The blood glucose test strips market has been forecast to increase at a compound annual growth rate (CAGR) of 4.57% over the next five years, driven by the ever increasing population of diabetics and the increase in adoption of home healthcare devices.
One of the main drivers for this market is the increase in diabetic patients across the globe. Unhealthy lifestyles, changes in diet, and lack of physical exercise have led to an increase in the prevalence of diabetes. As a result, blood glucose test strips are increasingly used to measure blood glucose levels.
However, the presence of non-invasive blood glucose monitoring devices in the market could pose a challenge to the growth of this industry.
Blood glucose test strips (diabetes test strips) are one of the components of a diabetes monitoring system, and are an essential part of monitoring blood glucose.
Diabetes test strips do not work on their own, they are used in conjunction with a blood glucose monitor. A diabetic pricks themselves in order to draw blood, which is then applied to the test strip. The blood glucose monitor is then able to detect how much blood glucose is present.
Key companies currently dominating the blood glucose test strips market include Abbott Diabetes Care Inc., the leading manufacturer of diabetes blood glucose monitors and glucose meters, Bayer Healthcare AG, LifeScan Inc., a manufacturer and marketer of blood glucose monitoring systems like the OneTouch Ultra family for home and hospital use, and Roche Diagnostics Corp.
For more information on the blood glucose test strips market, see the latest research: Blood Glucose Test Strips Market
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