Point-of-care glucose testing helps in performing effective treatment at the patient's side as compared to standard laboratory testing. Point-of-care testing (POCT) for glucose monitoring is a precious instrument for directing diabetic patients in outpatient settings. Further, point-of-care glucose testing tools and electronic medical records also permit giving out test results immediately with medical care contributors. Potential operational advantages with less operating times, fast decision-making abilities, and high dependency strengthening the market expansion of point-of-care glucose testing.
According to the report analysis,’ 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’ Key participants participating within the market for point of care diagnostics or testing include Trividia Health, Inc., Nova Biomedical, F. Hoffmann-La Roche Ltd., Nipro Corporation, Prodigy Diabetes Care, LLC, EKF Diagnostics, Roche Diabetes Care, LifeScan IP Holdings, LLC., Abbott Laboratories and Ascensia Diabetes Care. These vendors are concerned within the commercialization of their products through distribution agreements to strengthen their presence in many regions. Moreover, key corporates are busy within the development of more advanced bench-top and portable testing solutions to take care of a competitive edge in the space. The comprehensive segments and sub-segment of the market are explained as follows: By Product Type fragmented into Strips, Lancets & Lancing Devices and Meters. By Testing Site fragmented into Fingertip and Alternate Site Testing. By End-User fragmented into Professional Diagnostic Centers, Hospitals & Clinics, Home Care settings and others.
With regards to region, the global point-of-care glucose testing market can be divided into North America, U.S., Canada, Europe, UK, Germany, Asia Pacific, China, India, Japan, Latin America, Brazil, Mexico and Remainder of the World. North America dominated the point-of-care glucose testing market and is anticipated to steer the market position throughout the forecast amount. Growing prevalence of polygenic disorder and alternative lifestyle disorders, increase in number of product approvals, and rise in government initiatives in this region spice up the market expansion in this country. Asia Pacific is anticipated to grow at the very best CAGR within the forecast amount. Growing health care facilities and favorable compensation policies in developing economies are likely to fuel the market growth within the region in the close to future.
The home care settings phase dominated the global point-of-care glucose testing market. The phase is predicted to grow at the highest rate. Also, rise in demand for home care settings thanks to accumulated acceptance of home health care, technological advancements, and efficient alternatives compared to other modalities. Moreover, many smartphone-based devices and associated tools have emerged as a next-generation point of care diagnostics or testing devices, coming up to the market revenue throughout the forecast amount. Further, increase in prevalence of diabetic patients, rise in preference for home health care across the globe, and technological advancement done by various key players and sturdy government initiatives to promote the use of point of care diagnostics or testing technologies across different healthcare settings is expected to boost POC diagnostics market growth throughout the forecast amount.
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Ankur Gupta, Head Marketing & Communications