The report "GLOBAL BLOOD GLUCOSE TEST STRIPS MARKET SEGMENTED BY TECHNOLOGY (WICKING TECHNOLOGY, CHANNEL TECHNOLOGY), DISTRIBUTION CHANNEL (RETAIL PHARMACIES, HOSPITAL PHARMACIES, AND ONLINE PHARMACIES) AND APPLICATION BY GEOGRAPHY AND FORECAST (2018-2024)”.
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The global blood glucose test strips market is estimated to grow to USD 15.54 Billion by 2024 from USD 8.45 Billion in 2017, growing at a CAGR 5.0% from 2018 to 2024.A blood glucose test strip is a small-scale expendable plastic strip an essential component of blood glucose meters that controls and monitors diabetes. Blood glucose test strips are soaked with glucose oxidase, and that reacts with glucose present in the blood and then shows the glucose level in the blood.
Wicking technology holds the most significant share of the blood glucose test strips.
By technology, the blood glucose test strips are segmented as wicking technology, channel technology.Among these, wicking technology holds the most significant share in the blood glucose test strips market owing to have a small sample of blood while taking into test strips and gets accurate readings and less pain and faster results.
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Hospital pharmacies hold the most significant share of the blood glucose test strips market.
By distribution type, blood glucose test strips market is segmented as retail, hospital, online pharmacies. Among these, hospital pharmacies hold the most significant share of the blood glucose test strips owing to a high number of diabetics patients and maximum percentage concerning revenue.
Online stores follow hospital pharmacies due to having a prescription and non-prescription diabetes care devices is anticipated to drive the segment in the forecast period.
Type 1 is expected to have the massive demand during forecast period
By application type, blood glucose test strips market is segmented as type 1, type 2 and gestational diabetes. Among these, type 1 is anticipated to grow at the highest CAGR during the forecast period owing to enhancement in product launches of glucose monitors that are used for better management of type 1.
North America holds the most significant market share in the blood glucose test strips market
By geography, in North American regions, the U.S holds the most significant share in the blood glucose test strips market owing to the rise in the patient population and innovation in technology. The Asia Pacific and Europe regions are expected to grow by forecast period due to increase in the prevalence of diabetes, improving research on diabetes and continuous innovation in technologies.Some of the key vendors in the blood glucose test strips are Becton, Abbott Laboratories, Massachusetts Institute, Bayer Healthcare AG, Acon laboratories, Roche Diagnostics, Philips Healthcare, Fukuda Denshi.
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