Point-of-Care Glucose Testing Industry Overview
The global point-of-care glucose testing market size was valued at USD 3.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030. The growing geriatric population, the ability of point-of-care (POC) diagnostic tests to deliver immediate results, thus providing improved patient care, and rising market penetration of Electronic Medical Records (EMRs) are among the high-impact rendering drivers of this market. The shortage of skilled staff, especially in the field of diagnostics, is also expected to increase the market penetration of glucose POC diagnostic products. The market is expected to gain momentum as the presence of diabetes increases the risk of mortality from COVID-19.
Thus, diabetes management is one of the key priorities among healthcare professionals to limit the mortality rate. According to a survey by the Diabetes Research Foundation, diabetes increases the risk of a fatal outcome by 50% among COVID-19 patients. The growing awareness about diabetes management, poor healthcare access, scarcity of healthcare professionals, and the highest global prevalence recorded in Asian countries are likely to increase the adoption of PoC glucose testing solutions. This, in turn, creates an opportunity to reduce the healthcare burden by improving patient outcomes.
Gather more insights about the market drivers, restraints and growth of the Global Point-of-Care Glucose Testing Market
The introduction of favorable regulatory policies aimed at promoting PoC glucose diagnostics is expected to serve as a high-impact rendering driver for the market. For example, in the U.S., the implementation of Clinical Laboratory Improvement Amendments (CLIA) is expected to boost usage rates during the forecast period. CLIA-waived tests are approved for use by healthcare providers operating in nontraditional laboratory sites, such as emergency rooms, physician offices, pharmacy clinics, health department clinics, and other healthcare facilities. The prevalence of diabetes is increasing worldwide, which is expanding the patient pool for the market.
Furthermore, the presence of unmet medical needs for diagnosis and management of diabetes and the increase in patient awareness are expected to boost the demand for POC diagnostics. According to the International Diabetes Federation, an estimated 537 million people had diabetes in 2021, and the number is projected to increase to 643 million by 2030 and 783 million by 2045. The healthcare industry is focusing on shorter hospital stays, better acute care, and the expansion of outlying surgical centers, which has consequently increased the demand for Short Turn-Around Testing (STAT). POC management solutions allow patients and healthcare providers to easily collect, share, and manage specimens to meet regulatory requirements.
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Point-of-Care Glucose Testing Industry Segmentation
Grand View Research has segmented the global point-of-care glucose testing market based on product, end use and region:
PoC Glucose Testing Product Outlook (Revenue, USD Million, 2018 - 2030)
- Accu Check Aviva Meter
- Onetouch Verio Flex
- i-STAT
- Freestyle Lite
- Bayer CONTOUR Blood Glucose Monitoring System
- True Metrix
- Accu-Chek Inform II
- StatStrip
- Others
PoC Glucose Testing End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospital
- Home setting
- Diagnostic center
Point-of-Care Glucose Testing Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East Africa)
Key Companies profiled:
Some prominent players in the global Point-of-Care Glucose Testing Industry include
- F. Hoffmann-La Roche Ltd.
- Abbott
- Nipro
- PlatInium Equity Advisors, LLC (Lifescan, Inc.)
- Nova Biomedical
- ACON Laboratories
- Trividia Health, Inc.
- Prodigy Diabetes Care, LLC
- Bayer AG/Ascensia Diabetes Care Holdings AG
- EKF Diagnostics
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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