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Blood Glucose Test Strip Market Report 2020 Trends, Growth Insight, Size, Share, Competitive Analysis, Industry Statistics, Regional Revenue

02-14-2020 08:38 AM CET | Health & Medicine

Press release from: Market Research Future

Blood Glucose Test Strip Market

Blood Glucose Test Strip Market

Blood Glucose Test Strip Market Analysis

Blood glucose test strips market is witnessing a significant rise, mainly due to the growing prevalence of diabetes. The market also observes considerable numbers of product launches. Moreover, substantial investments transpired into R&D to develop new effective strips, as well as, to improve the existing product line accelerate the market on a global level.

According to Market Research Future (MRFR), the global blood glucose test strips market is poised to cross a valuation of USD 18.5 BN by 2020. MRFR, in its recent study report, also confirms that the market would register over a 6.2% CAGR throughout the review period (2015 - 2020).

Blood glucose test strips offer a more accurate and cost-effective solution to keep a check on glucose level, which further helps to manage the diabetic conditions. As a result, people prefer using glucometer more than investing in other means to read sugar levels. Besides, improving economic conditions are increasing the size of the market, increasing the per capita healthcare expenditures and access to quality healthcare. Rapid urbanization, ever-increasing population, and increasingly inclining to the sedentary lifestyle are substantiating the growth of the market.

Get a FREE Sample Copy of Report with Complete TOC @ https://www.marketresearchfuture.com/sample_request/976

Conversely, the lack of patient awareness regarding the advantages of unmet clinical needs, improved test strips, and the unavailability of external funding can impede market growth, especially in the developing regions. Nevertheless, the augmenting demand for the personal, hand-held diagnostic devices and the test strips that can give the fastest & accurate results would support the market growth throughout the review period (2015-2020).

Blood Glucose Test Strip Market - Segmentations

The market is segmented into two dynamics to widen the scope of understanding,

By Technology: Thin Film Electrochemical, Thick-Film Electrochemical, Optical, and others.

By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).

Blood Glucose Test Strip Market - Geographical Analysis

North America leads the global blood glucose test strip market. The significant market share attributes to the presence of a huge patient pool with diabetes, well-defined care sectors, and several key manufacturers in the region. The well-established healthcare sectors in the region create an enormous market demand to provide the best quality care. Besides, factors such as the high healthcare expenditures, advancements in medical technology

The US and Canada account for major contributing markets in the region due to the increasing number of diabetic populations.

Europe stands second in the global blood glucose test strip market. Factors like the proliferating healthcare infrastructures, a vast diabetic population, and the provision for funds for R&D can act as key growth drivers for the regional market growth. Indeed, the resurging economy is a major driving force behind the regional market growth, allowing access to the quality life and great care.

Germany, heading with its flourishing medical device market, significantly contributes to the growth of the regional market. Moreover, the UK and France, hold a substantial market share in the region with their increasing investments in glucometers and stripes development. The region is expected to create a larger revenue pocket in the global market by 2020, witnessing an augmenting market demand.

The market for blood glucose test strip in the Asia Pacific region is growing rapidly. Favorable government policies in developing economies, such as India and China can influence regional market growth, positively. Furthermore, the rising prevalence of diabetes and the improving economic conditions provide massive impetus to the growth of the regional market.

The region is projected to witness a spurting growth over the projected period, receiving contributions from the rapidly growing markets in China, Japan, South Korea, and India. These countries are witnessing the massive growth in healthcare sectors due to the augmenting demand for quality care and rapidly evolving healthcare technology led by the rising economy in the region.

Blood Glucose Test Strip Market - Competitive Analysis

Fiercely competitive, the blood glucose test strip market appears to be fragmented with the presence of several well-established leaders. To gain a substantial market share, players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/technology launch.

The high growth potential that the market holds attracts several new entrants, which in turn intensifies the competition in the market. Players substantially invest in their strategic approaches and R&D to develop new products, state-of-the-art infrastructure, and strong sales & distribution network, which can position them well.

Blood Glucose Test Strip Market Major Players:

Players active in the global blood glucose test strip market include i-SENS Inc., LifeScan, Abbott Laboratories, Roche Diagnostics, AgaMatrix Inc, Universal Biosensors, Bayer Diabetes Care, Elektronika, Nipro Diagnostics, TaiDoc Technology Corporation, HMD BioMedical Inc., Apex Biotechnology Corp, ALL Medicus, B. Braun Melsungen AG, SANNUO, Betachek National Diagnostics, Beijing Yicheng Electronics, Shanghai MicroSense, Jiangsu Yuyue, and ACON Laboratories among others.

Blood Glucose Test Strip Industry, Innovation & Related News

October 07, 2019 ---- One Drop (the USUS), a leading global diabetes management platform, announced that its wireless glucose meter kits and supplies are now available across the Walmart retail locations in the USUS. This move shows One Drop 's commitment to increase access to affordable care options. The easy availability allows millions of American diabetic patients with access to real-time support from certified diabetes educators.

The system comprises a blood glucose meter, test strips, and a mobile app for smartphones and smartwatches. The purchases of the kit come with a year of free access to the company's certified coaches. Subscribers of the service are able to track their glucose levels, diet, activity, and insulin doses through the app and can receive replacement testing strips through the mail.

Get More Information on Blood Glucose Test Strip Market Research Report- Global Forecast till 2020 @ https://www.marketresearchfuture.com/reports/global-blood-glucose-test-strip-market-976

Contact:

Akash Anand

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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