Blood Glucose Test Strips Market Report 2020: Industry Trends, Size, Share, Growth Opportunities And Forecast Till 2023 By TBRC

Blood Glucose Test Strips Market - By Technology (Glucose Oxidase And Glucose Dehydrogenase), By Type (Thick Film Electrochemical Films, Thin Film Electrochemical Films And Optical Strips), And By Region, Opportunities And Strategies – Global Forecast To 2023 By The Business Research Company

The global blood glucose test strips market reached a value of nearly $11.7 billion in 2019, having grown at 4.1% since 2015.Growth in the historic period resulted from rise in diabetes prevalence, increase in disposable income and technological advances. Factors that negatively affected growth in the historic period were lack of awareness, rising investments in alternative blood monitoring methods and decrease in reimbursement for test strips.

The Key drivers of the blood glucose test strips market include:-
Increase In Diabetes Prevalence: During the historic period, rise in diabetes prevalence contributed to the growth of the blood glucose strips market. Nutrition and lifestyle modifications led to a rise in the prevalence of all non-communicable diseases including diabetes. The International Diabetes Federation claims that almost 7 million people are diagnosed with diabetes every year. The disease continues to be the fourth leading cause of death in the world.

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Blood Glucose Test Strips Market Segmentation:-
By Technology
1. Glucose Dehydrogenase
2. Glucose Oxidase

The glucose dehydrogenase market was the largest segment of the blood glucose test strips market, accounting for 67.7% of the total in 2019 and this market is expected to be the fastest-growing segment going forward at a CAGR of 6.1%.

By Type
1. Thick Film Electrochemical Strips
2. Thin Film Electrochemical Strips
3. Optical Strips

The thick film electrochemical strips market was the largest segment of the blood glucose test strips market, accounting for 45.0% of the total in 2019.

By End User
1. Homecare
2. Diagnostic Centers
3. Hospitals

Homecare was the largest segment in the blood glucose test strips market in 2019, accounting for 60.0% of the market.

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By Geography - The blood glucose test strips market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the blood glucose test strips market are
1. F. Hoffmann-La Roche AG
2. LifeScan, Inc.
3. Abbott Laboratories
4. Ascensia Diabetes Care Holdings AG
5. Terumo Corporation

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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