Point-of-Care Glucose Testing Market Expected to Reach $4.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Point-of-Care Glucose Testing Market," The point-of-care glucose testing market size was valued at $3 billion in 2022, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032. Point-of-care glucose testing is a type of medical testing that measures the level of glucose (sugar) in a patient's blood at the point-of-care, or near the location where the patient is being treated. This type of testing is often used in the management of diabetes, a chronic condition in which the body is unable to regulate blood glucose levels effectively. Point-of-care glucose testing is typically performed using a portable device called a blood glucose meter, which provides a rapid measurement of a patient's blood glucose level. These devices can be used by healthcare providers in a variety of settings, including hospitals, clinics, doctor's offices, and in the home.  

One of the key advantages of point-of-care glucose testing is its ability to provide real-time results, which can be critical in emergency situations or in situations where rapid diagnosis is needed. This allows healthcare providers to make immediate treatment decisions based on the test results and can help to prevent complications associated with high or low blood glucose levels. The strips, lancets, lancing device, and testing meter are used in point-of-care glucose testing. 

The growth of the point-of-care glucose testing market share is majorly driven by a rise in prevalence of hyperglycemia and hypoglycemia, which further increases the demand for point-of-care glucose testing devices. For instance, as per the 10th edition of the International Diabetes Federation (IDF)’s Diabetes Atlas, in 2021, total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. According to same source, 3 in 4 adults with diabetes live in low- and middle-income countries, and almost 1 in 2 (240 million) adults living with diabetes are undiagnosed. 

Moreover, geriatric population are more vulnerable to diabetes because the cells become less responsive to insulin and pancreas may produce less insulin on increasing age. According to National Institutes of Aging, Diabetes is a serious disease, and it affects many older adults. Therefore, the rapid increase in geriatric population coupled with rise in prevalence of diabetes, acts as a key driving factor for the growth of the global point-of-care glucose testing market share. For instance, according to the United Nations Report on “World Population Ageing,” published in December 2020, globally, there were 727 million people aged 65 years or above in 2020. 

In addition, surge in number of research & development activities, technological innovations in the point-of-care glucose testing device, rise in number of initiatives taken by government to reduce the burden of diabetes, and surge in demand for glucose testing devices are the key factors that drive the growth of the market in the developing countries such as India and China.  

Moreover, significant increase in capital income in developed countries; and adoption of developmental strategies such as product launch, collaboration, merger, acquisition, and agreement by key players to stay competitive in the market foster the growth of the point-of-care glucose testing market. For instance, in January 2022, Roche launched the cobas pulse system, an industry's first professional blood glucose management solution with mobile digital health capabilities to improve patient care. The cobas pulse system, a handheld blood glucose management device, is designed around the specific needs of healthcare professionals working in a range of care settings. The cobas pulse system marks Roche Diagnostics’ newest generation of connected point-of-care solutions for professional blood glucose management. 

On the basis of product type, the lancing devices & strips segment generated maximum point-of-care glucose testing market size revenue in 2022, owing to high adoption of lancing devices & strips, and the availability of various lancing devices & strips. The blood-glucose meter segment is expected to witness the highest CAGR during the forecast period, owing to rise in cases of diabetes and rise in awareness regarding diagnosis of diabetes.

However, blood glucose meter segment is expected to witness fastest CAGR during the forecast period. Owing to rise in cases of diabetes and rise in awareness regarding diagnosis of diabetes 

On the basis of application, the type-2 diabetes segment generated maximum revenue for point-of-care glucose testing market analysis in 2022, owing to high number of patients suffering from type-2 diabetes across the world. The same segment is expected to witness the highest CAGR during the forecast period, owing to an increase in cases of type-2 diabetes day by day and increase in research regarding type-2 diabetes. 

However, the Type-1 diabetes segment is expected to witness considerable market growth during the forecast period. Owing to the rise in prevalence of type-1 diabetes and growth in geriatric population suffering from diabetes.

Depending on end user, the home care settings segment led the market in 2022, owing to high use of point-of-care glucose testing device in home care settings and high number of diabetes patients checking for diabetes symptoms by observing the effects of meals at home. The same segment is expected to witness the highest CAGR during the forecast period, owing to rise in geriatric population who require medical care in their homes, and rise in awareness among people regarding use of point-of-care glucose testing devices at home. 

Region wise, North America generated maximum revenue in 2022, owing to strong presence of key players, presence of robust healthcare infrastructure, and availability of approved point-of-care glucose testing device with higher adoption of point-of-care glucose testing devices. However, Asia-Pacific is expected to witness the growth at the highest rate during the point-of-care glucose testing market forecast owing to increase in population, surge in healthcare expenditure, and rise in cases of diabetes, which further increase the demand for point-of-care glucose testing devices.  

Key findings of the study 

• On the basis of product type, the lancing devices & strips segment held the largest share in the point-of-care glucose testing industry in 2022. 

• On the basis of application, the type-2 diabetes segment held the largest share in the point-of-care glucose testing industry in 2022. 

• Depending on end user, in 2022, the home care settings segment registered the highest growth. 

• Region wise, North America garnered the largest point-of-care glucose testing market trends in 2022. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.