Global Blood Glucose Test Strips  Market

Blood Glucose Test Strips Market Size, Share, Growth Analysis, By Application (Type 1, Type 2), By End Use (Individuals, Hospitals And Clinics), By Technology (Glucose Dehydrogenase (GDH), Glucose Oxidase), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35A2630 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

Blood Glucose Test Strips Market Insights

Blood Glucose Test Strips Market size was valued at USD 2.15 Billion in 2023 and is poised to grow from USD 2.35 Billion in 2024 to USD 4.84 Billion by 2032, growing at a CAGR of 9.4% during the forecast period (2025-2032).

The global blood glucose test strips market is a vital segment of the healthcare industry that plays a crucial role in the management of diabetes. The market for blood glucose test strips has been witnessing steady growth over the years, driven primarily by the rising prevalence of diabetes worldwide. According to the International Diabetes Federation, the number of adults living with diabetes is projected to reach 700 million by 2045. This alarming increase in the diabetic population fuels the demand for blood glucose test strips, as regular monitoring of blood glucose levels is vital for effective diabetes management.

In recent years, there has been a shift toward the development of advanced blood glucose monitoring systems, including continuous glucose monitoring (CGM) devices. CGM systems offer real-time glucose monitoring, reducing the need for frequent fingerstick testing with test strips. While CGM devices are gaining traction, traditional blood glucose test strips remain the primary method for self-monitoring blood glucose levels due to their cost-effectiveness and simplicity.

US Blood Glucose Test Strips Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Blood Glucose Test Strips Market size was valued at USD 15.6 billion in 2022 and is poised to grow from USD 16.86 billion in 2023 to USD 31.45 billion by 2031, growing at a CAGR of 8.1% during the forecast period (2024-2031). 

The global blood glucose test strips market is highly competitive and characterised by the presence of several key players. These companies engage in intense competition to gain a larger market share by offering innovative products, improving quality, and expanding their distribution networks. The market is driven by the increasing prevalence of diabetes worldwide and the growing demand for effective glucose monitoring solutions. 'Abbott Laboratories (USA) ', 'Roche Diagnostics (Switzerland) ', 'Siemens Healthineers (Germany) ', 'Thermo Fisher Scientific (USA) ', 'Danaher Corporation (USA) ', 'Eurofins Scientific (Luxembourg) ', 'Qiagen N.V. (Netherlands) ', 'Fujifilm Holdings Corporation (Japan) ', 'DiaSorin S.p.A. (Italy) ', 'Bio-Rad Laboratories, Inc. (USA) ', 'Sekisui Medical Corporation (Japan) ', 'Ortho Clinical Diagnostics (USA) ', 'Beckman Coulter, Inc. (USA) ', 'Myriad Genetics, Inc. (USA) ', 'Alere Inc. (USA) ', 'Quest Diagnostics Incorporated (USA) ', 'LabCorp (USA) ', 'BioMérieux SA (France) ', 'ARUP Laboratories (USA) ', 'MSD (Merck & Co., Inc.) (USA)'

The growing awareness regarding the significance of diabetes management, coupled with an increase in healthcare expenditure, has significantly contributed to the expansion of the blood glucose test strips market. Governments and healthcare organisations worldwide are placing greater emphasis on the early detection and effective management of diabetes, leading to higher adoption rates of glucose monitoring devices.

Increasing Demand for Efficient and Convenient Glucose Monitoring: A key market trend in the global blood glucose test strips market is the growing adoption of continuous glucose monitoring (CGM) systems. CGM systems provide real-time monitoring of blood glucose levels through the use of sensors that are inserted under the skin. This technology eliminates the need for frequent fingerstick tests using traditional blood glucose test strips. CGM systems offer several advantages, including improved accuracy, convenience, and the ability to track glucose levels continuously throughout the day and night.

North America holds a significant share in the blood glucose test strips market due to several factors. The region has a well-established healthcare infrastructure, advanced healthcare facilities, and a high prevalence of diabetes. Additionally, a large patient population, favourable reimbursement policies, and the presence of key market players contribute to the dominance of North America in the market. The US, in particular, has a high adoption rate of blood glucose monitoring devices and a strong focus on diabetes management, further solidifying the region's position as the dominant market.

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Global Blood Glucose Test Strips  Market

Report ID: SQMIG35A2630

$5,300
BUY NOW GET FREE SAMPLE