Blood Glucose Test Strip Market is Poised to Witness High Growth Due to Increasing Diabetes Prevalence

Blood Glucose Test Strip Market

Blood glucose test strips are thin, plastic strips that are used in handheld devices called glucometers to measure the concentration of glucose in the blood. Glucose levels are usually measured to monitor diabetes or check for hypoglycemia. Blood glucose test strips enable diabetics to effectively manage their blood glucose levels and determine insulin requirements. The increasing prevalence of diabetes across the globe is a major factor fueling the demand for blood glucose test strips.

The Global Blood Glucose Test Strip Market is estimated to be valued at US$ 12.33 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 To 2031.

Diabetes is a metabolic disorder in which the body is unable to produce enough insulin or properly use the insulin it produces, resulting in elevated levels of glucose in the blood. According to the International Diabetes Federation (IDF), around 537 million adults aged 20–79 years suffered from diabetes worldwide in 2021, and this figure is projected to reach 643 million by 2030 and 783 million by 2045. Blood Glucose Test Strip Market Size enable convenient self-monitoring of blood glucose levels for diabetic patients, providing essential real-time feedback to control blood sugar levels and manage the disease. Additionally, test strips enable timely detection of hypoglycemia, which can be life-threatening if not addressed immediately. Growing diabetes prevalence around the world is thus significantly augmenting the demand for blood glucose test strips for effective disease management.

Key Takeaways

Key players operating in the Blood Glucose Test Strip Market are BASF SE, SINOYQX, Puyang Green Yingli New Material Tech Co. Ltd, BEIJING GUOJIAN ANKE, ZHEJIANG LIN'AN YUNQING MELAMINE PLASTIC FOAM CO. These players are focusing on new product launches, partnerships, and regional expansion to gain market share and cater to the growing demand. Rising diabetes incidence rates provide significant opportunities for market players to increase penetration in emerging markets through subsidized product pricing and improved accessibility. Additionally, emerging online sales platforms are helping companies reach a wider customer base and drive global market revenue growth. Key market players are also exploring opportunities in Asia Pacific and Middle Eastern countries through joint ventures and acquisitions to establish manufacturing and distribution facilities for long-term regional market dominance.

Market Drivers

Growing geriatric population: The risk of developing diabetes increases with age. As average life expectancy rises globally, the geriatric population vulnerable to diabetes is growing rapidly. Since diabetics require long-term monitoring and management of blood glucose levels, rising geriatric numbers directly augment test strip demand.

Technological advancements: Continuous innovation is helping manufacturers launch more accurate and convenient blood glucose monitoring solutions. Smart connected devices and test strips with advanced sensing chemistry are improving compliance and driving repeat purchases.

Market Restraints

Alternative monitoring technologies: The emergence of non-invasive continuous glucose monitoring systems threatens the demand for conventional test strips. Enhanced sensor accuracy and wearable convenience provided by alternative methods are diverting patients and healthcare providers.

High costs: Despite health insurance coverage for chronic disease management in developed countries, out-of-pocket costs for test strips place financial constraints. This limits adoption, particularly in developing regions with large diabetic populations.

Segment Analysis

The Blood Glucose Test Strip Market can be segmented based on technology namely electrochemical and photoelectric. The electrochemical segment dominates the market and accounts for over 70% share owing to its ease of use and low cost. It is based on the electrochemical reaction taking between the glucose present in the blood and its sensing component. This reaction generates an electrical signal that is proportional to the glucose concentration and can be measured easily.

Global Analysis

Regionally, North America dominates the global blood glucose test strip market with a share of over 35% due to favourable reimbursement policies and awareness about diabetes diagnosis and management. However, Asia Pacific is projected to witness the fastest growth during the forecast period owing to rising geriatric population, growing healthcare spending and increasing prevalence of diabetes. China accounts for over 50% share of the APAC market supported by presence of leading manufacturers and huge patient base. Other emerging economies like India are also expected to offer lucrative opportunities for market players.

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