Point-of-Care Glucose Testing Market Size 2022-2028-Rising Prevalence Of Diabetes And Increasing Preference For Home-Care Settings Are Key Factors Driving Market Growth
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
The global point-of-care (PoCT) glucose testing market size was USD 6.39 billion in 2020 and is expected to register a CAGR of 3.12% during the forecast period. Rising prevalence of diabetes, increasing patients’ preference for testing and treatment in home care settings, growing need for bedside monitoring, and increasing demand for point-of-care testing are key factors expected to drive market revenue growth over the forecast period. Benefits of point-of-care testing, such as diagnosis facility at patient’s home, easy and convenient operation, and minimal errors in testing glucose levels, are also expected to further fuel market growth.
Point-of-care testing for glucose is primarily used to monitor patients with diabetes. The determination of glucose level in the blood is generally done to diagnose or monitor diabetes mellitus. In the U.S., nearly 11% of the population has impaired glucose tolerance and nearly 9% have diabetes mellitus. Over the recent past, portable glucose testing devices have improved in precision and accuracy owing to rapid technological advancements and extensive research and development activities. Point-of-care glucose testing decreases turnaround time and improves patient care outcomes. Majority of the methods in PoC testing require a drop or finger stick blood and do not lyse the RBCs. This minimally invasive blood glucose monitoring technique permits real-time bedside glucose monitoring without the need for a continuous intravenous catheter with a glucose drip attached to its tip.
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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.
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.
- 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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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
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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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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
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