The global test strips market size was estimated to be USD 6.34 billion in 2023 and is expected to reach at USD 17.33 billion by 2034 with a CAGR of 9.57% during the forecast period 2024-2034. Surge in prevalence of diabetes & urinary tract infections, increasing preference for point-of-care (POC) testing, growing technological advancements in test strips, rising rate of unwanted pregnancy, surge in product innovations & developments, and increasing launch innovative test trips by leading market players are some of the key factors boosting the market growth.
Increasing launch innovative test trips by leading market players is predicted to boost the market growth during the forecast period. Test strip demand is anticipated to increase as the prevalence of unintended pregnancies, diabetes, and urinary tract infections (UTIs) around the world rises. For instance, in March 2022, Prega News Advance, a new and improved pregnancy detection test kit from Mankind Pharma, was released. The business wants to keep offering improved techniques for confirming pregnancy.
By product, blood test strips was the highest revenue-grossing segment in the global test strips market in 2023 owing to growing application of test strips for test strips for POC testing, rising cases of diabetes, and surge in collaborations within market players. For instance, in Mar 2022, The Contour Next One blood glucose meter has been added to the patient diabetes toolkit by virtual diabetes clinic 9am.health in collaboration with Ascensia Diabetes Care. As part of the partnership, the clinic's patients with type 2 diabetes and prediabetes may now supplement their individualized treatment plans with Ascensia's blood glucose meter and 100 to 300 test strips. Additionally, urine test strips is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of urinary tract infections, and surge in number of companies developing urine strips.
By application, diabetes was the highest revenue-grossing segment in the global test strips market in 2023 owing to growing prevalence of diabetes, increasing demand for test strips, rising public's increased preference for point-of-care testing, and surge in technological advancements in the products. For instance, in November 2022, Ascensia Diabetes Care has announced the global integration of Apple Health and Eversense CGM systems. This means that individuals with diabetes using Eversense CGM Systems can now access their glucose readings and other health metrics through the widely-used iPhone health and wellness app, Apple Health. Additionally, urinary tract infection is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of urinary tract infection, growing demand for early diagnosis of this disease, and rising focus on development of advanced products.
By end-user, hospitals was the highest revenue-grossing segment in the global test strips market in 2023 owing to surge in number of patients suffering from UTI’s, increasing prevalence of severe diabetes, and growing approvals by regulatory bodies. Additionally, homecare is predicted to grow at fastest CAGR during the forecast period owing to the increasing burden of diabetes, rising focus on developments by key market players, growing launch of technologically advanced products. For instance, in May 2022, OmegaQuant has launched a home-testing kit for HbA1c blood sugar levels, enabling users to measure their glucose metabolism. Traditionally, HbA1c testing requires a blood sample and laboratory analysis, but OmegaQuant's HbA1c test simplifies the process, as it only requires a finger prick. This allows customers to conveniently perform the test at home, at their own convenience.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising burden of diabetes, surge in efforts taken by the government to manage the disease, growing adoption of test strips, presence of key market players, increasing prevalence of complicated UTIs, rising product launches by key market players. For instance, in March 2022, The Ministry of Health Canada has introduced changes to the way blood glucose test strips are paid for under the Ontario Drug Benefit (ODB) Program's Health Network System (HNS). The HNS will now determine the maximum annual quantity limit for blood glucose test strips by reviewing online claims and reimbursement documents submitted by patients eligible for ODB benefits. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing aging population, rising investment by major market players, increasing demand for home & POC testing, surge in collaborations within market players, and growing launch of advanced testing strips. For instance, in June 2022, Genes2Me Pvt. Ltd., a prominent manufacturer of in-vitro diagnostic solutions in India, has introduced the CoviEasy Self-Test Rapid Antigen test kit for COVID-19. This kit is designed for ease of use and provides rapid results within just 10 minutes.
Increasing launch innovative test trips by leading market players is predicted to boost the market growth during the forecast period. Test strip demand is anticipated to increase as the prevalence of unintended pregnancies, diabetes, and urinary tract infections (UTIs) around the world rises. For instance, in March 2022, Prega News Advance, a new and improved pregnancy detection test kit from Mankind Pharma, was released. The business wants to keep offering improved techniques for confirming pregnancy.
