Network Point-of-Care Glucose Testing Market Size Worth $1.6 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Sept. 27, 2021 /PRNewswire/ -- The global network point-of-care glucose testing market size is expected to reach USD 1.6 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.9% from 2021 to 2028. Increasing demand for safe and accurate remote patient monitoring options and the need for data-based treatment regimens are major factors driving the market. The integration of advanced technologies including Bluetooth Low Energy (BLE) and Infrared is expected to fuel the market growth in the upcoming years.
Key Insights & Findings:
- Network point-of-care devices were in high demand during the first and second wave of COVID-19 owing to their advantage of remote patient monitoring
- Based on product, the Accu-Chek Inform II segment held the largest revenue share in 2020 and is expected to expand at a lucrative growth rate during the forecast period
- North America held the largest revenue share in 2020 and is predicted to maintain its lead over the forecast period owing to the factors such as the presence of major players and high adoption rate
Read 90 page market research report, "Network Point-of-Care Glucose Testing Market Size, Share & Trends Analysis Report By Product (i-STAT, Accu-Chek Inform II, StatStrip, HemoCue, CareSens Expert Plus, BAROzen H Expert Plus), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Expanding patient base in Asia Pacific and the Middle East and the high demand for advanced diabetes management systems are creating significant growth opportunities in these regions. These regions also include some of the highly preferred destinations for medical tourism. Increasing demand for world-class healthcare services and rising adoption of advanced technology are some of the factors boosting the market growth in these regions.
Network point-of-care glucose meters were extensively used in COVID-19 care. This enabled doctors to remotely observe glucose levels with minimal risk of infection. In addition, a large amount of data is still being used to customize treatment plans for diabetic COVID-19 patients. Preference for telemedicine and trends of home healthcare settings for chronic patients are some of the factors expected to expand the applications of network-based point-of-care devices.
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)
- Accu-Chek Inform II
- CareSens Expert Plus
- BAROzen H Expert Plus
- Network Point-of-Care Glucose Testing Regional Outlook (Revenue, USD Million, 2016 - 2028
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Network Point-of-Care Glucose Testing Market
- F. Hoffmann-La Roche Ltd.
- Nova Biomedical
- Bayer AG/Ascensia Diabetes Care Holdings AG
Check out more studies related to point-of-care diagnostics, conducted by Grand View Research:
- Point-of-Care Glucose Testing Market – The global point-of-care glucose testing market size was valued at USD 3.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028. The growing geriatric population, the ability of POC diagnostic tests to deliver immediate results, thus providing improved patient care, and rising market penetration of Picture Archiving and Communication Systems (PACS) and Electronic Medical Records (EMR) are among the high-impact rendering drivers of this market.
- Point Of Care Diagnostics & Testing Market – The global point of care diagnostics and testing market size was valued at USD 27.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.25% from 2021 to 2028. The market is set to gain momentum in the coming years on account of the increase in funding by multiple sources, the rising prevalence of target diseases, and the need to address the recent outbreak of coronavirus.
- Point-of-Care Molecular Diagnostics Market – The global point-of-care molecular diagnostics market size was valued at USD 1.72 billion in 2018 and is anticipated to expand at a CAGR of 14.4% over the forecast period. Increased need for accurate and faster testing methods and results for the molecular tests is expected to propel the market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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