The point-of-care glucose testing market was valued at $3.00 Billion in 2022 and is estimated to reach $4.79 Billion by 2032, exhibiting a CAGR of 4.8% from 2023 to 2032.
Point-of-care testing refers to medical diagnostic tests that are performed at or near the patient, rather than being sent to a laboratory for analysis. Point-of-care glucose testing is a type of medical diagnostic test that measures the level of glucose (sugar) in a patient's blood. This test is typically performed using a blood glucose meter, which is a portable device that provides a rapid measurement of a patient's blood glucose level. Point-of-care glucose testing is commonly used in the management of diabetes, a chronic condition in which the body is unable to regulate blood glucose levels effectively. Patients with diabetes often need to monitor their blood glucose levels regularly to ensure that they are within a healthy range, and to make treatment decisions based on their results.
Major factors that drive the growth of the point-of-care glucose testing market Include rapid advancements in glucose testing devices and Increase in number of patients suffering from diabetic disorders, such as diabetic nephropathy and diabetes mellitus. For instance, according to the 10th edition of the International Diabetes Federation (IDF)’s Diabetes Atlas, in 2021, 537 million adults (20-79 years) are living with diabetes worldwide. Over 3 in 4 adults with diabetes live in low- and middle Income countries. Diabetes is responsible for 6.7 million deaths in 2021, 1 every 5 seconds. It caused at least $966 billion dollars in health expenditure which is a 316% Increase over the last 15 years. 541 million adults have Impaired Glucose Tolerance (IGT), which places them at high risk of type 2 diabetes.
Furthermore, surge in awareness among the population about self-management of diabetes contributes to the growth of point-of-care glucose testing market growth. In addition, the development of affordable and effective glucose testing devices and government initiatives to provide diabetes care facilities drive the growth of the point-of-care glucose testing market. For instance, in January 2022 Roche launched its new point-of-care blood glucose monitor designed for hospital professionals, with a companion device shaped like a touchscreen smartphone that will run its own apps. The hand-held Cobas pulse Includes an automated glucose test strip reader as well as a camera and touchscreen for logging other diagnostic results, all in a hardened body that can be cleaned with disinfectants. It’s designed to be used with patients of all ages, Including neonates and people in intensive care.
However, the accuracy concerns of glucose testing meter are expected to hamper the point-of-care glucose testing market growth. On the contrary, the surge in healthcare expenditure and rise in number of adoptions of key strategies by key players are expected to create immense opportunities for expansion of the global market in the future.
The point-of-care glucose testing market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is classified into lancing devices & strips, and blood-glucose meter. The blood-glucose meter segment is further bifurcated into Lifescan OneTouch Ultra & Lifescan OneTouch Verio; Accu-Chek Aviva Plus & Accu-Chek; FreeStyle Lite & FreeStyle precision neo; Contour Next; and others. On the basis of application, the market is classified into type-1 diabetes, and type-2 diabetes. As per end user, it is segregated into hospitals & clinics, home care settings, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
North America is anticipated to dominate the market for point-of-care glucose testing devices and is expected to continue the trend throughout the forecast period. This is attributed to the surge in the geriatric population that is suffering from diabetes, strong presence of key players, and availability of advanced healthcare system & modern medical technologies. However, Asia-Pacific is expected to register a noteworthy CAGR throughout the forecast period, owing to the presence of diabetes patient population, rise in demand for point-of-care glucose testing devices due to high population base, and Increase in public-private investments for unmet medical needs.
Major players profiled in the report are Abbott Laboratories, ACON Laboratories, Inc., Ascensia Diabetes Care Holdings AG, EKF Diagnostics Holdings plc, F. Hoffmann-La Roche Ltd., Nipro, Nova Biomedical, Platinum Equity Advisors, LLC (Lifescan, Inc.), Prodigy Diabetes Care, LLC, and Trividia Health, Inc. The major players in the market have adopted agreement, collaboration, partnership, product development, product approval, and product launch as key developmental strategies to improve the product portfolio of the point-of-care glucose testing market.
Point-of-care testing refers to medical diagnostic tests that are performed at or near the patient, rather than being sent to a laboratory for analysis. Point-of-care glucose testing is a type of medical diagnostic test that measures the level of glucose (sugar) in a patient's blood. This test is typically performed using a blood glucose meter, which is a portable device that provides a rapid measurement of a patient's blood glucose level. Point-of-care glucose testing is commonly used in the management of diabetes, a chronic condition in which the body is unable to regulate blood glucose levels effectively. Patients with diabetes often need to monitor their blood glucose levels regularly to ensure that they are within a healthy range, and to make treatment decisions based on their results.
