Global Blood Glucose Test Strip Packaging Market Worth USD 3,387.72 Billion By 2031 | CAGR of 6.7%

Introduction

The packaging for blood glucose test strips is tailored to meet the requirements of people with diabetes who rely on these strips to monitor their blood glucose levels. The packaging solutions encompass a wide range of formats and materials, with the primary objective of maintaining the quality and usability of the test strips. In order to guarantee precise and dependable test outcomes, protective measures are implemented to safeguard against the detrimental effects of moisture, light, and oxygen. The market necessitates the cooperation of key industry stakeholders to create user-friendly packaging that adheres to regulatory requirements and caters to the unique requirements of individuals with diabetes.

Market Dynamics

Increasing Prevalence of Diabetes Drives the Global Market

The global Blood Glucose lancets market is significantly influenced by the escalating global prevalence of diabetes, a chronic ailment that has attained concerning proportions on a global scale. The growing prevalence of diabetes has led to a commensurate rise in demand for blood glucose test strips, a critical component for monitoring blood glucose levels in individuals with diabetes. The increasing demand highlights the necessity for packaging solutions specifically designed to preserve the integrity of the test strips. The packaging of test strips also plays a crucial role in protecting them against various environmental factors, such as moisture, light, and oxygen, that have the potential to undermine their precision and efficacy.

Rising E-commerce and Online Retailing Creates Tremendous Opportunities

The exponential growth of electronic commerce and the emergence of online retail platforms have generated favourable prospects within the blood glucose test strip packaging industry. The growing inclination towards online shopping presents an opportunity for manufacturers and suppliers of blood glucose test strip packaging to leverage this trend to broaden their customer base and optimize the distribution process. Online platforms provide a convenient and readily accessible avenue for individuals to procure the requisite packaging solutions for blood glucose test strips from the convenience of their residences.

Regional Analysis

North America is the most significant global blood glucose test strip packaging market shareholder and is expected to grow significantly during the forecast period. Several growth factors are expected to help the North American region become the dominant force in the market. One important element is the availability of healthcare reimbursements, which encourages the use of blood glucose test strips and the packaging solutions that go with them. By reducing patients' financial burden, these reimbursements also make these essential products more affordable and accessible.

Additionally, North America is renowned for embracing new medical technologies quickly. This propensity to welcome innovation in the healthcare industry extends to the blood glucose test strip packaging market, which is growing thanks to the incorporation of cutting-edge packaging technologies and designs. North America is a dominant force in the market, enabling its growth and advancement, thanks to healthcare reimbursements and the area's openness to cutting-edge medical innovations.

Key Highlights

• The global blood glucose test strip packaging market was valued at USD 2,113.02 million in 2022. It is estimated to reach USD 3,387.72 million by 2031, growing at a CAGR of 6.7% during the forecast period (2023–2031).
• Based on the type, the global blood glucose test strip packaging market is divided into thick film electrochemical films, thin film electrochemical films, and optical strips. The thick film electrochemical films segment is the highest contributor to the market share and is expected to grow significantly during the forecast period.
• Based on the end-user, the global blood glucose test strip packaging market is divided into hospitals, home care, and diagnostic laboratories. The hospital segment owns the largest market share and is predicted to grow significantly over the forecast period.
• North America is the most significant global blood glucose test strip packaging market shareholder and is expected to grow significantly during the forecast period.

Competitive Players

Competitive Players

The key players in the global blood glucose test strip packaging market are Elektronika Sales Pvt Ltd., LifeScan IP Holdings, LLC, Terumo Corporation, Nipro, Ascensia Diabetes Care Holdings AG, AgaMatrix, GlaxoSmithKline plc., Abbott, i-SENS, Inc., F. Hoffmann-La Roche Ltd.

Recent Developments

Market News

• In April 2023, Terumo Aortic launched the North American implant of a novel custom-made hybrid device, Thoracoflo, used to treat patients with thoracoabdominal aortic disease using a less invasive surgical technique than traditional open surgical repair.

• In October 2021, LifeScan launched OneTouch Solutions, a holistic digital health offering linking people with diabetes to solutions and support.

Segmentation

Global Blood Glucose Test Strip Packaging Market: Segmentation

By Type

• Thick Film Electrochemical Films
• Thin Film Electrochemical Films
• Optical Strips

 By End-User

• Hospitals
• Home Care
• Diagnostic Laboratories

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA