Blood
Glucose Test Strip Global Market – Competitive Analysis
The Blood Glucose Test Strip Market is fiercely
competitive as well as fragmented due to the presence of numerous matured &
small key players in the market. These market players try to gain competitive
advantage through strategic partnership, acquisition, expansion, collaboration,
product & technology launch. Heavy investments are transpired in the
R&D to develop a completely different technology compared to their
competition.
Global
Blood Glucose Test Strip Market – Synopsis
Blood Glucose Test Strips or Diabetes Test Strips,
helping people to monitor their Glucose level and control their diabetes have
come a long way since the day of invention. From a dye based technology to
based on electrochemical technology, totally digitalized and from one test
strip to gluco plus blood ketone tests, combo test strips.
Growing prevalence of diabetes coupled with the important
role these strips play in keeping a tab on diabetes levels; drive the demand
for these strips in multiplication.
Obviously, the market of Blood Glucose Test Strips is
ever increasing, flooding with the various brands of blood glucose test strips,
floating in the space. Each brand having their own technology & design,
spend increasingly on R&D activities to perfect the product. This, in turn,
is paying off well & increasing the market size, elevating it on the global
platform.
Acknowledging the exponential growth the market perceives
currently and gauging the potential the market holds to grow in the future;
Market Research Future (MRFR), in its recently published market forecast
asserts that the global Blood Glucose Test Strip market will grow exponentially
by 2027, registering a striking CAGR throughout the forecast period (2017 –
2027).
In addition to the advancements in the medical science
& healthcare industry, other factors that predominantly contribute to the
market growth include growing population, urbanization and increasing
inclination of people towards the sedentary lifestyle. Improving economic conditions worldwide are
increasingly availing access to the excellent healthcare, fuelling healthcare
expenditures & eventually the Blood Glucose Test Strips Market growth.
Conversely, lack of awareness towards the advantages of
improved test strips is likely to restrain the market growth during the
forecast period. Unmet clinical needs coupled with the unavailability of
external funding; especially in the developing regions are posing challenges to
the market growth. Nevertheless, increasing demand for personal & hand-held
diagnostic devices & augmenting demand for the test strips that can give
fastest & accurate results is fostering the market growth.
Blood
Glucose Test Strip Market, Innovation & Related News
April 13, 2018 – Livongo Health (US) a start-up
developing connected devices and software for diabetics and other chronic
conditions. The company completely devoted to provide cost-competitive aid for
diabetes, has already developed its own glucometer & apps providing
accurate readings. Livongo, also ships test strips to patients at no additional
cost. The company announced that it has bagged the investment for USD 105
million to support the further development of its technology and a partnership from
Cambia Health Solution.
Worldwide
Blood Glucose Test Strip Market – Segments
The Blood Glucose Test Strip Market can be segmented in
to 2 key dynamics for the convenience of the report and enhanced understanding;
By Technologies: Comprises Thick Film Electrochemical,
Thin Film Electrochemical, & Optical among others
By Regions: North
America, Europe, APAC and Rest of the World.
Worldwide
Blood Glucose Test Strip Market – Regional Analysis:
North America market leads the global Blood Glucose Test
Strip market with the significant market share. The market is further expected
to reach astronomical amounts growing at a substantial CAGR throughout the
forecast period (2017-2027). Well-developed healthcare sector, increasing
prevalence of diabetes in the U.S. & Canada coupled with the high per
capita healthcare expenditures of these economies, together drive the regional
market growth. Moreover, presence of some of the matured market players fuels
the market growth.
While the world’s second largest market of Blood Glucose
Test Strip, Europe is predominantly driven by the availability of funds for research,
well-developed healthcare infrastructure, huge patient population, &
government support for research & development. Besides, economieshaving
high healthcare expenditures such as the UK & Germany propel the growth of
the Europe market.
TABLE
OF CONTENTS:
1 INTRODUCTION
1.1 DEFINITION 9
1.2 SCOPE OF THE STUDY 9
1.2.1 RESEARCH OBJECTIVE 9
1.2.2 ASSUMPTIONS 9
1.2.3 LIMITATIONS 10
1.3 MARKET STRUCTURE 10
2 RESEARCH
METHODOLOGY
2.1 RESEARCH PROCESS 11
2.2 PRIMARY RESEARCH 11
2.3 SECONDARY RESEARCH 11
2.4 MARKET SIZE ESTIMATION 12
2.5 FORECAST MODEL 12
3 FORECAST
INDICATORS
3.1 GROWTH DRIVERS 13
3.1.1 CONVENIENCE OF SELF BLOOD GLUCOSE MONITORING OVER
TRADITIONAL METHODS 13
3.1.2 TECHNOLOGICAL ADVANCEMENTS 14
3.1.3 RISING DIABETIC POPULATION 14
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