Point-of-Care Glucose Testing Market By Product Type (Lancing Devices and Strips, Blood-Glucose Meter), By Application (Type-1 Diabetes, Type-2 Diabetes), By End User (Hospitals and Clinics, Home Care Settings, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The point-of-care glucose testing market was valued at $3,003.30 million in 2022 and is estimated to reach $4,793.22 million 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.
Key Benefits For StakeholdersThis 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 SegmentsBy Product TypeLancing 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 ApplicationType-1 Diabetes
Type-2 Diabetes
By End UserHospitals and Clinics
Home Care Settings
Others
By RegionNorth 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
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