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Report
Global Blood Glucose Test Strip Market Report and Forecast 2023-2031
Market Report I 2023-10-01 I 140 Pages I EMR Inc.
Global Blood Glucose Test Strip Market Report and Forecast 2024-2032
Global Blood Glucose Test Strip Market Outlook
The global Blood Glucose Test Strip market size was valued at USD 19.3 billion in 2023, driven by the growing need for regular blood glucose monitoring among diabetic patients to manage their condition effectively across the globe. The market size is anticipated to grow at a CAGR of 6.7% during the forecast period of 2024-2032 to achieve a value of USD 34.7 billion by 2032.
Blood Glucose Test Strip: Introduction
Blood glucose test strips are an essential component of blood glucose monitoring, primarily used by individuals with diabetes to manage their condition effectively. These small disposable strips play a crucial role in self-monitoring of blood glucose levels. They work by drawing a small drop of blood, typically from a fingertip, onto the test strip, which is then inserted into a blood glucose meter. The meter calculates the blood glucose concentration based on the chemical reaction that occurs on the strip, providing a quick and accurate reading. This simple yet vital technology enables individuals with diabetes to make informed decisions about diet, exercise, and medication, helping to maintain blood glucose levels within a target range.
The regular use of blood glucose test strips is instrumental in preventing the short and long-term complications of diabetes, thereby improving the quality of life for those managing this chronic condition.
Key Trends in the Global Blood Glucose Test Strip Market
The global market for blood glucose test strip was experiencing several transformative trends. Firstly, there was a growing prevalence of diabetes globally, fuelling the demand for blood glucose monitoring supplies. Alongside this, the trend towards self-management of diabetes was on the rise, leading to increased use of test strips for regular monitoring. Technological advancements were a prominent trend, with innovations leading to more accurate, faster, and easier-to-use test strips. There was also a notable shift towards continuous glucose monitoring (CGM) systems, which, while not eliminating the need for test strips, were changing usage patterns. In response, manufacturers were focusing on producing more cost-effective and user-friendly test strips to remain competitive.
The market was also witnessing a surge in the availability of generic or off-brand test strips, making glucose monitoring more accessible and affordable. However, challenges such as stringent regulatory requirements and concerns over the accuracy of some generic products were influencing market dynamics. Overall, these trends were shaping the future of the blood glucose test strip market, with implications for both manufacturers and users.
Global Blood Glucose Test Strip Market Segmentation
Market Breakup by Type
- Thick Film Electrochemical Films
- Thin Film Electrochemical Films
- Optical Strips
Market Breakup by Technology
- Glucose Oxidase
- Glucose Dehydrogenase
Market Breakup by Application
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
- Pre-Diabetes
- Others
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by End User
- Hospitals
- Home Care
- Diagnostic Laboratories
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Blood Glucose Test Strip Market Overview
The global blood glucose test strip market was a critical and expanding segment in diabetes care, reflecting the increasing prevalence of diabetes worldwide. The market was driven by the growing need for regular blood glucose monitoring among diabetic patients to manage their condition effectively. North America and Europe were leading regions in the market, attributed to their high diabetes prevalence, well-established healthcare systems, and heightened awareness of diabetes management. However, significant growth was also observed in Asia-Pacific, driven by increasing diabetes incidence, rising healthcare expenditures, and growing awareness about diabetes management in emerging economies.
The market comprised a range of products from both established healthcare companies and emerging players, fostering competition and innovation. Technological advancements were leading to the development of more accurate and user-friendly test strips, enhancing the user experience. Despite the growth, the market faced challenges such as price sensitivity, especially in low and middle-income countries, and competition from alternative glucose monitoring technologies like continuous glucose monitoring (CGM) systems. Nevertheless, the global Blood Glucose Test Strip market was expected to maintain robust growth, propelled by the essential need for blood glucose monitoring in diabetes care.
Global Blood Glucose Test Strip Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Abbott
- F. Hoffmann-La Roche Ltd
- LifeScan IP Holdings, LLC
- i-SENS, Inc.
- Ascensia Diabetes Care Holdings AG
- Universal Biosensors
- Nipro
- TaiDoc Technology Corporation
- APEX BIOTECHNOLOGY CORP.
