The global demand for Blood Glucose Test Strips Market is presumed to reach the valuation of nearly USD XXX MN by 2027 from USD XXX MN in 2020 with a CAGR of X.XX% under the study period of 2020 - 2027.
Blood glucose test strips are manufactured by fabric material wrapped up with electrodes, sensors, and enzymes. These strips are thin paper or plastic strips that help monitor blood glucose levels and control diabetes symptoms. The test strip is mainly composed of several layers. The top layer includes a mini-sponge to soak up the blood sample. The middle layer operates as a filter to channel the blood sample to the reaction center. At the same time, the next layer includes an enzyme that reacts with blood glucose. Finally, the bottom layer contains gold and palladium-coated circuit that transfers the reaction electrons to the meter for analysis. When blood is deposited onto the test strip, it reacts with a chemical known as glucose oxidase to produce gluconic acid from the blood's glucose.
The market is mainly driven by the increasing number of diabetic patients globally. The rising investments in R&D activities towards improvements in the existing product line and developing new effective strips are some significant factors rising the market globally. Further, increasing awareness, rapid industrialization and urbanization, government initiatives, and changing lifestyles are some other factors that are encouraging market growth. However, the availability of substitute testing methods and reducing the product's price faced with these substitutes are the significant factors that might hamper the market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of blood glucose test strips.
The report segments the blood glucose test strips market and analyses it with respect to the geography, intending to keep the marketer informed and help them identify the target demographics for the product or service.
By Strips Type
- Use and Throw
- Built-in Indicator
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
- Clinics & Diagnostic Centers
This section covers regional segmentation which accentuates on current and future demand for blood glucose test strips market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Blood Glucose Test Strips Market by Revenue (USD MN)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the blood glucose test strips market include Ascensia Diabetes Care, Bionime Corporation, Johnson & Johnson, Roche, Rossmax, Trivida, Arkray, Agamatrix Inc., Acon, and Abbott Diabetes Care.S. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.