USD 3.3 billion
Point-of-care Glucose Testing Market Size, Share, Growth Analysis, By Prescription(OTC testing, and Prescription-based testing), By End-use(Hospitals, Diagnostic centers, Research laboratories, Home-care settings), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2398 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
64
|Figures:
75
Point-of-care Glucose Testing Market Insights
Global Point-of-Care glucose testing Market size was valued at USD 3.3 billion in 2022 and is poised to grow from USD 3.44 billion in 2023 to USD 4.78 billion by 2031, at a CAGR of 4.2% during the forecast period (2024-2031).
The global point-of-care glucose testing market is a rapidly growing sector in the healthcare industry. It involves the use of portable glucose testing devices that provide immediate results, enabling healthcare professionals and individuals to monitor blood glucose levels conveniently at the point of care. The market is driven by the increasing prevalence of diabetes and the need for regular glucose monitoring to manage the disease effectively. Point-of-care glucose testing offers several advantages, including quick results, improved patient outcomes, and reduced healthcare costs. The primary purpose of the point-of-care glucose testing market is to facilitate timely and accurate glucose monitoring, particularly for individuals with diabetes. It allows for immediate measurement of blood glucose levels, enabling healthcare professionals to make informed decisions regarding treatment plans and adjustments to medication dosages.
Point-of-care testing also empowers individuals to take control of their health by providing them with real-time information to manage their glucose levels more effectively. By promoting early detection, monitoring, and intervention, the market aims to improve patient outcomes and enhance overall diabetes management. One of the key driving factors in the global point-of-care glucose testing market is the rising prevalence of diabetes worldwide. The increasing incidence of diabetes, coupled with the growing awareness of the importance of regular glucose monitoring, drives the demand for point-of-care testing devices. Despite the market's growth potential, there are certain restraining factors that need to be considered. One such factor is the cost associated with point-of-care glucose testing devices, which may limit their affordability for some individuals and healthcare facilities. The global point-of-care glucose testing market faces several challenges. One of the significant challenges is ensuring the accuracy and precision of glucose testing devices. Calibration issues, interferences from various substances, and user errors can affect the reliability of test results. Standardization and quality control measures need to be implemented to address these challenges. The point-of-care glucose testing market presents significant opportunities for growth and innovation.
The development of advanced biosensor technologies, including non-invasive glucose monitoring, holds immense potential for the market. Integration with digital health platforms, electronic health records, and telehealth services can further enhance the market's opportunities. The global point-of-care glucose testing market serves the purpose of providing convenient and immediate glucose monitoring for individuals with diabetes. The market is driven by the increasing prevalence of diabetes, advancements in technology, and the need for better disease management. While there are challenges to overcome, such as ensuring accuracy and addressing cost concerns, there are also opportunities for innovation, expansion into emerging markets, and integration with digital health platforms. The market's ultimate goal is to empower individuals, improve patient outcomes, and enhance the management of diabetes on a global scale.
US Point-of-care Glucose Testing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
OTC Testing
Fastest Growth
Prescription-based Testing
Growth Rate
4.2% CAGR
Global Point-of-care Glucose Testing Market ($ Bn)
Country Share for North America Region (%)
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Point-of-care Glucose Testing Market Segmental Analysis
The global point-of-care glucose testing market is segmented on the prescription, end-use, and region. By prescription, the market is segmented into OTC testing, Prescription-based testing. In terms of segmentation by end-use, the market is segmented into hospitals, diagnostic centers, research laboratories, home-care settings, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Point-of-care Glucose Testing Market Analysis by Prescription
Prescription-based testing holds the largest share in the global market due to its widespread use in healthcare settings. It involves glucose testing conducted under the guidance and supervision of healthcare professionals. This segment caters to patients with chronic conditions such as diabetes, where regular monitoring of blood glucose levels is crucial for effective disease management. Prescription-based testing offers accurate and reliable results, making it the preferred choice for healthcare providers in managing patient care. The growing prevalence of diabetes and the increasing adoption of point-of-care glucose testing devices in hospitals, clinics, and diagnostic centers contribute to the dominance of the prescription-based testing segment.
