Point-of-Care Glucose Testing Market Size, Share, and Trends 2024 to 2034

Point-of-Care Glucose Testing Market Size and Growth 2024 to 2034

The global point-of-care glucose testing market size was USD 3.50 billion in 2023, accounted for USD 3.65 billion in 2024, and is expected to reach around USD 5.50 billion by 2034, expanding at a CAGR of 4.2% from 2024 to 2034. The North America point-of-care glucose testing market size reached USD 1.44 billion in 2023. The growing geriatric population and the ability of point-of-care diagnostic tests to deliver immediate results are among the major factors driving the growth of the point-of-care glucose testing market.

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Point-of-Care Glucose Testing Market Key Takeaways

• North America dominated the global point-of-care glucose testing market in 2023 with a revenue share of 41%.
• Asia Pacific is witnessing significant growth in the point-of-care glucose testing market.
• By product, in 2023, the lancing devices and strips segment held the largest share of 63%.
• By application, the type 2 diabetes segment dominated the market in 2023 with a revenue share of 81%.
• By end use, the home care setting segment has accounted revenue share of 62% in 2023.

U.S. Point-of-Care Glucose Testing Market Size and Growth 2024 to 2034

The U.S. point-of-care glucose testing market size was estimated at USD 1.01 billion in 2023 and is predicted to be worth around USD 1.62 billion by 2034, at a CAGR of 4.4% from 2024 to 2034.

North America dominates the global point-of-care glucose testing market. This can be attributed primarily to factors such as the region's high diabetes rates, advanced healthcare facilities, and supportive reimbursement policies. The presence of major industry players, along with continuous technological advancements in glucose testing devices, further strengthens North America's position. Moreover, increased awareness among healthcare providers and patients regarding the advantages of point-of-care glucose testing contributes to market expansion in the region.

• In January 2024, Amazon declared its intention to partner with digital health firms to offer virtual care benefits to customers, especially for managing chronic conditions such as diabetes and hypertension. Omada Health, a virtual-first chronic care provider, was revealed as Amazon's inaugural partner in this initiative.

Asia Pacific is expected to witness significant growth in the point-of-care glucose testing market. This growth is driven by factors such as the rising prevalence of diabetes, a large population, increasing healthcare spending, and growing awareness about the importance of glucose monitoring. Additionally, improving economic conditions and healthcare facilities in countries like China and India are key drivers of market expansion. The use of point-of-care glucose testing devices in home settings and the emphasis on preventive healthcare also contribute to market growth in the Asia Pacific region.

Market Overview

Point-of-care glucose testing is a type of medical testing done right at the patient's bedside rather than sending samples to a lab. It's commonly used to manage diabetes, a condition where the body struggles to regulate blood sugar levels. This testing involves products like strips, lancets, and meters.

Recent advancements have led to better connectivity for handheld devices. These devices are now essential in hospitals and clinics worldwide for quick glucose monitoring. They use whole blood for measurement, which simplifies bedside testing. Moreover, they empower patients to manage their health actively, increasing demand for patient engagement solutions. This trend is expected to continue, driving the growth of the market.

Point-of-care testing allows individuals to actively manage their health by offering real-time information for better glucose level control. It promotes early detection, monitoring, and intervention, aiming to improve patient outcomes and overall diabetes management. A significant driver in this market is the increasing global prevalence of diabetes.

Point-of-Care Glucose Testing Market Growth Factors

• The rise in the incidence of diabetes is one of the key factors driving the growth of the point-of-care glucose testing market.
• The growing geriatric population that is prone to diabetes can also fuel market growth shortly.
• Key market players like Abbot Laboratories, LifeScan, etc., are actively investing in these markets, which can further contribute to the market expansion.
• The launch of favorable regulatory policies to promote PoC glucose diagnostics is anticipated to boost the market's growth.
• Increasing awareness about this new set of treatments among most of the population is also helping the market expand over the forecast period.

Market Scope

Market Dynamics

Driver

Rising prevalence of diabetes

The prevalence of diabetes has risen globally due to factors like an aging population, urbanization, unhealthy lifestyle choices, and increased obesity and physical inactivity. This rise is particularly pronounced in low- and middle-income countries where healthcare access is limited and awareness about regular glucose testing is low. To address this, there's been a notable increase in the use of portable point-of-care glucose testing market devices due to their affordability and ease of use.

Government initiatives in developing and underdeveloped countries are promoting effective monitoring and surveillance of diabetes and its complications. These efforts are expected to significantly contribute to the point-of-care glucose testing market’s revenue growth in the future.

Technological advancements

Ongoing technological progress in glucose testing devices is fueling point-of-care glucose testing market expansion. Innovations like wireless connectivity, integration with smartphones, and cloud-based data management systems are improving the functionality and user-friendliness of point-of-care glucose testing devices. These advancements facilitate effortless data sharing, remote monitoring, and immediate insights for healthcare providers and patients alike.

Restraint

Limited accuracy of point-of-care glucose testing devices

The accuracy of point-of-care glucose testing market devices has been a subject of ongoing debate. One of the challenges is determining which patients may be adversely affected by inaccurate results. False positive and false negative test results are common, leading to misdiagnosis in some cases. Many of these devices measure whole blood and hematocrit variations, which can introduce errors.

Organizations like the International Organization for Standardization and the Clinical and Laboratory Standards Institute have established new approval standards to address doubtful results. However, the low accuracy of these devices and the stringent regulatory approval processes may significantly hinder the growth of the point-of-care glucose testing market in the forecast period.

