Point-of-Care Glucose Testing Market Share, Trends, Analysis, Challenges and Future Competition 2034: SPER Market Research
Point-of-care glucose testing allows for immediate blood sugar measurement at the patient’s location, rather than requiring lab analysis. This method is essential for diabetes management, a condition affecting blood glucose regulation. The testing process utilizes tools like test strips, lancets, lancing devices, and glucose meters.
According to SPER market research, ‘Global Point-of-Care Glucose Testing Market Size- By Product – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Point-of-Care Glucose Testing Market is predicted to reach 5.36 Billion by 2034 with a CAGR 4.39%.
Drivers:
The point-of-care (POC) diagnostics market is growing rapidly, driven by the increasing availability of CLIA-waived tests. These user-friendly tests allow healthcare providers to perform diagnoses in diverse settings without specialized training, delivering immediate results essential for prompt patient care. This expansion is further propelled by the rising number of CLIA-waived POC tests. Diabetes management is a major focus due to its high prevalence and associated risks, such as increased COVID-19 mortality. Limited healthcare access and a shortage of healthcare professionals, particularly in Asia, are boosting the adoption of POC glucose testing. Supportive regulations, like the CLIA waiver in the US, which permits testing in non-traditional healthcare settings, significantly contribute to market growth by broadening the patient base and enhancing patient outcomes.
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Restraints:
Strict regulatory approvals, necessary for safety and accuracy, create hurdles for point-of-care diagnostic product commercialization. These rigorous processes, including testing and trials mandated by bodies like the FDA and CE marking, result in delayed market entry, high development costs, and challenges for smaller businesses. Furthermore, the lack of standardization between point-of-care and lab testing, coupled with potential pre-analytical errors and testing performed by non-physicians, may restrict broader use of point-of-care diagnostics.
North America dominated the point-of-care glucose testing market in 2024 and is projected to continue its lead. The presence of key players like Abbott, Nova Biomedical, and Prodigy Diabetes Care, LLC has increased product availability and revenue. Furthermore, rising government healthcare expenditure on diabetes management has fueled market growth in the region. Some significant market players are Abbott, Bayer AG/Ascensia Diabetes Care Holdings AG, EKF Diagnostics, F. Hoffmann-La Roche Ltd., Nipro, Nova Biomedical, PlatInium Equity Advisors, LLC (Lifescan, Inc).
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Point-of-Care Glucose Testing Market Growth
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