Test Strip Market Dynamics 2021-2031
[Research Report] The test strip market size is expected to grow from US$ 11 billion in 2022 to US$ 12.5 billion by 2031; it is estimated to register a CAGR of 2.1% from 2022 to 2031.
Analyst’s Viewpoint
The global test strip market analysis explains market drivers such as the rising cases of diabetes and growing demand for point of care testing. Further, technological advancements in test strips are expected to introduce new trends in the market during 2022–2031. Based on product type, the global test strip market is bifurcated into blood test strips and urine test strips. The blood test strips segment held a larger market share in 2022 and the same segment is anticipated to register a higher CAGR during the forecast period. The global test strip market, by application, is segmented into diabetes, pregnancy, urinary tract infection, and others. The diabetes segment held a larger market share in 2022 and the segment is anticipated to register a higher CAGR during the forecast period. Based on end user, the global test strip market, is segregated as hospitals & clinics, home care, and diagnostic laboratories. The hospitals & clinics segment is expected to account for a maximum share of the global test strip market during 2022–2031.
A test strip is crucial for the medical diagnostics industry, especially for blood sugar testing and urinalysis. Test strips consist of multiple layers, including hydrophilic inner, adhesive, and electrode layers and an outer layer that provides stability. Test strips monitor and control glucose levels in people with diabetes, enabling them to treat their disease effectively. Using test strips, prediabetics and diabetics can monitor their blood sugar levels regularly without visiting a clinic or diagnostic laboratory. Urine test strips are also crucial in medical diagnostics, particularly for monitoring kidney function and detecting urinary tract infections. These test strips detect the presence of various substances in the urine, such as glucose, ketones, and proteins.
Growth Drivers
Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s incapacity to produce or effectively utilize the hormone insulin. This incapacity prevents the body from adequately regulating blood glucose levels. Incidence and prevalence of diabetes are rapidly increasing across the globe. Test strips are an important part of blood glucose measurement and urinalysis and are used to monitor and control glucose levels in people with diabetes. They allow pre-diabetics and diabetics to monitor their blood sugar levels regularly from their homes. In 2021, 536 million people between 20 and 79 had diabetes. The most prevalent form of diabetes is Type 2 diabetes which has grown alongside cultural and societal changes. In high-income countries, up to 91% of adults suffering from diabetes have type 2 diabetes. Approximately 537 million people were living with diabetes in 2021, and it is likely to reach 643 million by 2031 & 783 million by 2045 across the globe according to the International Diabetes Federation (IDF),. Diabetes can lead to complications in many body parts and increase the risk of premature death. Primary complications include heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage. Patients who have diabetes require frequent monitoring and external administration of insulin. Thus, the rising prevalence of diabetes globally is driving the insulin market.
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Test Strip Market: Strategic Insights
Market Size Value in US$ 11 billion in 2022 Market Size Value by US$ 12.5 billion by 2030 Growth rate CAGR of 2.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Test Strip Market: Strategic Insights
| Market Size Value in | US$ 11 billion in 2022 |
| Market Size Value by | US$ 12.5 billion by 2030 |
| Growth rate | CAGR of 2.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope
Product Type-Based Insights
Based on product type, the global test strip market is bifurcated into blood test strips and urine test strips. Blood test strips segment accounts larger market share in 2022 and the same segment is anticipated to register a higher CAGR during the forecast period. Blood glucose test strips measure the glucose level in a drop of blood obtained from a finger prick. The test strip is inserted into a blood glucose meter, measuring the blood sample's amount of glucose. The data is then displayed on the meter's screen, allowing the patient to track their blood sugar levels over time.
Application-Based Insights
Based on application, the global test strip market is segmented into diabetes, pregnancy, urinary tract infection, and others. Diabetes segment accounts for a majority market share in 2022 and is expected to record a higher CAGR during the forecast period. This growth is accredited to the increasing prevalence of diabetes in various developing and developed countries worldwide. The population's growing preference for point-of-care testing is another important segment growth.
