Global Diabetes Test Strips Industry

New Study On “Global Diabetes Test Strips Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2025” Added to Wise Guy Reports Database

Overview

Excessive consumption of unhealthy foods has brought us to a world where a majority of the population suffer from obesity, and the other rest suffer from diabetes. It is high time that individuals adopt healthy food habits while reducing excessive fats through exercises.

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The rising population of diabetics is an alarming sign and hence has led to innovation in the field that helps individuals track their sugar levels regularly. One such solution that has recently garnered the attention is the diabetes test strips. The product is known for its simple execution technique and works seamlessly for individuals all across the globe.

The global diabetes test strips industry hit a major milestone in the year 2018, and the industry is expected to grow further at a compound annual growth rate of xx percent for the next few years. By the year 2025, the industry is expected to have crossed a major milestone.

Latest News

A recent warning from the FDA warns about the health risks that may be associated with the diabetes test strips.

Factors affecting the growth prospects

There is a slew of factors that affect the growth prospects of the industry. Diabetes has become a common phenomenon, with every second person suffering from the same. Diabetes test strips being potable has attracted major users who can have an immediate checkup whenever and wherever they want to.

On the other hand, the easy availability of the product coupled with a robust supply chain has helped the industry flourish even in the most remote locations across the globe. The rising awareness about the product and the unavailability of time has further accelerated the growth prospects of the industry.

On the other hand, increase in doorstep services has further accelerated the growth prospects of the industry. Diabetes is a common disease, has attracted major investors from all across the globe, and with the innovation in new product and services, the industry is expected to grow further.

Market Segmentation

There are several factors that the diabetes test strips industry can be segmented into. The primary factors based on which the industry can be segmented into are the type and the application of the products.

Based on the type, the industry can be segmented into glucose oxidase, glucose dehydrogenase, and a few others. On the other hand, based upon the application, the industry can be segmented into hospital, home care, and clinic. Every segment has its unique characteristics and has its advantages and disadvantages.

Major Geographies

The diabetes test strips have become a huge hit in the first world countries with nations like the United States leading the race. The product celebrates a massive fanfare in Europe and is known for its easy to use functionality.

The Asia Pacific region also shows some major signs of growth. Presence of vast population suffering from diabetes represents a massive opportunity in major nations like India and China.

Key Industry players

The global diabetes test strips industry is marked by notable companies all across the globe. Some of the leading names in the space are Bayer Healthcare AG, I-SENS, SANNOU, Edan, 77 Elektronika, Omron, and several others. The industry is expanding rapidly and is about to face steep competition in the next few years.

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