Increasing demand for the blood glucose test strips in the online retailing channel coupled with high investments in R&D of blood glucose testing strips amongst the players in the market are fueling the market growth.
New York City, United States – June 9, 2020 /MarketersMedia/ —
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.
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The report covers the following companies:
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.
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
Regional Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
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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.
Go through our meticulously drafted TOC, Tables, Statistics, Charts, and Company profiles: https://www.reportsanddata.com/report-detail/blood-glucose-test-strips-market
The research report by Reports and Data analyzes and forecasts the Blood Glucose Test Strips Market at the global and regional levels. The market has been projected in terms of volume and price for the forecast period. The report also sheds light on the various opportunities within the market.
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