- Betachek
- B. Braun Melsungen AG
- Terumo Corporation
- OMRON Corporation
- Bayer AG (Germany)
- GlaxoSmithKline plc
We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Blood Glucose Test Strip Market Overview
3.1 Global Blood Glucose Test Strip Market Historical Value (2017-2023)
3.2 Global Blood Glucose Test Strip Market Forecast Value (2024-2032)
4 Global Blood Glucose Test Strip Market Landscape
4.1 Global Blood Glucose Test Strip Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Blood Glucose Test Strip Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Technology
4.2.3 Analysis by Application
5 Global Blood Glucose Test Strip Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter's Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Blood Glucose Test Strip Market Segmentation
6.1 Global Blood Glucose Test Strip Market by Type
6.1.1 Market Overview
6.1.2 Thick Film Electrochemical Films
6.1.3 Thin Film Electrochemical Films
6.1.4 Optical Strips
6.2 Global Blood Glucose Test Strip Market by Technology
6.2.1 Market Overview
6.2.2 Glucose Oxidase
6.2.3 Glucose Dehydrogenase
6.3 Global Blood Glucose Test Strip Market by Application
6.3.1 Market Overview
6.3.2 Type 1 Diabetes
6.3.3 Type 2 Diabetes
6.3.4 Gestational Diabetes
6.3.5 Pre-Diabetes
6.3.6 Others
6.4 Global Blood Glucose Test Strip Market by Distribution Channel
6.4.1 Market Overview
6.4.2 Online
6.4.3 Offline
6.5 Global Blood Glucose Test Strip Market by End User
6.5.1 Market Overview
6.5.2 Hospitals
6.5.3 Home Care
6.5.4 Diagnostic Laboratories
6.5.5 Others
6.6 Global Blood Glucose Test Strip Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Blood Glucose Test Strip Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Blood Glucose Test Strip Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Blood Glucose Test Strip Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Blood Glucose Test Strip Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Blood Glucose Test Strip Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Supplier Landscape
16.1 Abbott
16.1.1 Financial Analysis
16.1.2 Product Portfolio
16.1.3 Demographic Reach and Achievements
16.1.4 Mergers and Acquisitions
16.1.5 Certifications
16.2 F. Hoffmann-La Roche Ltd
16.2.1 Financial Analysis
16.2.2 Product Portfolio
16.2.3 Demographic Reach and Achievements
16.2.4 Mergers and Acquisitions
16.2.5 Certifications
16.3 LifeScan IP Holdings, LLC
16.3.1 Financial Analysis
16.3.2 Product Portfolio
16.3.3 Demographic Reach and Achievements
16.3.4 Mergers and Acquisitions
16.3.5 Certifications
16.4 i-SENS, Inc.
16.4.1 Financial Analysis
16.4.2 Financial Portfolio
16.4.3 Demographic Reach and Achievements
16.4.4 Mergers and Acquisitions
16.4.5 Certifications
16.5 Ascensia Diabetes Care Holdings AG
16.5.1 Financial Analysis
16.5.2 Product Portfolio
16.5.3 Demographic Reach and Achievements
16.5.4 Mergers and Acquisitions
16.5.5 Certifications
16.6 Universal Biosensors
16.6.1 Financial Analysis
16.6.2 Product Portfolio
16.6.3 Demographic Reach and Achievements
16.6.4 Mergers and Acquisitions
16.6.5 Certifications
16.7 Nipro
16.7.1 Financial Analysis
16.7.2 Product Portfolio
16.7.3 Demographic Reach and Achievements
16.7.4 Mergers and Acquisitions
16.7.5 Certifications
16.8 TaiDoc Technology Corporation
16.8.1 Financial Analysis
16.8.2 Product Portfolio
16.8.3 Demographic Reach and Achievements
16.8.4 Mergers and Acquisitions
16.8.5 Certifications
16.9 APEX BIOTECHNOLOGY CORP.
16.9.1 Financial Analysis
16.9.2 Product Portfolio
16.9.3 Demographic Reach and Achievements
16.9.4 Mergers and Acquisitions
16.9.5 Certifications
16.10 B. Braun Melsungen AG
16.10.1 Financial Analysis
16.10.2 Product Portfolio
16.10.3 Demographic Reach and Achievements
16.10.4 Mergers and Acquisitions
16.10.5 Certifications
16.11 Betachek
16.11.1 Financial Analysis
16.11.2 Product Portfolio
16.11.3 Demographic Reach and Achievements
16.11.4 Mergers and Acquisitions
16.11.5 Certifications
16.12 Terumo Corporation
16.12.1 Financial Analysis
16.12.2 Product Portfolio
16.12.3 Demographic Reach and Achievements
16.12.4 Mergers and Acquisitions
16.12.5 Certifications
16.13 OMRON Corporation
16.13.1 Financial Analysis
16.13.2 Product Portfolio
16.13.3 Demographic Reach and Achievements
16.13.4 Mergers and Acquisitions
16.13.5 Certifications
16.14 Bayer AG (Germany)
16.14.1 Financial Analysis
16.14.2 Product Portfolio
16.14.3 Demographic Reach and Achievements
16.14.4 Mergers and Acquisitions
16.14.5 Certifications
16.15 GlaxoSmithKline plc
16.15.1 Financial Analysis
16.15.2 Product Portfolio
16.15.3 Demographic Reach and Achievements
16.15.4 Mergers and Acquisitions
16.15.5 Certifications
17 Global Blood Glucose Test Strip Market - Distribution Model (Additional Insight)
17.1 Overview
17.2 Potential Distributors
17.3 Key Parameters for Distribution Partner Assessment
18 Key Opinion Leaders (KOL) Insights (Additional Insight)
19 Company Competitiveness Analysis (Additional Insight)
19.1 Very Small Companies
19.2 Small Companies
19.3 Mid-Sized Companies
19.4 Large Companies
19.5 Very Large Companies
20 Payment Methods (Additional Insight)
20.1 Government Funded
20.2 Private Insurance
20.3 Out-of-Pocket
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