Point-of-Care Diagnostics Market worth 41 Billion USD by 2022

 

This report studies the global point-of-care diagnostics market over the forecast period of 2016 to 2021. The market is expected to reach USD 36.96 Billion by 2021, at CAGR of 9.8% from 2016 to 2021.On the basis of product, the global point-of-care diagnostics market is divided into 12 major segments, namely, glucose monitoring kits, infectious diseases testing kits, cardiometabolic monitoring kits, coagulation monitoring kits, hematology testing kits, urinalysis testing kits, cholesterol test strips, drugs-of-abuse testing kits, tumor/cancer markers, pregnancy and fertility testing kits, fecal occult testing kits, and other products. Other products segment comprises of multi-assay testing kits and vitamin assay testing kits. The glucose monitoring kits segment is estimated to hold the largest share of the POC diagnostics market in 2016. Increasing number of POC glucose monitoring devices coupled with growing incidences and prevalence of diabetes across the globe are factors driving the growth of this market segment.

 

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Based on mode of prescription, the global point-of-care diagnostics market is segmented as prescription based testing kits and over-the-counter (OTC) testing kits. The OTC testing kits are expected to witness higher growth in the market during the forecast period. The global point-of-care diagnostics market is also divided into four segments by type of end user­– professional diagnostics, research laboratories, home care, and other end-users.

Key factors such as prevalence of lifestyle and infectious diseases and the increasing inclination toward home healthcare across the globe are driving the growth of the point–of-care diagnostics market, globally. In addition, private investments and venture funding towards the development of new products along with the growing government support to increase the adoption of POC devices are boosting market growth. On the other hand, the reluctance among patients to change existing treatment practices is one of the key factors hampering the growth of the point-of-care diagnostics market.

As of 2016, North America holds the largest share of the global point-of-care diagnostics market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 14.2% from 2016 to 2021. A number of factors such as growing initiatives by market players for expanding their distribution network, increasing patient population base, and rising number of partnerships and joint ventures among POC providers are propelling the growth of the Asia-Pacific point-of-care diagnostics market.

Abbott Laboratories, Inc. (U.S.), Roche Diagnostics Limited (Switzerland), Siemens AG (Germany), Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), Alere Inc. (U.S.), Instrumentation Laboratory (U.S.), PTS Diagnostics (U.S.), and Nova Biomedical (U.S.) are some of the key players operating in the point-of-care diagnostics market.

Point Of Care Diagnostics Market Opportunities and Technology Trends:

The global point of care diagnostics market size was valued for $22,975 million in 2015 and is expected to reach $43,336 million by 2022, growing at a CAGR of 9.4% from 2016 to 2022. The point of care (POC) diagnostics defined in this report are the medical devices used to get an immediate result in the investigation (diagnosis & monitoring) of various diseases such as cancer, diabetes, cardiac diseases, and others.

This report covers information on various types of point of care diagnostic devices that are manufactured for medical purposes in compliance with the European Medical Association (EMA), the U.S. Food and Drugs Administration (FDA), Conformité Européene (CE) and other regulatory authorities. These devices include point of care testing devices, such as glucose monitoring kits, infectious diseases testing kits, pregnancy, and fertility testing kits, hematology testing kits, cardiometabolic monitoring kits, urinalysis testing kits, coagulation monitoring kits, tumor/cancer markers, cholesterol test strips, drugs of abuse testing kits, and fecal occult testing kits. These point of care diagnostics are used in healthcare facilities (professional diagnostic centers and research laboratories) as well as at home. Moreover, this study on the global point of care diagnostics market also focuses on the prescription mode of point of care diagnostic devices. By prescription mode, the market is mainly segmented into prescription-based testing market and over-the-counter (OTC) testing market.

The global point of care diagnostics market is segmented on the basis of product, end-user, mode of prescription, and geography.

The glucose monitoring kit dominates in the global POC diagnostics market. Glucose monitoring devices are used to measure the amount of glucose or sugar level in the blood stream. These devices provide reliable results, which can be used during routine check-ups to interpret risk factors with high sugar and also help in the designing of new diet chart& medications.

Increasing usage of home-based glucose monitoring systems is one of the key trends observed in the point of care diagnostics industry. Several companies are launching innovative and advanced glucose monitoring systems that have increased their adoption rate among the end-users. For instance, Abbott received approval from the Therapeutic Goods Administration (TGA) in Australia for its FreeStyle Libre Flash Glucose Monitoring System, a glucose sensing technology for insulin-using Australians suffering from diabetes.

Over the forecast period of 2016 to 2021, this article studies the global point-of-care diagnostics market. At CAGR of 9.8% from 2016 to 2021, the market is predicted to raising USD 36.96 Billion by 2021.

The global point-of-care diagnostics market is divided into 12 major sections on the base of product. They are urinalysis testing kits, cholesterol test strips, glucose monitoring kits, coagulation monitoring kits, infectious diseases testing kits, cardiometabolic monitoring kits, hematology testing kits, drugs-of-abuse testing kits, tumor/cancer markers, pregnancy and fertility testing kits, fecal occult testing kits, and other products.

In 2016, The glucose monitoring kits section is approximate to hold the largest part of the POC diagnostics market. Growing figure of POC glucose monitoring devices connect with growing incidences and prevalence of diabetes over the world are components driving the growth of this market section.

The global point-of-care diagnostics market is partitioned as prescription based testing kits and over-the-counter (OTC) testing kits, based on way of prescription. During the forecast period, the OTC testing kits are supposed to witness higher growth in the market.

On basis of type of end user, the global point-of-care diagnostics market is divided into four sections. They are home care, professional diagnostics, research laboratories and other end-users. Major aspects such as infectious diseases, prevalence of lifestyle and the increasing affection toward home healthcare over the world are driving the growth of the point–of-care diagnostics market, globally.

On the point of 2016, North America occupy the largest part of the global point-of-care diagnostics market, followed by Europe. From 2016 to 2021, the Asia-Pacific market is supposed to rise at the highest CAGR of 14.2%.

The major aspects of POC market is connectivity. In POC testing Connectivity is excellent interface between device and user. It is expected that much more companies will speed up to develop new products for POC testing. Important factor to driving force for the growth to personalized medicine is POC market. The POC market is optimal way to provide healthcare cost-effectively. Point-of-care diagnostic is useful to provide accurate & directional results in healthcare market. Through product innovation and technological advancements, major sections in the global point of care diagnostics market are focusing towards business expansion. Few major players in the global point of care diagnostics market are Abbott Laboratories Inc., Siemens AG, Beckman Coulter Inc., Becton, Roche Diagnostics Limited, Dickinson and Company, Alere Inc., and Johnson & Johnson.

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