The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Point-of-Care Glucose Testing Global Market Report 2024, the point-of-care glucose testing market is expected to show significant growth in the forecast period.

The point-of-care glucose testing market has witnessed robust growth in recent years, a trend poised to continue in the foreseeable future. Here’s a snapshot of the market’s trajectory:

Market Overview

• Strong growth trajectory: From $4.63 billion in 2023 to $4.88 billion in 2024 at a CAGR of 5.4%
• Forecasted growth: Expected to reach $5.99 billion in 2028 at a CAGR of 5.3%
• Key drivers: Growing prevalence of diabetes, increased awareness of diabetes management, expansion of aging population, rise in healthcare infrastructure, adoption of point-of-care testing.

Diabetes: Catalyst for Market Surge

The surge in diabetes cases globally is a significant driver behind the growth of the point-of-care glucose testing market:

• Prevalence of diabetes: Around 37.3 million people in the US had diabetes in 2021.
• Global projections: Expected increase from 643 million in 2030 to 783 million by 2045.
• Market players: Major companies driving growth include F. Hoffmann-La Roche Ltd., Abbott Laboratories Inc., Danaher Corporation, among others.

View More On The Point-of-Care Glucose Testing Market Report 2024 – https://www.thebusinessresearchcompany.com/report/point-of-care-glucose-testing-global-market-report

Innovation Driving Market Dynamics

Innovation is at the forefront of market expansion, with companies investing in cutting-edge solutions:

• Product innovation: Companies focus on developing advanced products to enhance market position.
• Example: F. Hoffmann-La Roche AG introduced Cobas Pulse, a handheld device with automated glucose test strip reader and touchscreen capabilities.
• Strategic acquisitions: Johnson & Johnson’s acquisition of Inverness Medical Technology for $1.3 billion aims to bolster its glucose testing product portfolio.

Market Segmentation

Understanding the market segments is crucial for stakeholders to strategize effectively:

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

Regional Insights

• North America: Largest region in the point-of-care glucose testing market in 2023.

Future Outlook

Looking ahead, several trends are expected to shape the future of point-of-care glucose testing:

• Wearable devices: Development of wearable glucose monitoring devices for seamless monitoring.
• Smartphone integration: Integration of smartphone connectivity in glucose testing for enhanced accessibility.
• Home healthcare: Growth of point-of-care testing in home healthcare settings for convenience.
• AI integration: Adoption of artificial intelligence in glucose data analysis for more accurate insights.
• Remote patient monitoring: Expansion of remote patient monitoring for diabetes for proactive care.

Conclusion

The point-of-care glucose testing market is on a trajectory of substantial growth, driven by factors like the increasing prevalence of diabetes and technological innovations. As companies continue to innovate and expand their offerings, the landscape of diabetes management is set to evolve, promising better outcomes for patients worldwide.

Request A Sample Of The Global Point-of-Care Glucose Testing Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=12207&type=smp