Test Strip is a type of diagnostic devices which is the most important tools in Point of Care (POC) diagnostics. These test strip helps to achieve rapid diagnosis of various critical diseases such as urinary tract infection (UTI), liver disease, kidney diseases, diabetes test, ophthalmic disease and others with precision. Test strips are widely used for monitoring the blood glucose level in the diabetic patients. As per world Health Organization (WHO), it was estimated that in 2016, 420 million adult population is suffering from diabetes all over the world will and the number is expected to reach 625 million till 2040.
The market is expected grow with the same trends during the forecast period. The major drivers supporting the growth of the market will be presence of huge diabetic patient population in Asia Pacific region like India and China. According to WHO (2014), 60% of the world’s total diabetic population lives in Asia region. Moreover, the global test strip market is driven by rising geriatric population, and rapid development in the test strips has driven the growth of the market. Moreover, changing lifestyle, and government initiatives for encouragement for the research & development has fuelled the market growth. On the other hand, availability of alternative methods for diagnosis like saliva collection devices has restrained the growth of global test strip market.
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Global Test Strip Market – Key Players
- Hoffmann-La Roche Ltd (Switzerland)
- Siemens Ltd. (Germany)
- Abbott (US)
- B. Braun (Germany)
- LifeScan, Inc. (US)
- Chiltern MediCare Ltd. (US)
- Henry Schein, Inc. (US)
- Lifeassay Diagnostics (South Africa)
- Siemens Healthcare Private Limited (Germany)
- ARKRAY Inc. (US)
- Ascensia Diabetes Care Holdings AG. (Switzerland)
- TaiDoc Technology Corporation (Taiwan)
- Teco Diagnostics (US)
are some of the prominent players at the forefront of competition in the Global Test Strip Market and are profiled in MRFR Analysis.
Global Test Strip Market – Segmentation
The Global Test Strip Market has been segmented based on product type, application, function, and end user.
By product type, the global test strip market has been segmented into urine test strip, diabetic strips, and fluorescein. The diabetic strips segment is expected to command the highest market share. Increasing occurrence rate of diabetes among the global populace can be attributed to the growth of the segment.
By application, the global test strip market has been segmented into disease diagnosis and pregnancy tests. The disease diagnosis segment has been further segmented into urinalysis, blood glucose analysis, and ophthalmic diagnostic. The urinalysis segment has been further segmented into urinary tract infection (UTI), liver disease, kidney diseases, diabetic test, and others.
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By function, the global test strip market has been segmented into visual test strips and automated test strips.
By end user, the global test strip market has been segmented into institutes & research laboratories, hospitals & clinics, diagnostic laboratories, and consumers.
Global Test Strip Market – Regional Analysis
By region, The Global Test Strip Market has been segmented into Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
North America has commanded the largest share of the global test strip market. Surging prevalence of chronic diseases in the region coupled with the growing trend of self-monitoring supports the growth of the North America test strips market. Additionally, well-spread awareness, the existence of major companies in the region and augmenting demand for effective, faster diagnosis are other contributing factors.
Europe accounts for the second most significant share of the global test strip market. Expanding healthcare expenditure, and the presence of a robust health sector along with existing market players in Europe create a conducive environment for the growth of the market.
APAC is poised to be the fastest growing Test Strips Market. The proliferation of the healthcare sector, increasing healthcare awareness, and growing expenditure on healthcare in the developing economies such as China and India stimulate the growth of the market in APAC. Manufacturers from the developed countries are showing a keen interest in such flourishing market motivated by the presence of a huge patient pool in the region which has presented a host of opportunities for the growth of the test strip market in APAC.
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