Germany Point-of-Care Glucose Testing Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Germany Point-of-Care Glucose Testing Market

Glucose testing is an essential procedure as inappropriate glucose levels are indicator of serious medical issues. Glucose testing aids in diagnosis, prevention, and treatment of overweight or diabetes, low blood sugar, and high blood pressure. Point-of-care (PoC) glucose testing is an effective and rapid substitute to typical lab testing, with results available in less than ten minutes. The Germany point-of-care glucose testing market is projected to witness substantial traction during the forecast period in terms of revenue. Factors such as increase in awareness about pre-diabetes, unhealthy lifestyle, and surge in the elderly population are projected to surge the sales of glucose testing devices in Germany.

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Rise in diabetes incidence in Germany is a major driver of the point-of-care glucose testing market. Blood glucose level testing is one of the most essential tests performed for quick detection and management of diabetes, which is increasing demand for point-of-care glucose testing devices in the country. In addition, surge in usage of wearable glucose testing gadgets for self-monitoring blood sugar levels is anticipated to offer growth opportunities in the market. However, limited reimbursement schemes and high cost of glucose testing devices are the major factors restraining the growth of the Germany point-of-care glucose testing market. In addition, short lifespan of glucose testing equipment and shortage of experienced technicians to operate the devices hamper the market growth. Furthermore, dearth of suitable infrastructure and lack of technological understanding in rural regions are expected to impede the growth of the Germany point-of-care glucose testing market.

The presence of several established players in the Germany point-of-care glucose testing market creates opportunities for market participants to launch innovative and technologically advanced products. Companies are investing in R&D to provide advanced products in terms of accuracy and efficiency, which is expected to increase their sales. Furthermore, boost in usage of smart glucose meters in clinics and hospitals is projected to open new market prospects. The trend of introducing new product offerings is anticipated to increase in the Germany point-of-care glucose testing market in the near future. In addition, manufacturers are expected to focus on launching products, which are cost-effective and offer advanced features to meet current customer needs. Product launches, investments, and collaborations are some of the other market strategies, which companies are projected to adopt in the market.

The Germany point-of-care glucose testing market is segmented on the basis of product type, application, and end user. By product type the market is divided into lancing devices & strips and blood-glucose meters. According to application, the market is bifurcated into type 1 diabetes and type 2 diabetes. As per end user, the market is classified into hospitals & clinics, home care settings, and others. Rise in prevalence of diabetes in the nation is increasing the demand for point-of-care glucose testing technology. In accordance with WHO forecast, the number of diabetics in Germany are expected to reach 3.2 million by 2035, presenting considerable opportunities for the Germany point-of-care glucose testing market.

Key market players are focusing on increasing their market presence through new product launches in the country. For instance, in March 2020, Abbott launched Freestyle Libre 2, a real time glucose monitoring system. The device offers various benefits in the form of improved precision and simplicity. In addition, the deployment of real time technology is expected to open new opportunities for industry players in the country. Product developments and partnerships are other market strategies adopted by key players in Germany point-of-care glucose testing market. For instance, in 2018, Roche Diagnostics and Novo Nordisk partnered to support the use of connected insulin pens in people with type 1 diabetes, which enables them to track and manage insulin dosage. The market players focus on leveraging technologies such as Artificial Intelligence (AI) for the development of advanced products. Pricing strategy adopted by companies in the Germany point-of-care glucose testing market is one of the key strategies for attaining profitability. The market players focus on offering cost-effective products to customers, targeting both private and public healthcare institutions. With competitive pricing, companies are able to garner a high share of the market. 

Germany Point-of-Care Glucose Testing Market By Product Type (Lancing Devices and Strips, Blood-Glucose Meter), By Application (Type-1 Diabetes, Type-2 Diabetes), By End User (Hospitals and Clinics, Home Care Settings, Others)

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