Test Strip Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Test Strip Market Analysis
The test strip market is expected to register a CAGR of 4.5% during the forecast period.
The COVID-19 pandemic significantly impacted the studied market. During the initial phase of the pandemic, the demand for test strips declined due to the disruption of the supply chain following strict lockdown guidelines. However, research and development (R&D) related to the diagnosis of COVID-19 infection increased tremendously. Researchers at universities and prominent market players developed several test strips for SARS-CoV-2 virus testing. For instance, in December 2021, researchers at UNC-Chapel Hill and the University of California developed a test strip that provides simple and accurate detection of COVID-19 infection within minutes. Also, the researchers anticipated that its portability and ease of manufacture could make it globally available, especially in rural or low-income regions that typically lack easy access to expensive PCR (polymerase chain reaction) testing equipment. Thus, such developments have significantly impacted the market's growth during the pandemic, and it is expected to continue its growth trend over the forecast period.
Factors such as the increasing burden of diabetes and urinary tract infections across the world, the rising preference for point-of-care (POC) testing, and increasing technological advancements in test strips at a global level are predicted to fuel the market's growth.
The test strip market is expected to grow significantly over the projected period, owing to the increased prevalence of diabetes and urinary tract infections (UTIs) around the world. For instance, according to the data updated by IDF Diabetes Atlas 10th edition report, 537 million adults, or 1 in 10 people of age between 20 to 79 years, were living with diabetes globally last year, and it is predicted to rise to 643 million by 2030 and 783 million by 2045. Thus, the increasing burden of diabetes among the population across the world is anticipated to boost the demand for blood glucose test strips, which are widely used for the diagnosis of diabetes, thereby boosting the market.
Additionally, increasing the rate of unwanted pregnancy is expected to boost the demand for pregnancy test strips. For instance, the data updated by the United Nations in March 2022 stated that there is a staggering number of unintended pregnancies globally, and nearly half of all pregnancies, or approximately 121 million pregnancies each year worldwide, are unintended. Such a high number of unexpected pregnancies is expected to bolster the demand for test trips, thereby boosting the market's growth.
Furthermore, the key players in the market are involved in product innovations and developments. These product launches will positively impact the test strip market's growth. For instance, in March 2022, Mankind Pharma's pregnancy test kit brand introduced a new and enhanced pregnancy detection test kit, "Prega News Advance." The company aims to continue to provide enhanced testing methods for verifying pregnancy. Therefore, these relevant product launches are expected to propel the growth of the market studied.
Thus, all the aforementioned factors are anticipated to drive the market's growth over the forecast period. However, reimbursement and the inaccuracy of test strips will limit the market during the forecast period.
Test Strip Market Trends
Diabetes Segment is Anticipated to Witness Significant Growth Over the Analysis Period
For diabetic patients, diabetes test strips are a convenient way to check blood sugar levels, often known as glucose levels. This is especially crucial for the diabetic population. The strips read blood sugar levels using glucose meters. With an increase in the prevalence and incidence of diabetes globally, the tests for diabetes are also increasing, which is expected to contribute to the segment's growth.
Diabetes is on the rise in both developing and established economies worldwide, contributing to the high demand for test strips. Another key growth-promoting aspect is the public's increased preference for point-of-care testing. For instance, as per the report published by IDF in December 2021, there were about 536 million people (aged 20-79 years) who were living with diabetes around the world last year, and it is estimated that the total diabetic population will reach 786 million by 2045. Additionally, technological advancements in the products are further anticipated to boost the segment's growth. For instance, in July 2021, Australian scientists developed pain-free blood sugar testing for diabetics, a non-invasive strip that checks glucose levels via saliva.
Additionally, in April 2021, Roche Accu-Chek Instant was launched in the United Kingdom drug tariff with a positive reimbursement price decision of nearly USD 8 or EUR 7.5 for 50 test strips. Thus, these increasing cases of diabetes and developments by key market players to bring technologically advanced products into the market are expected to boost the segment's growth.
North America is Anticipated to Grow Significantly Over the Forecast Period
North America holds a major share of the market studied and is expected to continue to do the same over the forecast period. Some of the factors that are driving the market growth in North America include increasing cases of diabetes and efforts taken by the national government to manage the disease at a larger level, along with the rising adoption of test strips and the presence of key market players.
The data updated by the CDC in January 2022 showed that 37.3 million, or 11.3% of the United States population, had diabetes, among which 28.7 million people, including 28.5 million adults, were diagnosed with the disease in the country last year. This population is anticipated to drive the demand for the use of test strips for diabetes, ultimately boosting the market's growth in the region.
