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Blood Glucose Test Strips Market Size, Share | Forecast 2031

Blood Glucose Test Strip Market

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Segments - by Components (Blood Glucose Test Strips), Regions (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]) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

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Author:

Raksha Sharma

Fact-checked by:

Vineet Pandey

Editor:

Shreyas Tandon

Report Description

Blood Glucose Test Strip Market Outlook 2031:

The global blood glucose test strip market size was valued at USD 13.07 Billion in 2022 and is projected to reach USD 22.46 Billion by 2031, expanding at a CAGR of 6.2% during the forecast period 2023 - 2031. 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.

Blood Glucose Test Strip Market Trends, Drivers, Restraints, and Opportunities

Increasing diabetic population worldwide is expected to drive the blood glucose test strip market during the forecast period.
Growing requirement of test strips among sufferers for constant monitoring of blood glucose level is estimated to boost the market.
Rising consumption of junk food on irregular time intervals and lack of physical activities is anticipated to drive the market during projected period.
Rising awareness about the use of test strips is anticipated to fuel the blood glucose test strip market growth.
Changing lifestyle such as consumption of alcohol and smoking amongst the population leading the cause of diabetes and is expected to propel the market during forecast period.
R&D and technological advancement by the government towards better and effective product line is estimated to propel the market during projected period.
Expensive strips, diabetic management services and expenses incurred by the sufferer from their own pocket act as major factor hampering the blood glucose test strip market growth.

Scope of Blood Glucose Test Strip 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	2022
Historic Data	2016 – 2021
Forecast Period	2023 – 2031
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.

Blood Glucose Test Strip Market segment insights

The blood glucose test strip segment is expected to exhibit high CAGR

Based on the components, the blood glucose test strip 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.

The North America is estimated to dominate the market

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.

Segments

Blood glucose test strip market has been segregated on the basis of

Components

Blood glucose test strips

Regions

North America
Europe
Asia Pacific
Latin America
Middle east & Africa

Key Players

Abbott
Roche
ARKRAY, Inc.
Ascensia Diabetes Care
LifeScan IP Holdings, LLC.

Competitive Landscape

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.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Blood Glucose Test Strips Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Blood Glucose Test Strips Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Blood Glucose Test Strips Market - Supply Chain
  4.5. Global Blood Glucose Test Strips Market Forecast
     4.5.1. Blood Glucose Test Strips Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Blood Glucose Test Strips Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Blood Glucose Test Strips Market Absolute $ Opportunity
5. Global Blood Glucose Test Strips Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Blood Glucose Test Strips Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Blood Glucose Test Strips Demand Share Forecast, 2019-2026
6. North America Blood Glucose Test Strips Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Blood Glucose Test Strips Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Blood Glucose Test Strips Demand Share Forecast, 2019-2026
7. Latin America Blood Glucose Test Strips Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Blood Glucose Test Strips Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Blood Glucose Test Strips Demand Share Forecast, 2019-2026
8. Europe Blood Glucose Test Strips Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Blood Glucose Test Strips Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Blood Glucose Test Strips Demand Share Forecast, 2019-2026
9. Asia Pacific Blood Glucose Test Strips Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Blood Glucose Test Strips Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Blood Glucose Test Strips Demand Share Forecast, 2019-2026
10. Middle East & Africa Blood Glucose Test Strips Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Blood Glucose Test Strips Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Blood Glucose Test Strips Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Blood Glucose Test Strips Market: Market Share Analysis
  11.2. Blood Glucose Test Strips Distributors and Customers
  11.3. Blood Glucose Test Strips Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott Roche ARKRAY, Inc. Ascensia Diabetes Care LifeScan IP Holdings, LLC.

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