Significant increase in Glucose Testing Surging Demand for Glucose Analysis Tubes to reach US$ 713.6 Mn by 2031
NEW YORK, Nov. 12, 2021 /PRNewswire/ -- The global glucose analysis tubes market was valued at US$ 393.3 Mn in 2020, and is likely to exhibit a CAGR of around 5.7% over the forecast period (2021-2031), as per analysis by Persistence Market Research.
A blood glucose test is basically a diagnostic test of the blood that checks for diabetes by measuring the level of glucose in a person's blood. Standard blood glucose ranges between 70 to 99 mg/dL. Higher ranges could indicate that the person is suffering from pre-diabetes or diabetes.
A large population of the world is suffering from diabetes or pre-diabetes conditions. This is widely due to continuous changes in the lifestyle of people, such as bad eating habits, disturbed sleeping schedules, and lack of physical activities and exercises. Regular monitoring of diabetes through glucose analysis and healthy lifestyle and eating habits can help in reducing the risk of diabetes
Diagnostic laboratories and hospitals & clinics have a major market share in revenue with over 46% and 36%, respectively, in 2020, due to a large population of people admitted to hospitals.
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Some of the key market developments are:
- In March 2018, BD upgraded its instructions for its BD vacutainer tubes as a part of its quality process, which ensures the appropriate use of these tubes.
- In February 2021, Greiner Bio-One introduced the Vacuette FC Mix Tube for glucose analysis.
Key Takeaways from Market Study
- By product, sodium fluoride holds around 41.7% value share, globally, primarily due to its high accuracy and effectiveness.
- Based on material, PET/plastic is leading with over 84% market share. Cost-effectiveness and greater durability is the main reason behind its popularity.
- Diagnostic laboratories are set to dominate the market with a share of 46.6% over the forecast period.
- By region, North America is slated to dominate the global glucose analysis tubes market with a value share of around 32.1%.
- Europe is set to be the second-largest leading market with a value share of 29.7% through 2031.
"Growing prevalence of diabetes, rise in geriatric population, and new product launches are expected to drive the market over the forecast period," says an analyst of Persistence Market Research.
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Market Competition
Followed by launches of new products and approvals, agreements, collaborations and partnerships have emerged as key growth strategies being adopted by industry players. By focusing on these strategies, key stakeholders are expanding their geographic footprint and strengthening their existing product portfolios.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the Glucose analysis tubes market in its latest study, presenting a historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on the product (treatment (sodium fluoride, potassium fluoride, fluoride oxalate), by material (pet/plastic, glass), by end-user (diagnostic laboratories, hospitals & clinics, research & academic institutes, veterinary hospitals & clinics), across seven key regions of the world.
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