The report on Blood Glucose Test Strips Market (by technology (channel technology, and wicking technology), sales channel (hospital pharmacies, retail pharmacies, and online pharmacies)) provides complete and deep insights into the market dynamics and growth of blood glucose test strips.
The latest information on market risks, industry chain structure blood glucose test strips cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential blood glucose test strips growth factors. According to the report, the global blood glucose test strips market is projected to grow at a CAGR of 4.1% over the forecast period of 2018-2024.
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Blood glucose test strips are one of the main tools involved in monitoring and controlling glucose level in the blood. Blood glucose test strips are small and disposable plastic strips. Blood glucose test strips may appear insignificant but play a very significant role in helping people who are living with diabetes in order to monitor appropriately and control the glucose level in the blood. In Type 1 and Type 2 diabetes that are the most common forms of diabetes and blood glucose test strips used to determine the level of glucose or sugar in the patient’s bloodstream. Blood glucose test strips identify periods of high or low blood glucose levels. Blood glucose test strips lower risk of serious diabetic complications as well as improves long-term glycemic control.
Growing Prevalence of Diabetes Mellitus Drives the Growth of Blood Glucose Test Strips Market
The growing prevalence of diabetes mellitus drives the growth of blood glucose test strips market. The occurrence of diabetes is increasing owing to the aging population, family history, obesity, physical inactivity, poor diet, and certain ethnicities. Moreover, increasing awareness regarding health issues boosts the growth of blood glucose test strips market. Type 2 diabetes accounts for about 90 to 95 percent of all diagnosed cases of diabetes in adults. Increasing incidence of people with type 1 and type 2 diabetes coupled with increasing demand for blood glucose test strips. However, factors such as temperature, humidity as well as storage methods of the strips may hamper the growth of blood glucose test strips market. Advancement in technology provides beneficial opportunities for blood glucose test strips market.
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North America Dominates the Blood Glucose Test Strips Market
Geographically, North America dominates the blood glucose test strips market. Growing health concerns, as well as the availability of pharmaceutical hospital, boosts the growth of blood glucose test strips market in the region. According to the Food and Drug Administration (FDA) over 30 different blood glucose monitors cleared by the U.S. that are available to consumers. Ongoing research and development activities as well as government initiatives regarding diabetes fuel the growth of blood glucose test strips market in the region. Europe is the second largest region in the blood glucose test strips market. In the Asia Pacific region, China and India account for 109.68 million and 69.25 million diabetes patients respectively. The USA has more than 30.04 million diabetic patients. Rising occurrence of diabetic patients coupled with rising demand for blood glucose test strips market in the region.
Blood Glucose Test Strips Market: Segmentation
The report on global blood glucose test strips market covers segments such as technology, and sales channel. On the basis of technology, the sub-markets include channel technology and wicking technology. On the basis of the sales channel, the sub-markets include hospital pharmacies, retail pharmacies, and online pharmacies.
Blood Glucose Test Strips Market: Competitive Landscape
The report provides profiles of the companies in the market such as PHC Holdings Corporation, F. Hoffmann-La Roche Ltd, Sandoz International GmbH, LifeScan, Inc., HMD BioMedical Inc., Beijing Yicheng Electronic Technology Co., Ltd., Universal Biosensors, BioSensors, Inc., TaiDoc Technology Corporation, i-SENS, and Bayer AG.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the blood glucose test strips.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.