A recent report on Point Of Care Diagnostics Market provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Point-of-Care Diagnostics Market is valued at USD 22688.6 Million in 2018 and expected to reach USD 46308.9 Million by 2025 with the CAGR of 10.73% over the forecast period.
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Point-of-care testing diagnostics (POCD) refers to the rapid detection of diseases near to patient, which provides an appropriate diagnosis, monitoring and management. Potentially it offers fast medical treatment to improve health outcome of patients to cure medical conditions. Consequently, POCD can be integrated with healthcare system to provide laboratory testing outside of the main laboratory with dedicated clinical settings. Recent advancements in point of care diagnostics have made testing easier that can be performed by moderately trained staff and require less human interaction. For example, sensor technologies is used to perform rapid testing of blood samples for many critical assays, where biosensors are used for drug screening, appropriate measurement of blood cells, detection of cardiac markers and glucose testing.
Key Players for Point-of-Care Diagnostics Market Report–
Some major key players for global Point-of-Care Diagnostics market are Abbott Laboratories, Becton Dickinson & Co, Bio-Rad Laboratories, Inc, Trinity Biotech, Accubiotech, Quidel, Danaher, F. Hoffmann-La Roche Ltd, Nova Biomedical, Dickinson and Company and Others.
Point of Care Diagnostics Market Segmentation-:
Glucose testing, Infectious disease, Blood gas electrolyte, Cardiac biomarker
Coagulation, Cholesterol, Pregnancy, Drugs of abuse, Urinalysis, Hematology, Other
Prescription-based Testing, OTC-based Testing
Hospitals and Clinics, Homecare Settings, Diagnostic Centers
Rising incidences of chronic diseases such as diabetes, cancer and increasing geriatric population are expected to drive the Point-of-Care Diagnostics Market growth.
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The regions covered in this Point-of-Care Diagnostics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Point-of-Care Diagnostics market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Point-of-care diagnostics market is expected to show a high growth owing to the rising demand of home based healthcare devices collectively on account of providing rapid test results for positive health outcome of patients. In addition, in time sensitive medical conditions, POCD devices provide requirements along with cost effective test procedure, timely medical care for ambulatory patients which create the immense demand of these types of medical solutions. Furthermore, patient’s inclination towards early detection of chronic diseases as well as rising geriatric population are also supplementing the demand for point of care diagnostics devices with immediate test results made positive outlook in healthcare delivery.
Globally, aged population over 60 years was 962 million in 2017; the number of older population is expected to reach around 2.1 billion by 2050. For example, i-STAT System offers most comprehensive testing solutions include cardiac markers, blood gases, lactate, chemistries and electrolytes, coagulation, and hematology. Diabetes covers nearly 67% of POCD market. However, before consideration of implementing any point of care device, regulatory requirements should be performed that arise as a biggest challenge for the further growth of this market. Untapped potential of lab on chip technology will create opportunities for future expansion of POCT market.
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