The blood glucose test strip market is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of market is attributed to constant administration of sugar level requirement in blood. The cost of each strip varies from 50 cents per piece to USD 5 per strip. Price often plays a major role while purchasing these blood glucose test strips.
The monitoring frequency of blood sugar level varies from patient to patient and the type of diabetes they are suffering from, Type 1 diabetic patient needs to check the sugar level on a regular interval basis and on time to time adjust the dosage of insulin.
However if the sufferer carry out 5-6 checks on a daily basis the minimum expenditure that the patients have to bear is approximately USD 180/month. This act as an additional burden on the sufferer adding with the cost incurred in the procedure of diabetic management.
Furthermore, significant investment in research and development activities to introduce enhanced product along with effective and developed new strips. On the other hand government initiative, changing lifestyles, growing urbanization are some factors driving the market.
The report on the global blood glucose test strips market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Blood Glucose Test Strips Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Components (Blood Glucose Test Strips) |
Regional Scope | North America [United states, Canada, Rest of North America], Europe [Germany, United Kingdom, Spain, France, Italy, Russia, Rest of Europe], Asia Pacific [Japan, China, India, South Korea, Australia, Indonesia, Thailand, Malaysia, Vietnam, Rest of Asia Pacific], Latin America [Mexico, Brazil, Rest of Latin America], Middle East & Africa [Saudi Arabia, South Africa, Iran, Egypt, Oman, Rest of Middle East & Africa] |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Abbott; Roche; ARKRAY, Inc; Ascensia Diabetes Care; LifeScan IP Holdings, LLC. |
Based on the components, the market is segregated into blood glucose test strip. The segment blood glucose test strip is expected to exhibit high CAGR during the forecast period owing to user friendly glucometers patients can use it personally can administer the sugar level and accordingly alter the medication.
In terms of regions, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to dominate the market in the coming years due to government support to head on with the disease, investment and research in diabetes and development of effective product line to cater the demand of the diabetic patients.
Blood glucose test strip market has been segregated on the basis of
Key players competing in the blood glucose test strips market include Abbott; Roche; ARKRAY, Inc; Ascensia Diabetes Care; LifeScan IP Holdings, LLC.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Blood glucose test strip market has been segregated on the basis of
Key players competing in the blood glucose test strips market include Abbott; Roche; ARKRAY, Inc; Ascensia Diabetes Care; LifeScan IP Holdings, LLC.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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