July 07, 2021
According to the research literature titled, ‘North America Test Strips Market Size By End-use, By Product, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027’, available with Market Study Report, North America test strips market is projected to surpass USD 6.7 billion by the end of the forecast period 2021-2027.
Rising prevalence of chronic conditions such as diabetes and kidney ailments is catalyzing North America test strips market growth. In fact, the American Diabetes Association (ADA) claims that in 2018, over 10.5% or 34.2 million Americans were diagnosed with diabetes.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3736363/
Moreover, expanding geriatric population, growing preference for point of care testing, and heightened risk of acquiring blood sugar related diseases due to sedentary lifestyles are adding substantial traction to market progression. Besides, accelerated use of test strips due to the Covid-19 pandemic has enhanced the industry remuneration.
On the contrary, lack of reimbursement, and poor accuracy in results are likely to negatively impact the demand for test strips over the forecast period, claims the study.
Based on end-user, North America test strips market is fragmented into hospitals, diagnostic laboratories, homecare, and others. Among these, hospitals segment is touted to cross USD 2.1 billion by 2027. Increase of number of new large and small hospitals along with surging number of hospitals admissions, especially during the Covid-19 pandemic, has accelerated the segmental expansion.
In terms of product type, the market is bifurcated into diabetes test strips (thin film, thick film) and urine test strips, among which, the latter segment is gaining immense traction. Surging cases of urinary tract infections among females, especially since the outbreak of Covid-19 pandemic, is bolstering the demand for urine test strips in North America.
On the geographical front, U.S. and Canada are the key contributors to North America test strips industry remuneration. Expert analysts claim that U.S. market is touted capture significant industry share in the forthcoming years, largely due of increased pervasiveness of diabetes and other chronic conditions in the nation.
Taidoc Technology Corp., Siemens Healthineers AG, Roche Diabetes Care GmbH, LifeScan Inc., Henry Schein Inc., B Braun Melsungen AG, Arkay Inc., Ascensia Diabetes Care Holdings AG, Acon Labs Inc., and Abbott Laboratories are the prominent players in the North America.