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(Medical-NewsWire.com, December 31, 2018 ) The blood glucose test strip market includes establishments involved in manufacturing test strips used for blood sugar level measurement. Blood glucose test strips are thin paper or plastic strips which help to monitor blood glucose level and control diabetes symptoms. Test strips are generally used in medical devices called blood glucose meters to test blood glucose levels.
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Blood Glucose Test Strips Market Segments
Glucose dehydrogenase, which is a segment of the blood glucose test strips market, had the highest CAGR of 4% during 2013-2017; this segment is estimated to grow at a CAGR of 6.44% during 2017-2021. This segment includes blood glucose test strips with glucose dehydrogenase sensors. Glucose dehydrogenase is an enzyme or protein catalyst that is used to accelerate the oxidation of glucose to gluconic acid.
Glucose oxidase had the second highest CAGR of 2.5% during 2013-2017; this segment is estimated to grow at a CAGR of almost 3% during 2017-2021. This segment comprises blood glucose test strips based on glucose oxidase. Glucose oxidase is a chemical used in liquid and powder glucose laboratory reagents, urine test strips, colorimetric blood glucose test strips, and biosensors for blood glucose monitoring.
Companies included in the report are Roche, Johnson & Johnson, Ascensia, Abbot Laboratories and Trividia Health. Impact of each company on each geography with future trends and expected mergers & acquisitions are also mentioned in the report.
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Blood Glucose Test Strips Market Growth And Trends
The global blood glucose test strips market by value grew at a compound annual growth rate (CAGR) of 3% in 2017. This growth was mainly due to the rising prevalence of diabetes among the general population, increasing healthcare spending in both developing and developed countries,
economic growth, and rising per capita income which lead to greater use of diabetes care devices, and growing awareness about diabetes care and diabetes market in emerging countries such as China and India. Further its market is expected to inflate at a CAGR of 6% by 2021 after considering future trends.
Blood glucose test strip manufacturers are offering generic blood glucose test strips for the blood test market, for as a low-cost alternative to conventional test strips. Generic blood glucose test strips are third-party strips that work with a variety of blood glucose meters and are much less expensive than their counterparts.
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