Test Strip Market Size, Share, Growth Analysis, By Product(Blood Test Strips, Urine Test Strips), By Application(Diabetes, Pregnancy, Urinary Tract Infection, Others), By End-use(Hospitals, Home Care, Diagnostic Laboratories), By Region - Industry Forecast 2024-2031

Test Strip Market size was valued at USD 5.1 billion in 2019 and is poised to grow from USD 5.58 billion in 2023 to USD 12.64 billion by 2031, growing at a CAGR of 9.5% in the forecast period (2024-2031).

The COVID-19 pandemic has had a substantial influence on the market. Due to the risk of infection transmission, the demand for test strips was exceptionally low during the early stages of the pandemic. However, research and advancement into the diagnosis of COVID-19 infection have skyrocketed. Furthermore, due to the growing prevalence of diabetes (blood glucose test strips) and urinary tract infections (UTIs) worldwide, the global test strip market is likely to develop considerably throughout the forecast period. Diabetes, for example, is anticipated to be the seventh-leading cause of mortality by 2031, according to World Health Organization (WHO) figures updated in November 2021, and the disease's prevalence has been growing more rapidly in low- and middle-income nations.

The rising incidence of diabetes among the world's population is one of the primary factors driving the growth of the blood glucose test strip market size. Increased acceptance of the strips as they allow patients to complete their tests at home without visiting a diagnostic laboratory, as well as increased use of these strips as a diabetic patient is anticipated to test his sugar at least 2-3 times per day, drive the blood glucose test strip market growth.

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