Global PoC glucose testing market worth billions

The global PoC glucose-testing market size was estimated at USD 6.02 billion in 2019 and is projected to grow at a CAGR of 2.82 percent during 2019–2025, predicts Grand View Research. Technological advancements targeted toward developing novel blood glucose tests are propelled by the urge to avoid long waiting hours for test results procured from the laboratory among patients and doctors. Increasing rapidity in the workflow of diagnosis across medical settings is the main agenda behind developing and encouraging the use of PoC blood glucose tests further contributing to the market growth. Significant elevations in the prevalence of diabetes across the globe recently has exerted pressure on the healthcare system to ensure better management of people diagnosed with diabetes. This is attributed to the fact that diabetic patients further become susceptible to blindness, cardiovascular disorders, nerve damage, and kidney failure, among other associated ailments.

The introduction of favorable regulatory policies aimed at promoting PoC glucose testing is expected to serve as a high-impact-rendering driver for the market. For example, in the US, Clinical Laboratory Improvement Amendments (CLIA) implications have been implemented to boost the adoption of PoC tests. Emerging monitoring technologies including standalone monitoring devices that are designed for patients interested in self-monitoring of blood glucose levels is set to boost the market growth. In addition, the rising incorporation of data-management platforms in glucose monitoring has improved the diabetes therapeutics, offering better patient satisfaction and care. Thus, companies are keenly investing in the development of connecting medical devices with data management software and programs. For instance, LabStyle Innovations Corp., a US-based manufacturer of its flagship diabetes-management solution, has developed a software-integrated monitoring technology. The flagship product namely, Dario, is a personalized compact glucose-monitoring system that is inclusive of all-in-one glucose meter plugged directly into the smartphone. This has made management of personalized information easier for diabetic patients.

Over the years, the market has witnessed a substantial number of consolidations. For example, in October 2018, Platinum Equity acquired LifeScan – an integrated business unit of Johnson & Johnson. The acquisition was completed for approximately USD 2.1 billion. Since LifeScan is one of the leading manufacturers of blood-glucose monitoring products, Platinum Equity is expected to strengthen its position in the glucose PoC testing industry in the near future. Some of the key players in the market include F. Hoffmann-La Roche Ltd., Abbott, Nipro, Nova Biomedical, ACON Laboratories, Inc., Trividia Health, Inc., Prodigy Diabetes Care, LLC, Bayer AG/Ascensia Diabetes Care Holdings AG, and EKF Diagnostics.