The global blood glucose test strips market is forecast to reach USD 6.92 Billion by 2027, according to a new report by Reports and Data. Blood glucose strips are one of the key components to test the glucose level of a sample blood. The sample blood is put onto the strip and then the other end of the test strip is placed inside the blood glucose test meter. The glucose oxidase provided by each test strip help determine the testing meter of the glucose level of blood. The global market is growing at a substantial pace as the amount of diabetes patients and patients with pre-diabetes symptoms are drastically being propelled. Type 2 diabetes by application is calculated to dominate the market. Amongst the end-users, the hospitals sub-segment is leading in the market due to the highest number of test and use of the strips in the hospitals. The use of alternatives to blood glucose strip test are predominantly restraining the market growth.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/2398
The North American market is forecasted to generate the highest revenue of USD 2.44 Billion in the year 2027, owing to its huge demand for blood glucose test strips in the hospitals and individuals sub-segments. Asia Pacific, with its elevated increase of using the test strips over other alternatives and a drastic increase in the number of diabetes patients in China, India, and Japan, are likely to surpass the European market. China and India are some of the fastest-growing markets, while the United States and Switzerland hold some of the most prominent players in the market.
Further key findings from the report suggest
- Online retailing supply of the blood glucose test strips has been trendy especially in emerging nations like China and India mainly. Online retailers can offer reduced prices compared to the pharmacies & medical stores due to the non-involvement of the sub-distributors chain in the process. This sub-segment is expected to grow at a CAGR of 7.4% during the forecast period.
- The hospitals around the world have been incorporating the blood glucose test strips to test out the blood glucose levels for its superfast output and nearly accurate results. The hospitals sub-segment is expected to reach a market share of 59.8% by 2027 and the CAGR is forecasted to be 5.9% during the period 2019 – 2027.
- Use and through strips are standard blood glucose test strips which are available at a very low cost. These strips require the blood glucose level testing meter in order to get the final result. On the other hand, the built-in indicator is a special kind of blood glucose test strips that come with the regents inbuilt which changes the color and indicates the level based on the chart of specified colors provided. These testing strips are less accurate than the blood glucose test meters used with the use-and-throw-type sub-segment.
- European region is forecasted to witness a significant growth in the overall market, with 27.6% of market possession by 2027, having grown with a CAGR of 6.3% during the forecast period. Germany holds some of the most prominent players in this region.
- Key participants include F. Hoffmann-La Roche AG, Abbott Laboratories, Ascensia Diabetes Care Holdings AG, LifeScan, Inc., AgaMatrix, Inc., Trividia Health, Inc., B. Braun Melsungen AG, Sanofi, Ypsomed, and Nipro.
Order Now: https://www.reportsanddata.com/checkout-form/2398
For the purpose of this report, Reports and Data have segmented the global blood glucose test strips market on the basis of strips type, sales channel, applications, end-users, and region:
Strips Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)
- Use and Through
- Built-in Indicator
Sales Channel Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)
- Online Retailing
- Pharmacies & Medical Store
Application Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
- Pre-Diabetes
End-Users Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)
- Hospitals
- Clinics & Diagnostic Centers
- Individuals
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/blood-glucose-test-strips-market
Regional Outlook (Revenue, USD Million; 2016-2027)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John Watson
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
