Technavio analysts forecast the global blood glucose test strips market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global blood glucose test strips market from 2019-2023. (Graphic: Business Wire)
Product bundling is one of the major trends being witnessed in the global blood glucose test strips market 2019-2023. Vendors in the market are continuously innovating and expanding product lines to remain competitive owing to the rising popularity of rapid test for checking diabetes. The availability of blood glucose test strips in combo offers will further boost growth during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global blood glucose test strips market is the increase in number of diabetes cases and rising awareness about diabetes:
Global blood glucose test strips market: Increase in number of diabetes cases and rising awareness about diabetes
Physical activity, diet, and medications can help in controlling diabetes. 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.
According to a senior analyst at Technavio for research on health care supplies, “The rising incidence of diabetes has augmented the demand for diabetes testing products such as blood glucose test strips in the market, which can help patients control and manage diabetes. This rise in the number of diabetic cases has prompted many organizations to create awareness programs regarding the management and control of diabetes.”
Global blood glucose test strips market: Segmentation analysis
The global blood glucose test strips market research report provides market segmentation by end-user (hospitals and diagnostic laboratories, home care settings, and POL) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The hospitals and diagnostic laboratories segment held the largest market share in 2018, accounting for 50% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of 43%. This region is expected to dominate the market through 2023, however there will be a decrease in its market share by over 1%.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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