BLOOD GLUCOSE TEST STRIP MARKET ANALYSIS

Blood Glucose Test Strip MarketSize and Trends

The global Blood Glucose Test Strip market was valued at US$ 9.9 Bn in 2022 and is forecast to reach a value of US$ 17.7 Bn by 2030 at a CAGR of 7.4% between 2023 and 2030. The global blood glucose test strip market is experiencing strong growth owing to the increasing diabetes population and growing geriatric and population around the world. Moreover, increasing demand for blood glucose testing kits and the outbreak of COVID-19 is expected to boost the market growth. However, factors such as emergence of new bgm technology and invasiveness associated with the use of test strip are expected to hamper the growth of the global blood glucose test strip market.

Global Blood Glucose Test Strip Market: Trends:

Technological Innovation in the test strips is a recent trend

Interest in non-invasive glucose testing has peaked recently with the news that Google is working on the non-invasive technology of blood glucose monitoring. Other companies are also doing extensive research on it, GBSG is developing a test strip which is used to measure the glucose level via saliva and the result will be displayed on the mobile device. This kind of technology will revolutionize the test strip and blood glucose monitoring. Technological innovation in the test strip like improving the efficiency and accuracy of the results as compared to the already existing test strip in the market.

Increasing product advancements is another trend

Increasing technological advancements in the products and positive reimbursement of self-monitoring blood glucose meters in developed economies will also contribute to the growth of this market. For instance, the Dario blood glucose monitoring system is a cloud-based diabetes management system that combines software applications with an elegant all-in-one device with lancing device, test strip cartridge and compact meter.