DUBLIN--(BUSINESS WIRE)--Aug 22, 2018--The "Blood Glucose Test Strips Global Market Report 2018" report has been added to ResearchAndMarkets.com's offering.

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 and 2021.

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.

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 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.

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Related Topics:Medical Devices,Glucose Testing,Diabetes Devices

KEYWORD:

INDUSTRY KEYWORD: HEALTH MEDICAL SUPPLIES

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 08/22/2018 04:14 PM/DISC: 08/22/2018 04:15 PM

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