Market Overview: The global point-of-care (PoCT) glucose testing market had a value of USD 6.39 billion in 2020 and is anticipated to exhibit a compound annual growth rate (CAGR) of 3.12% during the projected period. Key drivers for market revenue growth include the increasing prevalence of diabetes, a growing preference for at-home testing and treatment, a rising demand for bedside monitoring, and the expanding interest in point-of-care testing. Furthermore, the advantages of point-of-care testing, such as the ability to diagnose and test glucose levels at a patient’s home, user-friendly operation, and reduced testing errors, are expected to further stimulate market expansion.
Segments Covered in the Report: The report provides historical data and forecasts revenue growth at a global, regional, and country level and offers an analysis of market trends within each of the sub-segments from 2018 to 2028. The report segments the point-of-care glucose testing market based on product type, testing site, end-use, and region.
Market Report Scope:
- Market size in 2020: USD 6.39 Billion
- CAGR (2020 – 2028): 3.12%
- Revenue forecast
Market Dynamics: Driver: The rising prevalence of diabetes and the increasing preference for home-care settings are key factors propelling market growth. Diabetes has seen a significant increase worldwide due to factors such as an aging population, urbanization, unhealthy lifestyle choices, obesity, and physical inactivity. Low- and middle-income countries, in particular, experience higher diabetes prevalence due to insufficient healthcare infrastructure and limited awareness about periodic glucose testing. In these regions, the adoption of portable point-of-care glucose testing devices has been accelerated due to the high costs of laboratory tests and the absence of standard infrastructure.
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Advantages like quick turnaround times, the clinical significance of managing in patients with diabetes, minimal operating durations, and swift decision-making processes are anticipated to further drive market growth. Continuous technological enhancements aimed at improving the accuracy and cost-effectiveness of point-of-care glucose testing devices, along with a growing number of product launches, are expected to make significant contributions to market growth. However, challenges related to accuracy in existing devices and rigorous regulatory approval processes are likely to somewhat impede market expansion in the future.
Restraint: Low accuracy in some glucose testing devices is expected to restrain market growth. The accuracy of point-of-care glucose testing devices has long been a subject of debate. The challenge lies in the potential harm to patients resulting from inaccurate test results, which can lead to frequent false positives and false negatives, causing misdiagnosis. Many point-of-care devices measure whole blood and hematocrit variations in patients, which can introduce errors. To address these concerns and prevent misdiagnosis, new standards for approval have been established by organizations like the International Organization for Standardization and the Clinical and Laboratory Standards Institute. Therefore, the low accuracy of devices and strict regulatory approval processes are likely to have a significant impact on market growth in the future.
Type Outlook: Regarding product types, the global point-of-care glucose testing market is divided into strips, lancets and lancing devices, and meters. The meters segment is expected to hold the largest share of revenue in the global market over the forecast period due to the increased use of glucometers in home care settings and the growing preference for home-based self-monitoring of glucose levels. Recent product launches of advanced glucose meters to meet the rising demand for Continuous Glucose Monitoring across various settings, including hospitals and clinics, have contributed significantly to the revenue growth of this segment.
Testing Site Outlook: The market can be segmented based on testing sites into fingertip and alternate site testing. The fingertip segment is projected to experience significant revenue growth during the forecast period because fingertip pricking is the preferred method for glucose testing. Collecting blood samples from fingertips is a conventional and rapid method for monitoring glucose levels accurately. The alternate site testing segment is also expected to record considerable revenue growth in the forecast period, thanks to various benefits, including less pain at the collection site, reduced infection risks, and quick sample collection.
End-use Outlook: In terms of end-use, the market is categorized into professional diagnostic centers, hospitals and clinics, home care settings, and others. The home care settings segment is anticipated to register robust revenue growth with a compounded annual growth rate (CAGR) over the forecast period. This is driven by a shift in consumer preference toward home healthcare settings, the availability of advanced glucose testing products, technological advancements in glucometers, and cost-effective diagnostic and testing approaches compared to other modalities. Moreover, the growing need for accurate and timely glucose measurement to achieve better control over glucose levels and timely intervention in case of fluctuations is a key factor contributing to the revenue growth of this segment.
Competitive Landscape: The competitive landscape of the global point-of-care glucose testing market is fragmented and includes numerous players on both a global and regional scale. Key players are actively engaged in product development and advancement, mergers and acquisitions, collaborations, partnerships, and extensive research and development activities to expand their customer base, meet the growing global demand, and establish a strong presence in the market. Key companies in this market include Roche Diabetes Care, LifeScan IP Holdings, LLC, Abbott, Ascensia Diabetes Care, Trividia Health, Nova Biomedical, Nipro, ACON Laboratories, Inc., Prodigy Diabetes Care, LLC, Bayer AG/Ascensia Diabetes Care Holdings AG, and EKF Diagnostics, among others.
Point-of-care glucose testing primarily serves the purpose of monitoring diabetes patients. This practice involves determining glucose levels in the blood to diagnose and track diabetes mellitus. Notably, approximately 11% of the U.S. population has impaired glucose tolerance, while nearly 9% have diabetes mellitus. Recent technological advancements and extensive research and development efforts have led to improved precision and accuracy in portable glucose testing devices. Such devices reduce turnaround times and enhance patient care outcomes. The majority of point-of-care testing methods involve using a drop of blood from a finger prick, without the need to break down red blood cells. This minimally invasive approach allows real-time bedside glucose monitoring without requiring a continuous intravenous catheter with a glucose drip attached to it. Furthermore, advancements in technology have given rise to handheld, lightweight, and portable devices with enhanced connectivity features. These devices have become central to near-patient glucose monitoring in hospitals and clinical settings globally. They enable patients to actively participate in managing their health, which boosts the demand for Patient Engagement Solutions. This trend is expected to persist and propel market growth.
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