Global Point-of-Care Glucose Testing Market – Overview
Point-of-care testing for glucose monitoring is a valuable tool for managing patients with diabetes in the outpatient settings. Coupling of POCT glucose monitoring devices and electronic medical records enable test results to be shared instantly with care providers. Potential operational benefits with more rapid decision making, reduced operating times, and high-dependency boost the market growth of point-of-care glucose testing.
Global Point-of-Care Glucose Testing Market – Notable Developments
Some of the key developments in the global point of care glucose testing market are given below:
- According to the International Diabetes Federation, an estimated 463 million people had diabetes in 2019, and the number is projected to increase to 578 million by 2030 and 700 million by 2045.
- In July 2021, FDA accepted application for Roche’s faricimab for the treatment of neovascular age-related macular degeneration (nAMD) and diabetic macular edema (DME).
- In December 2019, Trividia Health and Mellitus Health Partner announced that they have decided to develop diabetes care products and services for pharmacies.
- GlucoTrack, which is manufactured by Integrity Applications (Israel), performs quantification using electromagnetic, ultrasonic, and thermal waves in combination. As per the WHO, number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. According to a paper published by Massachusetts General Hospital, about 600,000 POC tests per year are performed by physicians and nurses in the institution.
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Global Point-of-Care Glucose Testing Market – Drivers and Restraints
The developing geriatric populace, the capacity of POC diagnostic tests to deliver prompt outcomes, subsequently giving worked on quiet care, and rising market entrance of Picture Archiving and Communication Systems (PACS) and Electronic Medical Records (EMR) are among the high-sway delivering drivers of this market. The lack of gifted staff, particularly in the field of diagnostics, is additionally expected to build the market entrance of glucose POC diagnostic products. The market for point-of-care glucose testing is relied upon to acquire force as the presence of diabetes expands the danger of mortality from COVID-19. In this manner, diabetes management is among the vital needs among healthcare professionals to restrict the death rate.
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Global Point-of-Care Glucose Testing Market – Geographical Segmentation
Based on the regional segmentation, the global Point-of-Care Glucose Testing market can be segmented into five key regions. These key regions are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, currently, the global market is being led by the regional segment of North America. The growth of the regional segment can be attributed to the presence of a highly developed and matured healthcare infrastructure. In addition to this, presence of key players operating in the region has also helped the overall development of global Point-of-Care Glucose Testing market in North America.
On the other hand, the regional segment of Asia Pacific is expected to witness promising growth opportunities in the coming years of the forecast period ranging from 2020 to 2030. The growth of the region can be attributed to the increasing investments directed towards the development of the healthcare segment. In addition to this, more activities and funding for research and development activities are also likely to help the development of Point-of-Care Glucose Testing market in the Asia Pacific region.
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