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The point of care (POC) glucose testing market share is expected to increase to USD 972.07 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.
This point of care glucose testing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers point of care (POC) glucose testing market segmentations by type (strips, lancets and lancing devices, and meters) and geography (North America, Europe, Asia, and Rest of World (ROW)). The point-of-care glucose testing market report also offers information on several market vendors, including Abbott Laboratories, ACON Laboratories Inc., Bayer AG, Becton Dickinson and Co., Danaher Corp., EKF Diagnostics Holdings Plc, F. Hoffmann La Roche Ltd., Johnson and Johnson, LifeScan IP Holdings LLC, Nipro Corp., Nova Biomedical Corp., PHC Holdings Corp., Prodigy Diabetes Care LLC, PTS Diagnostics, Sekisui Medical Co. Ltd., Siemens Healthineers AG, Trinity Biotech Plc, and Trivida Health Inc. among others.
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The increase in the number of diabetes cases and rising awareness about diabetes is notably driving the point of care glucose testing market growth, although factors such as lower diagnosis and treatment rate may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the point-of-care glucose testing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Point of Care Glucose Testing Market Driver
The increase in the number of diabetes cases and rising awareness about diabetes is one of the key drivers supporting the point of care glucose testing market growth. Though diabetes can often be controlled through a physically active lifestyle, a healthy diet, and medication. However, pre-diabetes sets in before the onset of actual diabetes, which is considered a serious health condition wherein the blood sugar levels are higher than normal. Simultaneously, there is an increase in the number of diabetic patients, which has prompted many organizations to launch awareness programs for the management and control of diabetes. Such increasing awareness will drive the point of care glucose testing market growth during the forecast period.
Key Point of Care Glucose Testing Market Trend
Focus on introducing low-cost test strips is one of the key point of care (POC) glucose testing market trends contributing to the market growth. Vendors are focusing on offering various technologically advanced point-of-care glucose testing products at a lower cost to remain ahead of their competitors in the market. Meanwhile, people prefer strips made from silk, as they are inexpensive compared with paper and plastic strips. Silk strips only require a spray, as the coated threads of silk can conduct the electrochemical signals, which, in turn, can reduce the costs incurred on mechanical devices. Enzyme-sprayed silk yarn is woven together with electrodes that allow the fabric sensors to conduct the electrical charge on their own. Hence, the increasing demand for low-cost strips will drive the growth of the point of care glucose testing market in focus during the forecast period.
Key Point of Care Glucose Testing Market Challenge
Lower diagnosis and treatment rate is one of the factors hampering the point of care glucose testing market growth. Primarily, in the emerging countries there is a higher prevalence of delayed diagnosis because chronic diseases such as diabetes mellitus are not well-known among the general public. Meanwhile, limited access to advanced healthcare infrastructure may hamper the market growth. According to the data published by the International Diabetes Federation in 2021, the number of undiagnosed diabetic patients in APAC was over 55%, with countries such as India, China, and Indonesia leading the way. Such an increase in the number of undiagnostic patients will hamper the point of care glucose testing market growth during the forecast period.
This point of care (POC) glucose testing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global point-of-care glucose testing market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the point of care glucose testing market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the POC glucose testing market encompasses successful business strategies deployed by the key vendors. The POC glucose testing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The point of care glucose testing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the point-of-care glucose testing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the point-of-care glucose testing market in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia.
An increase in technological advances and the high incidence of Type 1 and Type 2 diabetes will facilitate the POC glucose testing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 severely impacted the regional market. However, the lifting of lockdowns in 2021, followed by a rise in the rescheduling of visits to physicians by patients, is expected to boost the growth of the regional point-of-care glucose testing market during the forecast period.
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The point of care glucose testing market share growth by the strips segment will be significant during the forecast period. Point-of-care glucose testing strips are thin paper or plastic strips that are used along with blood glucose meters to measure the glucose levels in the blood of people with diabetes. These strips help patients control and manage their diabetes. Point-of-care glucose testing strips are increasingly used in large and medium-sized hospitals, owing to increased visits by patients to both outpatient and inpatient healthcare facilities. Such an increasing use of Point-of-care glucose testing strips will drive the point of care glucose testing market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the point of care glucose testing market size and actionable market insights on post COVID-19 impact on each segment.
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Point of Care Glucose Testing Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.44% |
Market growth 2022-2026 |
$ 972.07 million |
Market structure |
Fragmented |
YoY growth (%) |
4.29 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key consumer countries |
US, Canada, UK, China, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, ACON Laboratories Inc., Bayer AG, Becton Dickinson and Co., Danaher Corp., EKF Diagnostics Holdings Plc, F. Hoffmann La Roche Ltd., Johnson and Johnson, LifeScan IP Holdings LLC, Nipro Corp., Nova Biomedical Corp., PHC Holdings Corp., Prodigy Diabetes Care LLC, PTS Diagnostics, Sekisui Medical Co. Ltd., Siemens Healthineers AG, Trinity Biotech Plc, and Trivida Health Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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