Global Point of Care Diagnostics Market is Estimated to Value Over USD 48.9 Billion by 2026 End

  • 01 Oct 2019

Global Point of Care Diagnostics Market is estimated to value over USD 48.9 billion by 2026 end and register a CAGR of over 9% during the forecast period 2019 to 2026. 

 

Consistent developments in activities related to research and development to minimize professional and molecular tests for diagnostic is predicted to steer the insistence for the devices. Additionally, the introduction of high-quality and cost-effective medical solutions along with improvements in the techniques for lab automation is likely to boost the global point-of-care diagnostics market growth.

The emergence of the usage of the electronic medical records (EMR) with point of care (POC) diagnostics has resulted in an efficient patient care system. Electronic medical records facilitate the transfer of test results from POC devices to hospital or laboratory information systems, thus reducing the discrepancies and the overall workload in healthcare database management. 

 

In addition, clinicians and patients prioritize the utilization of point-of-care tests with rising levels of awareness amongst patients regarding the processes of POC. All these factors drive the market augmentation. Furthermore, professionals who have average skill levels use POC devices quite efficiently for diagnosing diseases, which in turn, is one important market driver.

 

Multiple private institutions like the California Institute of Technology, the Dartmouth College, are involved in the development of POC programs. For example, the American Association for Clinical Chemistry (AACC), in August 2018, announced certification programs for professionals working on POC devices to improve their testing of diagnostics in environments other than the clinical laboratories.

The glucose testing segment dominated the global market in 2018 owing to an improved rate of commercialization of mobile glucose meters in recent years. Patients are aware of the glucose level monitoring at regular intervals of time is useful for patients diagnosed with diabetes. This has stimulated the appointment of hand-held glucose meters, especially in-home care environment.

 

Increasing incidences of diabetes worldwide is predicted to steer the insistence for these tests. Additionally, the implementation of glucose biosensors has translated these tests to be utilized in many healthcare centres where they aid healthcare professionals to monitor the progression of a disease with less or no complications.

Nonetheless, this segment is more stagnated in comparison with other products and is predicted to exhibit slower growth rates during the forecast period. On the contrary, POC tests based on cancer markers are likely to record substantial growth over the forecast period.

 

The prominent factors bolstering its augmentation are the current research and development activities owing to an increasing prevalence of cancer. The invention of detecting cancer by analysing and monitoring tumour cells has improved the overall cancer diagnosis and research. Furthermore, the launch of many home-testing kits for identifying cancer is predicted to steer the growth of the segment in multiple healthcare arrangements.

 

The North America region is predicted to lead the market owing to the increased awareness coupled with a high prevalence of the disease. Government initiatives and regulations regarding the healthcare infrastructure development further justify the large global point-of-care diagnostics market share of the region.

 

Strategic acquisitions and multiple product launches by major players in the United States are predicted to steer the regional market. For example, PixCell Medical received the Food and Drug Administration (FDA) approval in November 2018 for its POC HemoScreen Hematology Analyzer. Similarly, Abbott Laboratories acquired Alere Inc. in October 2017, and this expanded the provisions of POC testing by Abbott.

 

Key players included in the global point-of-care diagnostics industry are Abbott, AccuBioTech, BioMérieux SA, Bio-Rad Laboratories, Becton, Dickinson, and Company, Chembio Diagnostics, Danaher, EKF Diagnostics, F. Hoffmann-La Roche, Instrumentation Laboratory, Johnson & Johnson, Nova, PTS Diagnostics, Sekisui Diagnostic, Siemens Healthineers, Sinocare Inc., Sysmex Corporation, Trinity Biotech, Trividia Health Inc., QIAGEN, Quidel.

 

Global Point-of-Care Diagnostics Market Segmentation:

By Product

  • Glucose Monitoring Products

- Strips

- Meters

- Lancets & Lancing Platform

- Cardiometabolic Testing Products

- Blood Gas/Electrolytes Testing Products

- HBA1C Testing Products

- Infectious Disease Testing Products

- HIV testing Products

- Hepatitis C Testing Products

- Sexually Transmitted Disease (STD) Testing Products

- Healthcare-Associated Infection (HAI) Testing Products

- Respiratory Infection Testing Products

- Tropical Disease Testing Products

- Other Infectious Disease testing Products

- PT/INR Testing Products

- Activated Clotting Time (ACT/APTT) Testing Products

  • Pregnancy and Fertility Testing Products

- Fertility Testing Products

  • Tumour/Cancer Marker Testing Products
  • Urinalysis Testing Products
  • Cholesterol Testing Products
  • Haematology testing Products
  • Drug-of-Abuse Testing Products
  • Fecal Occult Testing Products
  • Other POC Products

By Platform

  • Agglutination Assays
  • Biosensors
  • Dipsticks
  • Lateral Flow Assays
  • Microfluidics
  • Molecular Diagnostics
  • Solid Phase

By Prescription

  • Prescription-Based Testing
  • OTC Testing

By End User

  • Professional Diagnostic Centres

- Clinical Laboratories

- Hospitals/Urgent Care Centres 

- Home Care

- Research Laboratories

- Other End Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis 
  • Key trends 
  • Key data-points affecting market growth 

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global point-of-care diagnostics market by product, by platform, by prescription, by end user and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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