Blood Glucose Test Strip Market Research Report - Forecast to 2027

Global Blood Glucose Test Strip Market – Segments

MRFR has segmented its analysis into two Key dynamics for an easy grasp;

By Technologies: Includes Thick-Film Electrochemical, Thin Film Electrochemical, and Optical among others.

By Regions:  Europe, North America, APAC and Rest-of-the-World (RoW).

Global Blood Glucose Test Strip Market – Geographical Analysis

The North American region accounts for the leading market for blood glucose test strip, followed by Europe and the Asia Pacific, respectively.  North America being a well-developed region has the edge over other regions, especially in terms of healthcare and technology. With its highest GDP and hence, the highest healthcare expenditures the region has a well-established healthcare sector that provides the best quality care.

Factors such as the huge patient pool suffering from diabetes, development in medical technology, and the presence of key manufacturers in the region are supporting the growth of the market.  Countries such as the U.S. and Canada, backed by the increasing prevalence of diabetes among people contribute to the market growth in region to an extent.

The European region is the world’s second-largest market for blood glucose test strip, following the North American market closely. Factors predominantly driving the market growth include the proliferating healthcare infrastructure, availability of funds for R&D, a huge population of diabetic patients, and the governmental support for research & development.

Certainly, the resurging economy is a key force driving the market growth in the region, allowing access to the quality life and a great care. Germany, heading with its flourishing medical devices market significantly contributes to the growth of the regional market. Moreover, the U.K. and France with the increasing investment in glucometers and stripes drive the regional market at a large scale. Owing to the augmenting demand for the blood glucose test strip, the region is projected to create a larger revenue pocket in the global market by 2027.

The Asia Pacific market is rapidly emerging as one of the promising markets for the blood glucose test strip, globally.  The region is expected to witness a spurting growth over the projected period. Increasing healthcare expenditures along with the favorable government policies of some of the developing economies such as India and China support the market growth in APAC largely.

Blood glucose test strip market in the Asia Pacific region is growing rapidly owing to the huge population of diabetic patients and the improving economic conditions in the region. Countries such as China, Japan, South Korea, and India are witnessing spurting growth in the healthcare sector due to the augmenting demand for quality healthcare and rapidly developing healthcare technology led by the rising economy, which, in turn, supports the market growth in the region.

Blood Glucose Test Strip Market – Competitive Landscape

Manufacturers bank on accuracy and collaboration to develop new technology. Forming partnerships with the players in diabetes technology is their growth mantra. The highly competitive blood glucose test strip market appears to be fragmented owing to the several big and small players along with the new entrants churning the competition in the market. Key market players are focusing on optimized situational awareness for customers, ensuring their mission success.

Matured players, through various strategic initiatives such as M&A activities, collaboration & innovations are constantly seeking market expansion.  They increasingly invest in R&D activities and possess state of the art facilities along with the strong sales and distribution network. Marketers operating in the industry are focusing on inbound lead generation more than ever.  Marketers look for ROI-oriented strategies that can pay off quickly.

Key Players:

Fervent players operating in the market include Abbott Laboratories, Acon Laboratories, Inc, Allmedicus, Apex Biotechnology Corporation, Ascensia Diabetes Care Holdings A G, B.Braun Melsungen AG, HMD Biomedical, I-Sens, Inc., Lifescan, Inc., Roche Diagnostics, and Taidoc Technology Corporation.

Industry, Innovation & Related News

October 23, 2018 – Innovus Pharmaceuticals, Inc. (US), a leading global pharmaceutical company receiving approval for Medicare reimbursement for its GlucoGorx™ Blood Glucose Monitoring System and GlucoGorx™ Blood Glucose Test Strip Products from the U.S. Centers for Medicare and Medicaid Services.

October 04, 2018 – Lifescan, Inc. (US), a leading global manufacturer of blood glucose monitoring, introduced its latest innovation—the OneTouch Verio Reflect™ blood glucose meter at the European Association for the Study of Diabetes (EASD) 2018 annual meeting. At the event, the company also explained the future of connected self-monitoring of blood glucose.

Blood Glucose Test Strip Market Information by Technology (Thick Film Electrochemical, Thin Film Electrochemical, Optical) - Forecast to 2027 : https://www.marketresearchfuture.com/reports/blood-glucose-test-strip-market-892