Point Of Care Glucose Testing Market : By Size, Supplier, Demand Analysis, Type, Statistics

Market Overview:
Global Point-of-Care Glucose Testing Market is valued approximately at USD XXX million in 2019 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2020-2026. In recent years, the demand for point-of-care glucose testing has been witnessed significant growth. Point-of-care glucose testing helps in performing effective diagnosis at the patient’s bedside as compared to conventional laboratory testing. Point-of-care testing (POCT) for glucose monitoring is a valuable tool for supervising diabetic patients in outpatient settings.

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Further, point-of-care glucose testing devices and electronic medical records also allow sharing of test results instantly with healthcare providers. Potential operational benefits with reduced operating times, rapid decision-making capabilities, and high dependency strengthening the market growth of point-of-care glucose testing. Further, rise in the prevalence of diabetes, growing number of elderly population and increase in preference for home health care among people are the few factors responsible for high CAGR of the market over the forecast period. According to the International Diabetic Federation (IDF), the number of adults with diabetes was estimated around 415 million in 2015, and this number is projected to grow to almost 578 million by 2030, globally. Similarly, IDF also estimated that the number of diabetic patients in Europe is likely to rise from nearly 33 million in 2010 to 38 million in 2030. This, in turn, is expected to accelerate the demand for Point-of-Care Glucose Testing, thus contributing to the growth of the global market. However, accuracy issues in testing, stringent and time-consuming regulatory policies are the few factors expected to hamper the growth of the market over the forecast period of 2020-2026.

The regional analysis of global Point-of-Care Glucose Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the surging prevalence of diabetes and other lifestyle disorders, increase in number of product approvals and favorable government initiatives in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to growing healthcare facilities and favorable reimbursement policies in the countries like China and India.

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Christophe Rude

Christophe Rude

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