Blood Glucose Test Strip Packaging Market Statistics 2030:
Diabetes testing strip is a disposable material and impregnated with a biological enzyme and used with a diabetes testing machine. The diabetes testing strips come packed together in a cylinder container with a lid. After opening the package and taking out a piece of test strip, if the lid is not closed properly in time, moisture may enter the package and make the unused test strip defective, causing the test results to be inaccurate and affecting the treatment of patients. To prevent this, more brands are beginning to use individually packed diabetics strips, which is convenient for consumers to carry and is safer for storage.
COVID-19 scenario analysis
According to the CDC research, diabetic people infected with the COVID-19 virus have a higher mortality rate than nondiabetic patients.
The market growth can be attributed to the increasing prevalence/incidence of diabetes worldwide. However, the outbreak of the COVID-19 pandemic has immensely contributed to the growth of the market. According to the CDC research, diabetic people infected with the COVID-19 virus have a higher mortality rate than nondiabetic patients. Thus, test strips are witnessing higher demand, as more people prefer self-monitoring of blood glucose monitoring devices. However, the impact of COVID-19 is not expected to have a long-term effect on the glucose monitoring test strips, which, in turn, increases the adoption of these devices.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rise in the prevalence of diabetes among population across the globe is one of the major factors driving the growth of blood glucose test strip packaging market. High usage of these strips and the financial support by the governments accelerate the market growth. Furthermore, the adoption of these strips has increased considerably, as they allow patients to perform test regularly at home without visiting a diagnostic laboratory. In addition, habit of binge eating and lack of physical activities lead to rise in prevalence of diabetes, which influence the blood glucose test strip packaging market. Moreover, rise in awareness about diabetes, changes in lifestyles of people such as consumption of alcohol and smoking, increase in rate of obesity cases, surge in geriatric population, and rise in awareness regarding diabetes preventive care positively impact the blood glucose test strip packaging market. Furthermore, technological advancements and product innovations extend profitable opportunities to the market players.
On the other hand, lack of reimbursement policies for test strips and lack of awareness regarding preventive care especially in the developing nations are the factors expected to obstruct the blood glucose test strip packaging market growth. Lack of awareness about the regular health checkups is projected to challenge the market.
Key benefits of the report
- This study presents the analytical depiction of the global blood glucose test strip packaging market research along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the blood glucose test strip packaging market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the blood glucose test strip packaging market research report
- Which are the leading players active in the blood glucose test strip packaging market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Blood Glucose Test Strip Packaging Market Report Highlights
By Distribution Channel
By End User
Key Market Players
GlaxoSmithKline plc,., LifeScan IP Holdings, LLC, AgaMatrix, Abbott, Elektronika Sales Pvt Ltd., Ascensia Diabetes Care Holdings AG, Terumo Corporation, i-SENS, Inc., Nipro, F. Hoffmann-La Roche Ltd