Point of Care Glucose Testing Market Trends, Industry | 2031

Report Description

Point-of-care Glucose Testing Market Outlook 2031

The global point-to-care glucose testing market size was valued at USD 3.20 billion in 2022 and is projected to reach USD 4.59 billion by 2031 expand at a substantial CAGR 4.1% during the forecast period, 2023 – 2031. The growth of the market is attributed to the technological advancements towards the developing of blood glucose tests.

To diagnose and monitor diabetes, one must determine the concentration of sugar and glucose present in the blood cells. This diagnosis is always established by the blood glucose performance present in the patient’s body. The introduction of the point-to-care glucose testing resides on this principle namely to monitor diabetes and establish its diagnosis. This method basically runs on a device which has to be approved by the hospital committee of administration.

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This committee will have to evaluate the merits of the device and approve, before being used by the hospitals to the patients. However, with the introduction of insulin pumps, diabetes patients can now measure their glucose levels from their homes. These tests, at the point of discovery, take long periods of time just for the preliminary results, but with refined methods, now can be studied in a matter of minutes.

World Health Organizations (WHO) encourages diabetes patients to use oral glucose tolerance test and fasting plasma glucose test to ensure the health conditions of patients. Both these tests essentially help the diabetes patient to understand what type of stage they belong to, either they are a type 1 diabetic or a type 2 diabetic. The tests also show several merits in predicting the mortality and morbidity of patients. The diabetic patients, in the long run, become susceptible to cardiovascular disorders, kidney failure, blindness, and nerve damage.

Point-of-care Glucose Testing Market Trends, Drivers, Restraints, and Opportunities

• Increasing prevalence of diabetes across the world and rising demand for glucose diagnosis among patients are projected to boost the market.
• Favorable regulations from government and administrative bodies to enhance the promotion of point-to-care glucose testing devices are expecting to drive the market growth.
• Wide adoption of advanced technologies in monitoring devices, which are designed for self-diagnosis of glucose level of patients is projected to propel the market expansion.
• The COVID-19 pandemic outbreak and its impact has affected the growth of the global point-to-care glucose testing market initially. However, researchers and scientists found out that the coronavirus has the viral gene of accelerating illness of the hosts, which is gradually steering the market growth.
• Rising development of new hospitals, clinics, and healthcare laboratories to focus more on point-to-care glucose testing devices for the prevention and treatment of diseases are offering key opportunities for the market growth.

Scope of The Point-of-care Glucose Testing Market Report

The report on the global point-of-care glucose testing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Point-of-Care Glucose Testing Market Segment Insights

i-STAT segment to generate a large revenue share

On the basis of products, the global point-of-care glucose testing market is divided into Accu-Chek Inform II, StatStrip, Onetouch Verio Flex, Freestyle Lite, Accu Check Aviva Meter, True Metrix, Bayer CONTOUR Blood Glucose Monitoring System, and i-STAT. The i-STAT segment is expected to generate a large revenue share owing to its superior quality of testing combined with less time consumed per test.

This product has multi-utility applications outside blood analysis. It is designed to produce perfect laboratory test results across clinics, hospitals, critical care units, emergency departments, and laboratories. However, the Accu-Chek Inform II segment is projected to exhibit a high CAGR during the forecast period owing to wide demand for the product type for various applications.

This product is developed by F.Hoffmann-La Roche AG and the company announced that its research and development team have made a breakthrough development, which could reduce the cost of testing by half while keeping the same efficiency.

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North America to exhibit a robust CAGR

In terms of regions, the market is classified as North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. North America held a key share of the market share in 2018 and is expecting to exhibit a robust CAGR during the forecast period, 2023-231. The presence of major key players in the region and early adoption of several advanced technology in the medical field are key drivers for the regional market growth.

Favorable government and other administrative regulatory policies that offer benefit such as the expansion of hospitals, clinics, and other healthcare centers to develop innovate point-of-care glucose testing devices present a key factor propelling the regional market. In the US, for instance, the Clinical Laboratory Improvement Amendments or the CLIA body have made implications towards the boosting of the adaption of point-of-care tests.

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