Market Synopsis of Global Blood Glucose Test Strip Market
Blood glucose test strip is a small disposable plastic strip and is an important component of blood glucose meters that monitors and controls diabetes. These strips are impregnated with glucose oxidase, which reacts with glucose present in the blood and then indicate the glucose level in the blood.
The convenience offered by the self-blood glucose testing over the traditional methods is one of the major drivers of the blood glucose test strip market. The self-testing allows the diabetic and the pre-diabetic people to keep a track of their blood glucose level regularly without visiting a clinic or diagnostic laboratory. A diabetic patient is expected to test his sugar at least 2-3 times a day, self-testing allows the patient to perform his test regularly at his home. Rising diabetic population is another major driver of the market. Diabetes is one of the major concerns for the government bodies across the globe. Rising disposable income of emerging economies is another economic driver of the market. For example, annual disposable income of middle class households in India was $1,366.2 billion in 2010, which reached $1,587.6 billion in 2013. The global big data in the blood glucose test strips market is expected to reach US$ 18.5 billion by 2020, and the market is projected to grow at a CAGR of ~ 6.2 % during the forecast period 2015-2020.
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- In 2015, Thick Film Electrochemical strips generated the largest revenue of $ 6.4 billion by technology
- Thin Film Electrochemical segment generated revenue of US$ 5 billion in 2015 by technology
- North America accounted for the largest revenue of US$ 7.89 billion for blood glucose test strips in 2015, by geography
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Key Players in the Global Blood Glucose Test Strip Market
- Roche Diagnostics,
- Bayer Diabetes Care,
- AgaMatrix Inc,
- Universal Biosensors,
- Nipro Diagnostics,
- Apex Biotechnology Corp,
- B. Braun,
- HMD BioMedical Inc.,
- ALL Medicus,
- Beijing Yicheng Electronics,
- Betachek National Diagnostics,
- Shanghai MicroSense,
- Jiangsu Yuyue,
- ACON Laboratories
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The Americas holds a significant market share of the global market owing to extensive use of information technology and high expenditure on the health care. Additionally, the fastest uptake of new technology and the presence & concentration of medical device manufacturers in the US regions drive the blood glucose test strip market.
North America led the global blood glucose test strip market with revenue of $ 7.89 billion in 2015.
Europe is the second largest market in the globe due to a high healthcare expenditure, which is led by Germany and France.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead the market due to unmet needs during the forecasted period. APAC is expected to grow at a higher CAGR of 12.9 % than the other regions because of increasing number of diabetic population in this region.
Gulf nations such as Saudi Arabia and the UAE drive the Middle East & African market. The African region is expected to witness a moderate growth owing to poor economic & political conditions and poor healthcare development.
Table of Content
1.2 Scope Of The Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Forecast Indicators
3.1 Growth Drivers
3.1.1 Convenience Of Self Blood Glucose Monitoring Over Traditional Methods
3.1.2 Technological Advancements
3.1.3 Rising Diabetic Population
3.1.4 Players Engaged In Creatingawareness Regarding Regular Blood Glucose Monitoring
3.1.5 Government Initiatives To Propel Australian Blood Glucose Test Strip Market
3.1.6 Rising Disposable Income Of Emerging Economies
3.2 Growth Barriers
3.2.1 Inadequate Reimbursement For Test Strips
3.2.2 Low Adoption Of Smbg In Emerging Economies As Compared To Developed Regions
3.2.3 Advent Of Generic Blood Glucose Test Strips
3.3.1 Emerging Economies
4 Global Blood Glucose Test Strip Market
5 Blood Glucose Test Strip Market, By Technology
6 Blood Glucose Test Strip Market, By Region
6.1 North America
6.4 Latin America
6.5 Middle East & Africa
7 Competitive Landscape
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