Blood Glucose Test Strips Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.34 Billion |
| Market Size (2029) | USD 15.14 Billion |
| CAGR (2024 - 2029) | 5.96 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Blood Glucose Test Strips Market Analysis
The Blood Glucose Test Strips Market size is estimated at USD 11.34 billion in 2024, and is expected to reach USD 15.14 billion by 2029, growing at a CAGR of 5.96% during the forecast period (2024-2029).
The IDF's report highlights the urgent need for global action to address the growing diabetes epidemic. With obesity rates on the rise worldwide, particularly in developing countries, the risk of developing Type 2 diabetes is increasing at an alarming rate. This has put a significant strain on healthcare systems and resources, as diabetes-related complications can lead to serious health issues and increased healthcare costs.
In response to this growing crisis, governments and healthcare organizations are implementing various initiatives to raise awareness about diabetes prevention and management. These efforts include public health campaigns, educational programs, and policies aimed at promoting healthy lifestyles and reducing the prevalence of obesity. Additionally, the availability of blood glucose test strips and other diabetes management tools has improved, thanks to advancements in technology and increased investment in healthcare infrastructure.
The market for blood glucose test strips is experiencing significant growth, driven by the increasing demand for diabetes monitoring devices. Rising disposable incomes and changing lifestyles have led to a greater focus on preventive healthcare, with more individuals taking proactive steps to monitor their blood sugar levels and manage their diabetes effectively. As a result, the market for blood glucose test strips is expected to continue expanding in the coming years, creating opportunities for manufacturers and healthcare providers to meet the growing demand for diabetes management solutions.
Blood Glucose Test Strips Market Trends
Rising diabetes prevalence globally
Blood glucose meters are widely used not only by diabetic patients to self-manage their disease but also by physicians to monitor critically ill patients. Within seconds, glucometers provide blood glucose levels with accuracy. There is constant upgradation in glucometers for better use and more efficiency. The innovations in test strips are increasing and are under development. The new test strip includes features, such as underfill detection, and allows the user to reapply blood when the test strip is underfilled, called second chance sampling.
Due to the ease of handling glucometers, patients prefer to use them for personal use. Tight glucose control is key to the long-term health of diabetic people and the primary prevention of chronic diabetic complications. Diabetic patients are educated to control capillary glucose levels daily to maintain them within target limits.
According to the UNICEF target product profile, 1st edition, access to diagnostic laboratories remains a key challenge in low-resource settings. Point-of-care diagnostic tests enable healthcare workers to provide more rapid and effective care. Simple, rapid, affordable point-of-care tests requiring minimal or no electricity, a laboratory, or highly trained staff are now available and widely used for several common conditions in low- and middle-income countries. These point-of-care tests offer an unprecedented opportunity to reduce health inequalities and help LMICs achieve health-related sustainable development goals.
Thus, the abovementioned factors are expected to drive segment growth over the forecast period.
The North American region held the highest market share in the Blood Glucose Test Strips Market in the current year
North America, especially the United States, held the largest share of 52% in the current year's blood glucose test strips market due to the large patient pool and wide acceptance of advanced technologies. Owing to the availability of healthcare reimbursements and the fastest adoption rate for new medical technologies. North America is the fastest-growing region in the market. It portrays a massive potential for future growth due to the increasing government initiatives to combat diabetes and corporate investments to streamline R&D in diabetes.
The Centres for Disease Control and Prevention (CDC) National Diabetes Statistics Report 2022 estimated that more than 130 million adults are living with diabetes or prediabetes in the United States. Type 2 diabetes is more common, and diabetes is more consequential among communities of color, those who live in rural areas, and those with less education, lower incomes, and lower health literacy.
Blood glucose devices are garnering widespread adoption due to the availability of reimbursement options for glucose meters. Glucose meter devices must be replaced within six to eight months. As a result, most people prefer health insurance plans that cover most of their total expenditure on healthcare devices. Various schemes are covering the costs of diabetes testing supplies, test strips, and blood glucose meters. For example, Medicare, the federal health insurance program in the United States, covers blood glucose meters and the necessary test strips as durable medical equipment under Medicare Part B. It covers medical services and supplies necessary to treat a health condition.
Therefore, the factors above are expected to drive segment growth over the forecast period.
Blood Glucose Test Strips Industry Overview
The blood glucose test strips market is fragmented, with few major manufacturers like Roche, LifeScan, Ascensia, and Abbott having a presence in major regions of the global market. In contrast, the remaining manufacturers confine to the other local or region-specific manufacturers.
Blood Glucose Test Strips Market Leaders
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ARKRAY, Inc.
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Ascensia Diabetes Care
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Roche Diabetes Care
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Abbott Diabetes Care
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LifeScan Inc.
