Global Point-of-Care Glucose Testing Market: Overview
Point of care (POC) testing is used to monitor the diabetic patient for glucose levels. The most common tests in POC testing include HBA1C and glucose. POC is the common clinical test performed several times in clinics worldwide. POC testing offers you rapid and precise test results. It also monitors various glycemic disorders. It helps in reducing the mortality rates and morbidity appropriately. POC devices are a kind of high-value tool for patient care.
Global Point-of-Care Glucose Testing Market: Growth Factors
Growing rates of infectious disease and several chronic conditions in many countries created a huge demand for point of care diagnostic devices.
Growing death rates due to HIV infections are increasing every year. In addition, diabetes is also among the growing causes that increase the demand for POC testing devices like glucose biosensors in the market.
The POC tests can be operated in any setting including home. The integration of picture archiving and communication systems (PACS) with electronic health records (EHR) has revolutionized the global point-of-care glucose testing market for point of care testing.
The use of PACS enhances productivity, improves patient care, and reduces workload, thus propels the market growth.
The smartphones-based services have innovated the next generation point of care testing devices that are driving the market to grow significantly during the forecast years.
Favorable guidelines and regulation of clinical laboratory improvements amendments (CLIA) are driving the market growth by promoting POC testing over various available forms.
Vigorous government initiatives to develop and promote POC testing are boosting the global point-of-care glucose testing market.
It aids in the collaboration of different organizations to combine their scientific and technological capabilities for developing the advanced rapid diagnosis tests.
Global Point-of-Care Glucose Testing Market: Segmentation
The global point-of-care glucose testing market can be segmented into product, technology, prescription, application, end-use, and region.
By product, the market can be segmented into cardiometabolic testing products, glucose monitoring, infectious disease testing products, pregnancy, and fertility testing products.
The glucose testing segment holds the largest market share.
The growth can be attributed to the increasing emergence of diabetes globally. This surge has created a high demand for the point of care diagnostics devices.
By technology, the market can be segmented into biosensors, solid phase, flow-through, agglutination assays, immunoassays, molecular diagnostic micro fluids, dipsticks, and lateral flow assays.
The lateral flow assays segment holds the largest share in the global point-of-care glucose testing market. The development of this technology helped in bridging the gap between the central lab and the use of POC diagnostic tests.
They generate analytical information very fastly and in a cost-effective way. They identify the presence of broad-spectrum pathogens, environmental contaminants, and biomarkers.
By prescription, the market can be segmented in prescription and OTC testing.
The OTC segment holds the largest market share owing to the earlier diagnosis and reduced healthcare visits.
By application, the market can be segmented into cancer biomarker testing, pregnancy testing, blood glucose testing, a drug of abuse testing, neurology testing, infectious disease testing, cardiometabolic testing, and others.
The cardiometabolic is growing exponentially owing to the growing cases of diabetes and obesity.
By end-use, the market can be segmented into a home care setting, research lab, diagnostic center, and hospital.
The hospital segment dominates the market and is expected to grow further during the forecast period.
Global Point-of-Care Glucose Testing Market: Regional analysis
North America is dominating the global point-of-care glucose testing market. This can be attributed to the government support that is boosting the POC based testing.
Asia Pacific is expected to witness a significant growth rate during the forecast period. This growth can be attributed to constant development by local and global players.
Moreover, the high R&D activities and heavy investment by the key player also contribute to market growth.
Global Point-of-Care Glucose Testing Market: Competitive Players
Some of the leading companies in the global point-of-care glucose testing market are Nova Biomedical, Trividia Health, Ascensia Diabetes Care, Abbott, LifeScan IP Holdings, LLC., Becton, Dickinson and Company, Instrumentation Laboratory, and Roche Diabetes Care.
Global Point-of-Care Glucose Testing Market: Regional Segment Analysis
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