Retailer

Global Blood Glucose Test Strips Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Rest of Middle East & Africa

 

.