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network point of care glucose testing market

Network Point-of-Care Glucose Testing Market Share, Size, Trends, Industry Analysis Report, By Product (Accu-Chek Inform II, StatStrip, HemoCue, BAROzen H Expert Plus, i-STAT, CareSens Expert Plus); By Region; Segment Forecast, 2021 - 2029

  • Published Date: Dec 2021
  • Pages: 102
  • Format: PDF
  • Report ID: PM2137
  • Base Year: 2020
  • Historical Data: 2017 - 2019

Report Summary

The global network point-of-care glucose testing market was valued at USD 1.27 billion in 2020 and is expected to grow at a CAGR of 4.0% during the forecast period. The demand for network point-of-care sugar testing is increasing owing to the growing demand of the homecare settings, along with bedside monitoring is propelling the market growth for network point-of-care sugar testing.

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In addition, the evolving technological innovations for offering rapid, safe, and precise results for diagnostic tests further support the market development. Moreover, the rising prevalence of diabetes cases, lack of skilled diagnostic professionals is accelerating the adoption of the network point-of-care glucose testing, which, in turn, acts as a catalyzing factor for market growth for network point-of-care sugar testing over the projected period.

The widespread of coronavirus has affected every sector in the global economy. The network point-of-care glucose testing market is positively impacted on account of the growing incidences of diabetes, which, in turn, raises the mortality rate from COVID-19 patients. Accordingly, management of diabetes is a chief concern among healthcare specialists for decreasing the mortality rate. The rising responsiveness regarding poor healthcare access and lack of healthcare professionals is accelerating the global penetration of network point-of-care testing solutions. Therefore, the outbreak of COVID-19 brings an upsurge in demand for network point-of-care sugar testing and is likely to fuel the network point-of-care glucose testing market growth.

Industry Dynamics

Growth Drivers
The increasing prevalence of diabetes across the globe is leading to the network adoption of network point-of-care sugar testing, which accelerates market growth. These tests can effectively enhance the management of diseases, leading to the highest market penetration, especially in developing regions where the availability of timely medical care and the infrastructural facility is limited. Several physicians, patients, and health-aware citizens worldwide are using network point-of-care glucose testing accuracy for wellness and treatment of chronic diseases such as diabetes. According to the International Diabetic Federation (IDF), about 463 million adults between 20 and 79 had diabetes in 2019.

Moreover, data is expected to rise to almost 700 million patients by 2045. Therefore, increasing prevalence rates of diabetes and the changes in lifestyle and eating habits of the people are the prime factors responsible for the global market growth. Accordingly, the novel concept of network point-of-care sugar testing is significant for diabetes because it actively monitors the disease and tracks the sugar level in the blood in the patient. Furthermore, these devices provide a quick report and other medical circumstances data associated with patients to the healthcare professionals. Thus, an extensive collection of data facilitates healthcare services to present effective treatment to each patient. Hence, in turn, it is likely to strengthen the adoption of network point-of-care glucose testing for diabetes treatment worldwide.

Report Segmentation

The market is primarily segmented on the basis of product and region.

By Product

By Region

  • i-STAT
  • Accu-Chek Inform II
  • StatStrip
  • HemoCue
  • CareSens Expert Plus
  • BAROzen H Expert Plus
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Russia, Netherlands)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Product

The Accu-Chek Inform II segment is the leading segment in terms of revenue generation in the year 2020 and is expected to dominate the market in approaching years. The Accu-Chek Inform II glucose meter is intended for in-vitro diagnostic functions, which helps identify blood sugar levels in the patient’s body. The point of care glucose testing meters scrutinizes blood sugar levels in neonatal, venous, arterial, and capillary, along with overall blood samples. It is a home-based self-monitoring device that assists patients in carrying out their regular activities with ease; hence it also presents immediate results of patient blood glucose levels.

Healthcare specialists prefer Accu-Chek Inform II because it provides a bedside system that facilitates the determination of glucose and automates managing the information produced by blood glucose tests. Besides, it is also a home-based self-monitoring device that assists patients in carrying out their regular activities with ease; hence it also presents immediate results of patient blood glucose levels. Thus, the growing adoption of these devices by the professionals and the general population, which in turn, lead to the dominance of the segment.

The i-STAT segment is estimated to show the highest growth in the network point-of-care glucose testing industry over the projected period. I-STAT is an in vitro whole-blood analyzer adopted for the sole-use cartridges for significant care tests at the point-of-care like in the metabolites, coagulation, electrolytes, and blood gases. A blood analysis system presents the most extensive menu of tests on a single, lightweight, and portable point-of-care platform that offers diagnostic information to healthcare professionals. This device is equipped with testing cartridges for observing various sets of analytes that eradicate the requirement for numerous analyzers for different analytes. Hence, these factors act as a catalyzing factor for the segment growth in the network point-of-care glucose testing industry over the coming years.

Geographic Overview

North America is the most significant revenue contributor in 2020 and is expected to dominate the global market for network point-of-care glucose testing over the forecast period. The presence of the highest number of leading manufacturers such as Prodigy Diabetes Care, LLC, Nova Biomedical, and Abbott are majorly acting as catalyzing factors for the market development of network PoC glucose testing.

Growing adoption of the PoC glucose testing for personal and professional usage may further lead to the dominance of the market. Besides, increasing investment in the government on the management of the diabetes segment and the availability of favorable reimbursement policies, which helps in the rapid penetration of developed devices, boosts the market growth for network point-of-care glucose testing. Moreover, Europe is projected to grow at the highest CAGR globally in the coming years due to rapid CE approvals and the development of the regional healthcare market.

In addition, the rising prevalence of diabetes and other lifestyle diseases, the growing need for quick diagnostic tools for diabetes management, and the robust existence of local market players are attributed to the market growth for network point-of-care glucose testing. Furthermore, increasing market demand for miniaturized & portable models and rising responsiveness for the adoption of network point-of-care glucose testing are expected to drive market demand.

Competitive Insight

Some of the major players operating in the global market for network point-of-care glucose testing include F. Hoffmann-La Roche Ltd., Bayer AG/Ascensia Diabetes Care Holdings AG, Nova Biomedical, Abbott, LLC (Lifescan, Inc.), and Danaher.

Network Point-of-Care Glucose Testing Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 1.27 billion

Revenue forecast in 2029

USD 1.79 billion

CAGR

4.0% from 2021 - 2029

Base year

2020

Historical data

2017 - 2019

Forecast period

2021 - 2029

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2029

Segments covered

By Product, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

F. Hoffmann-La Roche Ltd., Bayer AG/Ascensia Diabetes Care Holdings AG, Nova Biomedical, Abbott, LLC (Lifescan, Inc.), and Danaher.

Key Take-Away
Polaris Market Research
Network Point-of-Care Glucose Testing Market Report, 2021 - 2029