Home/Analysis/Global Point of Care Diagnostics Market â€“ Complete Industry Overview and Analysis
Global Point of Care Diagnostics Market â€“ Complete Industry Overview and Analysis
Posted On: Dec 2023
Over the past few years, point-of-care diagnostics market has become more popular across the globe due to its JIT healthcare delivery and low-cost home care facility. Point-of-care diagnostics are a simple medical diagnosis that can be done at the place and time of patient care. The major benefits of this test are the immediate availability of outcome through the software medical record. Others benefits include reducing the number of clinic visits, less requirement of hospital beds, optimal use of time and rapid decision-making time.
Rising incidences of lifestyle disorders coupled with increasing prevalence of infectious diseases, especially in the emerging economies are expected to drive the market demand for POCD over the coming years. In addition, supportive government initiatives and rising technological advancements will further aid to the market growth under the study period. Increasing preference for home healthcare and capital investment & funding for the development of advanced products will have a positive impact on the industry growth of the test. However, expensive procedure cost and uncertainty in the regulatory framework are major restraints, which can hinder the market growth of POCD over the coming years.
The report segments the market based on product into glucose monitoring kits, infectious disease testing kit, cardiometabolic monitoring kits, coagulation monitoring , pregnancy & fertility testing kits , tumor/cancer markers, hematology testing kits, urinalysis testing kits, cholesterol test strips, fecal occult testing kits , drugs-of-abuse testing kits, and other POC testing kits. The glucose monitoring kits segment is a major product segment and is estimated to grow at the highest CAGR over the forecast period owing to the Increasing number of point-of-care glucose screening devices along with growing prevalence of diabetic disorder across the globe. Furthermore, he point-of-care diagnostics market has been segmented based on prescription mode and end user.
North America is a leading market for point-of-care diagnostics and is anticipated to continue its dominance over the forecasted period on account of rising patient volume, increasing investment for product innovation and presence of strong distribution network of major players in the region. Asia Pacific is a fastest growing market for point-of-care-diagnostics and is expected to grow at a significant rate over the coming years due to growing healthcare needs coupled with expanding healthcare infrastructure and high disposable income.
The key players include Roche Diagnostics Limited, Abbott Laboratories, Inc., Siemens AG, Alere Inc., Johnson & Johnson, Instrumentation Laboratory, Nova Biomedical, Beckman Coulter, Inc., Becton, Dickinson and Company and PTs Diagnostics.
In May 2016, Royal Philips has announced to launch an advance blood test device, the Minicare I-20, for rapid analysis of a heart attack at the point of care diagnosis.
In June 2015, Radiometer has launched a rapid point-of-care procalcitonin (PCT) test for the diagnosis of sepsis.
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