WHO estimated the diabetic population to increase from 171 million in 2000 to 366 million by 2030. In addition, increase in geriatric population across the globe accelerates the Blood Glucose Test Strips Market growth.

According to a new report published by Progressive Markets Report, titled, " Blood Glucose Test Strips Market by Technology, Electrode Type, and End User: Global Opportunity Analysis and Industry Forecast, 20152026," the global blood glucose test strips market was valued at $9,061 million in 2017, and is projected to reach $15,046 million by 2026, growing at a CAGR of 5.7% from 2018 to 2026. The glucose dehydrogenase (GDH) segment is anticipated to be the highest revenue contributor during the forecast period.
Blood glucose test strips, which form an essential part of the glucose monitoring device, is majorly used to detect the blood glucose level in blood. A disposable test strip is incorporated in a glucose meter to measure the concentration of glucose present in the blood. These test strips are coated with enzymes such as glucose oxidase and dehydrogenase that detect glucose in the blood. Blood glucose test strips are being widely used by diabetic patients to self-monitor their blood glucose level. In addition, American Diabetes Association (ADA) recommends that patients with type 1 diabetes should test glucose level at least three or more times per day.

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The major factors that drive the blood glucose test strips market growth include significant increase in the prevalence of diabetic patients, rise in obese population and consumption of junk food. Further, diabetes mellitus is the most common endocrine disorder of carbohydrate metabolism. Globally, it is the foremost cause of morbidity & mortality and is a major health concern for developed economies.

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Moreover, key market trends such as surge in prevalence toward usage of self-monitoring devices among patients and favorable reimbursement policies are anticipated to boost the market insights. However, high cost of the strips and low awareness regarding proper use of these strips among patients are the factors expected to hamper the market growth in near future.

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By technology, glucose dehydrogenase (GDH) accounted for nearly 58% of the market share in 2017 and is also the fastest growing segment, poised to grow at a CAGR of 6.68% from 2018 to 2026. This is attributed to the fact that glucose dehydrogenase-based strips are more accurate and specific as compared to glucose oxidase strips. In addition, glucose dehydrogenase is less susceptible to common interferences than glucose oxidase.

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This release was published on openPR.