Major factors that drive the growth of the point-of-care glucose testing market Include rapid advancements in glucose testing devices and Increase in number of patients suffering from diabetic disorders, such as diabetic nephropathy and diabetes mellitus. For instance, according to the 10th edition of the International Diabetes Federation (IDF)’s Diabetes Atlas, in 2021, 537 million adults (20-79 years) are living with diabetes worldwide. Over 3 in 4 adults with diabetes live in low- and middle Income countries. Diabetes is responsible for 6.7 million deaths in 2021, 1 every 5 seconds. It caused at least $966 billion dollars in health expenditure which is a 316% Increase over the last 15 years. 541 million adults have Impaired Glucose Tolerance (IGT), which places them at high risk of type 2 diabetes.
Furthermore, surge in awareness among the population about self-management of diabetes contributes to the growth of point-of-care glucose testing market growth. In addition, the development of affordable and effective glucose testing devices and government initiatives to provide diabetes care facilities drive the growth of the point-of-care glucose testing market. For instance, in January 2022 Roche launched its new point-of-care blood glucose monitor designed for hospital professionals, with a companion device shaped like a touchscreen smartphone that will run its own apps. The hand-held Cobas pulse Includes an automated glucose test strip reader as well as a camera and touchscreen for logging other diagnostic results, all in a hardened body that can be cleaned with disinfectants. It’s designed to be used with patients of all ages, Including neonates and people in intensive care.
However, the accuracy concerns of glucose testing meter are expected to hamper the point-of-care glucose testing market growth. On the contrary, the surge in healthcare expenditure and rise in number of adoptions of key strategies by key players are expected to create immense opportunities for expansion of the global market in the future.
The point-of-care glucose testing market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is classified into lancing devices & strips, and blood-glucose meter. The blood-glucose meter segment is further bifurcated into Lifescan OneTouch Ultra & Lifescan OneTouch Verio; Accu-Chek Aviva Plus & Accu-Chek; FreeStyle Lite & FreeStyle precision neo; Contour Next; and others. On the basis of application, the market is classified into type-1 diabetes, and type-2 diabetes. As per end user, it is segregated into hospitals & clinics, home care settings, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
North America is anticipated to dominate the market for point-of-care glucose testing devices and is expected to continue the trend throughout the forecast period. This is attributed to the surge in the geriatric population that is suffering from diabetes, strong presence of key players, and availability of advanced healthcare system & modern medical technologies. However, Asia-Pacific is expected to register a noteworthy CAGR throughout the forecast period, owing to the presence of diabetes patient population, rise in demand for point-of-care glucose testing devices due to high population base, and Increase in public-private investments for unmet medical needs.
Major players profiled in the report are Abbott Laboratories, ACON Laboratories, Inc., Ascensia Diabetes Care Holdings AG, EKF Diagnostics Holdings plc, F. Hoffmann-La Roche Ltd., Nipro, Nova Biomedical, Platinum Equity Advisors, LLC (Lifescan, Inc.), Prodigy Diabetes Care, LLC, and Trividia Health, Inc. The major players in the market have adopted agreement, collaboration, partnership, product development, product approval, and product launch as key developmental strategies to improve the product portfolio of the point-of-care glucose testing market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the point-of-care glucose testing market analysis from 2022 to 2032 to identify the prevailing point-of-care glucose testing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the point-of-care glucose testing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global point-of-care glucose testing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Lancing Devices and Strips
- Blood-Glucose Meter
- Type
- Lifescan OneTouch Ultra and Lifescan OneTouch Verio
- Accu-Chek Aviva Plus and Accuchek
- Freestyle Lite and Freestyle Precission Neo
- Contour Next
- Others
By Application
- Type-1 Diabetes
- Type-2 Diabetes
By End User
- Hospitals and Clinics
- Home Care Settings
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- ACON Laboratories, Inc.
- Nipro
- Platinum Equity Advisors LLC
- Abbott Laboratories
- Trividia Health, Inc.
- Nova Biomedical Corporation
- EKF Diagnostics Holdings plc
- Ascensia Diabetes Care Holdings AG
- F. Hoffmann-La Roche Ltd.
- Prodigy Diabetes Care LLC
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: POINT-OF-CARE GLUCOSE TESTING MARKET, BY PRODUCT TYPE
CHAPTER 5: POINT-OF-CARE GLUCOSE TESTING MARKET, BY APPLICATION
CHAPTER 6: POINT-OF-CARE GLUCOSE TESTING MARKET, BY END USER
CHAPTER 7: POINT-OF-CARE GLUCOSE TESTING MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Point-of-Care Glucose Testing Market,' The point-of-care glucose testing market was valued at $3 billion in 2022, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.Point-of-care glucose testing (POCGT) refers to the measurement of blood glucose levels using a portable device that can be used at the patient's bedside or in a doctor's office. This type of testing is often used to diagnose and monitor diabetes, a chronic condition in which the body is unable to regulate blood glucose levels properly.