Opportunities

Development of advanced biosensor technologies

The development of highly advanced biosensor technologies, along with noninvasive glucose monitoring, grabs great potential for the market. Integration with electronic health records, telehealth services, and digital health platforms can further increase market opportunities. Moreover, the global point-of-care glucose testing market also provides efficient and immediate glucose monitoring for diabetes patients. These factors, along with the better disease management system, are expected to fuel market growth during the forecast period.

• In October 2023, the Canadian government approved Dexcom's next-generation Dexcom G7 Continuous Glucose Monitoring System for Canadian type-1 diabetes patients.

Innovations made by vendors

Vendors are striving to offer technologically advanced point-of-care glucose testing market products at competitive prices to gain an edge over their rivals. Among consumers, there's a preference for silk-based test strips due to their affordability compared to paper and plastic alternatives.

Silk strips only need a spray, as their coated threads can effectively conduct electrochemical signals, thereby reducing reliance on mechanical devices. By weaving enzyme-sprayed silk yarn together with electrodes, fabric sensors can independently conduct electrical charges. Also, the rising demand for cost-effective strips is expected to fuel growth in the point-of-care glucose testing market during the forecast period.

Product Insights

The lancing devices and strips segment held the largest share of the point-of-care glucose testing market in 2023 and is expected to maintain its position throughout the forecast period. This is mainly due to the increasing prevalence of diabetes and anemia, which drives the demand for lancets and lancing devices. The market is further boosted by the introduction of new lancing devices with features such as adjustable depth, vibration feedback, and pre-set depths.

The blood glucose meter segment is expected to grow significantly over the projected period. This growth is driven by the increasing cases of diabetes and the growing awareness about its diagnosis. A glucose meter, also known as a glucometer, is a small device used to measure the amount of sugar in a blood sample. Typically, a drop of blood obtained through a finger prick is placed on a test strip, which is then inserted into the meter for analysis. The finger prick can be done using a special needle called a lancet or a spring-loaded device that quickly pricks the fingertip.

• In February 2024, DexCom launched its real-time continuous glucose monitoring (CGM) system Dexcom ONE+ in Spain, Belgium, and Poland. The company also launched that same device on starting of 12 February. Dexcom said it will launch Dexcom ONE+ in the Middle East, Africa, and other European countries in the coming months.

Application Insights

The type 2 diabetes segment dominated the point-of-care glucose testing market in 2023 and will continue to do so in the upcoming years. Factors such as the expansion of the healthcare sector and favorable government regulations are driving its global growth. Additionally, increasing government initiatives and favorable reimbursement policies are expected to further boost the growth of the type 2 diabetes segment in the future.

The same segment is estimated to experience substantial growth during the projected period. This is attributed to the increase in the number of type 2 diabetes cases worldwide and the increase in the research endogenous regarding type 2 diabetes.

End-user Insights

The home care setting segment has led the point-of-care glucose testing market in 2023 and will sustain its dominance in the foreseen future. This is attributed to the widespread use of point-of-care glucose testing devices in home care settings, where many diabetes patients monitor their glucose levels after meals. The segment's growth is also driven by an increase in the elderly population requiring medical care at home and rising awareness among people about using point-of-care glucose testing devices at home.

Point-of-Care Glucose Testing Market Companies

• Abbott (U.S.)
• Dexcom (U.S.)
• Roche (Switzerland)
• Ascensia Diabetes Care (Switzerland)
• LifeScan (U.S.)
• Medtronic (U.S.)
• Ypsomed (Switzerland)
• Animas (U.S.)
• Insulet (U.S.)
• Bayer (Germany)
• Nipro (Japan)
• Terumo (Japan)
• Arkray (Japan)
• Acon Laboratories (U.S.)
• Freestyle (U.S.)
• One Touch (U.S.)
• Accu-Chek (Germany)
• Dario (U.S.)
• iHealth (China)
• FreeStyle Libre (UK)

Recent Developments

• In February 2024, Trinity Biotech (TRIB) finalized a conclusive agreement to purchase the biosensor and Continuous Glucose Monitoring (CGM) assets from Waveform Technologies. This strategic acquisition, valued at $12.5 million in cash and 9 million American Depositary Shares (ADSs) of the company, alongside additional considerations, positions Trinity Biotech to innovate diabetes care and upgrade its presence in the biosensor market.
• In July 2023, Avricore Health and Ascensia Diabetes Care revealed a partnership to incorporate blood glucose monitoring into point-of-care testing. The collaboration seeks to integrate the Contour Next-Gen and Contour Next One BGM systems into Avricore’s HealthTab PCOT platform.
• In June 2023, the initial locally produced continuous glucose monitoring device was approved by the South Korean Ministry of Food and Drug Safety. I-SENS, the manufacturer of blood glucose devices, introduced CareSens Air, which claimed to be the most compact and lightweight CGM device accessible in South Korea. It can be utilized continuously for 15 days and incorporates a calibration mechanism to enhance the accuracy of readings.
• In January 2022, Roche introduced the Cobas Pulse, a point-of-care blood glucose monitor meant for hospital personnel, along with a companion gadget structured like a touchscreen smartphone that will run its apps. The Cobas pulse will begin shipping to certain European countries with a CE mark.

Segments Covered in the Report

By Product

• Lancing Devices and Strips
• Blood-Glucose Meter
  • Type
    • Lifescan OneTouch Ultra and Lifescan OneTouch Verio
    • Accu-Chek Aviva Plus and Accuchek
    • Freestyle Lite and Freestyle Precission Neo
    • Contour Next
    • Others

By Application

• Type-1 Diabetes
• Type-2 Diabetes

By End User

• Hospitals and Clinics
• Home Care Settings
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa