PoC Diagnostics Market Hit New Highs, Defying Predictions
The PoC diagnostic tests facilitate quick results, hence its highly preferred by patients for their improved health. Along with that, rising market penetration of EMR and PACS have accelerated the success of POC devices and higher adoption of it leading to expansion of global PoC diagnostics market size. PoC technology has aided patients to reach diagnostics services to even rural and remote areas. Apart from that, higher usage of home-based glucose monitoring systems is trending in global PoC diagnostics industry. The global PoC diagnostics market size is slated to reach a value of xx.xx Billion by 2025, registering a CAGR of x.x% during the forecast period.
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The global PoC diagnostics market is classified on the basis of product and the categories includes infectious disease testing products, cardiometabolic testing products, fecal occult testing products, urinalysis testing products, drugs of abuse testing products, glucose monitoring products, coagulation testing products, hematology testing products, pregnancy and fertility testing products, cholesterol testing products, tumor/cancer marker testing products, and other POC products (hepatitis A & B testing, multi-assay testing, vitamin assay testing and liver testing). The highest CAGR out of all segments is credited to infectious disease testing products and is expected to maintain that during the forecast period. The growth is attributed to awareness about infectious disease POC testing products and higher patient population base.
In terms of platform, segmentation of global PoC diagnostics industry includes POC molecular diagnostics, dipsticks, lateral flow assays, immunoassays, and microfluidics. In 2017, lateral flow assays was largest segment of the market. It is attributed to adoption of lateral flow POC diagnostics and prevalence of infectious diseases.
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On the basis of end-user, the global PoC diagnostics industry is divided into home care, research laboratories, professional diagnostic centers, and other end users. Home care is anticipated to grow at the highest CAGR in the upcoming years. The growth is attributed to higher demand for rapid tests among home care users and growing preference for remote and home monitoring.
North America held nearly half of the global PoC diagnostics market share in 2015. This region accounts the prevailing spot as far as both income and volume, due to factors like the accessibility of minimally invasive equipment, the rising ubiquity of convenient testing gear and rising occurrence of substance abuse. Solely, the U.S. has impelled the North America market which is ascribed to prominent reception of early ailment discovery strategies and rising ubiquity of chroni ailments.
Is anticipated that the Asia-Pacific market will exhibit a robust growth rate and remarkable global PoC diagnostics market share which is chiefly attributed to excellent performance of Japan. Rising awareness among audience for early detection of disease along with government initiative and funds led the market growth. Some of the prominent leaders are Alere Inc., Teleflex, Inc., B. Braun Melsungen AG and Fresenius Medical Care.
The global PoC diagnostics market is dominated by Abbott (US), Roche (Switzerland) and Siemens (Germany) respectively. Other leading players who operate this rapid diagnostics market include Nova (US), PTS Diagnostics (US), Quidel (US), Chembio Diagnostics (US), Instrumentation Laboratory (US), Sekisui Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech (US), and AccuBioTech (China), among others.
Key segments of ‘Global PoC Diagnostics Market’
Based on product type, the market has been segmented into,
- Lateral flow assay test
- Flow- through test
- Solid phase assay test
- Agglutination assay test
Based on application, the market has been segmented into,
- Infectious Disease Test
- Cholesterol monitoring
- Substance abuse Test
- Fertility & Pregnancy Test
- Blood Glucose Test
Based on region, the market has been segmented into,
- North America
- Rest of Europe
- Rest of Asia-Pacific
What to expect from the upcoming report on ‘Global PoC Diagnostics Market’:
- Future prospects and current trends of the global PoC diagnostics market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing economies
- Supportive initiatives by government likely to influence the market dynamics
- Trends, drivers, opportunities, restraints, challenges and key developments in the market
- In-depth analysis of different market segmentations including regional segmentations, and product types
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market
Who should buy this report?
Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers, researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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