Point-of-Care Glucose Testing

Point-of-Care Glucose Testing

Point-of-care testing or near-patient testing is a critical tool that is used for monitoring diabetic patients in the outpatient setting. These diagnostic kits are gaining tremendous attention owing to their advantages, such as quick, simple, portable diagnosis and self-monitoring. These devices provide diagnostic and monitoring to patients in clinics, hospitals, and at home which act as a growth driver for the market. Apart from this, pharmaceutical giants are rapidly launching products which is also boosting the growth of the market. For instance, in March 2020, EKF Diagnostics launched STAT-Site WB which is a dual-use whole blood β-ketone and glucose meter for professional use in the management of diabetes.

The Point-of-Care Glucose Testing Market is expected to grow at a strong CAGR of 4% during the forecast period owing to the surge in the prevalence of diabetes. According to the data from World Health Organization, there are over 400 million people with diabetes across the world, and its treatment constitutes around 12% of the total healthcare expenditure on a global scale. It has emerged as a global epidemic and afflicted millions worldwide. Others risk factors, including obesity, smoking, high cholesterol levels, and poor nutrition also propel the prevalence of diabetes, thus fuelling the demand for point-of-care glucose testing market.

• Based on product, the market is segmented into accu check aviva meter, onetouch verio flex, i-STAT, freestyle lite, Bayer contour blood glucose monitoring system, true metrix, accu-chek inform II, statStrip, and others. The accu-chek inform II category held a significant share of the market in 2021. The accu-chek inform II is offered by Roche and provides high-accuracy results with proven repeatability and reproducibility. Moreover, the accu-chek inform II solution brings ISO15197:2013 safety standards to bedside glucose testing and ¬helps ensure safety for patients and users. Thus, these factors are driving segmental growth.
• By end user, the market is categorized into hospitals, home settings, and others. The home care settings is anticipated to register high CAGR during the forecast period. The home-based glucose monitoring is revolutionized by the self-monitoring of blood glucose and is the most widely used method of short-term glucose monitoring throughout the world. The self-monitoring blood glucose (SMBG) is an approach through which people with or without diabetes can measure their blood sugar levels in their homes. Based on the reading, the patient can check the effects of their treatment such as diet, insulin, exercise, and stress management.
• For a better understanding of the market adoption of the Point-of Care Glucose Testing industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a dominant share of the market in 2021. According to the National Diabetes Statistics Report for 2020, around 34.2 million, or 10.5% of the U.S. population, have diabetes. An estimated 26.8 million people – or 10.2% of the population had been diagnosed with diabetes.Apart from this, the region has the presence of several key players, such as Abbott, Nova Biomedical, and Prodigy Diabetes Care, LLC. This has increased the availability of glucose testing products, thereby contributing to the revenue generation of the regional market. In addition, higher healthcare expenditure by governments on diabetes management is one of the factors responsible for regional market growth.
• Some of the major players operating in the market include F. Hoffmann-La Roche Ltd; Abbott; Bayer AG; Nova Medical; ACON Laboratories, Inc.; Prodigy Diabetes Care, LLC; Trividia Health, Inc.; Nipro; EKF Diagnostics Holdings plc; and Platinum Equity Advisors, LLC.