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Asia Pacific 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: GR1718 | Delivery : PDF  Request Free Sample

Asia Pacific Test Strips Market size crossed USD 1 billion in 2020 and is expected to witness over 4.2% CAGR from 2021 to 2027.

Test strips are composed of several layers that include top layer, middle layer and bottom layer. The top layer comprises mini-sponge to soak up the blood sample. The middle layer work as a filter to channel the blood sample to the reaction center. The bottom layer contains gold and palladium-coated circuit that transfers the reaction electrons to the meter for analysis. These layers identify the glucose level in blood and help patients to monitor their diabetes.

Asia Pacific Test Strips Market

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Growing prevalence of chronic diseases such as diabetes and kidney related disease across the APAC test strips industry growth. For instance, according to the World Health Organization, about 227.0 million people live with type 2 diabetes in Asia pacific region. Among those cases, nearly half of them are undiagnosed and unaware of developing long-term complications.

Furthermore, increasing number of geriatric populations in countries such as China and India will boost the market growth. Geriatric population is prone to kidney disorders as well as urinary tract infection that will boost the adoption rate. For instance, according to the Kidney Health Australia report 2018, around 1 in 2 women and 1 in 20 men are likely to suffer from a urinary tract infection (UTI) in their lifetime.

APAC Market, By Product

The diabetes test strips segment accounted for USD 964 million revenue in 2020 and is predicted to show significant growth of 4.2% between 2021 and 2027. Diabetes test strips are further classified into thick film test strips and think film test strips. The thick film electrochemical blood glucose test strips are composed of several layers including the separating layer, support layer and analytical layer. Each strip contains printed working and reference electrodes that are coated with reagents and membranes. These strips enable rapid results of blood glucose level, boosting the market demand.

APAC Market, By End-use

The home care segment held more than 59% market share in 2020 due to rising awareness among the population regarding several point of care testing methods. Also, increasing number of people opting for test strips from online portals is growth another rendering factor. Furthermore, patients with diabetes need regular monitoring of their glucose levels. Therefore, people use test strips for personal use at their home care setting.

APAC Market, By Country

China test strips market size was over 186.2 million in 2020. China has the maximum number of diabetic patients in the world followed by India. For instance, according to the International Diabetes Foundation, an estimated of 116 million individuals aged from 20 to 79 years in China had diabetes in 2019. The number is by far the highest among any other country. Thus, rising prevalence of diabetes in the country will boost product demand as well as adoption rate, thereby propelling the market growth. Furthermore, increasing habit of alcohol intake coupled with lack of physical activities leads to sedentary lifestyle will further fuel diabetes prevalence.

Competitive Industry Landscape

The key industry players include Abbott Laboratories, Roche Diabetes Care, Lifescan, B Braun, Siemens Healthineers, Arkray, Henry Schein and Tiadoc among others.

Companies undertake various strategies such as mergers, collaborations, new product launch, acquisitions, geographic expansions to strengthen their market share. For instance, in January 2020, Roche Diabetes Care India launched its new Accu-Chek Guide blood glucose monitoring system with new Accu-Chek Guide SmartPack test strip in India. The product offers unique features and is designed with an intuitive user interface for ease of use. This strategy enabled company to enhance their business opportunity in Indian market.
 

Frequently Asked Question(FAQ) :

The industry for test strips in Asia Pacific was more than USD 1 billion in 2020 and will surpass 4.2% CAGR over the projected timeframe 2021-2027.
The market for diabetes test strips in Asia Pacific had reached USD 964 million during 2020 and will expand at around 4.2% CAGR up to 2027.
The home care segment accounted for more than 59% of APAC industry share in 2020 and will grow with a higher awareness about numerous point of care testing options.
China industry share was pegged at more than USD 186.2 million in 2020 and will expand due to being home to the highest number of diabetic patients globally.

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