Americas Blood Glucose Test Strip Packaging Market Overview
The Americas Blood Glucose Test Strip Packaging Market is projected to reach USD 283.8 Million by 2030 at 5.1% CAGR during the forecast period 2022-2030. Blood glucose test strip are intended to measure the blood sugar level which is based on the reaction of glucose in the blood with glucose oxidase present on the strips.Rising cases of diabetes coupled with the rise in risk factors such as obesity, nutrition transitions to sugar and fat rich junk foods, sedentary lifestyles due to socioeconomic transition, rising healthcare expenditure, and rapid urbanization are the prime drivers of the market. According to the American Diabetes Association, America has approximately 30 million diabetics with 1 patient diagnosed with diabetes every 21 seconds.Technical drivers of the market are advancements in dry chemistry, increasing adoption of flexible packaging solutions, development of ecommerce, development of multi-layered strips and others.
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Blood glucose test strip are intended to measure the blood sugar level which is based on the reaction of glucose in the blood with glucose oxidase present on the strips. Rising cases of diabetes coupled with the rise in risk factors such as obesity, nutrition transitions to sugar and fat rich junk foods, sedentary lifestyles due to socioeconomic transition, rising healthcare expenditure, and rapid urbanization are the prime drivers of the market. According to the American Diabetes Association, America has approximately 30 million diabetics with 1 patient diagnosed with diabetes every 21 seconds. Technical drivers of the market are advancements in dry chemistry, increasing adoption of flexible packaging solutions, development of ecommerce, development of multi-layered strips and others.
The evolution of the blood glucose test strip from a dye technology to electrochemical technology is expected to revolutionise the industry. Further application convergence has resulted in availability of blood glucose and blood combo test strips. Product development is the most neglected aspect of the Americas glucose test strip market, with Americas Blood Glucose Test Strip Packaging Market development is been over utilised and applied. The availability of test strips produced from silk is however an innovation difficult to oversee. The silk reduces dye migration, has superior antibacterial properties and simpler production methodologies resulting in a high quality product.Rising awareness about the secondary effects of Diabetes such as kidney failure, blindness, heart attacks, lower limb amputation, and stroke are psychographic drivers of the market.
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Segmentation
- Based on technology the market is sub segmented by thick film electrochemical, thin film electrochemical, and optical.
- The market for Blood Glucose Test Strip market is segmented on the basis of economics of trade and Technology
- Based on economics of trade the market has been sub segmented by volume and value
Americas Blood Glucose Test Strip Packaging Market Regional Analysis
North America accounts for the largest market and is dominated by the U.S. followed by Canada. Both the U.S. and Canada are high income economies with developed healthcare infrastructure. However the South American markets of Brazil, and Venezuela are expected to gain significantly owing to shift of diabetes to these regions
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According to the American Diabetes Association, America has approximately 30 million diabetics with 1 patient diagnosed with diabetes every 21 seconds.Technical drivers of the market are advancements in dry chemistry, increasing adoption of flexible packaging solutions, development of ecommerce, development of multi-layered strips and others.The evolution of the blood glucose test strip from a dye technology to electrochemical technology is expected to revolutionise the industry.
The availability of test strips produced from silk is however an innovation difficult to oversee.
Market saturation and lack of product differentiation is a serious problem for many players resulting in monotonous product lines with different names.The reimbursement cuts for diabetes testing supplies by Medicare up to 72 % is a serious threat to the market.
According to the new reimbursement policies, diabetics receiving their glucose-testing supplies delivered to their homes will need to obtain them from 1 of 18 contract suppliers chosen by Medicare via a competitive bidding process.
As per the report that has been published by Market Research Future (MRFR), the global blood glucose test strip packaging market is registered to expand steadily in the coming years.Market Drivers and Restraints:Increasing demand for blood glucose test strips due to rise in prevalence of diabetes in all the regions of the world and rapid adoption of self-blood glucose testing devices are majorly propelling the expansion of the global blood glucose test strip packaging market.
Innovation in the manufacturing process by the incorporation of advanced technology has significantly improved the quality of packaging, which in turn is fueling the growth of the global blood glucose test strip packaging market.Increasing geriatric population, prevalence of obesity and diabetes and the adoption of flexible packaging solutions are some of the other factors that are driving the global blood glucose test strip packaging market.
However, poor healthcare facilities in the underdeveloped regions and lack of awareness are likely to impact negatively on the growth of the global blood glucose test strip packaging market.
Request Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/551Market Segmentation:The global blood glucose test strip packaging market has been segmented on the basis of product type.
Based on product type, the blood glucose test strip packaging market is segmented into plastic vials, aluminum foils and others.
The plastic vials segment is sub-segmented into plastic vials with loose desiccant, plastic vials with injected desiccant, plastic vials with other desiccant and plastic vials without desiccant.Regional Analysis:Geographically, the global blood glucose test strip packaging market has been segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa.
Market ScenarioThe blood glucose test strip market is presumed to garner USD 18.5 billion during the forecast period (2015-2020).
It is a crucial component of blood glucose meters that helps to monitor and control diabetes.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/976Drivers and Constraints Impacting the MarketBlood glucose test strips are self-testing strips which let pre-diabetic and diabetic people track their blood glucose level on a regular basis without visiting a diagnostic laboratory or a clinic.
With the growing diabetic population, the global market for blood glucose test strip is considered to foster during the assessment period.
For instance, as per the International Diabetic Federation, around 415 million people had diabetes in 2015.
Moreover, technological advancements such as accuracy of the tests along with awareness among the people regarding diabetes are stimulating the market growth.Global Blood Glucose Test Strip Market: Segmental AnalysisThe blood glucose test strip market has been segmented on the basis of technology, distribution channel, and region.By mode of technology, the global blood glucose test strip market has been segmented into optical, thin film electrochemical, and thick film electrochemical.By mode of distribution channel, the global blood glucose test strip market has been segmented into retail pharmacy and hospital pharmacy.
The growth is attributed to the increasing preference for self-care testing among the patients to monitor diabetes.Regional InsightsGeographically, the global blood glucose test strip market span across regions namely, North America, Europe, Asia Pacific, and the Middle East and Africa.Among all the regions, North America is presumed to lead the global blood glucose test strip market with $ 7.89 billion revenue.
