Tag: point-of-care glucose testing market forecast

Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!

What Growth Rate is Predicted for the Point-of-Care Glucose Testing Market for 2024-2033?

The market size for point-of-care glucose testing has seen a robust growth in the recent past, soaring from $4.63 billion in 2023 and projected to further increase to $4.88 billion in 2024, representing a compound annual growth rate (CAGR) of 5.4%. The accelerated growth experienced in the past can be linked to several factors including a rising incidence of diabetes, heightened awareness about diabetes control, a growing elderly population, improved healthcare infrastructure and the acceptance of point-of-care testing.

Within the next few years, the point-of-care glucose testing market is set to experience substantial growth, expanding to $5.99 billion by 2028 with a compound annual growth rate (CAGR) of 5.3%. This projected growth can be credited to the growth of telemedicine, an increased focus on personalized medicine for diabetes care, the advent of diabetes management programs, more investment into research and development for glucose testing, and the wide adoption of continuous glucose monitoring. Key trends foreseen during the forecast period include the creation of wearable glucose monitoring devices, incorporation of smartphone connectivity in glucose testing, rising popularity of point-of-care testing in home healthcare environments, adoption of artificial intelligence in glucose data analysis, and the deployment of remote patient monitoring for diabetes care.

Claim Your Free Sample of the Global Point-of-Care Glucose Testing Market Report Today!

https://www.thebusinessresearchcompany.com/sample.aspx?id=12207&type=smp

What Drivers Are Enhancing the point-of-care glucose testing Market’s Growth?

The point-of-care glucose testing market is projected to grow due to the increasing rates of diabetes. It is a chronic metabolic disorder that raises blood sugar levels, resulting in long-term harm to the heart, blood vessels, eyes, kidneys, and nerves. Point-of-care glucose testing is an often-used method to gauge glucose levels in hospitalized patients, enabling immediate treatment based on glycemia shifts and improving diabetes management efficiency and outcomes. For example, the US-based the Centers for Disease Control and Prevention reported that approximately 37.3 million people, or 11.3% of the US population, had diabetes in 2021. Moreover, the Belgium-based International Diabetes Federation noted that the number of global diabetes patients in November 2021 is projected to grow from 643 million (11.3%) in 2030 to 783 million (12.2%) by 2045. Consequently, the rising incidence of diabetes is contributing to the expansion of the point-of-care glucose testing market.

What Segments Are Central to the Point-of-Care Glucose Testing Market?

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

What Emerging Trends Are Influencing Point-of-Care Glucose Testing Industry Dynamics?

The increasing trend in the point-of-care glucose testing market is product innovation. The primary goal of the leading companies in this industry is to develop novel products, thereby solidifying their market position. For example, in January 2022, F. Hoffmann-La Roche AG, a healthcare company based in Switzerland, unveiled the Cobas Pulse. This new point-of-care blood glucose monitor caters to healthcare professionals. It comes with a companion device resembling a smartphone touchscreen equipped with its own applications. Cobas Pulse is a handheld instrument that features an automatic glucose test strip reader, a camera, and a touchscreen, making it easy to record diagnostic data. The device comes in a sturdy casing which can be cleaned and utilized with patients across all age groups, including newborns and those in intensive care. It also aims to assist doctors in managing their workflows better by incorporating the Glucommander dosage software onto the blood glucose reader, as well as offering downloadable decision-supporting apps from companies like Smart4Diagnostics, CardioSignal, and SteadySense.

Order Now for Fast Delivery of Your Point-of-Care Glucose Testing Market Report!

https://www.thebusinessresearchcompany.com/report/point-of-care-glucose-testing-global-market-report

Which Geographic Locations Are Critical to the Growth of the Point-of-Care Glucose Testing Market?

North America was the largest region in the point of care glucose testing market in 2023. 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.

The Point-of-Care Glucose Testing Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the point-of-care glucose testing market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Point-of-Care Glucose Testing Market Include

1. Point-of-Care Glucose Testing Market Executive Summary

2. Point-of-Care Glucose Testing Market Segments

3. Point-of-Care Glucose Testing Market Size And Template Market Growth Rate

4. Key Point-of-Care Glucose Testing Market Trends

5. Major Point-of-Care Glucose Testing Market Drivers

……

25. Key Mergers And Acquisitions In The Point-of-Care Glucose Testing Market

26. Top Point-of-Care Glucose Testing Companies

27. Point-of-Care Glucose Testing Market Opportunities And Strategies

28. Point-of-Care Glucose Testing Market, Conclusions And Recommendations

29. Appendix

Discover Related Reports by The Business Research Company:

Point-of-Care Glucose Testing Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/point-of-care-glucose-testing-global-market-report

Blood Glucose Meters Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/blood-glucose-meters-global-market-report

Glucose Biosensors Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/glucose-biosensors-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on:

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