Sarasota, FL, Jan. 31, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Point Of Care Diagnostics Market by Products, by Prescription Mode (Prescription-Based Testing Kits and Over-The-Counter Testing Kits) Market for Hospitals, Clinics and Ambulatory Care Settings: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”. According to the report, the global point of care diagnostics market was valued at approximately USD 23.50 billion in 2016 and is expected to reach approximately USD 40.50 billion by 2022, growing at a CAGR of around 10.00% between 2017 and 2022.
The point of Care diagnostics is medical testing performed at the clinical laboratory in close proximity to where the patient is receiving care. POCT is usually performed by non-laboratory persons and the results are used for clinical decision making. Point- of-care technologies may enhance the management of different diseases and conditions. The point of Care diagnostics is of great importance in developing countries. Unfortunately, a major aspect in developing countries is that they often lack modern laboratories, fully automated instruments that provide highly reproducible, quantitative, and hence sensitive and accurate diagnostic results. In order to circumvent these issues, the emergence of rapid and easy-to-use point-of-care (POC) tests can dramatically enhance a physician’s ability to diagnose patients’ diseases rapidly and accurately.
Browse through 45 Market Tables and 24 Figures spread through 110 Pages and in-depth TOC on “Global Point Of Care Diagnostics Market: By Products, Prescription Mode, Type, Size, Analysis, Segment and Forecast 2016 – 2022”.
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The point of care diagnostics market is expected to witness lucrative growth in the near future. The market is mainly driven by technological advancement and cost-effective and high-quality medical solutions. Moreover, increasing prevalence of target diseases coupled with the rise in the aging population base which is more prone to disease growth are attributive to impact the POCT demand considerably over the years to come. However, the high cost of procedure and presence of stringent and time-consuming ambiguous regulatory framework are expected to hamper the market growth within the forecast period. Nonetheless, increasing demand from emerging economies and health care decentralization may open up new growth avenues in the near future.
The market can be segmented on the basis of products into glucose monitoring kits, cardio-metabolic monitoring kits, infectious diseases testing kits, coagulation monitoring kits, pregnancy and fertility testing kits, tumor/cancer markers, urinalysis testing kits, cholesterol test strips, hematology testing kits, drugs of abuse testing kits, fecal occult testing kits and others. Glucose testing held 40% share of the overall market in terms of revenue in 2016. Increasing prevalence of diabetes across the globe is expected to boost the demand for glucose testing in the years to come. The infectious diseases testing kits is expected to grow at the highest CAGR during the forecast period on account of the rise in a number of HIV-infected individuals.
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Some of the key prescription mode present in the market such as prescription based kits and over the counter kits. Prescription-based testing kits are expected to dominate the market in the near future due to increasing incidence of lifestyle diseases and lack of awareness on over the counter POCT devices.
Based on the end-use, the market can be segmented into hospitals, clinics, and ambulatory care settings. Clinic segment was the leading segment and it accounted for the large chunk of market share in 2016. Increasing adoption of these tests in the clinics for diagnosis of several infections and monitoring of disease progression by assessment of symptoms and other parameters is expected to boost the demand for POCT in this segment. Home health care is another important segment of this segment.
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The North America regional market is by far the largest in the global point of care diagnostics market and is set to continue its dominance across the globe. North America accounted for over 40% share of total revenue generated in 2016. This growth can be attributed to the presence of high disease prevalence levels and favorable government regulations. Furthermore, increasing awareness levels amongst the patients as well as the physicians pertaining to early disease diagnosis are expected to have the positive impact on point of care diagnostics market.
In terms of revenue, North America was followed by Europe in 2016. The Europe point of care diagnostics market is expected to witness substantial growth in the years to come. The major driving force for point of care diagnostics market is rapid growth in aged population coupled with increasing prevalence of diseases.
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Moreover, the adoption of new technological innovations and advancements is expected to witness significant growth over the forecast period.
Asia Pacific is expected to fastest growing market in near future. The growth is mainly due to the rising aging population, increasing international research collaborations, increasing R&D expenditure, and growth in the overall healthcare industry. Moreover, the point of care diagnostics market has a huge opportunity in the emerging markets of Asia Pacific due to the increasing population coupled with the rising health awareness among people, especially in China and India.
The Middle East & Africa regional market is expected to witness significant growth in the near future. Increasing demand from the Middle East and African countries such as Saudi Arabia and the UAE are expected to boost the demand for point of care testing over the years to come. Latin America is another important regional market and is expected to experience significant growth over the forecast period. Increasing prevalence of chronic diseases in this region is the major driver supporting the growth of Latin America PoC diagnostics market.
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Some of the key players in the market such as Roche Diagnostics, Alere Inc ., Danaher Corporation, Abbott Laboratories, Johnson and Johnson, Instrumentation Laboratory, Trinity Biotech PLC, OraSure Technologies Inc, bioMerieux, Qiagen N.V. and Siemens Healthcare.
This report segments the global point of care diagnostics market as follows:
Point Of Care Diagnostics Market: Product Segment Analysis
- Glucose Monitoring Kits
- Cardiometabolic Monitoring Kits
- HbA1c Testing Kits
- Lipids Testing
- Cardiac Markers
- Blood Gas/Electrolytes Testing Kits
- Infectious Diseases Testing Kits
- Influenza Testing Kits
- HIV Testing Kits
- Hepatitis C Testing Kits
- Sexually-transmitted Diseases (STDs) Testing Kits
- Tropical Diseases Testing Kits
- Healthcare-associated Infections (HAIs)
- Respiratory Infections Testing Kits
- Coagulation Monitoring Kits
- Prothrombin Time (PT/INR) Testing Kits
- Activated Clotting Time (ACT/APTT) Testing Kits
- Pregnancy and Fertility Testing Kits
- Pregnancy Testing Kits
- Fertility Testing Kits
- Tumor/Cancer Markers
- Urinalysis Testing Kits
- Cholesterol Test Strips
- Hematology Testing Kits
- Drugs of Abuse Testing Kits
- Fecal Occult Testing Kits
Point Of Care Diagnostics Market: Prescription Mode Segment Analysis
- Prescription-based Testing Kits
- Over-the-counter (OTC) Testing Kits
Point Of Care Diagnostics Market: End User Segment Analysis
- Ambulatory Care Settings
Point Of Care Diagnostics Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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