The China point-of-care glucose testing market has experienced significant growth due to increase in the prevalence of diabetes in the country. According to the World Health Organization, the number of Chinese adults with diabetes has increased from 80 million in 2018 to 95 million in 2021. In addition, the National Health and Family Planning Commission in China has reported that the rate of obesity among Chinese adults has risen from 26.2% in 2017 to 27.5% in 2021. These factors have contributed to the growing demand for point-of-care blood glucose testing among the Chinese population. Moreover, presence of affordable glucose testing kits has bolstered market expansion. The government's initiatives to encourage lifestyle modifications aimed at mitigating the risk of diabetes, coupled with surge in awareness surrounding cutting-edge treatment alternatives for diabetes, are anticipated to further propel the growth of the China point-of-care glucose testing market. In addition, the market growth is anticipated to be propelled by rise in demand for home self-testing and swift access to blood glucose readings. Furthermore, introduction of cutting-edge advancements in glucose monitoring technology and increase in availability of smart devices that are compatible with glucose monitoring systems is expected to augment the demand for point-of-care glucose testing solutions. On the other hand, there exist several factors that impede growth of the China point-of-care glucose testing market. These factors encompass limited precision and dependability of point-of-care testing devices in comparison to laboratory-based testing methods, and intricacy of the technology. In addition, high costs associated with these solutions and lack of awareness & trained professionals capable of effectively utilizing testing kits serve as restraining factors. Moreover, the market's growth rate has been hindered by disruption caused by the COVID-19 pandemic.
However, one of the significant opportunities presented by the market pertains to ongoing progress of technologies, namely wearable glucose monitoring devices and self-testing techniques. Furthermore, proliferation of diagnostic centers and hospitals, particularly in rural regions, is expected to unveil numerous avenues for growth in the point-of-care glucose testing market. Moreover, rise in public interest in health and fitness is anticipated to deliver substantial momentum to the market.
The China point-of-care glucose testing market is segmented into product type, application, and end user. Further, on the basis of product type, the market is segregated into lancing devices & strips and blood-glucose meter. Depending on application, it is bifurcated into type-1 diabetes and type-2 diabetes. By end user, the market is classified into hospitals & clinics, home care settings, and others.
The Porter’s five forces analysis analyzes the competitive scenario of the China point-of-care glucose testing market and role of each stakeholder. These forces include the bargaining power of buyers, bargaining power of suppliers, threat of substitutes, threat of new entrants, and competitive rivalry. The threat of new entrants is comparatively low due to dominance of a few major players and high costs. The bargaining power of suppliers is high due to number of suppliers available in the market. The bargaining power of buyers is low as the market is predominantly controlled by a handful of multinational corporations. Moreover, owing to restriction in accessibility and high prices of point-of-care glucose testing kits, buyers possess minimal influence within the market.
The threat of substitutes is low as there is currently lack of alternative options within the glucose testing market in China. Nevertheless, emergence of novel technologies, such as biosensors, has the potential to foster increased competition in the forthcoming period. The competitive rivalry is high due to presence of major players in the market, including Sinocare Inc., Yicheng Electric Co., Ltd., TaiDoc Technology Corporation, Menarini Diagnostics, Arkray, Inc., Edan Instruments, Inc., Bioptik Technology, Inc., Infopia Co., Ltd., HemoCue AB, and Nova Biomedical. These players are consistently involved in the advancement of pioneering technologies and introduction of novel products, with the aim of attaining a competitive advantage over their competitors.
To conclude, in China, the progression of novel technologies, such as biosensors, is expected to present a multitude of prospects for the point-of-care glucose testing market in the foreseeable future. Furthermore, rise in the need to offer economically viable diabetes prevention methodologies is anticipated to drive the expansion of the market. Moreover, implementation of smart patient-centric healthcare solutions, coupled with heightened awareness regarding advanced diabetes diagnostics and treatments, is anticipated to fortify the growth of the market.
The marketplace is very competitive, with fierce rivalry amongst significant players such as Roche, Abbott, Siemens Healthcare, Johnson & Johnson, Medtronic, A. Menarini Diagnostics, Biosense Medical, Sannuo Medical Technologies, Optimum Diagnostics, and Sysmex Biomedical.
Key Benefits For Stakeholders
- Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
- Analyze the key strategies adopted by major market players in China point-of-care glucose testing market.
- Assess and rank the top factors that are expected to affect the growth of China point-of-care glucose testing market.
- Top Player positioning provides a clear understanding of the present position of market players.
- Detailed analysis of the China point-of-care glucose testing market segmentation assists to determine the prevailing market opportunities.
- Identify key investment pockets for various offerings in the market.
China Point-of-Care Glucose Testing Market Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 88 |
 By Product Type |
|
 By Application |
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 By End User |
|
 Key Market Players | Sannuo Medical Technologies, Medtronic, Sysmex Biomedical, Abbott, Optimum Diagnostics, Roche, Biosense Medical, A. Menarini Diagnostics, Johnson & Johnson, Siemens Healthcare |
The China Point-of-Care Glucose Testing Market is projected to grow at a CAGR of 6.9% from 2022 to 2032
Roche, Abbott, Siemens Healthcare, Johnson & Johnson, Medtronic, A. Menarini Diagnostics, Biosense Medical, Sannuo Medical Technologies, Optimum Diagnostics, Sysmex Biomedical are the leading players in China Point-of-Care Glucose Testing Market
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in china point-of-care glucose testing market.
3. Assess and rank the top factors that are expected to affect the growth of china point-of-care glucose testing market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the china point-of-care glucose testing market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
China Point-of-Care Glucose Testing Market is classified as by product type, by application, by end user
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