The global blood glucose test strips market was valued nearly at $11 billion in 2017. North America is the largest market for blood glucose test strips, accounting for around 47% of the global market. The blood glucose test strips market in the USA is the largest in the world.
Blood glucose test strips are made from fabric material embedded with sensors, electrodes and enzymes. They are thin paper or plastic strips which help to monitor blood glucose levels and control diabetes symptoms. A test strip is composed of several layers.
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Blood Glucose Test Strips Market Size
The market size is influenced by the prevalence of diabetes, awareness of self-monitoring of blood glucose, and reimbursement for test strips in some countries. This market is expected to reach around $13 billion at a growth rate of around 5% by 2021. Major drivers of the blood glucose test strip industry in the historic period included increased diabetes cases, increased disposable income, and technological advances, while major restraints on the market included lack of diabetes awareness, decreased reimbursement prices, and development of alternative technologies for blood glucose monitoring.
Major players in the major orthopedic joint replacement implant market include Roche, Johnson & Johnson, Ascensia (Panasonic Health Care), and Abbott.
LifeScan is one of the largest manufacturers and suppliers of blood glucose monitoring equipment for home and hospital use. The company supplies blood glucose monitoring meters, test strips, insulin pumps and pocket blood glucose meters. LifeScan was founded in 1981 and has been part of Johnson & Johnson Company since 1986. It is headquartered in Chesterbrook, Pennsylvania and employs more than 3,000 people. The company also has manufacturing facilities in Puerto Rico and Scotland.
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Blood Glucose Test Strips Market Segmentation
The blood glucose test strips market is segmented by technology, by electrode material used, and by geography.
By Service Type – The blood glucose test strips market is segmented by technology type into
- a) Glucose Dehydrogenase
- b) Glucose Oxidase
Glucose Dehydrogenase had the highest growth rate of 3.69% during the historic period.
By Electrode Material Used – The blood glucose test strips market is segmented by end user gender into
- a) Thick Film Electrochemical Strips
- b) Thin Film Electrochemical Strips
- c) Optical Strips
By Geography – The blood glucose test strips market is segmented into
- o North America
- o Western Europe
- o Asia Pacific
- o Eastern Europe
- o South America
- o Middle East
- o Africa
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