The Point-of-Care Glucose Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Point-of-Care Glucose Testing Global Market Report 2024, The point-of-care glucose testing market size has grown strongly in recent years. It will grow from $4.63 billion in 2023 to $4.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growing prevalence of diabetes, increased awareness of diabetes management, expansion of the aging population, rise in healthcare infrastructure, adoption of point-of-care testing.
The point-of-care glucose testing market size is expected to see strong growth in the next few years. It will grow to $5.99 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to expansion of telemedicine services, growing emphasis on personalized medicine in diabetes care, rise in diabetes management programs, increased investment in glucose testing research and development, adoption of continuous glucose monitoring. Major trends in the forecast period include development of wearable glucose monitoring devices, integration of smartphone connectivity in glucose testing, growth of point-of-care testing in home healthcare settings, adoption of artificial intelligence in glucose data analysis, expansion of remote patient monitoring for diabetes.
The growing prevalence of diabetes is expected to propel the growth of the point-of-care glucose testing market going forward. Diabetes is a chronic metabolic disorder that elevates blood glucose levels, leading over time to severe damage to the heart, blood vessels, eyes, kidneys, and nerves. Point-of-care glucose testing is a frequently used technology for determining glucose levels in hospitalized patients, facilitating prompt treatment decisions in response to glycemia changes, and enhancing therapeutic output and diabetes management. For instance, in 2022, the Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people have diabetes which equals 11.3% of the United States population in 2021. Further, in November 2021, according to the International Diabetes Federation, a Belgium-based diabetes federation, the global diabetic population is expected to increase from 643 million (11.3%) by 2030 to 783 million (12.2%) by 2045. Therefore, the growing prevalence of diabetes is driving the growth of the point-of-care glucose testing market.
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The point-of-care glucose testing market covered in this report is segmented –
1) By Product: Lancet And Lancing Devices, Strips, Meters
2) By Testing Site: Fingertips, Alternate Site Testing
3) By Applications: Type-1 Diabetes, Type-2 Diabetes
4) By End-User: Professional Diagnostic Centers, Hospitals And Clinics, Home Care Settings, Other End Users
Product innovation is the key trend gaining popularity in the point-of-care glucose testing market. Major companies operating in the point-of-care glucose testing market are focused on developing innovative products to strengthen their position in the market. For instance, in January 2022, F. Hoffmann-La Roche AG, a Switzerland-based healthcare company, introduced Cobas Pulse, a new point-of-care blood glucose monitor for healthcare staff. It will accompany a companion gadget styled like a touchscreen smartphone running its apps. Cobas pulse is a hand-held device with an automated glucose test strip reader, camera, and touchscreen that enables documenting diagnostic data and is housed in a rugged housing that can be disinfected and used in patients of all age groups, including newborns and intensive care. Additionally, it seeks to improve physicians’ workflow by running the Glucommander dosage software on the blood glucose reader and adding downloadable decision-support apps from businesses such as Smart4Diagnostics, CardioSignal, and SteadySense.
The point-of-care glucose testing market report table of contents includes:
1. Executive Summary
2. Point-of-Care Glucose Testing Market Characteristics
3. Point-of-Care Glucose Testing Market Trends And Strategies
4. Point-of-Care Glucose Testing Market – Macro Economic Scenario
5. Global Point-of-Care Glucose Testing Market Size and Growth
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26. South America Point-of-Care Glucose Testing Market
27. Brazil Point-of-Care Glucose Testing Market
28. Middle East Point-of-Care Glucose Testing Market
29. Africa Point-of-Care Glucose Testing Market
30. Point-of-Care Glucose Testing Market Competitive Landscape And Company Profiles
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