Additionally, according to a research study published in NCBI in January 2022, at some point during their hospital stay, 12-16% of adult hospital inpatients in the United States were estimated to have an indwelling urinary catheter (IUC). For every day the IUC is left in place, a patient's chance of developing a catheter-associated urinary tract infection increases by 3-7% (CAUTI). Thus, overall, the prevalence of complicated UTIs is set to increase during the forecast period, mainly owing to the increasing bacterial resistance in UTI cases and the rise in the recurrence rate for UTIs. This is further expected to create demand for test strips, driving the market's growth.
Moreover, product launches by key market players are expected to further boost the studied market growth. For instance, in March 2021, FemBeat: Lia received approval from the USFDA for its flushable and biodegradable pregnancy test, and the company reported the launch of the test in the United States. Thus, owing to the rising burden of diabetes and urinary infections and continuous product launches, the market studied is expected to witness over the forecast period in North America.
Test Strip Industry Overview
The competition in the test strip market is rising rapidly. The key players in the test strip market are widening their share by improving demand in developing regions. The key strategies in the competitive landscape are market expansion, acquisitions, and partnerships. The major players include Abbott, Acon Lab, Ascensia, Arkray, B. Braun, Henry Schein, and Lifescan, among others.
Test Strip Market Leaders
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Acon Lab
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Ascensia
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Arkray
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B. Braun
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Abbott Laboratories
*Disclaimer: Major Players sorted in no particular order
Test Strip Market News
- Mar 2022: Virtual diabetes clinic 9am.health partnered with Ascensia Diabetes Care to add the Contour Next One blood glucose meter to its patient diabetes toolkit. 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 personalized treatment plan.
- Aug 2021: FIND, the global alliance for diagnostics, signed an agreement with i-SENS Inc. (Seoul, South Korea) and SD BIOSENSOR Inc. (Suwon-si, South Korea) to increase low- and middle-income countries (LMIC) access to blood glucose test strips by improving affordability.
Test Strip Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Burden of Diabetes and Urinary Tract Infection Across The Globe
- 4.2.2 Rising Preference for Point of Care Testing
- 4.2.3 Increasing Technological Advancements in Test Strips
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4.3 Market Restraints
- 4.3.1 Dearth of Reimbursement Policies
- 4.3.2 Lack of Accuracy in Test Results
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Blood Test Strips
- 5.1.2 Urine Test Strips
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5.2 By Application
- 5.2.1 Diabetes
- 5.2.2 Preganancy
- 5.2.3 Urinary Tract Infection
- 5.2.4 Others
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Home Care
- 5.3.3 Diagnostic Laboratories
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 Acon Lab
- 6.1.3 Ascensia
- 6.1.4 Arkray
- 6.1.5 B. Braun
- 6.1.6 Lifescan
- 6.1.7 F. Hoffmann-La Roche Ltd
- 6.1.8 Siemens Healthineers AG
- 6.1.9 Tiadoc Technology Corporation
- 6.1.10 Teco Diagnostics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Test Strip Industry Segmentation
As per the scope of the report, test strips are a key component of blood glucose testing and urinalysis. These test strips are used to monitor or control a diabetic patient's blood glucose level. It allows people who are pre-diabetic or diabetic to monitor their blood glucose levels on a regular basis without having to go to a clinic or a diagnostic laboratory.
The Test Strip Market is Segmented by Product (Blood Test Strips and Urine Test Strips), Application (Diabetes, Pregnancy, Urinary Tract Infection, and Other Applications), End User (Hospitals, Home Care, and Diagnostic Laboratories), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.
| By Product | Blood Test Strips | |
| Urine Test Strips | ||
| By Application | Diabetes | |
| Preganancy | ||
| Urinary Tract Infection | ||
| Others | ||
| By End User | Hospitals | |
| Home Care | ||
| Diagnostic Laboratories | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Test Strip Market Research FAQs
What is the current Test Strip Market size?
The Test Strip Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Test Strip Market?
Acon Lab, Ascensia, Arkray, B. Braun and Abbott Laboratories are the major companies operating in the Test Strip Market.
Which is the fastest growing region in Test Strip Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Test Strip Market?
In 2024, the Asia-Pacific accounts for the largest market share in Test Strip Market.
What years does this Test Strip Market cover?
The report covers the Test Strip Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Test Strip Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Test Strip Industry Report
Statistics for the 2023 Test Strip market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Test Strip analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
