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Point-of-Care Glucose Testing Market: Global Opportunity Analysis and Industry Forecast, 2019–2027

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Jun 2021 | 59 Views
 
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Point-of-care testing (POCT) is also called as near-patient testing which is used to monitor diabetic patient. Point-of-care Glucose Testing is a valuable tool which is used for managing patients with diabetes in the outpatient setting. Additionally, Point-of-care glucose testing device and electronic healthcare records permit the sharing of test result instantly with healthcare providers. This device helps in rapid decision-making abilities, to reduce the turnaround time and improve patient care, high needs will boost the Point of Care Glucose Testing market growth. POCT in glucose testing leads to reversal life threatening condition such as hypoglycemic seizures and diabetic ketoacidosis. Rather than advantages, it also has disadvantage that it sometimes gives an inaccurate result that can cause the error in healthcare management. To introducing in the growth of needle-less blood glucose monitoring devices various key players are offering painless management of diabetes in patient. In recent year, international organization for standardization (ISO) and Clinical Laboratories Standard Institute (CLSI) has regulate the guideline related to accuracy in Point-of-care glucose testing. POCT device is widely used in ICU. An increase in the demand for the POC testing has been observed in recent years.

Point-of-Care-Glucose-Testing

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Testing Site, End Users

  Regions covered

North America (U.S., Canada), Europe (Germany, UK, France, Italy, Nordic Country, Belgium, Netherland, Luxembourg), Asia-Pacific (China, Japan, India, Australia, New Zealand), Latin America (Brazil, Mexico, Peru, Chile ) and The Middle East and Africa (GCC, Southern Africa, North Africa)

  Companies covered

Major players analyzed include Hoffmann-La-Roche Diabetes Care Ltd., Abbott, Lifescan IP Holdings, LLC, Ascensia Diabetes Care, Trividia Health, Nova Biomedical, Becton, Siemens Corporation, Dickinson, Instrumentation Laboratories, PTS Diagnostic, Quidel, and Johnson & Johnson.

 

COVID-19 scenario analysis:

At the early phase of COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global market. These players achieved edge over other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis. The outbreak of Covid-19 has brought effect on many aspects, like massive slowly of the supply chain, stock market volatility. The treatment and diagnosis of coronavirus can be done by ECG diagnosis, vitro diagnosis, and direct patient charging. The main benefit of POCT in glucose testing covid-19 such as short detections time, easy to operate, and small instrument.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:

North America is considered as leading generator of revenue in the market and dominating the global Point of Care Glucose Testing Market because of rising occurrence of diabetes and other life style disorder, rising product development and their approval, and rise in government initiatives. Whereas, the Asia-Pacific is expected to exhibit high growth due to increasing healthcare facilities and favorable return policy in developing economies. According to WHO, globally 422 million people are suffering from diabetes and 600, 000 POC test done by the physician per year. In 2017, NCBI reported that 54.9 million individuals were suffering from diabetes in the U.S. In 2019, the International Diabetes Federation reported that globally 463 million people were suffering from diabetes.   

Rising the number of diabetic patient and developing technological innovations and awareness about the point-of-care glucose testing program help to drive the growth of Point of Care Glucose Testing market. The factor that restraint the growth of market such as lack of awareness about the test and accuracy of test. 

New Product Launch to Flourish the Market:

New products that contain improved capabilities have been launched by leading market player. They have taken necessary steps to improve accuracy of device and functionality as well. Innovative developments such as optical instruments and devices have empowered the significant requirement of microsurgery to medical treatment. In 2018, Roche launched the new product, “Accu-check” this product helps to guide blood glucose monitoring system that offers a unique strip with large easy-edge dosing area. Integrity Applications Israel has launched the product “Gluco-Track”, which is used to measure glucose level in interstitial fluid when placed beneath the skin.

Key segments covered:

Segments

Sub-segments

  Type

  • Strips
  • Lancets and Lancing Devices
  • Meters

  Testing Site

  • Fingertip Testing
  • Alternate Site Testing

  End User

  • Professional Diagnostic Centers
  • Hospital and Clinics
  • Research Lab

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Point of Care Glucose Testing industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Point of Care Glucose Testing market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Point of Care Glucose Testing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global Point of Care Glucose Testing market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Point of Care Glucose Testing Market research report:

  • Which are the leading market players active in the Point of Care Glucose Testing market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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