Market Research Future has declared the expansion of the "Worldwide Blood Glucose Test Strip Market Research Report which gives Market Size, Shares and Forecasts till 2020.
Blood Glucose Test Strips or diabetes test strips are used to monitor the glucose level in diabetic patients to manage and control the conditions.
Although the diabetes segment, heading with several, breakthrough technological advancements is centering on artificial pancreas systems, currently people still rely on blood glucose test strips as more accurate and cost-competitive means of controlling the conditions. Resultantly, the market for blood glucose test strips is accelerating on the global heights.
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Observing the market structure, this report offers acumen about factors affecting the market growth. Calculating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include mergers and acquisitions, joint ventures, new product developments, research and developments (R&D), and strategic alliances.
Leading Industry Key Players
Abbott Laboratories (USA)
Acon Laboratories Inc (USA)
Allmedicus (South Korea)
Apex Biotechnology Corporation (Taiwan)
Ascensia Diabetes Care Holdings Ag (Switzerland)
B.Braun Melsungen Ag (Germany)
HMD Biomedical (Taiwan)
I-Sens Inc. (South Korea)
Lifescan Inc. (USA)
Roche Diagnostics (Switzerland)
Taidoc Technology Corporation (Taiwan)
The major factors contributing to the growth of the Global Blood Glucose Test Strip Market are increasing geriatric population, the rising prevalence of diabetes, and rapid urbanization. Other important reasons aiding the market growth are changing lifestyle, increasing spending on healthcare, and increasing awareness about the health hazards caused by lack of glucose.
Global Blood Glucose Test Strip Market - Segmentation
The global blood glucose test strip market has been segmented on the basis of technology and region. The technology-based segmentation segments the market into optical technology, thick film electrochemical, and thin film electrochemical.
Optical coherence tomography (OCT) is an imaging technique used for medical imaging and sometimes for glucose monitoring. A thick film electrochemical immunosensor is based on potentiometric stripping analysis (PSA) of a metal tracer and using an entirely on-chip assay format.
Thin film electrochemical sensors are innovative thin-film metal-based electrodes. They are used for electrochemical analysis in clinical, environmental and agrifood areas.
Detailed Regional Analysis
The regional segmentation of the global blood glucose test strip market has segmented the global market into regional markets namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
North America is largest regional market. In this region, the market is expanding due to the heavy research and development (R&D) with regards to the medical sector, the presence of major manufacturers, and technological advancement. The apical country-specific markets in this region are USA and Canada.
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Many key market players are also based in this region, especially in the USA. The US Food & Drug Administration (FDA) has issued two revised draft guidance for blood glucose monitors in home and health care settings. These guidelines have been issued after a request from stakeholders for more clarification on design considerations and recommended standards for meters.
Europe is the second largest regional market. Its growth is expected during the forecast period. The factors supporting the growth of this market include a high level of technological advancement that is second only to North America, a high density of population, established healthcare sector, and presence of various key market players.
The crucial country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
The Asia Pacific is another significant market as healthcare sector is developing in countries like China and India. Advanced medical facilities and rapid technological advancement are available in Japan.
In Latin America, the market is smaller than North America as this region has less advanced medical facilities. The two strongest economies that can become suitable markets are Argentina and Brazil.
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