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.
POINT OF CARE DIAGNOSTICS MARKET SEGMENTATION
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.
POINT OF CARE DIAGNOSTICS MARKET BY TYPE
Outpatient healthcare settings include retail clinics, hospital-based outpatient clinics, non-hospital based clinics, and physician offices, dental offices, home health care agencies, and hospices. These healthcare settings provide various types of outpatient services such as check-up, immediate treatment, and free check-up campaigns. To provide such service the physicians or healthcare professionals have to take help of diagnostic tests results, POC devices provide such results in a short time, and hence their demand is increasing among the outpatient healthcare settings.
PROFESSIONAL DIAGNOSTIC CENTER POINT OF CARE DIAGNOSTICS MARKET BY TYPE, 2015 ($MILLION)
Increasing prevalence of various chronic and infectious diseases across the world
Increase in prevalence of various chronic and infectious diseases such as cardiac diseases, hepatitis, cancer, gastrointestinal, respiratory, and sexually transmitted diseases (STDs) play a pivotal role in the growth of the global point of care diagnostics market share. Moreover, changes in life style patterns also cause several medical conditions, such as diabetes, hypertension, and obesity, which require point of care diagnostics devices for their diagnosis & monitoring.
For instance, according to the American Heart Association, cardiac diseases are one of the leading causes of death worldwide, accounting for 17.3 million deaths per year and projected to grow over 23.6 million by 2030.
Similarly, according to the World Health Organization (WHO), in 2012, 14.1 million new cases of cancer were reported and are expected to reach 15.5 million by 2030. Thus, this increase in prevalence of various chronic and infectious diseases fuels the demand for POC diagnostic devices and thus will drive the point of care diagnostics market growth.
PREVALENCE OF DIABETES MELLITUS (BETWEEN THE AGE GROUP OF 20 ‐ 79 YEARS) IN MAJOR COUNTRIES, 2010 AND 2030 (MILLIONS)
According to the International Diabetes Federation (IDF), developing countries, such as India and China, are expected to have the highest number of diabetes mellitus patients compared to developed countries, such as U.S. and Germany. The number of patients with diabetes mellitus is expected to reach 87 million in India and 62.6 million in China compared to 36 million in U.S. by 2030. This increase in incidence of various diseases in various parts of the world is expected to drive the POC diagnostic procedures.
The study provides an in-depth analysis of the global industry with current point of care diagnostics market trends and future estimations to elucidate the imminent investment pockets in the market
The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities
Extensive analysis of the global point of care diagnostics industry, by product, explains various types of devices used in the diagnosis of various diseases
Competitive intelligence highlights the business practices followed by leading market players across different geographical regions
Key market players within the point of care diagnostics market are profiled in this report and their strategies are analyzed thoroughly, which predicts the competitive outlook of global point of care diagnostics market.
POINT OF CARE DIAGNOSTICS MARKET KEY SEGMENTS
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
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
Urinalysis Testing Kits
Coagulation Monitoring Kits
Tumor/Cancer Markers Testing Kits
Cholesterol Test Strips
Drugs of Abuse Testing Kits
Fecal Occult Testing Kits
Others (Calcium Assay Kits and Immunochemistry Kits)
BY END USER
Professional diagnostic centers
Hospitals/critical care centers
Outpatient healthcare Setting
Ambulatory care settings
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
Rest of Europe
Rest of Asia-Pacific