Glucose Test Strips Market: Technology Advancements, Market Dynamics, and Growth Opportunities

Glucose Test Strips Market size was USD 12.35 Billion in 2021 and is expected to register a revenue CAGR of 6.1% during the forecast period.

The glucose test strips market refers to the industry involved in the manufacturing and distribution of test strips used for monitoring blood glucose levels. Glucose test strips are small strips of paper or plastic that contain chemicals capable of measuring glucose levels in a blood sample. They are commonly used by individuals with diabetes to monitor their blood sugar levels regularly.

The market for glucose test strips has witnessed significant growth due to the increasing prevalence of diabetes globally. As diabetes requires lifelong management and monitoring, glucose test strips play a crucial role in helping individuals with diabetes maintain optimal blood sugar control.

Glucose test strips are typically used in conjunction with glucose meters or blood glucose monitoring systems. The process involves obtaining a small blood sample, usually by pricking the fingertip with a lancet, and applying the blood to the test strip. The strip is then inserted into a glucose meter, which provides a digital readout of the blood glucose level.

Key factors driving the glucose test strips market include:

1. Rising Diabetes Prevalence: The increasing incidence of diabetes worldwide is a major driver for the glucose test strips market. According to the International Diabetes Federation (IDF), the number of people with diabetes is expected to rise significantly in the coming years. This, in turn, fuels the demand for glucose test strips for regular monitoring and management of blood glucose levels.
2. Self-Monitoring of Blood Glucose (SMBG): Self-monitoring of blood glucose is an essential practice for individuals with diabetes to manage their condition effectively. Glucose test strips provide a convenient and accessible way to monitor blood sugar levels at home, enabling individuals to make informed decisions regarding their diet, medication, and overall diabetes management.
3. Technological Advancements: The glucose test strips market has witnessed technological advancements, leading to the development of more accurate and user-friendly test strips. Manufacturers have introduced features such as biosensor technology, smaller sample size requirements, faster results, and enhanced accuracy, improving the overall user experience and reliability of glucose monitoring.
4. Increasing Adoption of Continuous Glucose Monitoring (CGM): While traditional glucose test strips are widely used, there is a growing adoption of continuous glucose monitoring systems, which offer real-time glucose monitoring throughout the day. However, even with CGM systems, glucose test strips are often used for calibration and confirmatory testing, contributing to the continued demand for test strips.
5. Expansion in Emerging Markets: The glucose test strips market is expanding in emerging markets due to increasing awareness, improving healthcare infrastructure, and the rising prevalence of diabetes in these regions. Manufacturers are targeting emerging economies to tap into the growing diabetic population and provide affordable and accessible glucose monitoring solutions.
6. Regulatory Standards and Reimbursement Policies: Stringent regulatory standards and reimbursement policies play a crucial role in the glucose test strips market. Manufacturers need to comply with regulations set by regulatory bodies, such as the U.S. Food and Drug Administration (FDA), to ensure the safety and effectiveness of their products. Reimbursement policies also influence the adoption of glucose test strips, as coverage by insurance plans can impact patient affordability and usage.

Market Dynamics:

Driver: Increasing global prevalence of type-2 diabetes is driving the blood glucose test strips market revenue growth

Diabetes is known to be brought on by a number of variables, such as weight increase and obesity, family history, excessive food consumption, lack of physical activity and sedentary lifestyle, and even pregnancy. Diabetes over a long period of time can cause renal damage, neurological issues, and CVDs among other things. The prevalence of several ailments linked to diabetes has also been rising recently at a markedly constant rate. The International Diabetic Federation (IDF) Atlas estimates that there will be 536 million diabetic patients worldwide by 2021, up from 366 million in 2011. According to WHO figures, CVDs cause about 17.9 million fatalities per year. The mortality rate can be decreased by managing diabetes by routinely checking blood sugar levels. Patients can easily check their blood sugar levels with the use of analytical test strips and blood glucose test kits, which come with a glucometer. Hypoglycemia, which happens when blood glucose levels fall below 70 mg/dL, is typically seen in elderly people who are receiving treatment for several illnesses. Regular blood glucose monitoring can control the common causes of hypoglycemia, including fasting, insulin use, and alcohol use.

Diabetes is usually linked to nephropathy, also known as end-stage renal disease (ESRD), which is a decline in kidney function. Over 50,000 deaths were linked to ESRD globally over a six-month period in 2020. The disease can be managed by managing excessive blood pressure and diabetes. Blood glucose test strips are becoming more popular due to an increase in renal failure cases around the world, which is likely to drive market revenue growth. Unless it is treated, diabetic ketoacidosis (DKA), which is brought on by the metabolism of fat owing to a glucose deficit and resulting in an accumulation of ketones in the blood and a lowering of pH, is a life-threatening condition. Patients with DKA are able to maintain control over their blood glucose levels and prevent potential severity thanks to SMBG devices, particularly test strips.

Restraint:

Some patients are reluctant to undergo the finger-prick procedure required for glucose testing on strips.

A lancet is included in glucometer test kits, and it is used by the patient to prick their finger to take blood for the test strip. However, because of the discomfort associated with this technique, some individuals are reluctant to submit to such examinations. The strips are susceptible to variations in temperature, sample quality, and humidity and have short shelf lives, cannot be reused. Additionally, for diabetic individuals who also have hypotension, anaemia, and decreased hematocrit, glucometer readings are not thought to be accurate. Although the cost of the equipment is an initial outlay, the burden on patients is increased by the significantly high cost of test strips. This, among other things, is a significant element that is anticipated to somewhat restrain market revenue growth.

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Market Segmentations:

Global Glucose Test Strips Market: By Company
• Roche
• Lifescan
• Bayer
• Abbott
• ARKRAY
• I-SENS
• Omron
• B. Braun
• 77 Elektronika
• Nipro Dagnostics
• AgaMatrix
• Infopia
• All Medicus
• Terumo Corporation
• Hainice Medical

Global Glucose Test Strips Market: By Type
• Glucose Oxidase Test Strips
• Glucose Dehydrogenase Test Strips
• Other

Global Glucose Test Strips Market: By Application
• Hospital
• Clinic
• Retail

Global Glucose Test Strips Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Glucose Test Strips market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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