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(Medical-NewsWire.com, November 14, 2017 ) The global as well as regional market share of various players based on volume of test strip sold is also analysed in the report. Lastly, the report provides company profiles of major players in the market.
Test strip are the most important tools in Point of Care (POC) diagnostics. They help to achieve precise and rapid diagnosis of various critical diseases such as urinary tract infection (UTI), liver disease, kidney diseases, diabetes test, ophthalmic disease and others. The Test Strip market is expected to grow at higher growth rate due to Government's Support in various healthcare sectors, High prevalence of incidences of UTIs, Rising Diabetic Population, and various Technological advancements are the major growth drivers of test strip market. However, stringent regulatory policies, Lower adoption of this technology in under developed countries such as Latin American and African Countries, and inadequate reimbursement for test strips may restrict the growth of this market.
The test strips are based on various technologies such as electrochemical and photometric. Majority of the test strips are based on electrochemical technology. The photometric technology market is expected to witness the highest growth. Roche Diagnostics, Life scan, Inc., Abbott Laboratories, and Bayer are the leading players in the test strip market, by volume. These players possess state of art manufacturing facilities and strong sales and distribution network which have helped them to gain leadership position in the market.
The other prominent players include Arkray Inc., Ascensia Diabetes Care Holdings Ag, B. Braun Melsungen AG, Chiltern Medicare Ltd, Henry Schein, Lifeassay Diagnostics (Pty), Siemens Healthcare, Taidoc Technology Corporation, and Teco Diagnostics.
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Based on the product type the test strip market by type is divided into urine test strip, diabetic strips, and fluorescein. Diabetic strips segment is expected to grow at high growth rate due to rising government bodies concerns for diabetes across the globe. There is an incessant rise in the number of diabetic people worldwide. According to International Diabetic Federation, there were 415 million people living with diabetes in 2015, and this number is poised to reach 642million by 2040.
For proper maintenance of the disease, there is a requirement of monitoring the blood glucose level t regular interval. Theses arises need for self-glucose monitoring. Blood glucose test strip is an essential part of self-blood glucose monitoring. The market for blood glucose test strip was estimated at $13.7 billion in 2015 and is expected to reach $18.5 billion by 2020. The growth of the market is driven by launch of advanced test strips based on innovative technology which provide more accurate and reliable results.
Furthermore, based on the applications the test strip market is segmented into disease diagnosis and pregnancy tests. The disease diagnosis segment is further segmented into urinalysis, blood glucose analysis, and ophthalmic diagnostic. The urinalysis segment is consisting of urinary tract infection (UTI), liver disease, kidney diseases, diabetic test, and others.
Based on End users the test strip market is further divided into institutes & research laboratories, hospitals & clinics, diagnostic laboratories, and consumers. The rising demand of the point of care (POC) is expected to drive end users market for global test strip market.
Based on region, North America accounted for the largest share in the global test strip market, followed by Europe and Asia Pacific. The Asia Pacific market is expected to witness the highest growth owing to rising awareness regarding self-monitoring. Furthermore, various players are investing in the Asia Pacific market which is another major factor fueling the market growth.
Scope of the Report
This market research report covers the global test strips market by product, application, functions, end user, and region.
Global Test Strip Markets, By Product Type
Urine test strip
Global Test Strip Market, By Application
Urinary Tract Infection (UTI)
Blood Glucose Analysis
Global Test Strip Market, By Function
Visual Test Strips
Automated Test Strips
Global Test Strip Market, By End Users
Institutes & Research Laboratories
Hospitals & Clinics
Global Test Strip Market, by Region
• North America
o Rest of Europe
o Rest of Asia
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Table Of Content
1.2 Scope Of The Study
1.2.1 Research Objectives
1.2.2 Assumptions & Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Report Excerpt
4 Forecast Indicators
4.2 Growth Drivers
4.2.1 Government's Support
4.2.2 Technological Advancements
4.2.3 High Prevalence Of UTIs
4.2.4 Rising Diabetic Population
4.2.5 Technological Advancements
4.2.6 Players Engaged In Creating Awareness
4.3 Growth Barriers
4.3.1 Varied Regulatory Stringency Across Globe
4.3.2 Lower Rate Of Adoption In Under Developed Countries
4.3.3 Inadequate Reimbursement For Test Strips
4.4 Market Opportunities
4.4.1 Rising Point Of Care
4.4.2 Rising Disposable Income Of Emerging Economies
4.5 Macroecnomical Indicators
5 Market Analysis
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