Key factors driving the growth of the point-of-care glucose testing market include surge in prevalence of diabetes, which further required point-of-care glucose testing devices for diagnostic purpose. For instance, according to the National Diabetes Statistics 2021 report, 37.3 million people have diabetes in world (11.3% of the U.S. population) in which 28.7 million people, including 28.5 million adults were diagnosed and 8.5 million people (23.0% of adults are undiagnosed) were undiagnosed in the U.S from 2017 to 2020. In addition, as per the Centers for Disease Control and Prevention (CDC) 2023, more than 37 million people in the U.S. have diabetes, and 1 in 5 of them are unaware of their diabetes. Therefore, the rise in prevalence of diabetes boosts the growth of the point-of-care glucose testing market.
Moreover, the rise in the geriatric population who are suffering from diabetes, rise in risk factors that lead to diabetes further increase the demand of point-of-care glucose testing device and drives the growth of the point-of-care glucose testing. The market offers growth opportunities to the key players in the market including rise in awareness for glucose monitoring devices, rise in technological advancement in glucose monitoring devices, and rise in the demand of point-of-care glucose testing device. As a result, the key players engaged in the point-of-care glucose testing industry have invested in R&D and increasing their production are expected to gain high traction and provide lucrative opportunities for the growth of point-of-care glucose testing market.
The point-of-care glucose testing market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is classified into lancing devices & strips, and blood-glucose meter. The blood-glucose meter segment is further bifurcated into Lifescan one touch ultra & Lifescan one touch verio; Accuchek Aviva Plus & Accuchek; FreeStyle Lite & FreeStyle precision neo; Contour Next; and others. On the basis of application, the market is classified into type-1 diabetes, and type-2 diabetes. As per end user, it is segregated into hospitals & clinics, home care settings, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Abbott Laboratories, ACON Laboratories, Inc., Ascensia Diabetes Care Holdings AG, EKF Diagnostics Holdings plc, F. Hoffmann-La Roche Ltd., Nipro, Nova Biomedical, Platinum Equity Advisors, LLC (Lifescan, Inc.), Prodigy Diabetes Care, LLC, and Trividia Health, Inc. The players in the market such as Abbott Laboratories, EKF Diagnostics Holdings plc, Platinum Equity Advisors, LLC (Lifescan, Inc.), Hoffmann-La Roche Ltd., Ascensia Diabetes Care Holdings AG have been actively engaged in the adoption of various strategies such as agreement, collaboration, partnership, product development, product approval, and product launch to remain competitive and gain an advantage over the competitors in the market.
For instance, in March 2021, EKF Diagnostics announced the global launch of its STAT-Site WB handheld analyzer which delivers ketone and glucose measurements from whole blood in seconds. The STAT-Site WB is used for the quantitative determination of -ketones (Beta-Hydroxybutyrate or BHB) and glucose in whole blood taken from capillary or venous samples. The easy-to-use analyzer is reagent free, utilizing two different test strips to deliver results in just 10 seconds for -ketones and 5 seconds for glucose.
Key Market Insights
- By product type, the lancing devices & strips segment was the highest revenue contributor to the market in 2022 and is estimated to reach $3,390.13 million by 2032. However, the blood-glucose meter segment is expected to be the fastest-growing segment with a CAGR of 5.4% during the forecast period.
- Based on application, the type-2 diabetes segment was the highest revenue contributor to the market in 2022. The same segment is estimated to be the fastest-growing segment with a CAGR of 4.9% during the forecast period.
- Based on end user, the home care settings segment was the highest revenue contributor to the market in 2022. The same segment is estimated to be the fastest-growing segment with a CAGR of 5.4% during the forecast period.
- Based on region, North America accounted for a major share of the point-of-care glucose testing market in 2022 and is expected to maintain its dominance during the forecast period. However, Asia-Pacific is expected to witness the highest CAGR of 5.8% during the forecast period.
Companies Mentioned
- ACON Laboratories, Inc.
- Nipro
- Platinum Equity Advisors LLC
- Abbott Laboratories
- Trividia Health, Inc.
- Nova Biomedical Corporation
- EKF Diagnostics Holdings plc
- Ascensia Diabetes Care Holdings AG
- F. Hoffmann-La Roche Ltd.
- Prodigy Diabetes Care LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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