Ultra Market Research | U.S. Point-of-Care Glucose Testing Market
U.S. Point-of-Care Glucose Testing Market
Report ID : 617
Category : Healthcare-Services
No Of Pages : 120
Published on: August 2024
Status: Published
Format :
Key Question Answer
Global Market Outlook
In-depth analysis of global and regional trends
Analyze and identify the major players in the market, their market share, key developments, etc.
To understand the capability of the major players based on products offered, financials, and strategies.
Identify disrupting products, companies, and trends.
To identify opportunities in the market.
Analyze the regional penetration of players, products, and services in the market.
Comparison of major players financial performance.
Evaluate strategies adopted by major players.
Recommendations
U.S. Point-of-Care Glucose Testing Market Point-of-care glucose testing market in the United States was valued at US$ XX billion in 2023 and is projected to reach US$ XX billion by 2033, expanding at a compound annual growth rate (CAGR) of XX% between 2024 and 2033. In the US healthcare market, point-of-care testing (POCT) for glucose levels is starting to show signs of considerable expansion. Its proven benefits for managing diabetes are the main forces behind this development. Compared to standard central lab testing, POCT offers immediate findings, cuts down on wait times, improves patient satisfaction, and allows for speedier medication modifications, all of which contribute to better glycemic control. Notable are the operational, clinical, and financial advantages of POCT. POCT has the potential to lower healthcare expenditures while simultaneously improving patient outcomes through its ability to support better glucose management and timely medication modifications. Patients and healthcare professionals alike find this dual benefit appealing, which promotes the nationwide adoption of POCT technologies. Point-of-care glucose testing market in the United States is expanding rapidly. The rising acknowledgment of POCT's value proposition in improving diabetes management is driving this growth trajectory, which in turn leads to better clinical outcomes, increased operational efficiency, and cost savings for patients and healthcare providers.
Market Overview Rising use of near-patient testing technologies is fueling the rapid growth of the point-of-care glucose testing industry in the United States. Point-of-care testing (POCT), also called extralaboratory testing, is described as testing done close to or at the patient's site that may require adjustments to the patient's care. In most healthcare facilities, it is now the accepted method for monitoring blood sugar at the patient's bedside. One advantage of POCT is that, unlike central laboratory testing (CLT), which requires 1-3 mL of blood for analysis, POCT only requires very little blood volumes, usually 0.3 to 1 µL. This lowers the risk of anemia in hospitalized patients as well as the expenses related to frequent venesection. User-friendly interfaces, quick turnaround times, and low sample volume requirements define POCT for glucose testing. Connectivity advances allow hospital glucometrics to be established for benchmarking and intervention program assessment. Although more research is required in this area, modern technologies such as Continuous Glucose Monitoring (CGM) show promise for the future. POCT is a frequently used method for quickly determining a hospitalized patient's blood glucose level, allowing for quick treatment decisions in response to glycemic swings. More precise blood glucose meter performance is in high demand in the US, especially for hospitalized patients.
Report Highlights By Product Because of its remarkable features and functions, the Accu-Chek Inform II system has taken the lead in the point-of-care glucose testing industry. This technology is essential for tracking the efficacy of glucose control since it is specifically made for the quantitative measurement of glucose in fresh finger stick capillary whole blood. One of the Accu-Chek Inform II system's benefits is its adaptability, which enables it to be used for a variety of patients while following the strict cleaning and disinfection guidelines provided by reliable organizations like the VA, FDA, CDC, and CMS. This guarantees regulatory standard compliance in addition to improving efficiency. Its cutting-edge technology, best shown by the Accu-Chek Inform II test strip, is the key to its success. Compared to other hospital glucose testing systems, this creative design allows the testing of a greater range of factors since it is engineered with dual alternating and direct (AC/DC) current technology. This results in improved reliability and accuracy throughout the testing procedure, giving patients and healthcare professionals alike confidence. Over the course of the forecast period, the FreeStyle Lite blood glucose monitoring system is expected to rise rapidly in the market thanks to its dependable performance in managing diabetes and its user-friendly design. The FreeStyle Lite system is unique in that it expands upon the cutting-edge FreeStyle technology without requiring meter coding for individual strip lots. This improves user ease by streamlining the monitoring procedure. The FreeStyle system uses coulometry technology to determine the glucose signal by measuring the total charge produced in the sample during the glucose reaction. By carefully regulating the sample volume, calibration parameters for FreeStyle strips may be precisely adjusted, guaranteeing reliable and consistent results. Notwithstanding its streamlined functioning, the FreeStyle Lite system upholds the high standards required of FreeStyle products by maintaining exceptional analytical performance and clinical accuracy. Because of its dependability and simplicity of use, the FreeStyle Lite system is a desirable option for people with diabetes, which is one of the factors leading to its anticipated quick market expansion. Market Dynamics Driver Enhanced Accuracy Point-of-care (POC) testing is a vital tool that allows hospitalized patients' glucose levels to be quickly determined. This allows for timely treatment decisions to be made in response to swings in blood sugar levels. One of the main factors driving the expansion of the point-of-care glucose testing market in the United States is the continuous effort to improve the accuracy of blood glucose monitoring devices and remove potential sources of mistake. Research shows that better blood glucose monitor accuracy correlates with better insulin dosage decisions, highlighting the crucial role that accuracy plays in managing diabetes. The need for sophisticated POC glucose testing solutions keeps rising as healthcare providers place a higher priority on safety and accuracy in testing procedures, which is driving market expansion.
