Americas Blood Glucose Test Strip Packaging Market Overview
The Americas blood glucose test strip packaging market is growing mainly due to rising cases of diabetes. According to a recent study report published by the Market Research Future, the Americas blood glucose test strip packaging market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2020 – 2027).
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.
Notably, rising prevalence of diabetes is the primary driver Americas Blood Glucose Test Strip Packaging Market .Epidemic of obesity, socioeconomic transitions, nutrition transitions, and rapid urbanization are promoting the rising prevalence of most of the diseases. According to WHO, global prevalence of diabetes has risen from 4.7% to 8.5% in 2014. It is also estimated that around 1.6 million deaths have been occurred in 2015 due to diabetes worldwide. The rising prevalence of diabetes in low and middle-income countries appears to be fuelled by nutrition transition, rapid urbanization, and increasingly sedentary lifestyles, suggested by a study published in Pharmacoeconomics in 2015.
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Americas Blood Glucose Test Strip Packaging Market Segmentation
- 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.
- Based on technology the market is sub segmented by thick film electrochemical, thin film electrochemical, and optical.
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.
Americas Blood Glucose Test Strip Packaging Market Players
- HMD Biomedical,
- Braun Melsungen Ag,
- Ascensia Diabetes Care Holdings Ag,
- CSP Technologies Inc. (U.S),
- Apex Biotechnology Corporation,
- Abbott Laboratories,
- Roche Diagnostics,
- Acon Laboratories,
- SANNER GMBH (Germany)
- Flow Dry Technology Inc. (U.S)
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