Market Overview

Global Blood Glucose Test Strips Market Report 2018: Top 4 Companies (Roche, Johnson & Johnson, Ascensia and Abbott) Account for 50% of the Total Market Share - ResearchAndMarkets.com

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Glucose Test Strips Global Market Report 2018"
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The global blood glucose test strips market was worth $10.6 billion in
2017. The market size is influenced by the prevalence of diabetes,
awareness of self-monitoring of blood glucose, and reimbursement for
test strips in some countries. This market grew from $9.4 billion in
2013 to $10.64 billion in 2017 at a compound annual growth rate (CAGR)
of 3.15% and is forecast to grow to $12.93 billion at a CAGR of 5% by
2021.

Major drivers of the blood glucose test strip industry in the historic
period included increased diabetes cases, increased disposable income,
and technological advances, while major restraints on the market
included lack of diabetes awareness, decreased reimbursement prices, and
development of alternative technologies for blood glucose monitoring.

Major drivers of the blood glucose test strip market in the forecast
period include increasing awareness, government initiatives, rapid
industrialization and urbanization and changing life styles. The
increasing trend in the prevalence of diabetes in both developed and
developing countries will help the diabetes care market to grow in turn
driving for the blood glucose test strips market. Major restraints on
the market include alternative testing methods, and the decreasing price
of the product faced with these substitutes.

North America was the largest market for blood glucose test strips in
2017, worth 47.1% of the market, at $5.01 billion. This was followed by
Western Europe, Asia Pacific, South America, the Middle East, Eastern
Europe, and finally Africa. The USA was the largest country in this
market followed by Germany and then Brazil. India was the fastest
growing market in the historic period and is expected to grow at a CAGR
of 8.49% between 2017 and 2021.

The top four companies in this industry, Roche, Johnson & Johnson,
Ascensia (Panasonic Health Care), and Abbott account for 50% of the
total. Due to decreasing prices for blood glucose test strips across the
world and increasing competition from local players, these companies'
market shares are declining.

Scope

  • Markets covered: 1) By Technology - glucose dehydrogenase and glucose
    oxidase 2) By Electrode Material Use - thick film electrochemical
    films, thin film electrochemical films and optical strips
  • Countries: USA, Germany, Brazil, China, Japan, UK, Spain, Russia,
    France, Australia, Italy, India
  • Regions: North America, Western Europe, South America, Asia-Pacific,
    South America, Middle East, Africa.
  • Time series: Five years historic and forecast.

For more information about this report visit https://www.researchandmarkets.com/research/qzgsj4/global_blood?w=4

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