Blood Glucose Test Strip Packaging Market Size, Share & Trends Analysis Report By Type (Thick Film Electrochemical Films, Thin Film Electrochemical Films, Optical Strips),  By End-User (Hospitals, Home Care, Diagnostic Laboratories) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global blood glucose test strip packaging market size 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).

The blood glucose test strip packaging focuses on creating packaging solutions specifically designed for blood glucose test strips, which are essential for individuals with diabetes to monitor their blood glucose levels. These packaging solutions are diverse in formats and materials, all aimed at preserving the quality and usability of the test strips. They protect against moisture, light, and oxygen to ensure accurate and reliable test results. The market involves collaboration among key industry players to develop packaging that is user-friendly, compliant with regulations, and meets the specific needs of individuals with diabetes. The market is prominent in regions with a high prevalence of diabetes and well-developed healthcare systems. Overall, the blood glucose test strip packaging market serves the increasing demand for reliable packaging solutions in diabetic care.

Highlights

• Thick Film Electrochemical dominates the type segment
• Hospitals dominate the end-user segment
• North America is the highest shareholder in the global market

Market Dynamics

Global Blood Glucose Test Strip Packaging Market Drivers:

Increasing Prevalence of Diabetes

The global market is strongly driven by the surging global prevalence of diabetes, a chronic condition that has reached alarming levels worldwide. As more people are diagnosed with diabetes, there is a corresponding growth in the need for blood glucose test strips, which are essential for monitoring blood glucose levels in diabetic people. This rising demand underscores the need for packaging solutions that are especially intended to safeguard and maintain the integrity of the test strips. In addition, packaging is critical in safeguarding the test strips from environmental factors like moisture, light, and oxygen, which can compromise their accuracy and effectiveness. By providing secure packaging, the market ensures that the test strips maintain their integrity and deliver reliable results throughout their lifespan.

Rising Demand for User-Friendly Packaging Designs

It is crucial to consider the user's comfort and ease of use when designing blood glucose test strips packaging. The main goal is to devise ways to package the test strips to make them as easy to use as possible. In order to facilitate rapid access to the test strips, tear strips are frequently incorporated into the packaging design. In addition, clear labels are very important because they tell people how to use the test strips properly in a way that is clear and easy to understand. This makes sure that people can follow the steps without getting confused.

Tamper-evident seals are also used to give people confidence in the safety and reliability of the product and to show that the test strips have not been changed. By emphasizing easy-to-use package features, companies hope to make it easier for people to use blood glucose test strips and improve the user experience. People prefer packing options that satisfy these needs because they strongly emphasize utility and usability, driving the global market.

Global Blood Glucose Test Strip Packaging Market Restraint:

Stringent Regulatory Compliance

Working in a strictly controlled environment is necessary when packaging blood glucose test strips. Producers of medical products must adhere to stringent legal regulations prioritizing safety, quality, and efficacy in packaging. Continued investment in research and development is crucial for addressing these requirements. Manufacturers must continuously update their knowledge of current industry standards and best methods to ensure compliance with evolving laws.

The performance and dependability of the packing solutions are shown through rigorous testing and certification methods. Makers must also keep a close eye on any changes to the rules and quickly change the shapes and materials of their packages to match. These steps are very important to ensure the package protects the purity of the blood glucose test strips throughout their entire lifespan.

Global Blood Glucose Test Strip Packaging Market Opportunities:

Rising E-commerce and Online Retailing

The surge in e-commerce and online retailing is creating promising opportunities in the blood glucose test strip packaging market. With the increasing preference for online shopping, manufacturers and suppliers of blood glucose test strip packaging can capitalize on this trend to expand their customer base and streamline the distribution process. Online platforms offer a convenient and easily accessible channel for individuals to purchase the necessary packaging solutions for blood glucose test strips from the comfort of their homes.

Moreover, the direct communication enabled by e-commerce allows manufacturers to gather valuable insights and customer feedback, facilitating continuous improvement and enhancement of their packaging offerings. By embracing the digital marketplace, companies can tap into the growing demand for online purchasing, extend their market reach, and establish a strong online presence.

