Zion Market Research has published a new report titled “Blood Glucose Test Strips Market by Drug Technology (Channel Technology and Wicking Technology), By Sales Channels (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Industry Perspective, Comprehensive Analysis, and Forecast , 2018-2024 ”. According to the report, global blood glucose test strips market was valued at approximately USD 11.04 billion in 2017 and is expected to generate revenue from around USD 17.44 billion by end of 2024, growing at a CAGR of around 6.70% between 2018 and 2024.
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Blood glucose test strip is a small non-reusable plastic strip. It is an important component of blood glucose meter which monitors as well as controls diabetes. These blood glucose strips are impregnated with an enzyme, glucose oxidase, which reacts with glucose present in the blood and then indicates the sugar level in the blood. Blood glucose testing or monitoring is used to determine the quantity of glucose or sugar in the patient’s bloodstream. The glucose screening is conducted for gestational check, type 1 and type 2 diabetes. The blood glucose test strips are significant tools used in the blood glucose screening or monitoring. These small strips play a very important role in assisting people suffering from diabetes to keep a check on their blood glucose levels and control the levels. A blood glucose test strip is prepared from numerous layers which help in providing accurate test results.
Blood glucose test strips market is expected to have a moderate growth during the forecast period attributing to the increasing incidences of diabetes mellitus, in turn increasing the demand for screening and monitoring technologies. Furthermore, increasing elderly population and an alarming rate of increasing number of type-2 diabetes mellitus are driving factors for the blood glucose test strips market. The blood glucose test strips are easy to use and do not require skilled professionals. The concentrated efforts by pharmaceutical companies, skilled healthcare professionals, and government officials to instruct people about the significance of diabetes test strips are also anticipated to have a positive impact on the growth of the market during the forecast period. Advances in screening and monitoring technology for blood glucose are also making it suitable and easier to carry out tests among patients who are uncertain to perform tests because of infection.
Based on the technology, blood glucose test strips market has been segmented into channel technology and wicking technology. Based on the sales channel, blood glucose test strips market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on region, blood glucose test strips market is further segmented into North America, Europe, Latin America, the Middle East & Africa, and the Asia Pacific.
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North America is anticipated to remain the main region over the forecast period. Rising healthcare understanding and awareness about screening and monitoring technology for diabetes is expected to boost the market in this region. Europe was the second largest market followed by the Asia Pacific. The Asia Pacific is probably expected to show the highest growth rate during the forecast period while Latin America market is projected to grow at a moderate rate during the forecast period. The Middle East and Africa region are also expected to show a noticeable growth in the years to come with increasing awareness.
Some of the key players in blood glucose test strips market consist of Abbott Laboratories, B. Braun Melsungen Ag, i-SENS. Inc., AgaMatrix, Bayer Healthcare AG, TaiDoc Technology Corporation, BioSensors, Inc., Universal Biosensors, Beijing Yicheng Electronic Co., Ltd., HMD Biomedical, LifeScan, Inc., and F.Hoffmann-La Roche Ltd., others others .
This report segments the global blood glucose test strips market as follows:
Global Blood Glucose Test Strips Market: By Type
Global Blood Glucose Test Strips Market: By Sales Channel
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Global Blood Glucose Test Strips Market: By Region
The Middle East and Africa