Rising prevalence of diabetes and glucose impairment, growing preference for homecare settings, and rising need to monitor and control diabetes are key factors driving market growth
Point-of-Care Glucose Testing Market Size – USD 6.39 Billion in 2020, Industry Growth – at a CAGR of 3.12%, Trends – Growing use of PoC glucose testing in clinical trials
The global point-of-care glucose testing market size is expected to reach USD 8.17 billion by 2028 at a CAGR of 3.12%, according to the latest report by Reports and Data. Rising health burden of diabetes, increasing shift toward home-based testing and treatment, and technological advancement in glucometers are key factors expected to drive market revenue growth over the forecast period. Rising prevalence of obesity has contributed to increasing risk of diabetes as obesity can lead to increased levels of fatty acids and inflammation, which may lead to insulin resistance, causing type 2 diabetes. This is a key factor driving adoption of point-of-care glucose testing devices owing to rapidly rising demand for surveillance, prevention, and control of diabetes across the globe.
Point-of-care glucose testing uses whole blood measurements at patient’s bedside and then converts the reading to plasma glucose to provide better results about glucose levels. Standard glucose point-of-care testing has increasingly been adopted into homecare settings as a critical tool in diabetes management. Extensive research and development activities and technological advancements have resulted in development of point-of-care testing devices with improved precision and accuracy. PoC glucose testing devices are handheld lightweight portable devices with enhanced connectivity that reduces turnaround time and enables quick decision making processes. Point-of-care glucose testing has also enabled patients to take active role in managing their owing health, which has significantly boosted demand for patient engagement solutions. PoC glucose is a minimally invasive testing that offers real-time bedside glucose monitoring without needing a continuous IV catheter with glucose drip.
Increasing clinical importance diabetes monitoring, rapid turnaround time and quick decision making processes, and reduced operating time are key factors expected to drive market growth over the forecast period. However, stringent regulatory approvals for products and low accuracy of pre-existing devices are expected to hamper market growth to a certain extent over the forecast period.
Key companies operating in the market include Roche Diabetes Care, LifeScan IP Holdings, LLC, Abbott, Ascensia Diabetes Care, Trividia Health, Nova Biomedical, Nipro, ACON Laboratories, Inc., Prodigy Diabetes Care, LLC, Bayer AG/Ascensia Diabetes Care Holdings AG, and EKF Diagnostics, among others.
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Some Key Highlights in the Report:
- Meters segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing adoption of glucometers in home care settings, growing preference of home-based self-monitoring, and recent product launches of advanced glucometers.
- Fingertip segment is expected to register significant revenue share between 2021 and 2028 due to requirement of finger stick blood for testing and rapid and accurate test results.
- Homecare settings segment is expected to register robust revenue CAGR during the forecast period owing to growing preference of patients across the globe for home care settings, availability of advanced glucose testing devices, and growing trend of bedside glucose monitoring.
- North America is expected to account for largest revenue share among other regional markets owing to growing health burden of diabetes, rising prevalence of lifestyle diseases and obesity, and increasing government initiatives to encourage adoption of point-of-care glucose monitoring devices.
For the purpose of this report, Reports and Data has segmented the point-of-care glucose testing market based on product type, testing site, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Lancet & Lancing Devices
Testing Site Outlook (Revenue, USD Billion; 2018-2028)
- Alternative Site Testing
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Professional Diagnostic Centers
- Hospitals & Clinics
- Home Care Settings
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Table of Content:
Chapter 1 Point-of-Care Glucose Testing Market: Methodology And Scope
1.1 Research Methodology
1.2 Research Assumptions
1.2.1 Estimates and forecast timeline
1.3 Research Methodology
1.4 Information Procurement
1.4.1 Purchased database
1.4.2 Internal database
1.4.3 Secondary sources
1.4.4 Primary Research
1.5 Information or Data Analysis
1.5.1 Data analysis models
1.6 Market Formulation & Validation
1.6.1 Objective 1
1.6.2 Objective 2
Chapter 2 Point-of-Care Glucose Testing Market: Executive Summary
2.1 Market Summary, 2021
Chapter 3 Point-of-Care Glucose Testing Market: Industry Outlook
3.1 Industry Pyramid Analysis
3.2 Market Segmentation & Scope
3.2.1 Market drivers analysis
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