Published Date: 2021-03-22
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European Test Strips Market size is estimated to surpass USD 2.5 billion by 2027, according to a latest forecast report by Graphical Research.
The European market growth is owing to increasing prevalence of diabetes across the region as well as technological advancement. For instance, advancements in test strips are growing and are under development. The advanced test strips offer the user with the ability to reapply blood when the test strip is underfilled and provide more accurate and reliable test results. Such advancements will attract more customers to opt for test strips to monitor glucose level regularly.
Growing prevalence of chronic diseases such as diabetes and UTI are one of the major rendering factors for Europe test strips industry growth. For instance, according to the World Health Organization (WHO), there are approximately 60 million individuals with diabetes in the European Region or about 10.3% of men and 9.6% of women aged 25 years and over. Thus, significant increase in number of individuals suffering from diabetes will lead to high demand for test strips.
The urine test strips segment accounted for USD 96.4 million of market revenue in 2020 due to increasing prevalence of kidney diseases and urinary tract infection. For instance, according to the European Association of Urology, up to 31% of sepsis cases start as urinary tract infection, leading to as many as 1.6 million deaths. Thus, individuals will opt for test strips for early detection and high mortality rates will increase the product demand. Furthermore, increasing number of companies manufacturing urine test strips will further boost the regional market growth.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1716/europe-test-strips-market
The homecare segment held more than USD 1.1 billion revenue in 2020 and is expected to show a significant CAGR of 3.9% between 2021 and 2027. High growth rate is owing to rising preference of people for point of care testing devices including test strips at homecare use. Also, diabetic population follows a particular treatment regimen that might demand multiple tests in a day. Thus, it is more convenient for the individuals to adopt point for care testing products for regular check-ups.
UK test strips market size is poised to reach USD 446.3 million by 2027. Rising geriatric population in the country with the high incidence rate of diabetes is key factor that is contributing to the market revenue. For instance, according to the British Diabetic Association report, more than 3.8 million individuals have been diagnosed with diabetes in UK in 2018. Furthermore, usage of test strips at homecare settings is also bound to increase due to increasing diabetic population.
Major market players are Abbott Laboratories, Roche Diabetes Care, Abbott, Lifescan, B Braun, Siemens Healthineers, Arkray, Henry Schein and Tiadoc among others. These industry players focusing on various business strategies such as collaboration, geographic expansion to strengthen their market position.
The European test strips market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Market, By Product, 2016-2027 (USD Million)
Europe Market, By End-Use, 2016-2027 (USD Million)
The above information has been provided for the following countries:
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