Point-of-Care Glucose Testing Market Size, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Point-of-Care Glucose Testing market.

Trusted Business Insights presents an updated and Latest Study on Point-of-Care Glucose Testing Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Point-of-Care Glucose Testing market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: Point-of-Care Glucose Testing Market

The global point-of-care glucose testing market size was estimated at USD 6.02 billion in 2018 and is projected to grow at a CAGR of 2.82% during the forecast period. Technological advancements targeted towards developing novel blood glucose tests are propelled by the urge to avoid long waiting hours for test results procured from the laboratory among patients and doctors. Increasing rapidity in the workflow of diagnosis across medical settings is the main agenda behind developing and encouraging the use of point-of-care blood glucose tests further contributing to the market growth.
Significant elevations in the prevalence of diabetes across the globe recently has exerted pressure on the healthcare system to ensure better management of people diagnosed with diabetes. This is attributed to the fact that diabetic patients further become susceptible to blindness, cardiovascular disorders, nerve damage, and kidney failure among other associated ailments.

The introduction of favorable regulatory policies aimed at promoting point-of-care glucose testing is expected to serve as a high impact rendering driver for the market. For example, in the U.S., Clinical Laboratory Improvement Amendments (CLIA) implications have been implemented to boost the adoption of point-of-care tests.
Emerging monitoring technologies including standalone monitoring devices that are designed for patients interested in self-monitoring of blood glucose levels is set to boost the market growth. In addition, among the diabetes care devices distributed in 2012, glucose monitoring devices ranked the highest followed by insulin delivery devices; and this trend has continued since then. Launch of new monitoring technologies is set to drive the manufactures to focus on innovation ultimately contributing to the revenue generated in the point-of-care glucose testing market.
In addition, the rising incorporation of data management platforms in glucose monitoring has improved the diabetes therapeutics, offering better patient satisfaction and care. Thus, companies are keenly investing in the development of connecting medical devices with data management software and programs.
For instance, LabStyle Innovations Corp.-a U.S. based manufacturer of its flagship diabetes management solution has developed a software integrated monitoring technology. The flagship product namely, Dario is a personalized compact glucose monitoring system, that is inclusive of all in one glucose meter plugged directly into the smartphone. This has made management of personalized information easier for diabetic patients.
Product
Type Insights of Point-of-Care Glucose Testing Market

POC monitoring devices allow home-based self-monitoring of blood glucose levels, which helps patients perform routine activities with ease. However, these devices are also being used in inpatient settings as they are easy to use while offering quick results. Several glucose meters have been launched in the industry to suffice the significant need for diabetes monitoring technologies across hospitals, clinics, and other medical settings.
i-STAT has generated the highest revenue among eight products analyzed in the market study. This is attributed to multi-utility applications of the product in blood analysis. In addition, i-STAT system is designed to offer quality laboratory results across hospitals, emergency department, critical care, and laboratory.

Whereas, Accu-Chek Inform II meter generated the highest revenue in 2018 and is expected to maintain its dominance throughout the forecast period. Accu-Chek Inform II is manufactured by F. Hoffmann-La Roche Ltd and has been employed in more than 2,750 hospitals across 48 countries.

Regional Insights of Point-of-Care Glucose Testing Market

North America generated the largest revenue in the market in 2018 and is expected to maintain this trend over the forecast period. This region is home to several key players such as Abbott, Nova Biomedical, and Prodigy Diabetes Care, LLC.
This has increased the access to glucose testing products, thereby contributing to the revenue generated by North America. Whereas, development of healthcare infrastructure and a higher prevalence of diabetes are among the factors expected to drive the market growth in Asia Pacific countries.
Furthermore, the rise in adoption of miniaturized models and measures taken for reducing stays in hospitals and clinics is expected to fuel the demand for glucose POC testing products making Asia Pacific the fastest-growing region..
Point-of-Care Glucose Testing Market Insights
Over the years, the market has witnessed a substantial number of consolidations. For example, in October 2018, Platinum Equity acquired LifeScan -an integrated business unit of Johnson & Johnson.
The acquisition was completed for approximately USD 2.1 billion. Since LifeScan is one of the leading manufacturers of blood glucose monitoring products; Platinum Equity is expected to strengthen its position in the glucose POC testing industry in the near future.
Some of the key players in the market include F. Hoffmann-La Roche Ltd., Abbott, Nipro, Nova Biomedical, ACON Laboratories, Inc., Trividia Health, Inc., Prodigy Diabetes Care, LLC, Bayer AG/Ascensia Diabetes Care Holdings AG, and EKF Diagnostics.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Point-of-Care Glucose Testing Market Research Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global point-of-care glucose testing market report on the basis of product and region:

Product Outlook {Revenue (USD Million) and Volume (Thousand Units), 2014 – 2025}

Accu Check Aviva Meter

Onetouch Verio Flex

i-STAT

Bayer CONTOUR blood glucose monitoring system

Freestyle Lite

True Metrix

Accu-Chek Inform II

StatStrip

 

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