Global Blood Glucose Test Strips Market 2019-2023

About this market
Product bundling to emerge as one of the major trends in the market. The rising popularity of rapid test for checking diabetes is encouraging vendors to continuously innovate and expand product lines to remain competitive. The availability of blood glucose test strips in combo offers can increase the demand growth during the forecast period. ’ s analysts have predicted that the blood glucose test strips market will register a CAGR of over 6% by 2023.
Market Overview
Increase in number of diabetes cases and rising awareness about diabetes
Diabetes can be often controlled through physical activity, diet, and medications. In most of the cases, prediabetes sets in before the onset of diabetes. This is considered as a serious health condition, wherein the blood sugar levels are higher than normal. The rising incidence of diabetes has increased the demand for diabetes testing products such as blood glucose test strips in the market, which can help patients control and manage diabetes.
Lack of efficacy
The blood glucose test strips are not 100% accurate. There are various factors that can lead to inaccuracy of blood glucose test strips such as application errors, extreme environmental conditions, extreme hematocrit values, or medication interferences.
For the detailed list of factors that will drive and challenge the growth of the blood glucose test strips market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Abbott and Ascensia Diabetes Care the competitive environment is quite intense. Factors such as the increase in number of diabetes cases and rising awareness about diabetes and the product bundling, will provide considerable growth opportunities to blood glucose test strips manufactures. Abbott, Ascensia Diabetes Care, B. Braun Melsungen, F. Hoffmann-La Roche, and Sanofi are some of the major companies covered in this report.