Restraints Limitations in Accuracy Pose Restraints Current generation of Point-of-Care Glucose Monitoring Devices (POCGMDs) exhibits optimal accuracy within the physiological glucose range, but at both lower and higher blood glucose (BG) levels, their dependability declines. This intrinsic limitation presents serious safety issues, highlighting how crucial it is to understand the limitations of POCGMDs. These restrictions limit their ability to effectively manage high blood glucose levels, which serves as a restraint on the potential expansion of the point-of-care glucose testing industry in the United States. It is crucial to tackle these obstacles and progress technological advancements to enhance precision throughout the whole blood glucose range in order to fully realize market potential and guarantee secure and efficient diabetes care procedures.
Opportunities Innovative Cobas Pulse U.S. point-of-care glucose testing market presents a huge opportunity for Cobas Pulse, which offers a blood glucose measuring system designed for multi-patient use in professional healthcare settings. With various fail-safes to reduce the possibility of user error, the system prioritizes accuracy and increases productivity while utilizing cutting-edge connectivity capabilities and superior BG measuring technology. Cobas Pulse uses the working electrode's flavin adenine dinucleotide-dependent glucose dehydrogenase to catalyze the oxidation of β-D-glucose in blood samples, resulting in accurate results. . Electrons can diffuse in accordance with glucose concentration when a redox mediator/electron acceptor is incorporated on the working and counter electrodes. This successfully offsets the effects of any potential interfering substances. This creative strategy not only solves the problems with glucose testing that now exist, but it also makes room for better patient care and more efficient procedures, which in turn creates profitable growth prospects for the point-of-care glucose testing market in the United States.
Recent Developments
• In March 2024, Nova Biomedical's New Generation StatStrip Glucose Hospital Meter obtained FDA 510k clearance. • In February 2023, Insulet acquired assets of Automated Glucose Control LLC (AGC). • In January 2024, Roche acquired LumiraDx’s point of care technology for $295 million.
Key Players in the U.S. Point-of-Care Glucose Testing Market F. Hoffmann-La Roche Ltd. Abbott Nipro Platinum Equity Advisors, LLC (Lifescan, Inc.) Nova Biomedical ACON Laboratories Trividia Health, Inc. Prodigy Diabetes Care, LLC Bayer AG/Ascensia Diabetes Care Holdings AG EKF Diagnostics
Market Segmentation Product Outlook Accu Check Aviva Meter Onetouch Verio Flex i-STAT Freestyle Lite Bayer CONTOUR Blood Glucose Monitoring System True Metrix Accu-Chek Inform II StatStrip Others
Table of content 1. Introduction 1.1. Report Description 1.2. Research Methodology 1.2.1. Data Mining 1.2.2. Market Modeling and Forecasting 1.2.3. Data Validation 1.2.4. Industry Analysis
6. List of Tables and Figures Table U.S. Digital Therapeutics Market Size and Market Share by Product Outlook (2021-2023) Table U.S. Digital Therapeutics Market Size and Market Share by Product Outlook (2023-2030) Figure Accu Check Aviva Meter Market Size and Growth Rate (2021-2030) Figure Onetouch Verio Flex Market Size and Growth Rate (2021-2030) Figure i-STAT Market Size and Growth Rate (2021-2030) Figure Freestyle Lite Market Size and Growth Rate (2021-2030) Figure Bayer CONTOUR Blood Glucose Monitoring System Market Size and Growth Rate (2021-2030) Figure True Metrix Market Size and Growth Rate (2021-2030) Figure Accu-Chek Inform II Market Size and Growth Rate (2021-2030) Figure Others Market Size and Growth Rate (2021-2030)
Table U.S. Digital Therapeutics Market by Regions (2021-2023) Table U.S. Digital Therapeutics Market by Regions (2023-2030) Figure United States U.S. Digital Therapeutics Market Size and Growth Rate (2021-2030) Table United States U.S. Digital Therapeutics Market by Product Outlook (2021-2023) Table United States U.S. Digital Therapeutics Market by Product Outlook (2023-2030) Table United States U.S. Digital Therapeutics by Product Form (2021-2023) Table United States U.S. Digital Therapeutics by Product Form (2023-2030)
Table Olympus Corporation U.S. Digital Therapeutics Financial Overview Table F. Hoffmann-La Roche Ltd. U.S. Digital Therapeutics Financial Overview Table Abbott. U.S. Digital Therapeutics Financial Overview Table Nipro U.S. Digital Therapeutics Financial Overview Table Platinum Equity Advisors, LLC (Lifescan, Inc.) (U.S), Inc. U.S. Digital Therapeutics Financial Overview Table Nova Biomedica U.S. Digital Therapeutics Financial Overview Table ACON Laboratories U.S. Digital Therapeutics Financial Overview Table Trividia Health, Inc.U.S. Digital Therapeutics Financial Overview Table Prodigy Diabetes Care, LLC . U.S. Digital Therapeutics Financial Overview Table Bayer AG/Ascensia Diabetes Care Holdings AG U.S. Digital Therapeutics Financial Overview Table EKF Diagnostics U.S. Digital Therapeutics Financial Overview
