Asia Pacific Blood Glucose Test Strip Market 2018 Top Player - BioSensors Inc, Universal Biosensors, Beijing Yicheng Electronic, Hmd Biomedical and More

Blood glucose test strip are small & disposable and they are used to monitor the blood glucose level. It plays an important role in the blood glucose monitoring and treatment of diabetes. Total diabetic population in China is 113 million, which accounts 11% of total Chinese population, whereas 67 million people in India have diabetes. Additionally, 20% of population from most of the South Indian cities have diabetes. According to a study, China has the highest smoking rate and smoking increases the chances of developing diabetes by 45% as compare to non-smoker, which, in turn, will drive the growth of the market over the assessment period.

Asia Pacific Blood Glucose Test Strip Market is the growing and is expected to grow at a CAGR of 6% during the forecasted period of 2017- 2023.

Many countries in Asia Pacific are developing rapidly. The people living in this region are attracted to the western culture and sedentary life, which make them more prone to different metabolic diseases and lifestyle related diseases, for instance, diabetes and obesity. Majority of the population in Asia Pacific region smoke, which is another factor responsible for development of diabetes. Different types of test are available to monitor the blood glucose level such as oral glucose tolerance test, postprandial blood sugar, random blood sugar testing, and others.

The blood glucose test strip market is increasing due to increasing diabetic population, developing technology, increasing R &D in diabetes, increasing awareness among the people, and improving diagnosis and treatment techniques for diabetes. On the other hand, high cost of the strips and introduction of sensor technology, which continuously monitor and indicate blood glucose level may hamper the growth of the market.

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Key Players

Some of the major key players in the market are

Hoffmann-La Roche Ltd (Switzerland),
Abbott (US),
LifeScan Inc. (US),
i-SENS Inc. (South Korea),
AgaMatrix (US),
TaiDoc Technology Corporation (Taiwan),
BioSensors Inc. (US),
Universal Biosensors (Australia),
Beijing Yicheng Electronic Co. Ltd (China),
Hmd Biomedical (Taiwan)
Braun Melsungen Ag (Germany)

Regional Analysis

Asia Pacific region is segmented into Japan, China, India, Australia, Republic of Korea, and Rest of Asia Pacific. India and China are two most populated countries in this region, which together accounts for 180 million of diabetic patient. Increasing diabetic population in these countries has attracted many of the multinational companies to enter in the market. Overweight and obesity are majorly responsible for developing diabetes.

Additionally, poor diet plan and lack of exercise contribute to the increasing diabetic population and India and China have the huge obese and overweight population. Thus, increasing prevalence of diabetes, & obesity, increasing demand for the homecare devices, and increasing healthcare expenditure drive the market growth. Moreover, increasing per capita income and increasing awareness will push the market growth over the forecasted period.

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