Point-of-Care Glucose Testing Market is anticipated to attain a size of US$ 5.8 billion by the year 2032

The global point-of-care glucose testing market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 4.3% from 2022 to 2032, according to a report published by TMR. By 2032, the market is anticipated to reach a valuation of US$ 5.8 billion, marking a significant upswing from the projected closing value of US$ 4.0 billion in 2023.

Several key drivers are expected to influence the market positively. These include the increasing geriatric population, the rapid and timely results facilitated by point-of-care (POC) screening, and the growing utilization of Electronic Medical Records (EMRs).

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Factors such as the rising number of diabetes patients, technological advancements in the field, and heightened awareness regarding the benefits of point-of-care glucose testing contribute to the market's expansion. Notably, the emergence of needle-free blood glucose monitoring devices is providing patients with painless options for diabetes care.

The convenience offered by point-of-care glucose testing, allowing for rapid glucose readings without the need for a laboratory or hospital visit, is a key driver. Patients can monitor their glucose levels easily at home or other non-laboratory settings.

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Key trends and opportunities in the market include ongoing advancements in POC glucose testing technologies, the integration of glucose testing into point-of-care settings, and the growth of telemedicine and remote monitoring services. The latter enables patients to share their glucose data with healthcare providers for remote consultations and treatment adjustments.

Regionally, North America is anticipated to dominate the market, driven by prominent players such as Abbott, Nova Medical, and Prodigy Diabetes Care, LLC. Factors contributing to North America's growth include government initiatives, increased spending on healthcare, and awareness campaigns focusing on advanced glucose meters.

The report identifies key market segments, with the Accu-Check Inform II segment expected to consistently hold a significant share. Additionally, home care settings are predicted to dominate the end-user segment.

The competitive landscape of the market is highly fragmented, featuring large, small, and medium-scale vendors. Key players such as F. Hoffmann-La Roche Ltd., Abbott, Nipro, Nova Biomedical, ACON Laboratories, Trividia Health, Prodigy Diabetes Care, Bayer AG/Ascensia Diabetes Care Holdings AG, and EKF Diagnostics are employing diverse growth strategies, including new product launches, expansions, collaborations, partnerships, and acquisitions.

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This release was published on openPR.