Point-Of-Care Diagnostics Market to Witness Heightened Revenue Growth During the Forecast Period 2025
The global point-of-care (PoC) diagnostics market is experiencing an exponential growth over the recent years owing to increasing patient’s preference for taking up these tests. Another factor helping the market to grow stupendously is the technological advancement with which the healthcare sector has been growing over the years. Players in the market are continuously focusing on the research and development to innovate new devices which are more advanced and efficient, thus helping the market to grow. The point-of-care diagnostics market is gaining traction from the rising prevalence of infectious diseases especially in emerging economic countries such as Brazil, South Africa, China, and India. This is anticipated to allure the attention of vendors in the market. Rising demand for portable-of-care devices and home-based that are efficient, faster, advanced and easy to handle is likely to fuel the market.
The global point-of-care diagnostics market is inked to rise at staggering CAGR of 6.9% during the forecast period 2016 – 2024. The market was worth at US$6.8 bn in 2016 which is likely to soar up to US$11.7 bn by the end of the assessed period.
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POINT OF CARE DIAGNOSTICS MARKET KEY SEGMENTS
BY PRODUCT
Glucose monitoring kits
Infectious disease testing kits
Hepatitis testing kits
HIV testing kits
Respiratory infections testing kits
Influenza testing kits
Healthcare-associated infections (HAIs) testing kits
Sexually-transmitted diseases (STDs) testing kits
Others
Pregnancy and fertility testing kits
Pregnancy testing kits
Fertility Testing Kits
Hematology testing kits
Cardiometabolic monitoring kits
Cardiac Markers Kits
HbA1c Testing Kits
Electrolytes Testing Kits
Others
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Tumor/Cancer Markers Testing Kits
Cholesterol Test Strips
Drugs of Abuse Testing Kits
Fecal Occult Testing Kits
Urinalysis Testing Kits
Coagulation Monitoring Kits
Others (Calcium Assay Kits and Immunochemistry Kits)
BY END USER
Professional diagnostic centers
Hospitals/critical care centers
Outpatient healthcare Setting
Ambulatory care settings
Research laboratories
Home
Others (Medical universities, Not-for-profit organizations, and Nursing homes)
BY MODE OF PRESCRIPTION
Prescription based point of care diagnostics
Over-the-counter (OTC) based point of care testing devices
Geographically, North America leads the global point-of-care diagnostics market, due to increasing lifestyle associated disease and increasing usage of point-of-care devices. Asia-Pacific is the fastest growing region in the global point-of-care diagnostics market, which is driven by growing healthcare expenditure, large pool of patients, increasing government initiatives and support. Moreover, the Asia-Pacific point-of-care diagnostics market is growing rapidly, due to growing research and development activities, and increasing funding towards development of point-of-care diagnostic products in the emerging economies, such as India and China.
The key players operating in the global point-of-care diagnostics market are Abbott Laboratories Inc., Siemens Healthcare, F Hoffmann La-Roche, Nipro Diagnostics Inc., Johnson & Johnson, Abaxis Inc., Alere Inc., Becton, Dickinson and Company, Beckman Coulter Inc., and Bayer Healthcare.
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