Network Point-of-Care Glucose Testing Industry Overview
The global network point-of-care glucose testing market size was valued at USD 1.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028.
High demand for remote patient monitoring, data-based patient analysis, and integration with advanced data transfer techniques are some of the key factors fueling the market growth. A large number of countries in Asia Pacific and the Middle East are showing a steep rise in the diabetes population. For instance, as per the International Diabetes Federation, in 2017, 72,946,400 cases of diabetes were diagnosed in India. Large growth opportunities in fast-growing economies and growing awareness of diabetes in these regions are anticipated to boost the demand for diabetes devices.
Gather more insights about the market drivers, restrains and growth of the Global Network Point-of-Care Glucose Testing Market
Network-based point-of-care glucose monitoring systems proved to be an effective tool in the diagnosis and monitoring of COVID-19 patients, especially in makeshift hospitals. Glucose monitoring in COVID-19 patients is important as diabetic patients are prone to various complications. Major hospitals use continuous glucose monitors that can provide real-time glucose reading and can be accessed from outside the isolation areas. Large data gathered in the process helps healthcare services providers in customizing the treatment regime for each patient. Integration with telemedicine and usage expansion in-home healthcare settings are the factors expected to fuel the market growth during the forecast period.
The rising prevalence of diabetes mellitus is critical as it is the root cause for several disorders, such as stroke, kidney failure, and cardiac disease, which are also considered to be comorbidities. Furthermore, diabetes condition is allied with the poor projection of COVID-19 and hence its management for patients with both COVID-19 and diabetes has gained attention. The POCT is driving the market owing to its several benefits such as ease of use, no need for trained professionals, lower price, and rapid turnaround time. Major market players are involved in the designing and development of blood glucose monitoring devices.
Several initiatives by governments and nonprofit organizations to increase diabetes awareness are expected to boost the adoption of advanced glucose meters. For instance, the Ministry of Health and Family Welfare and the WHO Country Office for India as well as other partners have launched a mobile health initiative known as mDiabetes. This health initiative is focused on increasing awareness about the early diagnosis and treatment of diabetes. Similarly, the WHO and the IDF are working together to prevent and control diabetes and ensure good quality of life for people worldwide. For instance, the WHO Diabetes Program is aimed at preventing type 2 diabetes, reducing complications, and improving the quality of life for people with diabetes.
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- Glucose Market - The global glucose market size was estimated at USD 42.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2028. The escalating demand for confectionery, soft drink, and bakery products in the food and beverages sector that uses glucose (dextrose) as an ingredient is driving the market.
- Remote Patient Monitoring System Market - The global remote patient monitoring system market size was valued at USD 1,282.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.2% from 2022 to 2030. The outbreak of COVID-19 has caused a significant impact on the remote patient monitoring system.
Network Point-of-Care Glucose Testing Market Segmentation
Grand View Research has segmented the global network point-of-care glucose testing market on the basis of product and region:
Network Point-of-Care Glucose Testing Product Outlook (Revenue, USD Million, 2016 - 2028)
- i-STAT
- Accu-Chek Inform II
- StatStrip
- HemoCue
- CareSens Expert Plus
- BAROzen H Expert Plus
Network Point-of-Care Glucose Testing Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global network point-of-care glucose testing market include
- F. Hoffmann-La Roche Ltd.
- Abbott
- Nova Biomedical
- Bayer AG/Ascensia diabetes care holdings AG
- Danaher
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