The global glucose tolerance test market is expected to grow at a CAGR of 12% during the forecast period 2017-2023.
Glucose tolerance test market is used to diagnose diabetes, reactive hypoglycemia, and other diseases. The test can be done using a blood sample or using a glucose solution. During the last few years, there is a drastic increase in the number of patients suffering from diabetes, which is likely to create enormous growth opportunities for glucose testing devices, and equipment and accessories in the market. Additionally, rising geriatric population also influences the growth of the market. Diabetes is a chronic condition that affects a large number of people across the globe, whose prevalence is expected to increase in the next few years. Therefore, there is an increasing demand for diabetes management including diabetes treatment and monitoring services are projected to drive the growth of the market.
The global market is majorly driven by increasing prevalence of diabetes. Additionally, increasing healthcare expenditure and increasing demand for the better diagnostic and treatment services are expected to fuel the growth of the market. On the other hand, reliability and accuracy of the glucose testing may restrain the growth of the market over the review period.
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Key Players
Some of key the players in the market are Merck (U.S.), Quest Diagnostics (U.S), F. Hoffmann-La Roche Ltd (Germany), Johnson & Johnson (U.S.),, BAYER (Germany), Abbott (U.S.),, ARUP Laboratories (U.S.), Thermo Fischer Scientific (U.S.), E-Zlab Health Services (U.S.),, Life Extension (U.S.), Laboratory Corporation of America Holdings (U.S.), Cleveland HeartLab, Inc (U.K), Penlan Healthcare Ltd, PAML (U.S.), Dorevitch Pathology (Australia), Nipro Diagnostics, Inc. (Japan), Medtronic (U.K), and Dexcom, Inc. (U.S.).
In America, the market is found to be increasing with increasing demand for home care testing devices, rising prevalence of chronic diseases such as diabetes. Additionally, increasing demand for glucose monitoring devices, and accessories, also fuels the growth of the market. Furthermore, the concentration of major market players also supports the market growth.
In Europe, Germany, and the U.K have acquired the highest share of the European glucose tolerance test market owing to technological advancement in the diagnostic medical devices, and extensive research and development activities on diabetes testing and testing devices.
Asia Pacific is the fastest growing market owing to the rising awareness about diabetes management, increasing the prevalence of lifestyle devices such as diabetes, obesity, and others. Improving healthcare infrastructure in developing economies like India, also determine the market growth. According to the International Diabetes Foundation, 98.4 million and 65.1 million diabetic population live in China and India respectively.
The Middle East & Africa exhibit steady growth in the market due to extensive demand for diagnostic services and new medical devices. In Africa, improving healthcare system and increasing number of diagnostic services in the developing regions are likely to fuel the market growth.
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Specialists and doctors often diagnose type 1 diabetes swiftly because it frequently develops quickly and includes high blood sugar levels. Type 2 diabetes, on the other hand regularly develops over years. Type 2 diabetes is the most common form of diabetes, and it generally develops during adulthood. Gestational diabetes arises when a pregnant woman who do not have diabetes before pregnancy, thus has high blood sugar levels as a result of the pregnancy. The American Diabetes Association estimates that gestational diabetes occurs in 9.2 percent of pregnancies.
The global glucose tolerance test market is expected to reach high growth figures in 2023, this market is expected to grow at a healthy CAGR of 10.4% during the forecast period 2017-2023. Factors such as Increasing prevalence and incidence of diabetes mellitus (DM), Rise in technological innovations, Research funding in diabetes diagnosis and treatment, and rising awareness and screening for Diabetes Mellitus are some of the major factors driving the growth of the market. Further Stringent reimbursement and insurance policies in developing nations, High cost associated with diagnosis and treatment of diabetes can hamper the market growth in coming future.
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The Americas dominate the diabetes monitors market owing to the presence of patient population, a well-developed technology, high healthcare expenditure, and the presence of the leading players. Due to high prevalence of the condition, companies, private organization, and government associations actively participates to improve diabetes care. For instance, The Merck Foundation provided funding of USD 10,000,000 for the projects designed to improve access to diabetes care and to reduce health disparities for vulnerable populations with type 2 diabetes in the United States.
Europe holds the second position in the diabetes monitors market. It is expected that the support provided by the government bodies for research & development, along with a well-developed technology drives the market in European region. According to the German maternity guidelines, every pregnant women can undergo glucose-challenge test for early diagnosis of Gestational diabetes mellitus (GDM). The charges for the test are completely covered by women’s health insurance.
Key Findings:
- On the basis of indications, Diabetes is the fastest growing market and is expected to reach USD 21,796.0 million by 2023 from USD 10,579.1million in 2016 at a CAGR of 10.7% during the forecast period of 2017-2023.
- On the basis of products, Blood glucose testing kit is expected to reach USD 36,164.0million by 2023 from USD 17,676.0 million in 2016, at a CAGR of 10.6% during the forecast period of 2017-2023.
- On the basis of End users, Diagnostic Clinics is expected to reach USD 15,335.9 million in 2023 for USD 7,999.9 million in 2016. Home segment is expected to be the fastest growing segment which is growing at a healthy CAGR of 10.9%
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