Outlook on the Blood Glucose Test Strips Global Market to 2026 - COVID-19 Pandemic Increasing Demand for Test Strips & Lancets - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Blood Glucose Test Strips Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global blood glucose test strips market by revenue is expected to grow at a CAGR of over 6% during the period 2020-2026.

The global market is one of the major segments of the diagnostics market and is growing at a steady rate during the forecast period. The surge in market growth can be attributed to the increasing prevalence/incidence of diabetes worldwide. However, the outbreak of the COVID-19 pandemic has immensely contributed to the growth of the market. According to the CDC research, diabetic people infected with the COVID-19 virus have a higher mortality rate than non-diabetic patients. France, Spain, and several other countries across Europe have witnessed high mortality among people suffering from diabetes.

Meanwhile, test strips are witnessing higher growth as more people prefer self-monitoring of blood glucose at home. With the outbreak of the pandemic, the online sales of blood glucose monitoring devices and consumables such as test strips have increased. However, the impact of COVID-19 is not expected to have a long-term effect on the glucose monitoring test strips market. There is a surge in the uptake of technologically advanced test strips, which, in turn, expects to increase the adoption of these devices.

The following factors are likely to contribute to the growth of the blood glucose test strips market during the forecast period:

• COVID-19 Pandemic Increasing Demand for Test Strips & Lancets
• Increasing Demand for Generic Test Strips
• Increasing Prevalence of Diabetes
• New Product Launches

The study considers the global blood glucose test strips market's present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Key Questions Answered:

1. How big is the blood glucose test strips market?

2. What is the use of test strips?

3. What is the growth of the blood glucose dehydrogenase test strips market growth?

4. Which segments have been covered in the blood glucose test strips market report?

5. Which region has the largest share in the blood glucose test strips market?

6. Who are the top players in the blood glucose test strips market?

Market Dynamics

Opportunities & Trends

• High Demand for Test Strips Due To COVID-19 Pandemic
• Increasing Demand for Generic Test Strips
• Advances in Test Strip Technology

Growth Enablers

• Increase in Prevalence of Diabetes
• Recurring Revenue from Sales Of Test Strips
• Approvals/Launches of New Blood Glucose Test Strips

Restraints

• Increasing Use of Unauthorized & Counterfeit Test Strips
• Large Pool of Undiagnosed Diabetic Population Worldwide
• Low Penetration of Blood Glucose Test Strips In LMICs

Insights by Vendors

The global blood glucose test strips market is intensely competitive, subject to rapid technological changes, and significantly affected by new product introductions and other market activities of industry participants. F. Hoffmann-La Roche's Diabetes Care, LifeScan, Abbott's Diabetes Care Division, and Ascensia Diabetes Care are the major player. Currently, these companies collectively account for significant blood glucose test strips market share. These players account for a substantial stake in the market. However, they are facing stiff competition from local and regional players.

Prominent Vendors

• Abbott
• F. Hoffmann-La Roche
• Ascensia Diabetes Care Holding
• LifeScan

Other Prominent Vendors

• 77 Elektronika Kft
• ARKRAY
• AgaMatrix
• Alliance International
• B. Braun Melsungen
• Bionime
• Bioptik
• BioTest Medical
• BTNX
• EASYMAX
• MED TRUST
• Trividia Health
• MEDISANA
• Bioland Technology
• TaiDoc Technology
• Rossmax International
• e-LinkCare Meditech
• Diagnosis S.A
• Microlife
• HMD
• Ypsomed
• National Diagnostics Products
• Norditalia
• IME-DC
• Major BioSystem
• PharmaTech
• Sanofi
• Terumo
• Unistrip

For more information about this report visit https://www.researchandmarkets.com/r/tlzjpt