Test Strip Market Size, Trends Analysis and Industry Set For Rapid Growth with 12.8% of CAGR by 2021

International Test Strip Market report gives expected growth of Top players at CAGR 12.8% during the forecast period of 2018–2021. On the basis of Product Type, the market is classified as Urine test strip, Diabetic Strips, Fluorescein and others.

Pune, Maharashtra - December 3, 2018 /MarketersMedia/ —

Market Research Future published a Half-Cooked research report on “Global Test Strip Market Research Report - Forecast to 2023” – Market Analysis, Scope, Progress, Trends and Forecast to 2023. The Global Test Strip Market is expecting a sound growth at a CAGR of 12.8% during the forecasted period.

Global Test Strip Market – Key Players

Hoffmann-La Roche Ltd (Switzerland), Siemens Ltd. (Germany), Abbott (US), B. Braun (Germany), LifeScan, Inc. (US), Chiltern MediCare Ltd. (US), Henry Schein, Inc. (US), Lifeassay Diagnostics (South Africa), Siemens Healthcare Private Limited (Germany), ARKRAY Inc. (US), Ascensia Diabetes Care Holdings AG. (Switzerland), TaiDoc Technology Corporation (Taiwan), Teco Diagnostics (US) are some of the prominent players at the forefront of competition in the Global Test Strip Market and are profiled in MRFR Analysis.

Industry/ Innovations/ Related News:

June 5, 2018 – Waters Corporation (US), a publicly traded Analytical Laboratory instrument and software company launched its new user-friendly lateral flow zearalenone strip test - The Zearala-V AQUA. Eliminating the for organic solvents using a water-based dilution-free extraction the Zearala-V AQUA test strips use the proven sensitivity and selectivity of VICAM’s monoclonal antibodies to accurately detect and measure zearalenone at levels as low as 0.1 ppm and as high as 5.0 ppm.

Hoffmann-La Roche Ltd, Swiss multinational healthcare company focuses on the development and distribution of test strips. For this, in June 2017, Roche has acquired mySugr to form a leading open platform for digital diabetes management. Hence, the growing mergers and acquisitions, new product launches in the field of test strip has upsurge the growth of the market.

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Global Test Strip Market – Overview

Test Strip is a type of diagnostic devices which is the most important tools in Point of Care (POC) diagnostics. These test strip helps to achieve rapid diagnosis of various critical diseases such as urinary tract infection (UTI), liver disease, kidney diseases, diabetes test, ophthalmic disease and others with precision.

Increasing prevalence of diabetes, and other urinary tract diseases has supported the growth of this market. According to a recent study report published by the Market Research Future, the Global Test Strip Market is booming and expected to gain prominence over the forecast period. The market is expected grow with the same trends during the forecast period. The major drivers supporting the growth of the market will be presence of huge diabetic patient population in Asia Pacific region like India and China.

Global Test Strip Market – Segmentation

MRFR has segmented the report into four key dynamics:

Product Types: Comprises Diabetic Strips, Urine Test Strip and Fluorescein, among others.

By Applications: Diagnosis (Urinalysis, Blood Glucose Analysis, and Ophthalmic Diagnostic, others). Pregnancy Test, and Disease Diagnosis (UTI, Liver & Kidney Diseases, Diabetic Test, others) among others.

By End-Users: Hospitals, Consumers, Clinics, Institutes & Research Laboratories, and Diagnostic Laboratories.

By Regions: North America, Europe, APAC and Rest of the World.

The Diabetic Strips segment is expected to witness high growth rate due to rising government initiatives and concerns for diabetics across the globe.

The end-user’s segment is driven by the rising demand for point of care (POC).

Global Test Strip Market – Regional Analysis

Globally, the North America market dominates the Test Strip market. Factors such as rising incidences of UTIs, diabetes and other chronic diseases such as liver & kidney disease, and ophthalmic disease among others, and the augmenting demand for a faster diagnosis drive the market growth in the region.

Simultaneously, well-spread awareness among people towards the advantages of test strips and the presence of the leading global players in the region are some of the key factor substantiating the growth of the regional market. Witnessing a widening uptake across the region, the North America market for Test strip is likely to continue its dominance throughout the assessment period.

The Europe market accounts for the second-largest market for Test Strip owing to the proliferation of healthcare sector, the presence of well-established players and growing healthcare expenditures in the region. Certainly, the resurging economy is the main driving force increasing the market value in the region.

The Asia Pacific Test Strip market emerging as the fastest growing market accounts for a substantial market share on the global platform. Factors such as the proliferation of healthcare sector in populous countries such as India and China substantiate the market growth in the region.

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Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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