Blood Glucose Test Strips Industry 2020

 Growth in the historic period resulted from rise in diabetes prevalence, increase in disposable income and technological advances. Factors that negatively affected growth in the historic period were lack of awareness, rising investments in alternative blood monitoring methods and decrease in reimbursement for test strips. Going forward, favorable government initiatives and changing lifestyles will drive growth. Factors that could hinder the growth of the blood glucose test strips market in the future include decreasing price of blood glucose test strips and high costs associated with other consumables for blood glucose testing.

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The blood glucose test strips market is segmented by technology into glucose dehydrogenase and glucose oxidase. The glucose dehydrogenase market was the largest segment of the blood glucose test strips market, accounting for $7.9 billion or 67.7% of the total in 2019 and this market is expected to be the fastest-growing segment going forward at a CAGR of 6.1%.

The blood glucose test strips market is segmented by electrode material used into thick film electrochemical strips, thin film electrochemical strips and optical strips. The thick film electrochemical strips market was the largest segment of the blood glucose test strips market, accounting for $5.3 billion or 45.0% of the total in 2019.

The blood glucose test strips market is segmented by end use into homecare, diagnostic centre, and hospitals. The home care market was the largest segment of the blood glucose test strips market segmented by end use, accounting for $7.04 billion or 60.0% of the total in 2019.