By product, blood test strips was the highest revenue-grossing segment in the global test strips market in 2023 owing to growing application of test strips for test strips for POC testing, rising cases of diabetes, and surge in collaborations within market players. For instance, in Mar 2022, The Contour Next One blood glucose meter has been added to the patient diabetes toolkit by virtual diabetes clinic 9am.health in collaboration with Ascensia Diabetes Care. As part of the partnership, the clinic's patients with type 2 diabetes and prediabetes may now supplement their individualized treatment plans with Ascensia's blood glucose meter and 100 to 300 test strips. Additionally, urine test strips is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of urinary tract infections, and surge in number of companies developing urine strips.
By application, diabetes was the highest revenue-grossing segment in the global test strips market in 2023 owing to growing prevalence of diabetes, increasing demand for test strips, rising public's increased preference for point-of-care testing, and surge in technological advancements in the products. For instance, in November 2022, Ascensia Diabetes Care has announced the global integration of Apple Health and Eversense CGM systems. This means that individuals with diabetes using Eversense CGM Systems can now access their glucose readings and other health metrics through the widely-used iPhone health and wellness app, Apple Health. Additionally, urinary tract infection is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of urinary tract infection, growing demand for early diagnosis of this disease, and rising focus on development of advanced products.
By end-user, hospitals was the highest revenue-grossing segment in the global test strips market in 2023 owing to surge in number of patients suffering from UTI’s, increasing prevalence of severe diabetes, and growing approvals by regulatory bodies. Additionally, homecare is predicted to grow at fastest CAGR during the forecast period owing to the increasing burden of diabetes, rising focus on developments by key market players, growing launch of technologically advanced products. For instance, in May 2022, OmegaQuant has launched a home-testing kit for HbA1c blood sugar levels, enabling users to measure their glucose metabolism. Traditionally, HbA1c testing requires a blood sample and laboratory analysis, but OmegaQuant's HbA1c test simplifies the process, as it only requires a finger prick. This allows customers to conveniently perform the test at home, at their own convenience.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising burden of diabetes, surge in efforts taken by the government to manage the disease, growing adoption of test strips, presence of key market players, increasing prevalence of complicated UTIs, rising product launches by key market players. For instance, in March 2022, The Ministry of Health Canada has introduced changes to the way blood glucose test strips are paid for under the Ontario Drug Benefit (ODB) Program's Health Network System (HNS). The HNS will now determine the maximum annual quantity limit for blood glucose test strips by reviewing online claims and reimbursement documents submitted by patients eligible for ODB benefits. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing aging population, rising investment by major market players, increasing demand for home & POC testing, surge in collaborations within market players, and growing launch of advanced testing strips. For instance, in June 2022, Genes2Me Pvt. Ltd., a prominent manufacturer of in-vitro diagnostic solutions in India, has introduced the CoviEasy Self-Test Rapid Antigen test kit for COVID-19. This kit is designed for ease of use and provides rapid results within just 10 minutes.
Segmentation: Test Strips Market Report 2022 - 2033
Test Strips Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Urine Test Strips
- Blood Test Strips
Test Strips Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Pregnancy
- Diabetes
- Urinary Tract Infection
- Others
Test Strips Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Homecare
- Diagnostic Laboratories
Test Strips Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Test Strips Market: Product Estimates & Trend Analysis
8. Test Strips Market: Application Estimates & Trend Analysis
9. Test Strips Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Test Strips Market
12. Europe Global Test Strips Market
13. Asia Pacific Global Test Strips Market
14. Latin America Global Test Strips Market
15. MEA Global Test Strips Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Siemens Healthineers AG
- Ascensia
- B. Braun
- Arkray
- Acon Lab
- Lifescan
- Teco Diagnostics
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd
- Tiadoc Technology Corporation
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | January 2024 |
Forecast Period | 2023 - 2034 |
Estimated Market Value ( USD | $ 6.34 Billion |
Forecasted Market Value ( USD | $ 17.33 Billion |
Compound Annual Growth Rate | 9.5% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |