New York, NY -- (SBWIRE) -- 01/22/2021 -- The blood glucose test strips market is projected to grow at a rate of 6.7% in terms of value, from 2019 to reach USD 6.92 Billion by 2027. Blood glucose strips are one of the key components to test the glucose level of the sample blood is placed onto the test strips. The sample blood is put onto the strip and then the other end of the test strip is placed inside the blood glucose test meter. Once the sample blood is put onto the surface of the test strips, it reacts with a chemical named glucose oxidase, provided with each strip, produces gluconic acid from the glucose in the blood.

North America held the highest market share of about 34.4% in 2018 in the blood glucose test strips market, followed by the European region, with 28.4% of market share. North American market is being propelled by increasing cases of type 2 diabetes. APAC, due to its record number of patients of diabetes coupled with a drastic increase in the number of persons to encounter pre-diabetes symptoms, is growing with the fastest CAGR of 9.3% throughout the forecast period. China, India, and Japan are some of the most valuable contributors from the Asia Pacific region.

Key Companies of the Blood Glucose Test Strips Market are:

Hoffmann-La Roche AG, Abbott Laboratories, Ascensia Diabetes Care Holdings AG, LifeScan, Inc., AgaMatrix, Inc., Trividia Health, Inc., B. Braun Melsungen AG, Sanofi, Ypsomed, and Nipro.

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The report offers a panoramic view of the competitive landscape of the Global Blood Glucose Test Strips Market. The report covers comprehensive data about current and recent trends, technological advancements, and methodologies. The research document offers detailed and concise data to assist in making strategic business decisions. The report offers a graphical representation of the important statistical data in the form of tables, graphs, charts, figures, and diagrams.

The market is further segmented on the basis of types, applications, end-users, technology, and others. Based on product types offered in the market, the Blood Glucose Test Strips market is segmented into:

Strips Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)

Use and Through
Built-in Indicator

Sales Channel Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)

Online Retailing
Pharmacies & Medical Store

Application Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)

Type 1 Diabetes
Type 2 Diabetes
Gestational Diabetes
Pre-Diabetes

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End-Users Outlook (Revenue, USD Billion; Volume, Thousand Units; 2016-2027)

Hospitals
Clinics & Diagnostic Centers
Individuals
Others

The report covers extensive analysis of the regions where the industry operates. According to the regional analysis, the market is segmented into key geographical areas such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The regions have been examined on the basis of the production and manufacturing capacities, consumption patterns, cost analysis, import/export, supply and demand ratio, current and emerging trends of each region, and the existence of key manufacturers in each region. Based on the regional analysis, the market is segmented into:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report also studies the strategic alliances of the market, such as mergers and acquisitions, joint ventures, collaborations, product launches, and brand promotions, government and corporate deals, partnerships and agreements, and others. The report also strives to offer insightful information about the competition to offer a competitive edge to the readers and businesses to help them gain a strong footing in the market.

Key questions addressed in the report are:

What is the estimated market size and share in the forecast period?
What are the key driving factors of the Global Blood Glucose Test Strips market?
What are the risks and challenges the companies will have to face in the forecast period?
What are the emerging trends, and how will they influence market growth?
What are the opportunities for expansion of the global Blood Glucose Test Strips market?
Which region is expected to dominate the market during the forecast period?

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