Pune, India -- (SBWIRE) -- 05/08/2019 -- Blood Glucose Test Strips Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of blood glucose test strips market by technology (channel technology, and wicking technology), sales channel (hospital pharmacies, retail pharmacies, and online pharmacies) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the blood glucose test strips market it includes the five years industry analysis and the 6 years annual forecast from 2018 to 2024. According to the report, the global blood glucose test strips market is projected to grow at a CAGR of 4.1% over the forecast period of 2018-2024.

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Blood Glucose Test Strips Market: Insights

Blood glucose test strips are one of the main tools involved in monitoring and controlling glucose level in the blood. Blood glucose test strips are small and disposable plastic strips. Blood glucose test strips may appear insignificant but play a very significant role in helping people who are living with diabetes in order to monitor appropriately and control the glucose level in the blood. In Type 1 and Type 2 diabetes that are the most common forms of diabetes and blood glucose test strips used to determine the level of glucose or sugar in the patient's bloodstream. Blood glucose test strips identify periods of high or low blood glucose levels. Blood glucose test strips lower risk of serious diabetic complications as well as improves long-term glycemic control.

Blood Glucose Test Strips Market: Drivers and Restraints

The growing prevalence of diabetes mellitus drives the growth of blood glucose test strips market. The occurrence of diabetes is increasing owing to the aging population, family history, obesity, physical inactivity, poor diet, and certain ethnicities. Moreover, increasing awareness regarding health issues boosts the growth of blood glucose test strips market. Type 2 diabetes accounts for about 90 to 95 percent of all diagnosed cases of diabetes in adults. Increasing incidence of people with type 1 and type 2 diabetes coupled with increasing demand for blood glucose test strips. However, factors such as temperature, humidity as well as storage methods of the strips may hamper the growth of blood glucose test strips market. Advancement in technology provides beneficial opportunities for blood glucose test strips market.

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Blood Glucose Test Strips Market: Regional Analysis

Geographically, North America dominates the blood glucose test strips market. Growing health concerns, as well as the availability of pharmaceutical hospital, boosts the growth of blood glucose test strips market in the region. According to the Food and Drug Administration (FDA) over 30 different blood glucose monitors cleared by the U.S. that are available to consumers. Ongoing research and development activities as well as government initiatives regarding diabetes fuel the growth of blood glucose test strips market in the region. Europe is the second largest region in the blood glucose test strips market. In the Asia Pacific region, China and India account for 109.68 million and 69.25 million diabetes patients respectively. The USA has more than 30.04 million diabetic patients. Rising occurrence of diabetic patients coupled with rising demand for blood glucose test strips market in the region.

Blood Glucose Test Strips Market: Segmentation

The report on global blood glucose test strips market covers segments such as technology, and sales channel. On the basis of technology, the sub-markets include channel technology and wicking technology. On the basis of the sales channel, the sub-markets include hospital pharmacies, retail pharmacies, and online pharmacies.

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Blood Glucose Test Strips Market: Competitive Landscape

The report provides profiles of the companies in the market such as PHC Holdings Corporation, F. Hoffmann-La Roche Ltd, Sandoz International GmbH, LifeScan, Inc., HMD BioMedical Inc., Beijing Yicheng Electronic Technology Co., Ltd., Universal Biosensors, BioSensors, Inc., TaiDoc Technology Corporation, i-SENS, and Bayer AG.

Report Findings

1. Drivers

- Continuous Increasing Incidence of Diabetes.

- Growing Demand for Better Screening and Monitoring Technologies for Blood Glucose in the Body.

2. Restraints

- Lack of Awareness Among Patient.

3. Opportunities

- The Government Initiative to Control Diabetes.