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Europe Test Strips Market Size By End-use (Hospital, Home Care, Diagnostic Laboratories), By Product (Diabetes Test Strips {Thick Film, Thin Film}, Urine Test Strips), Research Report, Country Outlook (Japan, China, India, Australia, New Zealand, Indonesia, South Korea, Singapore, Malaysia, Thailand, Vietnam), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027
Published Date: March 2021 | Publisher: Graphical Research Report ID: GR1716 | Delivery : PDF  Request Free Sample

Europe Test Strips Market size exceeded USD 2 billion in 2020 and is predicted to register a growth of over 3.7% from 2021 to 2027.

Test strips are thin paper or plastic strips that help to monitor the blood glucose levels and control diabetes symptoms. They are made up of fabric material immersed with sensors, enzymes and electrodes. Also, test strips are used to monitor blood glucose level, and for managing wide range of medical disorders such as urinary tract infection (UTI) and kidney disease.

Europe Test Strips Market Size, 2021 & 2027 (USD Mn)

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Adoption of unhealthy and sedentary lifestyle is one of the key factors for growing prevalence of diabetes in Europe region. For instance, according to the World health Organization (WHO), 6 in every 10 individuals above 15 years of age never play a sport, and more than half never engaged in other kind of physical activity across the European region. Therefore, the loss of physical activity is considered as one of the prime factors for diabetes. Thus, these conditions may result to diabetic condition. This will increase the demand for test strips for self-monitoring.

Additionally, rising geriatric population is prone to various chronic diseases such as urinary tract infection (UTI) and diabetes. For instance, as per the Europe Statistics, more than one fifth (20.3%) of the European Union population was aged 65 and above in 2019. Such rising geriatric population in the region involves patients with diabetes and UTI. However, lack of reimbursement policies for test strips may hamper the industry growth.

European Market, By Product

The diabetes test strips segment revenue was around USD 1.9 billion in 2020. Diabetes prevalence is steadily increasing across the European region and monitoring blood glucose levels regularly with test strips is vital for efficient diabetes management. Also, people with diabetes (Type-1 and Type-2) can have improved lives by carefully regulating their blood glucose levels. For instance, according to the Europe PMC Journal, the test strip user grew by more than 5% in 2019 from the number of users in 2017.

European Market, By End-use

Hospital segment held the market share of 31.5% in 2020. Availability of quality of care and skilled healthcare professionals will foster the segment growth. Also, hypoglycemia and hyperglycemia in the ICU patients is associated with increased morbidity and mortality. Therefore, timely and accurate glucose measurement is essential to achieve safe and optimal glucose control in the ICU patients.

European Market, By Country

Germany test strips market is estimated to expand at over 3.6% CAGR till 2027. Germany is recognized as one of the highly populated countries with diabetes. Also, the prevalence rate of diabetes is expected to grow more in the forthcoming years owing to the adoption of sedentary lifestyle.

Furthermore, affordable cost of diabetes test strips coupled with growing number of firms operating in the market are few of the major factors influencing Europe test strips business growth. In addition, convenience of regular glucose monitoring over traditional monitoring along with early detection of hyper and hypoglycemic patients are the other few major drivers for the market expansion.

Competitive Industry Landscape

Major market players are Abbott Laboratories, Roche Diabetes Care, Abbott, Lifescan, B Braun, Siemens Healthineers, Arkray, Henry Schein and Taidoc among others.

These companies undertake various strategies such as mergers, collaborations, new product launch, geographic expansions to strengthen their market position. For instance, in August 2020, TestCard announced the launch of its non-invasive at-home urinary tract infection test kit in UK. Users can detect a UTI through immediate testing results. This strategy is expected to enhance their business opportunities in untapped economies.
 

Frequently Asked Question(FAQ) :

The industry for test strips in Europe was more than USD 2 billion in 2020 and will exceed 3.7% CAGR over 2021-2027 due to consistent rise in diabetic population in the region.
The industry for diabetes test strips in Europe had reached USD 1.9 billion during 2020 and will expand up to 2027 with increased demand for testing blood glucose levels and diabetes management.
The hospital end-use segment accounted for more than 31.5% of Europe industry share in 2020 and will grow with better access to skilled medical professionals and healthcare consultancy.
Germany industry share is expected to witness more than 3.6% CAGR up to 2027, since the country has one the leading diabetic populations in Europe.

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