Test Strips Market Size

Test Strips Market Size

Test Strips Market size was valued at USD 8.6 billion in 2018 and is expected to witness 3.8% CAGR from 2019 to 2025.

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Test strips are a key component of blood glucose testing and urinalysis. These test strips are used to monitor or control glucose level of a diabetic patient.  It helps pre-diabetic and diabetic people track their blood glucose level on a regular basis without visiting a clinic or a diagnostic laboratory. The global test strip market is expected to witness substantial growth over the forecast timeframe, owing to increasing prevalence of diabetes across the globe. For instance, as per the National Diabetes Statistics report, 9.4% of the U.S. population had diabetes in 2015. Hence, increasing prevalence of diabetes is a major growth augmenting factor.

Increasing prevalence of other chronic diseases such as kidney disorders and urinary tract infections is another chief growth propelling factor. Increasing incidence of kidney disorders owing to rising intake of alcohol will significantly drive test strips market growth. Moreover, growing habit of binge eating and lack of physical activities leading to rise in prevalence of diabetes will further boost pro duct demand, thus augmenting market demand.

However, in few underdeveloped regions of the world, people tend to ignore regular health check-ups leading to an increasing number of undiagnosed patients. Hence, dearth of awareness among the population about various chronic diseases is a major growth restricting factor. Furthermore, lack of reimbursement policies for test strips is another hindrance, that will limit the market demand.