Wearable Technology Is Fastest Growing Segment Fueling The Growth Of Blood Glucose Test Strip Market

 


The global blood glucose test strip market is estimated to be valued at US$ 10.7 Bn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Blood glucose test strips are used for testing blood glucose levels. They are used along with blood glucose meters to deliver quick glucose readings from tiny blood samples. The growing prevalence of diabetes and technological advancements in blood glucose monitoring devices are fueling the growth of this market.

Market key trends:
Growing adoption of wearable blood glucose monitoring devices: Wearable blood glucose monitoring devices are compact devices that can be worn on the body and continuously monitor glucose levels. The introduction of user-friendly and non-invasive continuous glucose monitoring solutions with added features like data sharing has increased their adoption. This is contributing significantly to the growth of the blood glucose test strip market.


Segment Analysis
The global blood glucose test strip market is segmented based on technology, distribution channel and end user. Based on technology, the self-monitoring blood glucose test strip segment dominates the market and accounts for the largest share. Self-monitoring blood glucose test strips are easy to use and facilitate accurate measurement of blood glucose levels, which has increased their adoption among patients with diabetes.

Key Takeaways
The Global Blood Glucose Test Strip Market Size is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of diabetes worldwide.

Regional analysis
North America dominates the global blood glucose test strip market and is expected to continue its dominance over the forecast period. This is attributed to the rising incidence of diabetes and advanced healthcare infrastructure in the region. Asia Pacific exhibits the fastest growth over the forecast period owing to increasing healthcare awareness and improving healthcare expenditure in emerging countries such as China and India.

Key players
Key players operating in the blood glucose test strip market are Abbott, F. Hoffmann-La Roche Ltd, Johnson & Johnson, ARKRAY, Inc., Ascensia Diabetes Care Holdings AG, AgaMatrix, Bionime Corporation, ACON Laboratories, Inc., MEDISANA GMBH, Tividia Health, Inc. and Rossmax International Ltd. Abbott and F. Hoffmann-La Roche Ltd capture majority of market share owing to their robust product portfolio and global presence.

Read More: https://www.ukwebwire.com/blood-glucose-test-strip-market-size-share-and-growth-forecast-2023-2030/

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