Blood Glucose Test Strips Market Size, Share, Trends, Growth and Forecast 2032

The global Blood Glucose Test Strips Market size was worth around USD 10.36 Billion in 2023 and is predicted to grow to around USD 17.13 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.75% between 2024 and 2032.

The report covers forecast and analysis for the blood glucose test strips market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

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Blood Glucose Test Strips Market: Overview

Blood glucose testing or monitoring is used to determine the quantity of glucose or sugar in the patient’s bloodstream. The glucose screening is conducted to check gestational, type 1, and type 2 diabetes. The blood glucose test strips are significant tools used in the blood glucose screening or monitoring. These small strips play a very important role in assisting people suffering from diabetes to keep a check on their blood glucose levels and control the levels. A blood glucose test strip is prepared from numerous layers that help in providing precise test results. The topmost layer of the strip acts as a small sponge which soaks the blood sample. The middle layers of the glucose strips act as a filter and help in focusing the blood sample to the reaction center of the strip. The next layer of the glucose strip consists of an enzyme that reacts with the blood sugar present in the sample, a mediator chemical that helps in channelizing the electrons along with the strip’s circuit to provide an accurate reading and a mixture of chemicals that work to preserve and stabilize the mediator chemicals and enzyme. A palladium and gold covered circuit are there at the bottom of the strip that helps in transferring the electrons to the meter for final measurement.

The study includes drivers and restraints for the blood glucose test strips market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the blood glucose test strips market on a global level.

The blood glucose testing strips market is driven by the sector that manufactures, distributes, and sells test strips used to measure levels of sugar in people with diabetes. These test strips are usually used in conjunction with glucose meters or glucometers, which determine the level of blood glucose on a numerical basis. The increasing incidence of diabetes worldwide has been a major factor behind the demand for glucose test strips. The disease is a lifelong condition affecting the body's ability to regulate its blood sugar levels, which requires regular monitoring of glucose in order to effectively manage diabetes. Consequently, people with diabetes regularly use test strips to monitor their blood glucose levels several times a day. Technology advancements have made it possible to develop more advanced test tubes, which include features such as lower sample sizes and quicker results, Bluetooth connectivity with mobile devices for data transmission or compatibility with continuous glucose monitoring systems. This innovation is intended to enhance the user experience, allowing better management of diabetes.

Global Blood Glucose Test Strips Market: Growth Factors

Blood glucose test strips market is expected to have a moderate growth during the forecast period attributing to the increasing incidences of diabetes mellitus, in turn increasing the demand for screening and monitoring technologies. Furthermore, rising elderly population and the alarming rate of increasing number of type-2 diabetes mellitus are driving factors for the blood glucose test strips market. The blood glucose test strips are easy to use and do not require skilled professionals. The concentrated efforts by pharmaceutical companies, skilled health care professionals and government officials to instruct people about the importance of diabetes test strips are also anticipated to have a positive impact on the growth of the market during the forecast period. Advances in screening and monitoring technology for blood glucose are also making it suitable and easier to carry out tests among patients who are uncertain to perform tests because of infection. On the other hand, it is observed that it is quite complex to educate the diabetes patients about the significance and criticality of recurrent testing of blood glucose levels so that they can manage their blood glucose levels safely. This aspect can have a harmful impact and can hamper the growth of the blood glucose test strips market during the forecast period 2024-2032.

In order to give the users of this report a comprehensive view of the blood glucose test strips market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein technology, sales channel, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the market on the global and regional basis. 

Global Blood Glucose Test Strips Market: Segmentation

The study provides a decisive view of the blood glucose test strips market by segmenting the market based on technology, sales channel, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024.

Based on technology, blood glucose test strips market has been segmented into channel technology and wicking technology.

Based on the sales channel, the blood glucose test strips market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies.

Based on region, blood glucose test strips market is further segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. 

Blood Glucose Test Strips Market: Report Scope

Global Blood Glucose Test Strips Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further bifurcation into major countries including the U.S. Germany, France, the UK, China, Japan, India, and Brazil. This segmentation includes demand for blood glucose test strips market based on individual segment and sales channel in all the regions and countries.

North America is anticipated to remain the principal region over the forecast period. Rising healthcare understanding and awareness about the screening and monitoring technology for diabetes is expected to boost the market in this region. Europe was the second largest market followed by the Asia Pacific. The Asia Pacific is probably expected to show the highest growth rate during the forecast period while Latin America market is projected to grow at a moderate rate during the forecast period. The Middle East and Africa region are also expected to show a noticeable growth in the years to come with increasing awareness.

The key players in the global Blood Glucose Test Strips Market are -

The report also includes detailed profiles of end players such as -

• Abbott Laboratories
• Bayer Healthcare AG
• B.Braun Melsungen Ag
• i-SENS. Inc.
• AgaMatrix (US)
• TaiDoc Technology Corporation
• BioSensors
• Universal Biosensors
• Beijing Yicheng Electronic Co.
• HMD Biomedical
• LifeScan
• F.Hoffmann-La Roche Ltd. 

This report segments the global blood glucose test strips market as follows:

Global Blood Glucose Test Strips Market: By Technology

• Channel Technology
• Wicking Technology

Global Blood Glucose Test Strips Market: By Sales Channel     

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies

Global Blood Glucose Test Strips market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa