PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606426
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606426
The Network Point-of-Care Glucose Testing Market was valued at USD 1,380.1 million in 2023 and expanded at a CAGR of 4.8% from 2024 to 2032.
Network Point-of-Care Glucose Testing denotes a glucose monitoring system that integrates point-of-care testing (POCT) with a connected framework for the management, analysis, and dissemination of glucose data. This methodology is especially beneficial in clinical environments, including hospitals and outpatient facilities, where prompt and precise glucose measurements are essential for effective patient care, particularly for those with diabetes or patients undergoing surgical procedures.
Network Point-of-Care Glucose Testing Market- Market Dynamics
The rising prevalence of diabetes is expected to propel market expansion. The global rise in diabetes cases, particularly type 2 diabetes, is attributed to factors such as sedentary lifestyles, poor dietary choices, and increasing rates of obesity. Enhanced awareness regarding diabetes and its associated complications is fostering more extensive screening and monitoring initiatives. In the United States, crude estimates for 2021 indicated that approximately 38.4 million individuals of all ages, or 11.6% of the population, were living with diabetes, as reported by the Centers for Disease Control and Prevention.
Additionally, ongoing advancements in point-of-care testing devices, including enhancements in accuracy, speed, and ease of use, offer significant opportunities for market growth. Nevertheless, the high costs associated with implementation may pose challenges to market development.
Network Point-of-Care Glucose Testing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.8% over the forecast period (2024-2032)
Based on Product Type segmentation, Accu-Chek Inform II was predicted to show maximum market share in the year 2023
Based on region, North America was the leading revenue generator in 2023
The Global Network Point-of-Care Glucose Testing Market is segmented based on Product Type, End-User, and Region.
The market is segmented into six categories according to Product Type: i-STAT, Accu-Chek Inform II, StatStrip, HemoCue, CareSens Expert Plus, and BAROzen H Expert Plus. Among these, the Accu-Chek Inform II is a key player in the Network Point-of-Care Glucose Testing Market, addressing the requirements of healthcare professionals by providing sophisticated, precise, and effective glucose monitoring solutions.
The market is segmented into five categories according to the End-User: Hospitals, Clinics and Ambulatory Care Centers, Home Care Settings, and Diagnostic Centers. With the increasing prevalence of diabetes, the demand for networked point-of-care glucose testing solutions across all these segments is anticipated to expand, underscoring the necessity for innovation and integration in glucose monitoring technologies.
Network Point-of-Care Glucose Testing Market- Geographical Insights
This market is geographically extensive, encompassing North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These areas are further categorized based on the countries contributing to business activities. North America leads in market expansion, primarily due to the increasing adoption of continuous glucose monitors (CGMs). These devices offer continuous, real-time glucose information, enabling both patients and healthcare professionals to make prompt decisions regarding diabetes management. According to the American Diabetes Association, over 133 million Americans are affected by diabetes or prediabetes. Among those diagnosed with diabetes, approximately 31 percent, equating to more than 10 million individuals, are insulin-dependent and could greatly benefit from the use of a CGM. Europe ranks as the second-largest region for market growth, attributed to advancements in glucose monitoring technology.
The competitive landscape of the Network Point-of-Care Glucose Testing Market is marked by significant rivalry among numerous prominent entities, which include well-established medical device firms, pioneering startups, and technology enterprises. These companies are dedicating resources to research and development efforts aimed at producing sophisticated glucose monitoring systems that offer enhanced accuracy, quicker response times, and more user-friendly functionalities. A considerable number of leading players are also concentrating on broadening their reach in emerging markets, where there is an increasing demand for effective diabetes management solutions.
Roche unveiled the most recent findings regarding its innovative continuous glucose monitoring solution. This solution comprises a CGM sensor along with two applications intended to showcase real-time glucose levels and forecasts for the next 30 minutes and two hours.