Research Methodology
The process of market research at Ultra Market Research is an iterative in application and usually follows following path. Information from secondary used to build data models, then results from data models are validated from primary participants. Then cycle repeats where, according to inputs from primary participants, additional secondary research is done and new Information is again incorporated into data model. The process continues till desired level of Information is not generated
To calculate the market size, the report considers the revenue generated from the sales of Ultra Market Research providers. The revenue generated from the sales of Ultra Market Research has been calculated through primary and secondary research. The report also presents the key players operating in the Ultra Market Research market across the globe identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes distribution channel segmentation determined using secondary sources and verified through primary sources.
Secondary Research
The secondary research source that are typically referred to include, but are not limited to:
Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
Internal and external proprietary databases, relevant patent and regulatory databases
National government documents, statistical databases and market reports
News articles, press releases and web-casts specific to the companies operating in the market
The source for secondary research includes but is not limited to: Factiva, Hoovers and Statista
Inner Circle Represents – Stage of Research Process
Middle Circle Represents – Source of Information
Outer Circle Represents – Information Derived from that source
Primary Research We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following functions:
It provides first-hand Information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
Helps in validating and strengthening the secondary research findings
Further develops the analysis team’s expertise and market understanding
Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
The participants who typically take part in such a process include, but are not limited to:
Industry participants: CEOs, VPs, marketing/ distribution channel managers, market intelligence managers and national sales managers
Purchasing managers, technical personnel, distributors and resellers
Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
Key opinion leaders specializing in different areas corresponding to different industry distribution channels
Models Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data distribution channels to produce estimates:
Demographic data: Population split by segment
Macro-economic indicators: GDP, etc.
Industry indicators: Expenditure, distribution channel stage & infrastructure, sector growth and facilities.
Data is then cross checked by the expert panel.
2..1 Company Share Analysis Model
Company share analysis is used to derive the size of Global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps: 2..2 Revenue Based Modeling
Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach where as it acts as starting point for top-down approach.
2.1 Research Limitations Inflation is not a part of pricing in this report. Prices of U.S. Point-of-Care Glucose Testing and its derivatives vary in each region and hence similar revenue ratio does not follow for each individual region. The same price for each distribution channel has been taken into account while estimating and forecasting market revenue Globally. Regional average price has been considered while breaking down this market by application in each region. This report provides market size of U.S. Point-of-Care Glucose Testing Market for the past year and forecasts for the next six years. U.S. Point-of-Care Glucose Testing Market size is given in terms of revenue. Market revenue is defined in USD Million. Market numbers are given on the basis of different U.S. Point-of-Care Glucose Testing Market categories. Market size and forecasts for each major application is provided in the context of Global market. The numbers provided in this report are derived on the basis of demand for U.S. Point-of-Care Glucose Testing from different application industries in different regions.
Market Segmentation Product Outlook Accu Check Aviva Meter Onetouch Verio Flex i-STAT Freestyle Lite Bayer CONTOUR Blood Glucose Monitoring System True Metrix Accu-Chek Inform II StatStrip Others
