Blood Glucose Test Strips Global Market Opportunities And Strategies To 2021
NEW YORK, August 14, 2018 /PRNewswire/ -- Blood Glucose Test Strips Global Market Opportunities And Strategies By Technology: Glucose Dehydrogenase, Glucose Oxidase; By Electrode Material Use: Thick Film Electrochemical Films, Thin Film Electrochemical Films, Optical Strips; With Forecast Until 2021
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The blood glucose test strips industry includes establishments involved in manufacturing test strips used for blood sugar level measurement.Blood glucose test strips are thin paper or plastic strips which help to monitor blood glucose level and control diabetes symptoms.
Test strips are generally used in medical devices called blood glucose meters to test blood glucose levels.
Executive Summary
Blood glucose test strips are thin paper or plastic strips that are used to monitor blood glucose levels to help control diabetes. The segments in the blood glucose test strips market are based on the type of the reactive enzyme used in the strips—glucose oxidase and glucose dehydrogenase, and by the type of the electrode used— thick film, thin film, and optical. Glucose dehydrogenase-based test strips are the most accurate and specific of the strips and account for two-thirds of all sales. Thick film electrodes are used most followed by thin film and optical based test strips. Major trends shaping the blood glucose test strips market include new FDA guidelines on the accuracy of blood glucose detection, the development of generic blood glucose test strips, low cost alternative silk strips, and innovative blood glucose test methods.
The global blood glucose test strips market was worth $10.6 billion in 2017. The market size is influenced by the prevalence of diabetes, awareness of self-monitoring of blood glucose, and reimbursement for test strips in some countries. This market grew from $9.4 billion in 2013 to $10.64 billion in 2017 at a compound annual growth rate (CAGR) of 3.15% and is forecast to grow to $12.93 billion at a CAGR of 5% by 2021.
Major drivers of the blood glucose test strip industry in the historic period included increased diabetes cases, increased disposable income, and technological advances, while major restraints on the market included lack of diabetes awareness, decreased reimbursement prices, and development of alternative technologies for blood glucose monitoring.
Major drivers of the blood glucose test strip market in the forecast period include increasing awareness, government initiatives, rapid industrialization and urbanization and changing life styles. The increasing trend in the prevalence of diabetes in both developed and developing countries will help the diabetes care market to grow in turn driving for the blood glucose test strips market. Major restraints on the market include alternative testing methods, and the decreasing price of the product faced with these substitutes.
North America was the largest market for blood glucose test strips in 2017, worth 47.1% of the market, at $5.01 billion. This was followed by Western Europe, Asia Pacific, South America, the Middle East, Eastern Europe, and finally Africa. The USA was the largest country in this market followed by Germany and then Brazil. India was the fastest growing market in the historic period and is expected to grow at a CAGR of 8.49% between 2017 and2021.
The top four companies in this industry, Roche, Johnson & Johnson, Ascensia (Panasonic Health Care), and Abbott account for 50% of the total. Due to decreasing prices for blood glucose test strips across the world and increasing competition from local players, these companies' market shares are declining.
Description
Where is the largest and fastest growing market for blood glucose test strips? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The blood glucose test strips global market report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, pestle analysis, segmentation, regional and country breakdowns, competitive landscape, market shares, customer information, key mergers and acquisitions, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints cover the external factors supporting and controlling the growth of the market.
• PESTEL Analysis covers the political, economic, social, technological, environmental and legal factors affecting the blood glucose strips market.
• Market segmentation by service breaks down the market into sub markets. By technology, the market is segmented into glucose dehydrogenase and glucose oxidase. The historic and forecast growth rates for this segment is covered in this report. At a global level, market segmentation is also done for the base year by electrode material use, which includes thick film electrochemical films, thin film electrochemical films and optical strips.
• The regional and country breakdown section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets.
• The competitive landscape section gives a description of the competitive nature of the market, market shares, and a description of the leading companies in terms of their offerings, growth strategy and financial performance.
• The customer information section covers major surveys conducted on the blood glucose test strips market and their implications.
• The report also covers key mergers and acquisitions in the blood glucose test strips market. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
Scope
Markets covered: 1) By Technology - glucose dehydrogenase and glucose oxidase 2) By Electrode Material Use - thick film electrochemical films, thin film electrochemical films and optical strips
Companies mentioned: LifeScan, Roche Holding AG, Abbott Laboratories, Ascensia, Trividia Health(Nipro Diagnostics).
Countries: USA, Germany, Brazil, China, Japan, UK, Spain, Russia, France, Australia, Italy, India
Regions: North America, Western Europe, South America, Asia-Pacific, South America, Middle East, Africa.
Time series: Five years historic and forecast.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Why this report?
Timely And Critical:
- New FDA guidelines on blood glucose test strips and meters to ensure standard levels of performance of strips in the market
- Increasing development of generic blood glucose strips
- Development of silk blood glucose strips to lower the production cost
- Evolvement of technological developments for the patient's convenience
- Ease of use of blood glucose strips determining the brand selection in the market
- Reduction in the reimbursement of test strips
Reasons to Purchase
• Outperform competitors using accurate up to date demand-side dynamics information.
• Identify growth segments for investment.
• Facilitate decision making on the basis of historic and forecast data and the drivers and restraints on the market.
• Create regional and country strategies on the basis of local data and analysis.
• Stay abreast of the latest customer and market research findings
• Benchmark performance against key competitors.
• Develop strategies based on likely future developments.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Gain a global perspective on the development of the market.
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