Blood Glucose Test Strip Packaging Market Overview:
The report firstly introduced the Global Blood Glucose Test Strip Packaging Market including classification, application and industry chain overview; Then we deeply analyzed global growth forecast indicators by the as well as the regional market conditions that including the product price, profit, utilization, supply, demand and industry growth rate etc. In the end, the report introduced medical suction device market SWOT analysis, PEST analysis, market share analysis and competitive landscape, company profiles by analyzing the major players. It is a depth research study on the Global Blood Glucose Test Strip Packaging Market manufacturers. We are thankful for the support and assistance from Global Blood Glucose Test Strip Packaging Market. industry chain related technical experts and marketing experts during Research Team survey and interviews.
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Blood glucose test strips are intended to measure the blood sugar level which is based on the reaction of glucose in the blood with glucose oxidase present on the strips.
Rising cases of diabetes coupled with the rise in risk factors such as obesity, nutrition transitions to sugar and fat rich junk foods, sedentary lifestyles due to socioeconomic transition, rising healthcare expenditure, and rapid urbanization are the prime drivers of the market. According to the American Diabetes Association, America has approximately 30 million diabetics with 1 patient diagnosed with diabetes every 21 seconds.
Technical drivers of the market are advancements in dry chemistry, increasing adoption of flexible packaging solutions, development of ecommerce, development of multi-layered strips and others.
The evolution of the blood glucose test strip from a dye technology to electrochemical technology is expected to revolutionize the industry. Further application convergence has resulted in availability of blood glucose and blood combo test strips. Product development is the most neglected aspect of the Americas glucose test strip market, with market development is been over utilised and applied. The availability of test strips produced from silk is however an innovation difficult to oversee. The silk reduces dye migration, has superior antibacterial properties and simpler production methodologies resulting in a high quality product.
Rising awareness about the secondary effects of Diabetes such as kidney failure, blindness, heart attacks, lower limb amputation, and stroke are psychographic drivers of the market.
Poor result consistency due to migration of reagents, poor shelf life, poor branding and market position of major companies, large market fragmentation and the resultant pricing pressures are the prime constraints of the market. Market saturation and lack of product differentiation is a serious problem for many players resulting in monotonous product lines with different names.
The reimbursement cuts for diabetes testing supplies by Medicare up to 72 % is a serious threat to the market. According to the new reimbursement policies, diabetics receiving their glucose-testing supplies delivered to their homes will need to obtain them from 1 of 18 contract suppliers chosen by Medicare via a competitive bidding process. This new plan is expected to cut the government healthcare expenditure but can drastically reduce the number of vendors resulting in sharp reduction in competition and price hike by the vendors.
Some of the dominant players in the Americas blood glucose test strip market are HMD Biomedical, B.Braun Melsungen Ag, Ascensia Diabetes Care Holdings Ag, CSP Technologies, Inc. (U.S), Apex Biotechnology Corporation, Abbott Laboratories, Roche Diagnostics, Acon Laboratories, Inc, SANNER GMBH (Germany), Flow Dry Technology Inc. (U.S), and others.
The market for Blood Glucose Test Strip market is segmented on the basis of economics of trade and Technology
Based on economics of trade the market has been sub segmented by volume and value.
Based on technology the market is sub segmented by thick film electrochemical, thin film electrochemical, and optical.
Regional Analysis of Blood Glucose Test Strip Market:
North America accounts for the largest market and is dominated by the U.S. followed by Canada. Both the U.S. and Canada are high income economies with developed healthcare infrastructure. However the South American markets of Brazil, and Venezuela are expected to gain significantly owing to shift of diabetes to these regions.
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