According to the research report titled ‘Test Strips Market Size By Product (Diabetes Test Strips {Thick-film, Thin-film}, Urine Test Strips), By End-use (Hospitals, Home Care, Diagnostic Laboratories), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, Argentina, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global test strips market is expected to cross USD 11 billion by the year 2025.

According to the report, growing occurrence of diabetes across the globe is a major factor driving test strips market growth. The National Diabetes Statistics Report states that approximately 30.3 million people in America suffer from diabetes and the prevalence rate is predicted to increase in the forthcoming years. Additionally, rising frequency of chronic diseases such as urinary tract infections and kidney disorders is aiding the expansion of the market.

Advancements in technology coupled with rising awareness regarding the usage of test strips is stimulating the industry outlook. However, scarcity of favorable reimbursement policies pertaining to use of test strips will hinder the growth of test strips market. Test strips lack accuracy due to their low resolution properties, thereby impeding the market growth.

As per product type, diabetes test strips segment was worth USD 8.1 billion in the year 2018. According to IDF (International Diabetes Federation), U.S., China, and India have the highest prevalence rate of diabetes owing to lack of physical activities and rising adoption of unhealthy lifestyle. 

In terms of end-use spectrum, the report cites that hospitals segment will showcase a growth rate of 3.8% during the forecast period. The growth is attributed to low-cost of diabetes tests and high number of diabetes tests conducted in hospitals. Moreover, presence of advanced medical facilities in hospitals compels patients with high blood sugar level to test blood glucose levels in hospitals.

Considering the geographical landscape, UK test strips market is expected to reach USD 401.9 million by the year 2025. Abundance of key industry players coupled with increasing number of retail pharmacies are fueling the market growth. Rising number of laboratories that conduct urine analysis and blood glucose tests in consort with growing occurrences of urinary tract infection are contributing towards the popularity of the product across UK.

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Meanwhile, the report states that China test strips market is projected to expand with a CAGR of 5.1% during 2019-2025. Rising adoption of cigarettes and alcohol has boosted the incidence rate of diabetes in the region. Favorable tax policies pertaining to test strips and lancets in China are aiding the market expansion.

The prominent companies operating in test strips market are Tiadoc, Siemens, Henry Schein, Arkray, Acon Lab, B. Braun, Ascensia Diabetes Care , Abbott, Roche, and Lifescan among others.