Test Strip Market Analysis

Global Test Strip Market Overview

The test strip market size was valued at USD 6.11 billion in 2023. The Test Strip Market industry is projected to grow from USD 6.68 Billion in 2024 to USD 11.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.13% during the forecast period (2024 - 2032). The technological advancements, rising diabetic population, and high prevalence of UTI's are driving the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

According to a report published in 2024, FUJIFILM Wako Pure Chemicals Corporation has announced the release of two brand new tests namely LumiMAT™ Pyrogen Detection Kit (LumiMAT), which is an alternative to Monocyte Activation Test (MAT)1 for In vitro2 Pyrogen Testing and PYROSTAR™ Neo+, a recombinant protein reagent used in the detection of bacterial endotoxins.

The Contour Next One blood glucose meter is now part of the diabetes patient toolkit for Virtual diabetes clinic 9am. health after partnering with Ascensia Diabetes Care in Mar 2022. In this case, type 2 diabetes patients and prediabetes sufferers who visit this clinic can integrate Ascensia's blood glucose meter and 100 to 300 test strips into their personalized treatment plans.

In August 2021, FIND (global alliance for diagnostics) signed deal with i-SENS Inc., Seoul, South Korea and SD BIOSENSOR Inc., Suwon-si, South Korea improving affordability to increase access to blood glucose test strips by low- and middle-income countries (LMIC).

Becton Dickinson received approval for its OTC rapid antigen test using the Scanwell Health Mobile App in August 2021.

USA Track & Filed (USATF) (US) and Becton Dickinson collaborated to offer rapid COVID-19 testing services for athletes through BD veritor plus system in April 2021.

Mankind Pharma's Pregnancy Test Kit Brand unveiled a novel pregnancy detection test kit, "Prega News Advance,” in March 2022. They are striving to provide more advanced methods of verifying a pregnancy.

Australian scientists developed painless blood sugar testing for diabetics, a saliva-based strip, in July 2021.

The United Kingdom drug tariff listed Roche Accu-Chek Instant at almost USD 8 or EUR 7.5 for 50 test strips in April 2021. Thus, increasing cases of diabetes and product launches by major market players introduce technologically advanced products to the market that are projected to drive the segment's growth.

Lia received approval from USFDA, for FemBeat, a flushable and biodegradable pregnancy test in March 2021 and it was released in the USA. Therefore, while diabetes prevalence increases along with urinary infection issues and incessant product introductions; this North American market is expected to see a surge over the forecast period only.

Test Strip Market Trends

• The rising diabetic population to boost the market growth

Diabetes is increasing globally and is a factor in both developing and developed countries. The growing popularity of point-of-care testing among the general public is another significant factor that fosters development. For instance, according to the International Diabetes Federation's December 2021 report, there were approximately 536 million diabetics worldwide in 2021 (aged 20 to 79), and it is predicted that there will be 786 million diabetics worldwide by the year 2045.

Furthermore, the number of diabetes tests is rising along with diabetes prevalence and incidence around the world, which is anticipated to support the segment's development over the forecast period.

Test Strip Market Segment Insights

Test Strip Product Type Insights

The test strip market segmentation, based on product type, includes urine test strip, diabetic strips, and fluorescein. The urine test strip segment is to hold the majority share in 2022 in the test strip market revenue. This is due to the increasing prevalence of urinary tract infection (UTI) and rising prevalence of kidney disorders. Furthermore, increasing number of companies manufacturing urine strips will further enhance test strips market growth.

April 2021: F. Hoffmann-La Roche Ltd (Switzerland)was launched in the United Kingdom drug tariff with a positive reimbursement price decision of EUR 7.50 for 50 test strips.

Figure 2: TEST STRIP MARKET, BY PRODUCT TYPE, 2022 & 2030 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Test Strip Application Insights

The test strip market segmentation, based on application, includes disease diagnosis and pregnancy test. The disease diagnosis segment is to hold the majority share in 2022 in the test strip market revenue. This is due to rising prevalence of kidney disorders and rising diabetic tests. Moreover, the increasing rate of diabetic condition in upcoming years lead to high demand for test strips.

Test Strip Function Insights

The test strip market segmentation, based on function, includes visual test strips and automated test strips. The automated test strips segment is to hold the majority share in 2022 in the test strip market revenue. This is due to technological advancement in test devices and rising tests across the world.

Test Strip End User Insights

The test strip market segmentation is based on end-user that includes institutes & research laboratories, hospital & clinics, and diagnostic laboratories. The hospital & clinics segment has dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. This is due to the increasing number of diagnostic tests for diabetes as well as rising number hospitals in developed as well as developing countries.

May 2019: B. Braun SE launched Sensor system Omnitest plus blood glucose monitor for measuring blood glucose in capillary blood

Test Strip Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America test strip market accounted for the largest market share in 2022. This is attributed increasing cases of diabetes and efforts taken by the national government to manage the disease at a larger level, along with rising adoption of test strips and the presence of key market players. in the region. Additionally, according to statistics updated by the Centers for Disease Control and Prevention (CDC) in January 2022, there are 37.3 million Americans, or 11.3% of the total population, who have diabetes, of whom 28.7 million have received a diagnosis, including 28.5 million adults. It is anticipated that this population will drive the demand for test strips used to diagnose diabetes, eventually fueling market expansion.

Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: TEST STRIP MARKET SHARE BY REGION, 2022 & 2030 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe test strip market is expected to account for the second-largest market share due to the prevalence of chronic illness and increasing support from the government via rising investments in hospitals’ construction with the new equipment in the region. Further, Germany Test Strip Market was attributed to hold the largest market share, and the UK Test Strip Market is estimated to be the fastest growing market in the Europe region. Furthermore, France test strip market will hold the 3rd place for the market share.

The Asia-Pacific Test Strip Market is expected is expected to grow at a significant share from 2023 to 2030. This is due to the increasing incidence of obesity in the Asia-Pacific region. Moreover, China test strip market is expected to hold the largest market share, and India test strip market is expected fastest-growing market in the Asia-Pacific region.

Furthermore, China expected to witness favorable growth of 5.1 % cross forecast year. In addition, China has maximum number of diabetic patients followed by India. Hence, rising prevalence of diabetes in these countries will fuel the growth for the test strip market.

The Rest of the World includes the Middle East, Africa, and Latin America. This the Middle East is projected to hold the least share in the test strip market. This is due to the as increase in the increasing Liver Disease and kidney disease in the region. Furthermore, Modernization of the healthcare and life science sectors and rising urethral infections among the people, and rising test which is partially fueling market expansion.

Test Strip Key Market Players & Competitive Insights

The test strip market is characterized by the presence of many global, regional, and local vendors catering to the demand created by research scientists and pharmaceutical and biotechnology companies operating in the industry. The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach across the globe with diverse product portfolios. Companies such as Abbott (US), Tiadoc (Taiwan), Acon (US), and F. Hoffmann-La Roche Ltd (Switzerland)the test strip market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in research and development. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.

One of the primary business strategies adopted by manufacturers in the test strip industry to benefit clients and expand the Test Strip Market sector is to manufacture locally to reduce operating costs.

F. Hoffmann-La Roche Ltd (Roche) is one of the leading companies in the field of diagnostics and pharmaceuticals. The company develops and markets products for diagnosis & treatment of anemia, cancer, anticoagulation therapy, cardiovascular diseases, diabetes, central nervous system, chlamydia, dermatology, gonorrhea, gout, hepatitis B and C, hemostasis disorders, HIV/AIDS, HPV, infectious diseases, and autoimmune diseases. It provides in-vitro diagnostics and drugs for cancer and transplantation. Moreover, it specializes in molecular diagnostics and medicines for oncology, virology, inflammation, metabolism, central nervous system (CNS), clinical chemistry, immunology, urinalysis, blood screening, genetics, infectious diseases, and microbiology. Genentech, in the US, is a wholly-owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For instance, in January 2022, F. Hoffmann-La Roche Ltd (Switzerland) launched the cobas pulse system, an industry first professional blood glucose management.

Also, Abbott discovers, develops, manufactures, and sells healthcare products across the globe. The company operates through four reportable segments, namely, established pharmaceutical products, diagnostic products, nutritional products, and medical devices. The established pharmaceutical products segment offers a broad range of branded and generic pharmaceutical products. This segment focuses on emerging markets, including India, Brazil, Russia, and China. The nutritional products segment sells and distributes adult & pediatric nutritional products. The diagnostic products segment offers diagnostic tests and instruments for blood banks, hospitals, and commercial laboratories. The medical devices segment offers devices for various treatments, including cardiac arrhythmias & heart failure, vascular, neuromodulation, structural heart, and diabetes care.

Key Companies in the Test Strip Market include

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  Abbott (US)

  
  


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  Tiadoc (Taiwan)

  
  


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  Acon (US)

  
  


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  B. Braun SE (Germany)

  
  


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  F. Hoffmann-La Roche Ltd (Switzerland)

  
  


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  Bayer (Germany)

  
  


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  Arkray (Japan)

  
  


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  Ascensia (US)

  
  


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  Hologic (US)

  
  


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  Life Scan (US)

  
  

Test Strip Industry Developments

April 2020: Hologic (US) launched Its Second High-Throughput Molecular Assay for the Novel Coronavirus (SARS-CoV-2).

September 2019: Life Scan (US)Launchds OneTouch Amazon Storefront, Offers Consumers Access to Authentic OneTouch Diabetes Testing Supplies.

Test Strip Market Segmentation

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  Urine Test Strip

  
  


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  Diabetic Strips

  
  


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  Fluorescein

  
  

Test Strip Application Outlook

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  Disease Diagnosis

  
  
  
  
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    Urinalysis

    
    
    
    
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      Urinary Tract Infection (UTI)

      
      
    
    
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      Liver Disease

      
      
    
    
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      Kidney Disease

      
      
    
    
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      Diabetic Test

      
      
    
    
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      Others

      
      
    
    
    
    
  
  
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    Blood Glucose Analysis

    
    
  
  
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    Ophthalmic Diagnosis

    
    
  
  
  
  


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  Pregnancy Test

  
  

Test Strip Function Outlook

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  Visual Test Strips

  
  


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  Automated Test Strips

  
  

Test Strip End User Outlook

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  Institutes & Research Laboratories

  
  


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  Hospital & Clinics

  
  


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  Diagnostic Laboratories

  
  

Test Strip Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America