Saudi Arabia Blood Glucose Test Strip Market – Industry Trends and Forecast to 2031

Saudi Arabia Blood Glucose Test Strip Market Analysis and Insights

The driving factors which is responsible for the growth of the Saudi Arabia blood glucose test strip market are the escalating prevalence of diabetes and increasing prevalence of risk factors such as inactive lifestyles, unhealthy dietary habits, obesity, and aging populations contributes to the growing number of individuals diagnosed with diabetes.

Data Bridge Market Research analyses that the Saudi Arabia blood glucose test strip market is growing with a CAGR of 3.8% in the forecast period of 2024 to 2031 and is expected reach USD 179.18 million by 2031 from USD 133.70 million in 2023. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

A blood glucose test strip is a crucial component in the field of medical diagnostics, specifically designed for monitoring and managing diabetes. These small, disposable strips are equipped with specialized chemicals that react with glucose present in a blood sample. Typically used in conjunction with a glucose meter, these strips enable individuals with diabetes to measure their blood sugar levels accurately and conveniently at home or in clinical settings.

Saudi Arabia Blood Glucose Test Strip Market Dynamics

Drivers

• Rising Prevelance of Diabetes

The increasing prevalence of risk factors such as inactive lifestyles, unhealthy dietary habits, obesity, and aging populations contributes to the growing number of individuals diagnosed with diabetes. With more people living with diabetes, there is a larger market for diabetes management products, including blood glucose test strips. For individuals with diabetes, regular monitoring of blood glucose levels is essential for managing the condition and preventing complications. Blood glucose test strips allow patients to monitor their blood sugar levels at home or on the go, providing valuable information to guide dietary choices, medication dosing, and lifestyle modifications. As diabetes becomes more prevalent, the importance of effective glucose monitoring becomes increasingly recognized, driving the demand for test strips.

• Growing Adoption of Self-Monitoring

Self-monitoring allows individuals with diabetes to personalize their treatment plans based on their unique glucose patterns and fluctuations and tracking of the blood sugar levels over time, patients can identify trends, recognize patterns, and make informed decisions about medication adjustments, dietary modifications, and lifestyle interventions. This personalized approach to diabetes management leads to better glycemic control and improved health outcomes, driving the demand for blood glucose test strips as a crucial tool for self-monitoring.

Opportunity

• Growing Emphasis on Disease Management and Preventive Care

With an increasing emphasis on disease management and preventive care, there is a greater recognition of the importance of early detection and intervention in chronic conditions such as diabetes. Blood glucose test strips play a crucial role in facilitating early detection by allowing individuals to monitor their blood sugar levels regularly. Early detection enables timely interventions, such as lifestyle modifications or medication adjustments, to prevent or delay the onset of complications associated with diabetes.

Restraint

• Stringent Regulatory Standard for Approval

Regulatory authorities impose stringent performance standards for blood glucose test strips to ensure accuracy, reliability, and safety. Manufacturers must demonstrate that their test strips meet specified criteria for sensitivity, specificity, precision, and linearity, often requiring extensive testing and validation studies. Meeting these performance standards can be challenging, particularly for novel technologies or innovative approaches, leading to delays in product development and market introduction.

Challenge

• Cost and Affordability of Blood Glucose Test Strips

Patients and healthcare providers are increasingly price-sensitive when choosing blood glucose test strips, particularly in regions with limited healthcare resources or high out-of-pocket costs. Price-conscious consumers may opt for lower-cost alternatives or generic test strips to save money, sacrificing accuracy or reliability in the process. Price sensitivity can lead to price competition among manufacturers, reducing profit margins and slowing down market growth.

Recent Developments

• In October 2023, as per Drug Delivery Business News, Abbott is one of the market leaders in the diabetes space with its continuous glucose monitoring (CGM) technology. It continues updating its FreeStyle Libre 2 CGM, while it began rolling out the FreeStyle Libre 3 after receiving FDA clearance last year. This may help the company to establish its strong presence in diabetes management and care
• In May 2023, Ascensia Diabetes Care will expand its Eversense PASS program, aiming to enhance affordability and access to the advanced Eversense E3 CGM System. The initiative, featuring increased savings for eligible first-time users, reflects Ascensia's commitment to widening access and alleviating financial barriers for individuals in need of advanced glucose monitoring solutions. And it will enhance the retainity of the patients
• In January 2022, F Hoffmann La Roche established a strategic agreement with Glytec, a cloud-based insulin management software supplier across the continuum of care. To address the issues of inpatient blood sugar management at the hospital bedside, this digital health collaboration incorporates Roche's expertise in medical devices and IT solutions with Glytec's FDA-cleared insulin dosing decision support software, Glucommander. Glucommander will be the first software program available for Roche's Cobas pulse smart-device next-generation hospital blood glucose system, which is aimed to improve patient safety and care by allowing point-of-care doctors to collect and act on glycaemic management data in real-time

Saudi Arabia Blood Glucose Test Strip Market Scope

The Saudi Arabia blood glucose test strip market is segmented into eleven notable segments based on type, technology, modality, pricing, sample, mode of purchase, packaging, age group, application, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the differences in your target markets.

Type

• Thick Film Electrochemical Films
• Thin Film Electrochemical Films
• Optical Strips

On the basis of type, the market is segmented into thick film electrochemical films, thin film electrochemical films, and optical strips .

Technology

• Glucose Oxidase
• Glucose Dehydrogenase

On the basis of technology, the market is segmented into glucose oxidase and glucose dehydrogenase.

Modality

• Use and Throw
• Built-In Indicator

On the basis of modality, the market is segmented into use and throw and built-in indicator.

Pricing

• Standard
• Premium

On the basis of pricing, the market is segmented into standard and premium.

Sample

• Whole Blood
• Plasma

On the basis of sample, the market is segmented into whole blood and plasma.

Mode of Purchase

• Over The Counter
• Prescription Based

On the basis of mode of purchase, the market is segmented into over the counter and prescription based.

Packaging

• 50 Strips
• 100 Strips
• 25 Strips

On the basis of packaging, the market is segmented into 50 strips, 100 strips, and 25 strips.

Age Group

• Adult
• Geriatric
• Pediatric

On the basis of age group, the market is segmented into adult, geriatric, and pediatric.

Application

• Type 2 Diabetes
• Type 1 Diabetes
• Pre-Diabetes
• Gestational Diabetes

On the basis of application, the market is segmented into type 2 diabetes, type 1 diabetes, pre-diabetes, and gestational diabetes.

End User

• Home Healthcare
• Hospital
• Diagnostic Laboratory
• Others

On the basis of end user, the market is segmented into home healthcare, hospital, diagnostic laboratory, and others.

Distribution Channel

• Retail Sales
• Direct Tender
• Others

On the basis of distribution channel, the market is segmented into, retail sales, direct tender, and others.

Competitive Landscape and Saudi Arabia Blood Glucose Test Strip Market Share Analysis

The Saudi Arabia blood glucose test strip market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, company strengths and weaknesses, product launch, product approvals, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.

Some of the major market players operating in this market are F. Hoffmann-La Roche Ltd., LifeScan IP Holdings, LLC., Abbott Ascensia Diabetes Care Holdings AG., and Sinocare among others.

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