Published On : 25 May 2017
QYResearchReports.com has recently announced the addition of a report titled, “Global Blood Glucose Test Strips Market Research Report 2017” to its depository. The 110 paged report offers significant insights into the vital aspects of the market including the prominent catalysts, challenges, developments, and trends in the global market for blood glucose test strips. The report also covers the supply and demand dynamics, analysis of the technological advancements, and detailed profiles of the major market players.
An important component of blood glucose testing, blood glucose test strips are small strips of plastic that are disposable. After placing blood on these test strips, it starts reacting with glucose oxidase present in the strip, producing gluconic acid. The test strip is usually connected to electric terminals that allow the meter to reveal the level of gluconic acid present in the patient’s blood.
As the incidence of diabetes and related disorders has been escalating to an alarming extent recently, the global market for blood glucose test strips is slated for rapid advancement. Studies have found that diabetes is the second largest market in therapeutics in developed countries, following only oncology. The developing economies such as China, Brazil, and India are also registering a high prevalence of diabetes. Although the U.S. has been leading the market in terms of demand, emerging markets such as India and China possess greater potential for expansion, by virtue of an immense patient pool.
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A number of physiological factors such as obesity, along with fast paced lifestyles have been responsible for the increasing frequency of diabetes. Lack of exercise, sedentary lifestyles, unhealthy eating habits, and growing awareness about the need for blood glucose tests have been aiding the growth of the global market for blood glucose test strips. The increasing percentage of geriatric population on a global scale has also been a significant growth driver of the worldwide market for blood glucose test strips.
Technological advancements with respect to monitoring devices is another factor contributing towards the growth of the market. Self-monitoring blood glucose testing devices that feature superior accuracy, functionality, user-friendliness, durability, and portability are being made available by manufacturers. However, several surveys indicate that several diabetes patients do not perform blood glucose tests as frequently as recommended. The lack of awareness among the third world diabetes patients might also emerge as a key challenge.
The global market for blood glucose test strips has been segmented by region, end user, and product type. By product type, the global blood glucose test strips market has been segmented into glucose dehydrogenase and glucose oxidase. Based on end user, the global market for blood glucose test strips has been segmented into clinics and hospitals. Of these, the hospitals segment is expected to emerge as the leading segment over the forthcoming years.
BAYER AG, Roche Holdings AG, 77 Elektronika, TERUMO CORPORATION, Yuwell, LIFESCAN, Omron, Infopia Co., LTD, Yicheng, ARKRAY, AgaMatrix Inc, EDAN, ALL Medicus, I-SENS, Abbott Laboratories, SANNUO, and Nipro Diagnostics are some of the leading companies operating in the global blood glucose test strips market.
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