*Disclaimer: Major Players sorted in no particular order
Blood Glucose Test Strips Market News
- May 2023: Roche Diabetes Care India (RDC India) has revealed that the blood glucose monitoring device and test strips 'Accu-Chek Active' is now being produced in India. This decision is in line with the company's objective to enhance diabetes care accessibility and cater to the increasing demands of the Indian market, in partnership with their manufacturing ally Sanmina-SCI India Pvt. Ltd. and assembly & distribution partner Parekh Integrated Services Pvt. Ltd. (PISPL).
- May 2022: OmegaQuant launched HbA1c blood sugar at-home testing kit, enabling users to test their hemoglobin A1c level to metabolize glucose. Typically, HbA1c testing requires a blood draw and lab analysis, but OmegaQuant's HbA1c test allows for a simple finger stick so users can take the test on their own time and, at their convenience, at home.
Blood Glucose Test Strips Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Technologies
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products and Services
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Blood Glucose Test Strips
5.2 Type
5.2.1 Thick Film
5.2.2 Thin Film
5.2.3 Optical Strips
5.3 End User
5.3.1 Hospital/Clinics
5.3.2 Home/Personal
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 France
5.4.2.2 Germany
5.4.2.3 Italy
5.4.2.4 Spain
5.4.2.5 United Kingdom
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Latin America
5.4.3.1 Mexico
5.4.3.2 Brazil
5.4.3.3 Rest of Latin America
5.4.4 Asia-Pacific
5.4.4.1 Japan
5.4.4.2 South Korea
5.4.4.3 China
5.4.4.4 India
5.4.4.5 Australia
5.4.4.6 Vietnam
5.4.4.7 Malaysia
5.4.4.8 Indonesia
5.4.4.9 Thailand
5.4.4.10 Rest of Asia-Pacific
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 Iran
5.4.5.3 Egypt
5.4.5.4 Oman
5.4.5.5 South Africa
5.4.5.6 Rest of Middle East and Africa
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott
7.1.2 Roche
7.1.3 ARKRAY Inc.
7.1.4 Ascensia Diabetes Care
7.1.5 LifeScan IP Holdings LLC
7.1.6 AgaMatrix
7.1.7 Bionime Corporation
7.1.8 ACON Laboratories Inc.
7.1.9 Trividia Health Inc.
7.1.10 Rossmax International Ltd
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Blood Glucose Test Strips Industry Segmentation
Blood glucose test strips are thin paper or plastic strips used to monitor blood glucose levels to help control diabetes. The Blood Glucose Test Strips Market is segmented into type, by end user, and geography The report offers the value (in USD) and volume (in units) for the above segments.
| Type | |
| Thick Film | |
| Thin Film | |
| Optical Strips |
| End User | |
| Hospital/Clinics | |
| Home/Personal |
| Geography | ||||||||||||
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Blood Glucose Test Strips Market Research FAQs
How big is the Blood Glucose Test Strips Market?
The Blood Glucose Test Strips Market size is expected to reach USD 11.34 billion in 2024 and grow at a CAGR of 5.96% to reach USD 15.14 billion by 2029.
What is the current Blood Glucose Test Strips Market size?
In 2024, the Blood Glucose Test Strips Market size is expected to reach USD 11.34 billion.
Who are the key players in Blood Glucose Test Strips Market?
ARKRAY, Inc., Ascensia Diabetes Care, Roche Diabetes Care, Abbott Diabetes Care and LifeScan Inc. are the major companies operating in the Blood Glucose Test Strips Market.
Which is the fastest growing region in Blood Glucose Test Strips Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Blood Glucose Test Strips Market?
In 2024, the North America accounts for the largest market share in Blood Glucose Test Strips Market.
What years does this Blood Glucose Test Strips Market cover, and what was the market size in 2023?
In 2023, the Blood Glucose Test Strips Market size was estimated at USD 10.66 billion. The report covers the Blood Glucose Test Strips Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Blood Glucose Test Strips Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Which factor is expected to drive the future of Blood Glucose Test Strips Market?
The future of the Blood Glucose Test Strips Market is expected to be driven by the development of new technologies, such as continuous glucose monitoring (CGM) systems.
Which factor is expected to drive the future of Blood Glucose Test Strips Market?
The future of the Blood Glucose Test Strips Market is expected to be driven by the development of new technologies, such as continuous glucose monitoring (CGM) systems.
Which factor is expected to drive the future of Blood Glucose Test Strips Market?
The future of the Blood Glucose Test Strips Market is expected to be driven by the development of new technologies, such as continuous glucose monitoring (CGM) systems.
Blood Glucose Test Strips Industry Report
This comprehensive report offers a deep dive into the blood glucose test strips industry, providing a detailed analysis of key market drivers and market segments. 糖心vlog传媒 offers customization based on your specific interests, including: 1. Technology - Glucose Dehydrogenase, Glucose Oxidase 2. Application - Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes, Pre-Diabetes
