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Test strip are the most important tools in Point of Care (POC) diagnostics. They helpto achieveprecise and rapid diagnosis of various critical diseases such as urinary tract infection (UTI), liver disease, kidney diseases, diabetes test, ophthalmic disease and others. The Test Strip market is expected to grow at higher growth rate due to Government's Support in various healthcare sectors, High prevalence of incidences of UTIs, Rising Diabetic Population, and various Technological advancements are the major growth drivers of test strip market. However, stringent regulatory policies, Lower adoption of this technology in under developed countries such as Latin American and African Countries, and inadequate reimbursement for test strips may restrict the growth of this market.
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The test strips are based on various technologies such as electrochemical and photometric. Majority of the test strips are based on electrochemical technology. The photometric technology market is expected to witness the highest growth. Roche Diagnostics, Lifescan, Inc., Abbott Laboratories, and Bayer are the leading players in the test strip market, by volume. These players possess state of art manufacturing facilities and strong sales and distribution network which have helped them to gain leadership position in the market.The other prominent players include Arkray Inc., Ascensia Diabetes Care Holdings Ag, B. Braun Melsungen AG, Chiltern Medicare Ltd, Henry Schein, Lifeassay Diagnostics (Pty), Siemens Healthcare, Taidoc Technology Corporation, and Teco Diagnostics.
Based on the product type the test strip market by type is divided into urine test strip, diabetic strips, and fluorescein. Diabetic strips segment is expected to grow at high growth rate due to rising government bodies concerns for diabetes across the globe. There is an incessant rise in the number of diabetic people worldwide. According to International Diabetic Federation, there were 415 million people living with diabetes in 2015, and this number is poised to reach 642million by 2040.
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