FOR IMMEDIATE RELEASE
October 11, 2018
— The blood glucose test strip market includes establishments involved in manufacturing test strips used for blood sugar level measurement. Blood glucose test strips are thin paper or plastic strips which help to monitor blood glucose level and control diabetes symptoms. Test strips are generally used in medical devices called blood glucose meters to test blood glucose levels. TBRC’s report covers the diabetes market.
The global blood glucose test strips market by value grew at a compound annual growth rate (CAGR) of 3% in 2017. This growth was mainly due to the rising prevalence of diabetes among the general population, increasing healthcare spending in both developing and developed countries, economic growth, and rising per capita income which lead to greater use of diabetes care devices, and growing awareness about diabetes care in emerging countries such as China and India. Further its market is expected to inflate at a CAGR of 6% by 2021 after considering future trends.
The blood glucose test strip market in Brazil accounts for almost 4.5% of the global blood glucose test strip market. Of the featured countries, Brazil’s blood glucose test strip market’s share of the GDP is the highest in the world accounting for 0.024%, whereas the per capita blood glucose test strips expenditure in Brazil is the eighth highest in the world at $2.29.
This growth is due to increasing diabetes prevalence, increasing awareness for utilization of blood glucose test strips, and increasing expenditure on healthcare.
Blood Glucose Test Strips Market Segments
Glucose dehydrogenase had the highest CAGR of 4% during 2013-2017; this segment is estimated to grow at a CAGR of 6.44% during 2017-2021.
Glucose oxidase had the second highest CAGR of 2.5% during 2013-2017; this segment is estimated to grow at a CAGR of almost 3% during 2017-2021.
Companies included in the report are Roche, Johnson & Johnson, Ascensia, Abbot Laboratories and Trividia
Health. Impact of each company on each geography with future trends and expected mergers & acquisitions are also mentioned in the report.
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