North America Accounted for the Largest Share of Blood Glucose Test Strips Market
Blood Glucose Test Strips Market
, 11 July 2018
-- Blood Glucose Test Strips Market growth is propelled by the rising prevalence of diabetes among the general population
Blood glucose testing or blood glucose monitoring is used to measure the quantity of sugar or glucose in the patient’s bloodstream. Glucose testing is conducted to check for gestational diabetes, type 1 and type 2 diabetes. Blood glucose test strips or diabetes test strips are important tools used in blood glucose testing. These small strips play a crucial role in assisting people with diabetes to view and keep their blood sugar levels under control. A blood glucose test strip is made up of numerous layers that help in providing accurate test results. The top layer of the strip serves like a mini sponge which is used to soak the blood sample. The middle layers act as a filter and help in channelizing the sample of blood to the reaction center. The next layer consist of three parts, an enzyme which reacts with the blood glucose present in the sample, a mediator chemical that helps in driving the electrons alongside the strip’s circuit so as to provide an accurate reading and a mixture of chemicals that work to preserve and stabilize the mediator chemicals and enzyme. At the bottom of the strip is the palladium and gold covered circuit that transfers the electrons to the meter for final analysis.
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The major factor driving the growth of the blood glucose test strips market is the rising prevalence of diabetes among the general population. According to World Health Organization (WHO), the number of people affected with diabetes have risen to 422 million in 2014 from 108 million observed in 1980. A total of 1.6 million estimated deaths were caused due to diabetes in 2015. Diabetes is known to cause kidney failure, blindness, heart attacks, lower limb amputation, and stroke. The prevalence of the disease is rising rapidly in low and middle income countries. According to International Diabetes Federation, Western Pacific region and South East Asia are expected to have the largest population of people with diabetes by 2040. Western Pacific region will have 214.8 million people with diabetes up from 153.2 million in 2015, while South East Asia will have 140.2 million people with diabetes a rise from 78.3 million as observed in 2015. The growth in the diabetes population is expected to drive the demand for better screening and monitoring methods.
This in turn is expected to fuel the growth of the market for blood glucose test strips. The concentrated efforts by health care professionals, pharmaceutical companies and governments to educate people about the importance of diabetes test strips is also anticipated to have a positive impact on the growth of the market during the forecast period. Advances in testing technology for blood glucose testing is also making it convenient and easier to perform tests among patients who are hesitant to perform tests due to infection, and excessive bleeding. On the contrary, it is observed that it is quite difficult to educate the diabetes patients about the importance and criticality of frequent testing of blood glucose levels, so as to better manage their diabetes levels. This factor can have a negative impact and can hinder the growth of the blood glucose test strips market during the forecast period.
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The global blood glucose test strips market is segmented based on technology, by distribution channel and by geography. In terms of technology, blood glucose test strips market is categorized into wicking technology and channel technology. In terms of distribution channel, the market is classified into retail pharmacies, hospital pharmacies, and online pharmacies.
Geographically the global blood glucose test strips market is segmented into North America, Europe, Asia Pacific, Latin America & Middle East and Africa. North America accounted for the largest share of the market due to the growing awareness levels among the population about the necessity of frequent blood glucose testing. Asia Pacific is expected to witness the fastest growth rate due to increase in the population of diabetes patients in the region. According to International Diabetes Federation, 5 out of the top 10 countries with the highest percentage of people with diabetes were found in Asia. Also the improving economic scenario in countries like China, India and other countries in the region is expected to create new avenues of growth for the market for blood glucose test strips.
The major players reported in the market include Abbott Laboratories, Bayer Healthcare AG, B.Braun Melsungen Ag, HMD Biomedical, LifeScan, Inc., and F.Hoffmann-La Roche Ltd.
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Submitted by hawer on Wednesday, 11 July 2018 at 10:27 PM
Category: Health Care & Medical
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