Global network point-of care glucose testing market was worth USD 1.3 billion in 2020. It is projected to grow at a compound annual rate (CAGR of 3.9%) between 2021 and 2028. The market's growth is driven by high demand for remote monitoring and data-based patient analysis. This can also be integrated with advanced data transfer techniques. The number of diabetes cases is rising in many countries throughout Asia Pacific and Middle East. According to the International Diabetes Federation in India, 72,946,400 diabetes cases were reported in 2017. The demand for diabetes devices will rise due to the large growth potential in fast-growing countries and increasing awareness about diabetes.
The network-based point of-care glucose monitoring systems proved effective in diagnosing and monitoring COVID-19 patients, particularly in makeshift hospitals. Because diabetic patients can be susceptible to many complications, glucose monitoring is essential for COVID-19 patients. Many hospitals have continuous glucose monitors which can give real-time glucose readings and can be accessed from other areas. The large amount of data collected during this process allows healthcare providers to tailor the treatment plan for each patient. The market will grow due to integration with telemedicine and expansion of usage in-home healthcare settings.
Diabetes mellitus is on the rise and is a major cause of many disorders such as stroke, kidney disease, and heart disease. The poor projection of COVID-19 is associated with diabetes. Therefore, it has been gaining attention for both diabetes and COVID-19 patients. POCT is a leading market player due to its many benefits, including ease of use, no need to train professionals, low price and quick turnaround time. The design and development of blood glucose monitoring devices is a major market activity.
Many government and non-profit organizations have launched initiatives to raise diabetes awareness. These efforts are expected to encourage the use of advanced glucose meters. The mDiabetes mobile health initiative was launched by the WHO Country Office for India and the Ministry of Health and Family Welfare. This initiative aims to increase awareness and early diagnosis of diabetes. The WHO and IDF work together to prevent and manage diabetes worldwide and improve quality of life. The WHO Diabetes Program, for example, is designed to prevent type 2 diabetes and reduce complications. It also improves the quality of life in people living with diabetes.
In 2020, Accu-Chek Inform II accounted for the largest revenue share at 45.0%. Accu-Chek Inform II glucose meters are designed to be used in-vitro for diagnosing blood glucose levels. The glucose meter measures blood glucose levels in whole, capillary, veiny, neonatal, arterial, and whole blood samples. Accu-Chek Inform II is a bedside device that assists in glucose measurement and automates data management from blood glucose tests.
i-STAT is forecast to grow at a 4.2% CAGR over the forecast period. The portable clinical analyzer i-STAT, developed by Abbott, is used at the patient's bedside to perform critical care tests for electrolytes and coagulation. There are a variety of cartridges that can be used to monitor different analytes. This eliminates the need to have multiple analyzers for each analyte.
North America was the dominant market with a 35.0% revenue share in 2020. One of the key factors driving regional market growth is the presence of market leaders such as Abbott, Nova Biomedical, Prodigy Diabetes Care, LLC. This has led to increased availability of glucose testing products and a rise in revenue generation. Additionally, advanced products can be adopted quickly because of favorable reimbursement policies.
Europe is forecast to grow at a profitable rate over the forecast period. Universal healthcare systems and faster CE approvals are expected to increase the use of point-of care glucose testing devices. This growth can be attributed in part to the rising prevalence of diabetes and increasing demand for quick diagnostic tools for diabetes management. There are also local players that have diverse product portfolios for POC diagnosis. HemoCue AB, a POC diagnostics company based in Sweden, offers POC testing solutions to improve diabetes management.
A few large players dominate the market. In the coming years, new players will be attracted by increasing demand and technological advances. New product launches will be made easier by the integration of advanced data transfer technologies such as Infrared and BLE. To stay competitive, existing products are constantly being redesigned by players. Telemedicine integration is expected to increase demand for local and global brands in developing nations. The following are some of the major players in the global network-point-of-care glucose testing market:
F. Hoffmann-La Roche Ltd.
Abbott
Nova Biomedical
Bayer AG/Ascensia diabetes care holdings AG
Danaher
Up Market Research published a new report titled “Network Point-of-Care Glucose Testing Market research report which is segmented by Product (Accu-Chek Inform II, BAROzen H Expert Plus, i-STAT, CareSens Expert Plus, StatStrip, HemoCue), By Players/Companies Danaher, F Hoffmann-La Roche Ltd, Nova Biomedical, Â Abbott, Bayer AG/Ascensia diabetes care holdings AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Network Point-of-Care Glucose Testing Market Research Report |
By Product | Accu-Chek Inform II, BAROzen H Expert Plus, i-STAT, CareSens Expert Plus, StatStrip, HemoCue |
By Companies | Danaher, F Hoffmann-La Roche Ltd, Nova Biomedical, Â Abbott, Bayer AG/Ascensia diabetes care holdings AG |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 232 |
Number of Tables & Figures | 163 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Accu-Chek Inform II, BAROzen H Expert Plus, i-STAT, CareSens Expert Plus, StatStrip, HemoCue).
Network Point-of-Care Glucose Testing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Network Point-of-Care Glucose Testing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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