San Francisco, 4 January 2019: The Report Pointof Care (POC) Diagnostics/Testing Market Size, Share & Trends Analysis
Report By Product (Glucose Testing, Hb1Ac, Coagulation, Fertility, Cardiac
Markers, Hematology, Urinalysis), By End-use, And Segment Forecasts, 2018 -
2024
According to a report
published by Grand View Research, Inc.; the Point of Care (PoC) diagnostics
market is estimated to reach a valuation of USD 20.9 billion by 2024. Increased
prevalence of target diseases, such as cancer, Cardiovascular Diseases (CVDs),
diabetes, and infectious diseases, is expected to augment the market growth in the
forecast period (from 2018 to
2024). The capability of PoC diagnostics test to provide quick results have
positive impact on improving patient care. In addition, growing adoption of EMR
(electronic medical records) and PACS (picture archiving and communication
systems) have also increased the demand for POC devices. PoC devices can be
operated by healthcare specialist, as well as non-medical personnel and this
factor is projected to boost their demand in near future. In addition, PoC
technology is now available in many rural and remote areas as well, which is anticipated
to bode well for the market. Furthermore, growing spending and favorable
regulatory policies promoting PoC diagnostics are likely to stimulate market
growth.
Access Research Report of Point of Care Diagnostics
Market@ www.grandviewresearch.com/industry-analysis/point-of-care-poc-diagnostics-industry
For instance, launch of
Clinical Laboratory Improvement Amendments (CLIA) for certain PoC diagnostic
tests and products. The development of PoC for cancer testing can have
remunerative opportunities in the market. Additionally, launch of PoC
home-testing kits is likely to increase the adoption in the years to come. However,
high costs associated with these tests can hamper the market growth to an
extent in developing countries. On the basis of product, the market has been categorized
into glucose testing, Hb1Ac testing, infectious disease testing, coagulation,
fertility, cardiac markers, primary care systems, hematology, decentralized
clinical chemistry, feces, blood gas/electrolytes, ambulatory chemistry,
urinalysis, and drug abuse testing. Blood glucose testing was the leading
segment in 2016 and will expand further during forecast period. Benefits offered
by these devices, such as easy operability and portability, has augmented their
demand in diabetic patients. On the basis of end-use, the market is classified
into clinics, hospitals, assisted living healthcare facilities, laboratories,
and others.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/clinical-diagnostics
In terms of revenue, the
clinics segment occupied the largest share in 2016. This can be ascribed to the
availability of CLIA-waived tests, which can be effectively executed in
clinics. Furthermore, a common trend of decentralization of primary care
services in many regions is projected to boost the segment growth in the years
to come. The home healthcare segment is expected to witness the fastest growth from
2018 to 2025. Growing awareness regarding the importance of early detection of
diseases is estimated to support the segment growth. Advent of several
home-testing kits are also likely to boost the segment development in the next
few years. Geographically, the market can be divided into North America, Asia
Pacific, Europe, Latin America, MEA, and UAE. North America was the leading
market in 2016 due to the factors, such as presence of target population base
and high healthcare spending. Furthermore, well-established healthcare
infrastructure and high awareness regarding early disease diagnosis among
physicians and patients can drive North America market.
Ongoing government-assisted
projects in the region are also anticipated to fuel the region’s growth. In
addition, increasing financial support from various sources, such as the U.S.
Department of Defense (DOD), NIH, and other private organizations, for POC
diagnostics development can have a positive impact on the market growth.. Asia
Pacific is anticipated to rise with the fastest CAGR during the study period.
Factors, such as growing awareness about early disease diagnosis and growing
focus of major companies to capitalize on untapped opportunities in the region,
can drive the regional market. Some of the prominent companies in the market
include Abaxis, Inc.; Nipro Diagnostics Inc.; OraSure Technologies Inc.; Abbott
Diagnostics Inc.; and Alere, Inc. Players are emphasizing more on R&D
activities to sustain in the competition.
Access
Press Release of Point of Care Diagnostics
Market@ www.grandviewresearch.com/press-release/global-point-of-care-diagnostics-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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