Point-of-Care Glucose Testing Market Size, Share & Trends Analysis Report By Product (Accu Check Aviva Meter, Onetouch Verio Flex, i-STAT), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the point-of-care (poc) glucose testing market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for point-of-care (poc) glucose testing market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of point-of-care (poc) glucose testing market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Point-of-Care (POC) Glucose Testing Market Categorization:

The point-of-care (poc) glucose testing market was categorized into four segments, namely product (Accu Check Aviva Meter, Onetouch Verio Flex, i-STAT,Bayer CONTOUR Blood Glucose Monitoring System, Freestyle Lite, True Metrix, Accu-Chek  Inform II, StatStrip), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The point-of-care (poc) glucose testing market was segmented into product, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The point-of-care (poc) glucose testing market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; U.K.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; Saudi Arabia; South Africa; UAE; Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Point-of-care (poc) glucose testing market companies & financials:

The point-of-care (poc) glucose testing market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• F. Hoffmann-La Roche Ltd. is engaged in the production of medical devices. The company’s key business areas are segmented into pharmaceuticals and diagnostics. Roche Professional Diagnostics, Roche Molecular Diagnostics, Roche Tissue Diagnostics, and Roche Diabetes Care are included in Roche Diagnostics. The division includes four business areas: diabetes care, professional diagnostics, tissue diagnostics, and molecular diagnostics. The company offers its products under the diabetes care segment. It has a presence across 158 countries in the world. Its client pool includes users such as physicians, researchers, laboratories, hospitals, patients, and blood banks. The company was established in 1896 and is now headquartered in Switzerland with an employee strength of 94,442. The product portfolio of the company includes Diabetes Monitoring (Glucose and Hb Monitoring Devices, LDL Monitoring).

• Abbott is a U.S.-based healthcare and pharmaceutical company that functions in four core business segments, namely pharmaceuticals, medical devices, nutrition, and diagnostics. The company has an existence in more than 150 countries through its research, manufacturing, sales, and distribution facilities. Abbott is a global leader in In-Vitro diagnostics, which includes clinical chemistry, molecular, hematology, and others. In October 2011, Abbott Laboratories declared its plans to separate into two companies—one of which will be focused on research-based pharmaceuticals and the other will be engaged in diversified medical products. The research-based company is named AbbVie, while the pharmaceutical company retained the name Abbott. On the strategic developments front, Tandem Diabetes Care and Abbott finalized an agreement to commercialize & develop an integrated diabetes solution that combines Tandem’s insulin delivery system and Abbott’s CGM technology.

• Nipro Diagnostics, Inc. formerly known as Home Diagnostics, is a wholly owned subsidiary of Nipro Corporation. It is a supplier of co-branded blood glucose monitoring systems to retailers throughout North America. The company’s product portfolio includes blood glucose meters & test strips, skincare, and other diabetes management tools. The company owned 58 subsidiaries in Japan, Asia, North & South America, and Europe in 2013. In January 2016, Nipro Diagnostics was acquired by Sinocare Group and was renamed Trividia Health, Inc. This acquisition was intended to expand the company’s product portfolio and increase sales. The establishment year of the company is 1954, and it is now headquartered in Osaka, Japan. The product portfolio includes glucose testing offerings such as Meter-Glucometers, Strips, Lancets, and TRUEtest as well.

• Platinum Equity Advisors, LLC. is a merger, acquisitions, and operations-oriented company. It was established by Tom Gores and the company’s mergers & acquisitions are targeted toward offering critical products and services catering to diverse markets. The company has a strong presence in North America and Western Europe. It also has extensive resources created in-house along with alternative acquisition strategies for sellers operating across the globe. In addition, Platinum Equity recently acquired LifeScan, the fully integrated business unit of Johnson & Johnson. LifeScan develops and distributes the OneTouch brand of glucose meters, which is among the few popular glucose meters among users in the world. The company was formed in 1995 and has its headquarters in the United States. The product portfolio of the company entails meters developed for diabetes patients that have characteristics such as wireless connection to smartphones for better management, faster results, change analysis, and more.