Regional Analysis

Based on region, the global blood glucose test strip packaging market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant global blood glucose test strip packaging market shareholder and is expected to grow significantly during the forecast period. The North American region is expected to emerge as the dominant player in the market, supported by various growth factors. One crucial factor is the availability of healthcare reimbursements, which incentivizes the adoption of blood glucose test strips and their associated packaging solutions. These reimbursements ease the financial burden on patients and increase the affordability and accessibility of these necessary products. Moreover, North America is recognized for its rapid acceptance of new medical technologies. This inclination towards embracing innovation in the healthcare sector extends to the blood glucose test strip packaging market, driving market growth by integrating advanced packaging technologies and designs. The combination of healthcare reimbursements and the region's receptiveness to cutting-edge medical advancements positions North America as a dominant force in the market, facilitating its expansion and progress.

Europe has the second-largest market share, driven by various factors contributing to its growth. Europe is a major player in the blood glucose test strip packaging market because of these factors, with Germany and the UK at the forefront regarding market size and growth. One of the key drivers is the increasing adoption of flexible packaging solutions, which provide versatility, convenience, and enhanced protection for blood glucose test strips. This has prompted key players in the market to develop and introduce innovative packaging solutions, stimulating market growth. Ongoing research and development efforts and new product launches have also significantly driven market expansion in Europe. These endeavors focus on enhancing the performance, functionality, and user-friendliness of blood glucose test strip packaging. In addition, Germany has the largest market share in Europe due to its strong healthcare system and high incidence of diabetes. Followed by Germany, the UK has emerged as the market in this region with the quickest growth rate, thanks to greater awareness, encouraging government programs, and an increase in the number of people with diabetes.

The Asia-Pacific region has witnessed the most rapid growth in the blood glucose test strip packaging market compared to other regions. The surge in population can be attributed to various factors, but a significant contributor is the escalating prevalence of diabetes among the local populace. The burgeoning populations of diabetes patients in India and China are propelling the demand for blood glucose test strips and their accompanying packaging solutions. The area is dominated by China, which boasts the largest market share. This can be attributed to a strong healthcare system and a sizable population suffering from diabetes.

In contrast, India boasts the swiftest expansion within the Asia-Pacific market. The reason for this phenomenon lies in the increasing awareness about diabetes management, improved accessibility to healthcare services, and the surging number of individuals diagnosed with diabetes. The Asia-Pacific region presents a promising blood glucose test strip packaging market considering the prevailing factors. China and India, in particular, are at the forefront of this trend, boasting significant market size and growth potential.

Latin America and the Middle East and Africa present promising prospects in the blood glucose test strip packaging market. In Latin America, the market is driven by rising diabetes incidence, improving healthcare infrastructure, and increased diabetes management awareness. Brazil and Mexico are the key contributors to this region's market growth. Similarly, the Middle East and Africa market is driven by an increasing diabetic population, improved healthcare facilities, and strong government activities to address diabetes-related healthcare requirements.

The United Arab Emirates and South Africa are important markets in this area. While access to and price of healthcare remains an issue in these countries, significant efforts are being undertaken to bridge the gap and increase the availability of blood glucose test strip packaging options. Overall, the region offers significant opportunities for the blood glucose test strip packaging market, fueled by increasing awareness and a growing emphasis on diabetes management.

Segmental Analysis

The global blood glucose test strip packaging market is bifurcated into type and end-user.

Based on the type, the global 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. The thick film electrochemical film segment has emerged as the dominant player in the blood glucose test strip packaging market, primarily due to its exceptional characteristics. These strips are purposefully designed to handle larger blood samples, catering to the needs of patients with specific testing requirements. In addition, the ability to accommodate larger samples ensures a more precise and dependable measurement of blood glucose levels. This feature proves highly advantageous for individuals with varying blood volume or specific medical conditions, providing accurate results. The thick film electrochemical film strips have consistently showcased remarkable accuracy and reliability, solidifying their position as the preferred choice among consumers in the market.

Based on the end-user, the global 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. The hospital segment has emerged as the dominant segment, largely driven by bulk purchases facilitated through buying groups. Test strips have become essential devices in hospital and ambulatory settings, especially during the COVID-19 pandemic, for detecting hyperglycemia, hypoglycemia, and glycemic variabilities. As per the Centers for Disease Control and Prevention), 7.8 million hospital discharges with diabetes as the primary diagnosis in 2022. Utilizing these test strips in hospitals highlights their critical role in monitoring and managing blood glucose levels, contributing to effective patient care.

Recent Developments

• 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.

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