OTC testing is the fastest-growing segment in the global point-of-care glucose testing market. OTC testing refers to glucose testing performed by individuals themselves without a prescription or medical supervision. The growing trend of self-monitoring and the availability of user-friendly and convenient glucose testing devices have fueled the demand for OTC testing. These devices allow individuals to monitor their blood glucose levels at their convenience, providing real-time information for self-management of conditions like prediabetes or diabetes. The accessibility and ease of use of OTC testing devices have made them popular among individuals seeking greater control over their health and well-being.
Point-of-care Glucose Testing Market Analysis by End-use
Hospitals represent the largest end-use segment in the global market due to their role as primary healthcare providers and the high volume of patients they serve. Glucose testing in hospitals is essential for effective disease management, especially for patients with diabetes or other conditions that require regular monitoring of blood glucose levels. Hospitals have well-established infrastructure, trained healthcare professionals, and access to a wide range of diagnostic devices, including point-of-care glucose testing systems. The demand for glucose testing in hospitals is driven by the need for accurate and timely results, enabling healthcare providers to make informed decisions regarding patient care. The prevalence of chronic diseases, increasing patient inflow, and the focus on providing comprehensive healthcare services contribute to the dominance of hospitals in the market.
Home-care settings represent the fastest-growing segment in the global point-of-care glucose testing market. Home-care settings include individuals' residences, assisted living facilities, and other non-medical environments where patients receive healthcare services. The growth of the home-care segment can be attributed to several factors. Firstly, there is a growing preference for remote monitoring and self-management of chronic conditions, including diabetes. Point-of-care glucose testing devices that are user-friendly, portable, and easy to operate have enabled individuals to monitor their blood glucose levels conveniently in the comfort of their homes. Additionally, the COVID-19 pandemic has accelerated the adoption of home-based healthcare solutions, including point-of-care glucose testing, to minimize hospital visits and ensure patient safety. The convenience, privacy, and cost-effectiveness of home-care settings have driven the demand for glucose testing devices in these environments.
Global Point-of-care Glucose Testing Market By Prescription
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Point-of-care Glucose Testing Market Regional Insights
North America holds the largest market share in the global point-of-care glucose testing market. This dominance can be attributed to several factors, including the high prevalence of diabetes in the region, well-established healthcare infrastructure, and favorable reimbursement policies. The presence of key market players, technological advancements, and the adoption of innovative glucose testing devices contribute to the region's leadership position. Additionally, increasing awareness among healthcare professionals and patients about the benefits of point-of-care glucose testing drives market growth in North America.
The Asia Pacific region is experiencing rapid growth in the point-of-care glucose testing market. Factors such as the growing prevalence of diabetes, a large population base, increasing healthcare expenditure, and rising awareness of the importance of glucose monitoring drive market growth in this region. Moreover, the rising disposable income and improving healthcare infrastructure in emerging economies, including China and India, are significant contributors to the market's expansion. The adoption of point-of-care glucose testing devices in home-care settings and the increasing focus on preventive healthcare further fuel market growth in the Asia Pacific region.
Global Point-of-care Glucose Testing Market By Region
- Largest
- Fastest
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Point-of-care Glucose Testing Market Dynamics
Point-of-care Glucose Testing Market Drivers
Rising Diabetes Prevalence
- The increasing global incidence of diabetes is a major driver of the point-of-care glucose testing market. According to the International Diabetes Federation, the number of adults living with diabetes is expected to reach 700 million by 2045. This surge in diabetes cases necessitates regular glucose monitoring, leading to a higher demand for point-of-care testing devices.
Technological Advancements
- Continuous technological advancements in glucose testing devices are driving market growth. Innovations such as wireless connectivity, smartphone integration, and cloud-based data management systems are enhancing the functionality and usability of point-of-care glucose testing devices. These advancements enable seamless data sharing, remote monitoring, and real-time insights for both healthcare professionals and patients.
Point-of-care Glucose Testing Market Restraints
Cost Constraints
- The cost of point-of-care glucose testing devices and consumables can be a restraining factor for market growth. Affordability remains a challenge, particularly in developing regions with limited healthcare resources and lower disposable incomes. The high cost of these devices may hinder their widespread adoption, particularly among low-income individuals and healthcare facilities with budget constraints.
Regulatory Challenges
- The point-of-care glucose testing market is subject to regulatory requirements and quality control standards to ensure the accuracy and reliability of the devices. Compliance with these regulations can be complex and time-consuming, posing challenges for market players. Stringent regulatory processes and variations in approval timelines across different regions can slow down product launches and hinder market growth.
