Point-Of-Care Glucose Testing Market Size Is Expected To Reach USD 4.5 Billion By 2030

 Point-of-Care Glucose Testing Industry Overview

The global point-of-care glucose testing market size is expected to reach USD 4.5 billion by 2030, growing at a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. An increase in the demand for Point-of-Care Testing (POCT) has been witnessed in recent years. As compared to the conventional laboratory testing performed in central lab settings, glucose POCT aids in performing effective diagnosis at the patient’s bedside. The easy and convenient operation of POCT has largely favored the growing usage of glucose meters across medical settings. The demand for performing bedside monitoring of blood sugar levels efficiently in a capillary blood sample and the need to ensure better management of carbohydrate metabolism have propelled the companies to launch innovative glucose meters in the market.

Various companies are investing in the development of needle-less devices to offer painless management of diabetes. For instance, GlucoTrack, a product manufactured by Integrity Applications (Israel), performs quantification using electromagnetic, ultrasonic, and thermal waves in combination. Eversense, painless glucose monitoring subcutaneous implant by Senseonics, quantifies glucose levels in interstitial fluid when placed beneath the skin. This is followed by data transmission to show the results in real-time. The latest no-code monitoring systems help in minimizing the errors that occur due to incorrect entry of strip codes. Whereas, others are incorporating noble metals, such as silver, gold, and platinum, which effectively reduce the electrical noise further improving accuracy.


Point-of-Care Glucose Testing Market Segmentation

Grand View Research has segmented the global point-of-care glucose testing market based on product, end use and region:

Based on the Product, the market is segmented into Accu Check Aviva Meter, Onetouch Verio Flex, i-STAT, Freestyle Lite, Bayer CONTOUR Blood Glucose Monitoring System, True Metrix, Accu-Chek Inform II, StatStrip, and Others

  • The others product segment accounted for the largest share of more than 54% of the global revenue in 2021 and will continue expanding at a steady CAGR during the forecast period. POC monitoring devices allow home-based self-monitoring of blood glucose levels and help patients perform routine activities with ease.
  • The Accu-Chek Inform II segment held the second-largest share in 2021. The FreeStyle Lite product segment is expected to witness the fastest growth rate over the forecast period.

Key Companies & Market Share Insights

The market is highly fragmented with the presence of many large-, small-, and medium-scale vendors. Key players are focusing on multiple growth strategies, such as new product launches, expansions, collaborations, partnerships, and acquisitions. In June 2020, Tandem Diabetes Care and Abbott finalized an agreement to commercialize and develop an integrated diabetes solution that combines Tandem’s insulin delivery system and Abbott’s CGM technology. Some prominent players in the global point-of-care glucose testing market include:

  • 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

 

Order a free sample PDF of the Point-of-Care Glucose Testing Market Intelligence Study, published by Grand View Research.

About Grand View Research

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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