The global blood glucose testing market is expected to grow substantially in the upcoming period. Blood glucose testing, better known as blood glucose monitoring, could be done even at home using blood glucose meter. This blood test implies pricking the finger with a needle (called “lanchet”), drawing drop of blood from finger and applying it to test strip engaged into blood glucose meter. Blood glucose testing strips hold the largest market share amongst various devices used for blood glucose testing.
Patients suffering from Type 2 and Type 1 Diabetes are likely to lead a healthier, better, and longer lifestyle by keeping a tab on their blood glucose levels. Blood glucose testing strips prove to be painful for geriatric population, in particular. As such, the latest trend catching up is use of insulin pens. The Indian market is the torchbearer in this regard.
The U.S. holds the largest market share and is expected to continue with its dominance in the near future; thanks to increase in the number of diabetic patients, technological advancements, and extensive spending on healthcare. Asia Pacific comes in second. This could be attributed to China featuring the highest number of blood glucose testing system. The other factors contributing to growth of market in Asia Pacific include increase in disposable income in economies like India and extensive research being carried out on this count. LATAM is another market expected to create ripples. Brazil is venturing into healthcare.
The blood glucose testing market could be segmented by distribution channel, component, product, application, and geography. By distribution channel, the segmentation goes like hospital, e-Commerce, drug stores, and retail pharmacy. Based on component, the market spans sensor, transmitter, and receiver. On the basis of application, the segmentation comprises gestational diabetes, type 1 diabetes, and type 2 diabetes.
By geography, the segmentation consists of North America, Western Europe, Asia Pacific, Eastern Europe, LATAM, and MEA. The players contributing to the blood glucose testing market include Terumo Corporation; Becton, Dickinson and Co.; Acon laboratories Inc.; Johnson & Johnson; Roche Diagnostics; Novo Nordisk A/S; Abbott Laboratories; Ypsomed AG; Bayer AG; and Medtronic. Majority of key players are adopting CGM technology. The players adopting it with immediate effect are bound to grab larger market share.
Leading players of Blood Glucose Testing including:
• B. Braun
• Nipro Dagnostics
• 77 Elektronika
• ALL Medicus
Market split by Type, can be divided into:
• Glucose Oxidase
• Glucose Dehydrogenase
Market split by Application, can be divided into:
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA