Glucose Tolerance Test Market Overview
The Global Glucose Tolerance Test Market 2020 is expected to grow at CAGR of 10.4% to reach USD 46.81 billion till 2023.
With the aid of the glucose tolerance test, the ability to absorb glucose (sugar) from our body cells after consumption of a certain amount of sugar is measured. For the diagnosis of diabetes, this test is used. It has its main application in the screening of gestational diabetes for all pregnant women, as it can cause further complications during pregnancy. So it is important to have early detection and prompt treatment. Doctors use fasting blood sugar levels and haemoglobin A1C values to diagnose both type 1 and type 2 diabetes and prediabetes.
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The factors driving the growth of the market for glucose tolerance tests are increasing diabetes mellitus prevalence and incidence, technological innovations, research funding for diabetes diagnosis & treatment, and awareness & screening for diabetes mellitus. Various government and private associations contribute to diabetes research and prevention initiatives in developed and some emerging countries. New devices for diagnosing and treating diabetes have been pioneered by numerous researchers, which have considerable commercial opportunities of their own. The key purpose of this organisation is to support and foster diabetes research through the quick dissemination of gained information in order to encourage its use. The investment on diabetes treatment research inevitably contributes to the delivery of healthcare.
Glucose Tolerance Test Market Segmental Analysis
The global glucose tolerance test market has been segmented on a product-based basis into blood glucose monitoring kits, smart monitors, and others. The portion of the blood glucose test kit was further segmented into lancets, metres, test strips, and others.
By indication, the worldwide market for glucose tolerance tests has been segmented into diabetes, gestational diabetes, insulin resistance and reactive hypoglycemia. During the forecast period, the diabetes section is predicted to display the highest CAGR of 10.7 percent.
Diagnostic clinics, hospitals, and households are segmented on the basis of the end-user market. The highest market share is projected to be retained by the diagnostic clinics.
Glucose Tolerance Test Market Regional Overview
The global glucose tolerance test market is mainly categorized as the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Due to the growing incidence of diabetes mellitus (DM), well-developed technologies and high health care spending, the Americas is likely to lead the global glucose tolerance test market with a market share of 36.9 percent. An significant share of the global economy is expected to dominate the Americas. The people’s eating preferences and busy lives have contributed to a dramatic increase in the region’s diabetic population. It has generated a great deal of recognition among patients who are expected to emerge in the area as the primary driving force of the glucose tolerance test industry.
Due to growing government funding for research & growth, well-developed healthcare facilities, and the prevalence of the geriatric population, Europe holds the second largest market share in the Western Europe region.
Due to the rapidly evolving healthcare market and the presence of big opportunities, the Asia-Pacific region is projected to record the highest CAGR of 11 percent during the forecast period for the development of this market.
Due to the presence of poor and slow developing countries particularly in the African region, the Middle East & Africa is expected to experience limited growth.
Glucose Tolerance Test Market Competitive Landscape
The prominent players in the global glucose tolerance test market are Panasonic, Dexcom, Inc., Abbott Laboratories, F. Hoffman-La Roche Ltd, LifeScan, Inc., Sanofi, Medtronic PLC, and Others.
Key actors and experts collaborate on groundbreaking emerging tools and experiments to enhance the quality and effectiveness of outcomes. The potential direction of the glucose resistance test industry over the measurement timeframe is presumed to be revolutionized.
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