End User-Based Insights
Based on end user, the global test strip market is segmented into hospitals & clinics, home care, and diagnostic laboratories. The hospitals & clinics segment held a larger market share in 2022 for global test strip market.
Regional Analysis
The test strip market's growth is attributed to increasing incidence of diabetes and growing demand for point of care testing. However, the rising competition in the test strip market is likely to hinder the market growth. Based on geography, North America accounts largest share for test strip market. Likewise, Asia Pacific is expected to register the highest CAGR for test strip market during the forecast period 2022-2031.
The increasing number of diabetes cases, the national government's efforts to combat the disease more broadly, the increasing penetration of test strips, and the presence of major market players are some of the driving factors in North America market. In North America the US is expected to hold the largest market share. Data updated by the CDC in January 2022 showed that 37.3 million, or 11.3%, of the US population had diabetes, with 28.7 million people, including 28.5 million adults, having the disease in the country last year. This demographic is expected to drive demand for diabetes test strips and fuel market growth in the region. Additionally, an estimated 12-16% of adult hospital inpatients in the United States had an indwelling urinary catheter (IUC) at some point during their hospital stay, according to a research study published in NCBI in January 2022. Each day the IUC remains in place, a patient's risk of developing a catheter-associated urinary tract infection (CAUTI) increases by 3-7%. Overall, the prevalence of complicated urinary tract infections will likely increase over the forecast period, primarily due to increasing bacterial resistance to urinary tract infections and the increase in recurrence rates. This is expected to increase the demand for test strips and drive market growth.
The Europe test strip market accounts for the second largest market share due to the prevalence of chronic diseases and increasing support from the government through increasing investments in building hospitals with new equipment in the region. In addition, the German test strip market was reported to have the largest market share, and the UK test strip market is considered the fastest-growing market in Europe. In addition, the French test strip market will rank third in market share. Asia Pacific is expected to witness the highest CAGR for the test strips market. This is due to the increasing prevalence of obesity in the Asia-Pacific region. In addition, the test strip market in China is expected to hold the largest market share, and the test strip market in India is expected to be the fastest-growing market in the Asia Pacific. Furthermore, China is expected to experience positive growth due to the highest number of diabetics, followed by India. Therefore, the increasing prevalence of diabetes in these countries will boost the growth of the test strip market.
- In March 2022, Virtual Diabetes Clinic 9am.health partnered with Ascensia Diabetes Care to add the Contour Next One blood glucose meter to its diabetes toolkit for patients. As part of the collaboration, the clinic's type 2 diabetes and prediabetes patients can now add Ascensia's blood glucose meter and 100 to 300 test strips to their individualized treatment plan.
- In August 2021, Becton, Dickinson, and Company received approval for the OTC rapid antigen test with the Scanwell Health mobile app.
- In August 2021, FIND, the global alliance for diagnostics, signed an agreement with i-SENS Inc. and SD BIOSENSOR Inc. of South Korea to increase access to blood glucose test strips in low- and middle-income countries (LMIC) by improving affordability.
- In April 2021, Becton, Dickinson, and Company partnered with USA Track & Field (USATF) to provide rapid COVID-19 testing for athletes using the BD Veritor Plus System.
- In April 2021, Roche Accu-Chek Instant was introduced into the UK drug tariff with a positive reimbursement price notice of just under USD 8 or EUR 7.5 for 50 test strips.
- In April 2021, Hologic (USA) launched its second high-throughput molecular test for the novel coronavirus (SARS-CoV-2).
Company Profiles
- F. Hoffmann-La Roche AG
- Abbott Laboratories
- Lifescan
- Bayer AG
- B Braun
- Siemens AG
- Arkray
- Henry Schein Inc.
- ACON Laboratories, Inc.
- TaiDoc Technology Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
- F. Hoffmann-La Roche AG
- Abbott Laboratories
- Lifescan
- Bayer AG
- B Braun
- Siemens AG
- Arkray
- Henry Schein Inc.
- ACON Laboratories, Inc.
- TaiDoc Technology Corporation
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