Global Test Strip Market, By Product (Fluorescein, Diabetic Strips, Urine Test Strip), Diagnosis (Urinalysis, Pregnancy Test), End Users (Consumers, Hospitals, Clinics, Diagnostic Laboratories), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
The global test strip market is expected to witness market growth at a rate of 3.68% in the forecast period of 2021 to 2028 and is expected to reach USD 11,375.85 million by 2028. Data Bridge Market Research report on test strip market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The convenience of the product is escalating the growth of test strip market.
Test strip refers to a small disposable plastic strip which assists in monitoring and controlling various diseases and infections such as urinary tract infection (UTI), liver disease, kidney diseases, ophthalmic disease and diabetes among others. They are considered an important tool in point of care (POC) diagnostics.
The rise in the prevalence of other chronic diseases such as kidney disorders and urinary tract infections among population, acts as one of the major factors driving the growth of test strip market. The growing adoption of the strips because they allow the patient to perform their test at home without visiting a diagnostic laboratory and rising incidence of kidney disorders because of increasing intake of alcohol accelerate the test strip market growth. The increase in the usage of these strips as a patient suffering from diabetes is expected to test his sugar at least 2-3 times a day and the financial support by the governments further influence the test strip market. Additionally, rise in awareness regarding preventive care, the change in lifestyles of people such as consumption of alcohol and smoking, growing geriatric population and growth in awareness regarding various diseases positively affect the test strip market. Furthermore, product innovations and technological advancements extend profitable opportunities to the test strip market players in the forecast period of 2021 to 2028.
On the other hand, lack of awareness among the population about various chronic diseases is expected to obstruct the test strip market growth. Lack of reimbursement policies for test strips is projected to challenge the test strip market in the forecast period of 2021-2028.
This test strip market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on test strip market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Test Strip Market Scope and Market Size
The test strip market is segmented on the basis of product, diagnosis and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the test strip market is segmented into fluorescein, diabetic strips and urine test strip.
- On the basis of diagnosis, the test strip market is segmented into urinalysis, blood glucose analysis, ophthalmic diagnostic and pregnancy test. Urinalysis is further segmented into urinary tract infection (UTI), liver disease, kidney diseases, diabetic test and others.
- On the basis of end users, the test strip market is segmented into consumers, hospitals, clinics and diagnostic laboratories.
Global Test Strip Market Country Level Analysis
The test strip market is analyzed and market size insights and trends are provided by country, product, diagnosis and end users as referenced above.
The countries covered in the test strip market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the test strip market because of the increasing number of companies manufacturing diabetes test strips, growing prevalence of diabetes and fastest uptake of new technology. Asia-Pacific is estimated to witness the highest growth in the forecast period of 2021-2028 due to the rising awareness regarding self-monitoring in the region.
The country section of the test strip market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The test strip market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for test strip market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the test strip market. The data is available for historic period 2011-2019.
Competitive Landscape and Test Strip Market Share Analysis
The test strip market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to test strip market.
The major players covered in the test strip market report are ARKRAY, Inc., ChilternMediCare, Henry Schein, Inc., LifeAssay Diagnostics, Siemens Healthcare GmbH, Teco Diagnostics, Abbott, F. Hoffmann-La Roche Ltd, LifeScan IP Holdings, LLC, i-SENS, Inc., Ascensia Diabetes Care Holdings AG, AgaMatrix, Elektronika Sales Pvt Ltd., Universal Biosensors, Nipro, TaiDoc Technology Corporation, APEX BIOTECHNOLOGY CORP., B. Braun Melsungen AG, HMD, Betachek, Shanghai MicroSense, Yuwell-Jiangsu Yuwell Medical Equipment & Supply Co., Ltd., ACON Laboratories, Inc., Terumo Corporation, OMRON Corporation, MEDISANA GMBH, GlaxoSmithKline plc, Bayer AG among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Test Strip Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.