• Nova Biomedical is a privately owned company involved in the development, manufacturing, and trade of advanced blood testing analyzers that employ optical measuring & electrochemical techniques. It is one of the most noticeable in vitro diagnostics companies worldwide. The company’s sales & services subsidiaries are spread across seven countries and have distributors in over 92 countries worldwide. Nova Biomedical’s manufacturing facilities are located in Massachusetts and Taiwan. The establishment year of the company is 1976 and is now headquartered in the United States.

• ACON Laboratories, Inc. established in 1996 was originally headquartered in Pennsylvania, however, it shifted its headquarters to California in the year 1999. The company is primarily involved in manufacturing in vitro diagnostics and offering medical devices across various medical settings, including hospital settings, laboratories, physician offices, pharmacies, clinics, and distribution channels worldwide. It is also in the business of offering tailor-made products and contract manufacturing services. Diabetes care, urinalysis, immunoassays, POC testing, and veterinary diagnostics are among the product categories of ACON.

• Trividia Health, Inc. is a non-public company that was acquired by Sinocare, Inc. in January 2016. Sinocare, Inc. specializes in the development and distribution of rapid diagnostic testing in China. In addition, the company manufactures several blood glucose monitoring systems, including Safe-Accu, Safe-AQ, Gold-Accu, & Safe-Accu UG, and D Nurse mobile glucose meters. Trividia Health is a medical devices company that supplies co-branded blood glucose monitoring systems to retailers throughout North America. The company’s product portfolio consists of blood glucose meters & test strips, sharps, skincare, and other diabetes management tools. Currently, the company has manufacturing facilities in Florida, Taiwan, and New Hampshire. With the experience of three decades, the company aims to provide innovative and affordable solutions to help the millions of people living with diabetes enjoy a better quality of life.

• Prodigy Diabetes Care, LLC. is engaged in the manufacturing, marketing, and distributing of blood glucose testing products. It is a high-tech engineering and design company that is constantly putting in efforts to assist those who are diagnosed with diabetes, through higher-level innovations, and affordable pricing for its products. Prodigy has a diverse distribution network through which it sells blood glucose testing supplies. The distribution network includes mail orders, retail companies, and distributors. The company has a presence in the Americas, Asia, the Middle East, Australia, Europe, and the Federation of Russia. Prodigy is largely focused on developing next-generation diabetes care products and introducing advanced blood glucose monitoring systems. The popular product of the company includes a glucometer that is compact, easy to use, & lightweight; and does not require coding for measuring blood glucose levels. It is considered as one of the ideal devices when it comes to alternative site testing applications. Prodigy also offers a talking glucometer equipped with fully audible features including setup as well as testing applications.

• Bayer AG provides products for the healthcare and agriculture markets. This life sciences company is dedicatedly engaged in launching innovative healthcare & agriculture products and has been working in the industry for 150 years now. The company’s business segments include areas such as pharmaceuticals, consumer health, crop science, animal health, and services. It is working toward creating a leading product portfolio in the healthcare industry, aiming at the long-term profitability of its business segments and maintaining a focus on innovation. The diabetes care division of Bayer was acquired by Ascensia Diabetes Care Holdings AG in 2016, which is a fully integrated subsidiary of PHC Holdings Corporation. With this acquisition, Ascencia entered the glucose POC testing market and is focused on expanding its product offerings beyond the popular “CONTOUR” series of blood glucose monitoring systems. The company was founded in 2005.

• EKF Diagnostics is a producer of POC diagnostics, including hemoglobin, HbA1c, glucose, and lactate testing products. The company provides hemoglobin analyzers and products related to diabetes care, maternal & women’s health, and sports performance through its “Point-of-Care” product category. In addition, under the “Central Laboratory” product category, EKF offers microcentrifuges, immunoassays, infectious disease testing, urinalysis, clinical chemistry, occult blood testing, and laboratory analyzers. The company was formed in 1990 and has its headquarters in UK, Europe.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Point-of-Care (POC) Glucose Testing Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2016 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Point-of-Care (POC) Glucose Testing Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.