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Point-of-care Glucose Testing Market Competitive Landscape
The global point-of-care glucose testing market is a highly competitive landscape with the presence of several key players. These companies strive to maintain their market position by focusing on product innovation, strategic partnerships, and geographical expansion. Key players in the competitive landscape of the global point-of-care glucose testing market continuously strive to introduce advanced technologies, improve product efficacy, and enhance user experience. They also engage in strategic partnerships, mergers, and acquisitions to strengthen their market position and expand their geographical presence. With a focus on innovation and customer-centric approaches, these companies contribute significantly to the growth and development of the point-of-care glucose testing market.
Point-of-care Glucose Testing Market Top Player’s Company Profiles
- Abbott (US)
- Dexcom (US)
- Roche (Switzerland)
- Ascensia Diabetes Care (Switzerland)
- LifeScan (US)
- Medtronic (US)
- Ypsomed (Switzerland)
- Animas (US)
- Insulet (US)
- Bayer (Germany)
- Nipro (Japan)
- Terumo (Japan)
- Arkray (Japan)
- Acon Laboratories (US)
- Freestyle (US)
- One Touch (US)
- Accu-Chek (Germany)
- Dario (US)
- iHealth (China)
- FreeStyle Libre (UK)
Point-of-care Glucose Testing Market Recent Developments
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In January 2024, Amazon declared its intention to partner with digital health firms to offer virtual care benefits to customers, especially for managing chronic conditions such as diabetes and hypertension. Omada Health, a virtual-first chronic care provider, was revealed as Amazon's inaugural partner in this initiative.
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In February 2024, Trinity Biotech (TRIB) finalized a conclusive agreement to purchase the biosensor and Continuous Glucose Monitoring (CGM) assets from Waveform Technologies. This strategic acquisition, valued at $12.5 million in cash and 9 million American Depositary Shares (ADSs) of the company, alongside additional considerations, positions Trinity Biotech to innovate diabetes care and upgrade its presence in the biosensor market.
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In July 2023, Avricore Health and Ascensia Diabetes Care revealed a partnership to incorporate blood glucose monitoring into point-of-care testing. The collaboration seeks to integrate the Contour Next-Gen and Contour Next One BGM systems into Avricore’s HealthTab PCOT platform.
Point-of-care Glucose Testing Key Market Trends
- Integration with Digital Health Platforms: The integration of point-of-care glucose testing devices with digital health platforms and electronic health records is a significant trend in 2022. This integration enables seamless data transfer, analysis, and real-time monitoring of glucose levels. It empowers patients to actively participate in their diabetes management and allows healthcare professionals to make informed treatment decisions based on comprehensive patient data.
- Focus on Remote Patient Monitoring: Remote patient monitoring using point-of-care glucose testing devices is gaining traction. With advancements in telehealth and remote healthcare services, patients can perform glucose tests at home and share the results with healthcare providers. This trend promotes patient convenience, reduces the need for in-person visits, and enhances disease management, especially during the COVID-19 pandemic.
Point-of-care Glucose Testing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global point-of-care glucose testing market is expected to experience significant growth during the forecast period from 2023 to 2030. The market is witnessing significant growth and is driven by various factors. This market analysis aims to provide a simplified overview of the market dynamics. Point-of-care glucose testing refers to the testing of blood glucose levels at or near the patient's location, providing quick and convenient results. The market is fuelled by the increasing prevalence of diabetes worldwide, leading to a rising demand for glucose testing devices. Factors such as the need for immediate diagnosis, effective disease management, and convenience for patients contribute to the market's growth. However, the market faces challenges such as the high cost of testing devices and regulatory requirements for accuracy and quality control.
Despite these challenges, there are opportunities for market growth, such as the integration of glucose testing devices with digital health platforms and the focus on remote patient monitoring. These trends enable seamless data sharing, real-time monitoring, and improved disease management. Overall, the global point-of-care glucose testing market is dynamic and driven by the growing demand for efficient and convenient glucose monitoring solutions in the healthcare industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.3 billion |
| Market size value in 2031 | USD 4.78 billion |
| Growth Rate | 4.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Point-of-care Glucose Testing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Point-of-care Glucose Testing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Point-of-care Glucose Testing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Point-of-care Glucose Testing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Point-of-care Glucose Testing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Point-of-care Glucose Testing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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