The blood glucose test strips are plastics or thin papers which are majorly used to determine the blood glucose levels for controlling the diabetes. The sectors in the blood glucose test strips industry are dependent on the type of the reactive enzyme used in the glucose dehydrogenase and strips-glucose oxidase, by the category of the electrode used-thick film, optical and thin film. Whereas, thick film electrodes are used on a large scale followed by thin film and optical based test strips. Moreover, glucose dehydrogenase-based test strips are the utmost accurate and of the strips and registered for two-thirds of all supply. In the market, the major trend of shaping the blood glucose test strips involve the effective development of generic blood glucose test strips, new FDA strategies on the definite of blood glucose recognition, innovative blood glucose test ways and reasonable alternative silk strips. Moreover, the development in the healthcare industry and increase in the awareness are the major growth drivers of this market across the globe in the recent trend.
According to the report analysis, ‘Blood Glucose Test Strips Global Market Opportunities And Strategies To 2021 Including: Thick Film Electrochemical Films, Thin Film Electrochemical Films and Optical Strips Covering: LifeScan, Roche Holding AG, Abbott Laboratories, Ascensia, Trividia Health(Nipro Diagnostics)’ some of the major companies which are currently functioning in this domain with the effective technology for accomplishing the demand of the potential buyers and attaining the effective shares includes Medtronic plc, LifeScan, Inc., Abbott Diabetes Care, Eli Lilly and Co., Johnson & Johnson, Ascensia Diabetes Care Holdings AG, Tandem Diabetes Care, Acon Laboratories Inc., Arkray Inc., Terumo Corporation, Osang Healthcare Co., Ltd., Bhat Bio – Tech India Pvt. Ltd., NIPRO Medical Corporation, Bionime Corp., Wuhan Fine Biotech, F. Hoffmann-La Roche, Roche Diabetes Care, GlaxoSmithKline plc, Bayer HealthCare AG, Novo Nordisk, B. Braun Melsungen, Medisana AG, Sanofi, Norditalia, Emperra, Vedalab, Wellion, 77 Elektronika Kft., Norma, Iquego, Roche Diagnostic, Life Scan Inc., Bayer HealthCare, Dario Health, Kuteks, Bayer Healthcare AG, LifeScan, F. Hoffmann-La Roche, Arkay Inc. and several others.
Major drivers of this market in the historic period include increased disposable income, increased diabetes cases and effective technological advances, meanwhile the major restraints on the market involved lack in awareness, development of alternative technologies for blood glucose monitoring and decreased reimbursement prices. Moreover, geographically, with the extensive usage of blood glucose test strips, the market is spread across the globe which includes North America, Asia Pacific region, Western Europe, Easter Europe, South America, Middle East, Africa and rest of the world. Whereas, the market of glucose test strips across the globe was worth USD 10.6 billion in 2017 while the size of the market influenced by the prevalence of diabetes and increased awareness of self-monitoring of blood glucose. In 2017, the North America region was the highest market for this and worth 47.1% of the market at the effective USD of 5.0 billion. However, decreasing prices for blood glucose test strips around the world and significant increase in the competition from local players the market will grow more actively across the globe over the decades.
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Ankur Gupta, Head Marketing & Communications