Blood glucose testing is a key part for diabetes treatment; accurately self monitoring blood glucose level is a main measure to control its level, Glucometer is an electronic device used to test blooding glucose level. Currently, the global capacity of blood glucose monitoring system is worth $20 billion in 2015, and the Chinese has capacity of approximately $1 billion with a low permeability of 20%, there is a large room for growth compares to 90% of permeability in the developed countries, and 60% of global average penetration rate.
Sources from insiders revealed the test paper was the main profit to the glucometer producers instead of glucometers due to the glocometer has durability and low margin; the test paper is a part of the glucometer kit to monitor blood glucose level, as medical consumables to match glocometer, the diabetes patients need to consume one piece of test paper for every single monitoring, in addition, the test paper has higher margin rate and lucrative market niches.
Currently, per glucometer will consume approximately 100 piece test paper within one year in China, equals to twice blood glucose test per week, that is relatively lower than the developed countries, such as America, where 400 piece for single glucometer in one year. With the economy growth and the health consciousness increase, the diabetes patients will pay more attention to their blood glucose test, so that the test paper has a space for growth.
The Chinese glucometer market overview by quantity of products of producers.
