Diabetes is one of the major concerns for the government bodies 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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In terms of volume, the blood glucose test strip market is expected to reach 27.6 billion by 2020. Due to the disposable nature of the test strips for every self blood glucose test, new test strip is required. Furthermore, the rising awareness diabetes and the need for regularly monitoring the disease is also aiding the market growth. Moreover, the convenience offered by the self blood glucose monitoring is also a major reason for the growing demand of blood glucose monitors and test strips in the market.
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