Europe Blood Glucose Test Strips Market

Europe Blood Glucose Test Strips Market Size (2022 to 2027)

The European blood glucose test strips market is anticipated to be valued at USD 5.42 billion by 2027 from USD 4.22 billion in 2022, growing at a CAGR of 5.16% from 2022 to 2027.

The increasing incidence of diabetes among the European population propels the European blood glucose test strips market growth. An estimated 61 million adults in Europe lived with diabetes in 2021, according to the International Diabetes Federation (IDF). Genetic disorders, and lifestyle changes, such as increasing consumption of sugary foods and junk food and increasing consumption of alcohol and others, are some of the significant factors that contribute to the diagnosis of diabetes in a person. Therefore, the usage of blood glucose test strips is increasing owing to the rise in the patient count who has diabetes. In recent years, the incidence of diabetes has been noticed in all age groups. It led to the growing usage of diabetic-related devices, which require these glucose test strips to conduct the tests and produce results leading to market growth.

The growing aging population across Europe is anticipated to contribute to the Europe blood glucose test strips market growth. Around 20 million aged people have been diagnosed with diabetes between the age group of 60-79 in the European region, and the diseased population count is growing consistently. People aged require a regular check of the glucose levels in their bodies to avoid risky situations in their daily life. An increase in diabetes also leads to various chronic diseases, such as cardiovascular diseases and chronic wounds. Therefore, the usage of blood glucose test strips by older people has increased in recent days.

The rising adoption of technological advancements in manufacturing blood glucose test strips and a growing number of product launches contribute to regional market growth. The key market participants of this region are continuous efforts in R&D to manufacture advanced test strips that give more accurate results regarding blood glucose levels. In addition, the European government has taken several measures to approve new strips, which must meet all the regulations by the government, which helps improve patients' quality of health.

However, low awareness levels among the European population regarding blood glucose monitoring devices and a lack of favorable reimbursement policies are anticipated to hamper the growth rate of the European market during the forecast period. In addition, errors in self-monitoring strips are another reason that hampers the market growth. These strips require a small quantity of blood to produce the results on the blood glucose monitoring devices, which can be slightly painful, leading to reluctance toward the product.

This research report on the Europe blood glucose test strips market has been segmented and sub-segmented into the following categories.

By Technology:

• Glucose Dehydrogenase (GDH)
• Glucose Oxidase (GOD)

By Application:

• Type 1 Diabetes
• Type 2 Diabetes
• Gestational Diabetes
• Pre-Diabetes

By End-user:

• Individuals
• Hospitals & Clinics
• Others

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The European region accounted for a substantial share of the worldwide market in 2021 and is estimated to grow at a healthy CAGR during the forecast period owing to the increasing healthcare expenditure and focus on self-health. In addition, the rising awareness programs by the government to make people aware of the occurrence of diabetes and the prevention process by taking regular glucose level tests with blood glucose monitoring devices are supporting the market growth in the European region.

The German market captured a considerable share of the European market in 2021. The increasing number of people with type-2 diabetes in Germany is one of the key factors driving the market. In addition, increasing research institutions for the research and development of test strips on a low budget and producing more strips without any disturbance by the economic crisis are propelling the market growth in Germany.

On the other hand, the UK blood glucose test strips market is anticipated to showcase the fastest CAGR during the forecast period. In the United Kingdom, blood glucose test strips are free or prescription-based, offline and online. In this region, type-1 diabetes people should have access to test strips to monitor the glucose levels in their blood to take care of themselves at regular intervals.

KEY MARKET PLAYERS:

Abbott Laboratories, F. Hoffmann-La Roche Ltd., Agamatrix, Ascensia Diabetes Care Holdings AG, LifeScan, Inc., ARKRAY, Inc., Medtronic plc, Bionime Corporation, Care Touch LLC, and DarioHealth Corporation are some of the noteworthy companies in the European blood glucose test strips market.