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Point-of-Care Glucose Testing Market Size
Point-of-Care Glucose Testing Market size was valued at around USD 3.4 billion in 2023 and is estimated to grow at 4.7% CAGR from 2024 to 2032. Point-of-care glucose testing refers to the process of measuring blood glucose levels at or near the site of patient care, rather than in a centralized laboratory. This testing is performed using portable and user-friendly devices that provide immediate results, allowing for quick decision-making in the management of diabetes and other conditions requiring glucose monitoring.
The rising incidence of diabetes is a significant driver of market growth. For instance, according to the World Health Organization (WHO), about 422 million people worldwide have diabetes in 2024, with the majority living in low- and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. This underscores the urgent need for reliable point-of-care glucose testing solutions to manage the growing diabetes burden effectively.
Additionally, technological advancements in glucose monitoring, the rising geriatric population, and the growing adoption of continuous glucose monitors are key factors driving market growth
What is the value of the point-of-care glucose testing industry size?
The point-of-care glucose testing market was valued at USD 3.4 billion in 2023 and will witness a 4.7% CAGR between 2024 and 2032 driven by the rising incidence of diabetes.
Why is the demand for test strips flourishing?
The test strips segment in the point-of-care glucose testing industry will attain USD 2.3 billion by 2032, due to their high accuracy and precision in glucose measurement.
How will the U.S. Point-of-care glucose testing industry grow over 2024-2032?
U.S. point-of-care glucose testing market is expected to surpass USD 1.9 billion by 2032, owing to the highest diabetes prevalence rates, along with a well-established healthcare infrastructure that supports the widespread use of advanced medical technologies.
Who are the major players in the point-of-care glucose testing industry?
Abbott Laboratories, ARKRAY, Inc., ACON Laboratories, Inc., B. Braun Melsungen AG, and Dexcom, Inc., among others.