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Point-of-Care Glucose Testing Market: Major Trends Reshaping the Future of the Industry
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Point-of-Care Glucose Testing Industry Market Size Be by 2025?
In recent times, the size of the point-of-care glucose testing market has continually expanded. Expected to increase from $4.91 billion in 2024 to $5.15 billion in 2025 with a compound annual growth rate (CAGR) of 4.9%, the market has experienced growth previously due to factors such as a heightened occurrence of diabetes, enhanced understanding of diabetes control, an expanding older population, improved healthcare infrastructures, and the acceptance of point-of-care testing.
What's the Long-Term Growth Forecast for the Point-of-Care Glucose Testing Market Size Through 2029?
Anticipations are high for the point-of-care glucose testing market; strong growth is predicted with the market size potentially reaching $6.51 billion by 2029, a compound annual growth rate (CAGR) of 6.0%. The expected growth over the forecast period is due to the increased prevalence of telemedicine services, heightened focus on personalized medicine for diabetes management, launching of diabetes management programs, escalated investment in glucose testing R&D, and the uptake of continuous glucose monitoring. Notable market trends for the forecast period encompass the creation of wearable glucose monitoring devices, the incorporation of smartphone connectivity with glucose testing, the expansion of point-of-care testing in at-home healthcare environments, the utilization of artificial intelligence for glucose data analysis, and the amplified usage of remote patient monitoring for diabetes conditions.
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What Are the Key Growth Drivers Fueling the Point-of-Care Glucose Testing Market Expansion?
The anticipated rise in diabetes incidence is expected to drive the point-of-care glucose testing market's growth. Diabetes, a persistent metabolic condition, results in high blood glucose levels, causing severe harm to the heart, blood vessels, eyes, kidneys, and nerves over time. Point-of-care glucose testing, a commonly used technology, is employed to determine the levels of glucose in hospitalised patients. The technology aids in making timely treatment decisions in accordance with variations in glycaemia, thereby improving therapeutic output and diabetes control. For instance, The National Health Service (NHS England), a UK government-funded healthcare system, reported in June 2024 that the number of individuals identified as having pre-diabetes in England had increased by 18% to 3,615,330 in 2023, up from 3,065,825 in 2022. Moreover, in the under-40 demographic, the number of cases has seen an increase of almost 25%, rising from 173,166 in 2022 to 216,440 in 2023. Thus, the increasing incidence of diabetes is fuelling the point-of-care glucose testing market's growth.
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What Are the Key Trends Driving Point-of-Care Glucose Testing Market Growth?
In the point-of-care glucose testing market, product innovation is emerging as a crucial trend. The primary focus of top-notch companies in this market is the development of cutting-edge products to consolidate their market standing. For instance, in January 2022, F. Hoffmann-La Roche AG, a healthcare firm from Switzerland, unveiled its new point-of-care blood glucose monitor, Cobas Pulse, designed specifically for healthcare personnel. This device comes with an accessory that mimics a touchscreen smartphone and runs various applications. The Cobas Pulse is a pocketable instrument comprising an automated glucose test strip reader, a camera, and a touchscreen, which facilitates the recording of diagnostic data. Encased in a sturdy casing that can be sterilized, it is suitable for all age brackets-right from neonates to critical care patients. It also aims to enhance the productivity of doctors by integrating the Glucommander dosage software on the blood glucose reader and furnishing downloadable decision-support apps from companies like Smart4Diagnostics, CardioSignal, and SteadySense.
How Is the Point-of-Care Glucose Testing Market Segmented?
The point-of-care glucose testing market covered in this report is segmented -
1) By Product: Lancet And Lancing Devices, Strips, Meters
2) By Testing Site: Fingertips, Alternate Site Testing
3) By Applications: Type-1 Diabetes, Type-2 Diabetes
4) By End-User: Professional Diagnostic Centers, Hospitals And Clinics, Home Care Settings, Other End Users
Subsegments:
1) By Lancet And Lancing Devices: Single-Use Lancets, Multi-Use Lancets, Adjustable Lancing Devices
2) By Strips: Glucose Test Strips, ket*one Test Strips, Combo Strips (Glucose And ket*one)
3) By Meters: Blood Glucose Meters, Continuous Glucose Monitoring (CGM) Meters, Bluetooth-Enabled Meters
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Which Companies Are Leading the Charge in Point-of-Care Glucose Testing Market Innovation?
Major companies operating in the point-of-care glucose testing market include F Hoffmann-La Roche Ltd., Abbott Laboratories Inc., Danaher Corporation, Siemens Healthineers, Becton, dic*kinson and Company, TaiDoc Technology Corporation, B. Braun Melsungen AG, Beckman Coulter Inc., Nipro Corporation, Dexcom Inc., Bio-Rad Laboratories Inc., LifeScan Inc., Nova Biomedical Corporation, Ypsomed AG, Ascensia Diabetes Care Holdings AG, Trividia Health Inc., Radiometer Medical ApS, HemoCue AB, EKF Diagnostics Holdings plc, Trinity Biotech plc, Bionime Corporation, PTS Diagnostics, ForaCare Inc., Menarini Diagnostics, ACON Laboratories Inc., Senseonics Holdings Inc., Prodigy Diabetes Care LLC, Nemaura Medical Inc.
Which Regions Are Leading the Global Point-of-Care Glucose Testing Market in Revenue?
North America was the largest region in the point-of-care glucose testing market in 2024. The regions covered in the point-of-care glucose testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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