Press release
Blood Glucose Test Strip Packaging Market on the Rise Due to Growing Diabetes Prevalence
Blood Glucose Test Strip Packaging Market
Blood glucose test strips are vital for diabetes management, allowing individuals to monitor their blood sugar levels accurately. The World Health Organization (WHO) has noted that the number of people with diabetes has skyrocketed from 108 million in 1980 to 422 million in 2014. This rapid increase underscores the growing demand for blood glucose monitoring supplies, including test strips and their packaging. To meet this need, companies are innovating their packaging designs to cater to a diverse and expanding user base.
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Key Drivers of Market Growth
Rising Number of Diabetes Patients: The increase in diabetes cases globally is leading to greater usage of blood glucose test strips. The IDF's projections indicate that by 2045, the number of diabetes patients will increase significantly, which is expected to boost sales of these essential monitoring tools.
Increased Awareness for At-Home Diabetes Testing: Public awareness of the importance of at-home diabetes testing is growing. Governments worldwide are promoting awareness campaigns to encourage regular check-ups. For example, the WHO launched the Global Diabetes Compact in April 2021 to reduce diabetes risks and improve access to quality treatment.
Rising Demand from Geriatric Population: The aging population is another key factor driving market growth. According to WHO, by 2050, 80% of older adults will live in low- and middle-income countries, where they face a higher risk of diabetes complications, further increasing the demand for test strips.
Need for Convenient At-Home Testing Solutions: The shift towards at-home diabetes testing is also influencing market dynamics. The U.S. Food and Drug Administration (FDA) has approved several at-home blood glucose meters and continuous glucose monitoring systems, making it easier for individuals to manage their health.
Market Challenges
Despite the promising growth, the market faces certain challenges. Lack of awareness about diabetes treatment in developing countries poses a significant barrier, as many regions lack adequate resources to address this health crisis. Furthermore, the packaging market relies heavily on regulatory approvals, such as the U.S. FDA's ISO 15197:2013 standard for blood glucose testing accuracy.
Another obstacle is the limited insurance coverage for blood glucose testing strips in some countries, which can create a financial burden for patients, potentially restricting market growth.
Segment Insights
Blood Glucose Test Strip Packaging Types: The market is segmented into three main types: blister packs, high barrier pouches, and vials. The blister packs segment currently holds the largest market share due to their protective nature, shielding test strips from moisture and air, which helps extend their shelf life.
The high barrier pouches segment is also expected to grow moderately as they effectively preserve the quality of the test strips by preventing exposure to oxygen and moisture.
Technology Dynamics: The market is divided into two main technologies: glucose dehydrogenase and Glucose Oxidase (GOx). The glucose dehydrogenase segment is anticipated to dominate the market due to its ability to enhance the accuracy of glucose measurements, catering to the increasing demand for reliable blood glucose testing. Conversely, the GOx segment is expected to experience steady growth, valued for its rapid action and high specificity.
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Blood Glucose Test Strip Packaging Top Companies and Competitive Landscape
The blood glucose test strip packaging market is fragmented, with several key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new blood glucose test strip packaging products and solutions.
Some major players included in the global blood glucose test strip packaging market report are:
Abbott
Hoffmann-La Roche Ltd.
LifeScan IP Holdings, LLC
i-SENS, Inc.
Trividia Health, Inc.
Ascensia Diabetes Care Holdings AG
AgaMatrix
TaiDoc Technology Corporation
Universal Biosensors
ACON Laboratories, Inc.
All Medicus Co., Ltd.
National Diagnostics
HMD
Braun SE
ARKRAY, Inc.
Medtronic plc
ForaCare Inc.
Nipro Diagnostics, Inc.
Johnson & Johnson
Blood Glucose Test Strip Packaging Latest Industry Updates
On 21 February 2023, Oliver Healthcare Packaging announced the construction of a new manufacturing facility in southern state of Johor in Malaysia. The manufacturing plant will produce pouches, lids, CleanCut cards, and roll stock to support increasing need for medical device and pharmaceutical customers in the region.
On 17 February 2023, Volpak launched Enflex stick-pack tech. The machine will increase production for medical packaging. Under certain performance conditions, the series can create 1,800 stick-packs each minute. It claims to minimize material wrapping utilization by 42% in comparison to competing units on the market and provide customers with a way to save on energy expenditures with its servomotor-based energy recovery technology.
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Blood Glucose Test Strip Packaging Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global blood glucose test strip packaging market on the basis of type, technology, distribution channel, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2032)
Blister Packs
High Barrier Pouches
Vials
Technology Outlook (Revenue, USD Billion; 2019-2032)
Glucose Dehydrogenase
Glucose Oxidase
Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
Online
Offline
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Individuals
Hospitals and Clinics
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of Middle East & Africa
Market Trends and Projections: A Forward-Looking Analysis
Blood Glucose Test Strip Packaging Market Size @ https://www.emergenresearch.com/industry-report/blood-glucose-test-strip-packaging-market/market-size
Blood Glucose Test Strip Packaging Market Share @ https://www.emergenresearch.com/industry-report/blood-glucose-test-strip-packaging-market/market-share
Blood Glucose Test Strip Packaging Market Trends @ https://www.emergenresearch.com/industry-report/blood-glucose-test-strip-packaging-market/market-trends
Blood Glucose Test Strip Packaging Regional Market Demand @ https://www.emergenresearch.com/industry-report/blood-glucose-test-strip-packaging-market/regional-market-demand
Blood Glucose Test Strip Packaging Market Analysis @ https://www.emergenresearch.com/industry-report/blood-glucose-test-strip-packaging-market/market-analysis
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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