2024). The market is segmented by component (blood glucose test strips), end user (hospital and personal use test strips), and geography. Key Market Trends - Increased Awareness Among Type 2 Diabetic Patients is Driving the Blood Glucose Test Strips Market.
New York, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Glucose Test Strips Market - Growth, Trends and Forecast (2012 - 2024)" - https://www.reportlinker.com/p05778232/?utm_source=GNW
Due to the ease in handling glucometers, patients are now preferring to use them for their personal use (home use).
Measuring blood glucose levels is essential to take or alter the medication accordingly, especially insulin users. Within seconds, glucometers provide the blood glucose levels with accuracy. There is constant upgradation in glucometers for better use and more efficiency.
Approximately 10% of diabetic population contributes to Type 1 diabetes and 90% contributes to Type 2 diabetes.
About 90% of Type 1 patients are using glucometer in their daily routines, and 25% of Type 2 patients are using the glucometers.
Due to the sedentary lifestyle, the blood glucose levels for Type 2 diabetes patients are not under control, and this is causing the patients to regularly monitor their blood glucose levels to avoid further complications of diabetes.
Thus, the aforementioned factor has increased the demand for the blood glucose test strips market.
North America to Dominate the Market
Globally, North America accounted for the largest share of 58.33% in 2017, owing to the availability of healthcare reimbursements and the fastest adoption rate for new medical technologies.
Europe is also a leading region in the global blood glucose test strips market. North America is the fastest-growing region for the market and portrays a massive potential for growth in the future, due to the increasing government initiatives to combat diabetes and corporate investments to streamline R&D in diabetes.
The global blood glucose test strips market is highly fragmented, with few major manufacturers having presence in major regions of the global market, while the remaining manufacturers confine to the other local or region-specific manufacturers.
The innovations in test strips are increasing and are under development. For example, the new test strip includes features, such as underfill detection, and provides the user with the ability to reapply blood when the test strip is underfilled (“second chance” sampling).
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