Blood Glucose Test Strips Market Size, Share, Industry Trends and Forecast to 2030

Blood Glucose Test Strips Market Analysis

1. Market Size & CAGR of Blood Glucose Test Strips market in 2021:

The global blood glucose test strips market is estimated to have a growth rate of 4.2% CAGR from 2021 to 2028. As a result, the market is expected to reach a value of USD 8.5 billion by 2028.

2. COVID-19 Impact on the Blood Glucose Test Strips Market:

The COVID-19 pandemic has significantly impacted the blood glucose test strips market. With the rise in diabetes cases during the pandemic, the demand for blood glucose test strips has surged, leading to a boost in market growth.

3. Blood Glucose Test Strips Dynamics:

The dynamics of the blood glucose test strips market are influenced by factors such as increasing diabetes prevalence, technological advancements in glucose monitoring devices, and the rising awareness about the importance of regular blood glucose monitoring.

4. Segments and Related Analysis:

The blood glucose test strips market is segmented based on technology, distribution channel, and end user. The continuous glucose monitoring (CGM) segment is witnessing significant growth due to its convenience and accuracy in glucose monitoring.

5. By Region Analysis:

Regionally, North America holds the largest market share in the blood glucose test strips market, attributed to the high prevalence of diabetes and the presence of key market players. The Asia Pacific region is expected to show rapid growth in the coming years.

6. Key Market Players and Competitive Landscape:

Key players in the blood glucose test strips market include Abbott Laboratories, Roche Diagnostics, B. Braun Melsungen AG, Ascensia Diabetes Care, and Dexcom, among others. The market is highly competitive with a focus on product innovation and strategic partnerships.

7. Recent Happenings in the Blood Glucose Test Strips Market:

In recent developments, Abbott launched a new blood glucose monitoring system with enhanced accuracy and connectivity features. Roche Diagnostics introduced a compact and user-friendly blood glucose monitoring device to cater to the growing demand for easy-to-use glucose monitoring solutions.