DUBLIN--(BUSINESS WIRE)--The "Global Point of Care Testing Market (By Diagnostics Segment, Mode, End Users, Regions), 100 Company Profiles - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global point of care testing (POCT) market is expected to surpass US$ 37 Billion by 2025
Point of care testing is a medical diagnostic test that allows physicians and medical staff to correctly attain real-time, lab-quality diagnostic results within minutes rather than hours. POC testing appears to be headed for a bigger role in diagnosis and monitoring patient care.
Over the years, the increasing introduction of transportable, portable, and handheld instruments has resulted in the migration of POC testing from the hospital environment to a range of medical environments including the workplace, home, disaster care and most recently, convenience clinics.
Furthermore, growing awareness about early disease diagnosis and prevention has stimulated the demand of point of care testing for detection of cancer and infectious disease at early stages. Rising incidence of infectious diseases and chronic conditions such as cardiovascular diseases and diabetes in developing countries such as India and China have stimulated demand for point of care testing services.
As per the International Diabetes Federation (IDF) Diabetes Atlas, over 415 million people aged between 20-79 years had diabetes in 2015 globally. This number is estimated to reach 642 million by 2040. Hence, growing infectious diseases and chronic conditions will enhance the point of care testing market in the near future.
By Diagnostics Segment - Global Point of Care Testing Market & Forecast
Based on diagnostics segment, the point of care testing market is dominated by blood glucose testing segment. Increasing prevalence of diabetes in developing as well as developed economies and the rising inclination of patients towards home testing is the major driver that will drive segmental growth over the forecast timeframe. Cardiac marker segment is expected to grow at the highest rate during the forecast period.
The growing prevalence of cardiovascular ailments, increasing purchasing power, rise in the geriatric population, associated with high susceptibility to chronic diseases related to cardiac disorders, and economical diagnosis of chronic diseases in rural areas is expected to drive the market for cardiac markers. Blood Coagulation and Clinical Chemistry segment is competing closely with each other to grab maximum share of the pie.
By Mode - Global Point of Care Testing Market & Forecast
On the basis of mode, the point of care testing market is dominated by OTC-based testing segment. OTC tests do not require dedicated space as clinical laboratory, and even their turn around time is quick. The Prescription based testing segment is expected to grow at the highest rate during the forecast period.
By End Users - Global Point of Care Testing Market & Forecast
Based on end users, the point of care testing market is segmented into Hospitals, Clinics, Laboratories, Home Care and Assisted Living Healthcare Facilities. Hospitals held majority of the point of care testing market, followed by Clinics. Increase in prevalence of chronic conditions such as cancer and cardiovascular diseases that require proper monitoring and prefer minimally invasive procedures are carried out in hospitals and clinics. The home care segment is expected to grow at the highest CAGR during the forecast period driven by increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.
By Region - Global Point of Care Testing Market & Forecast
The point of care testing market, by region, is dominated by North America and is expected to maintain its position throughout the forecast period. This can be attributed to rising prevalence of chronic disorders and infectious diseases, which need portable and rapid diagnosis, increasing number of product approvals, and rising government initiatives to support the adoption of POCT in this region.
Europe held second highest share of the point of care testing market. Asia-Pacific point of care testing market is expected to grow at the fastest rate during the forecast period driven by growing geriatric population base, rising prevalence of target diseases, increasing demand for home healthcare and the introduction of new products enabled with advanced technologies.
Market Dynamics
Growth Drivers
- Point-of-care Testing: A Step to the Future
- High Prevalence of Chronic and Infectious Diseases
- Continued Expansion of Point of Care Including Self Testing
- The Promise of Point-of-Care Testing
- Future of Point of Care Testing - The Worried Well'
- Hub and Spoke
- Education
Challenges
- Point of Care (POC) Testing Barriers in Low & Middle-Income Countries
- Barriers to Adoption & Scale-up of POC Technologies
- Technical, Administrative & Operational Barriers of Point of Care Tests
- Health System Related Barriers of Point of Care Tests
- Economic Barriers of Point of Care Tests
- Policy/Regulatory Guidelines and Funding Challenges
- Infrastructure Barriers and Challenges with POC Diagnostics Development
Company Profiles
- Abbott Laboratories
- Siemens Healthineers
- Roche Diagnostics
- Quest Diagnostics
- Becton, Dickinson and Company
- ACON Laboratories
- Abaxis, Inc
- Abingdon Health, Ltd
- Access Bio, Inc
- AccuBioTech Co, Ltd.
- Akers Biosciences, Inc.
- Alfa Scientific Designs, Inc
- American Bio Medica Corporation
- AmniSure International
- Aquila Diagnostic Systems, Inc
- ARKRAY Inc
- Artron Laboratories Inc.
- Ascensia Diabetes Care Holdings AG
- Ativa Medical Corporation
- Atlas Link Biotech Co. Ltd
- Audit Diagnostics
- Augurix Diagnostics
- Autobio Diagnostics Co. Ltd
- Axxin
- Beckman Coulter, Inc
- Bhat Bio-Tech India Private Ltd.
- bioLytical Laboratories
- BioMedomics, Inc
- Biomerica, Inc.
- bioMerieux SA
- Biophor Diagnostics, Inc
- Bio-Rad Laboratories Inc.
- Bioscan Screening Systems, Inc.
- Biosensia Ltd.
- BTNX Inc.
- Boditech Med Inc
- Xiamen Boson Biotech Co. Ltd
- Calypte Biomedical Corporation
- Cepheid, Inc
- Chembio Diagnostic Systems, Inc
- Clarity Diagnostics, LLC
- Confirm Biosciences
- CTK Biotech, Inc.
- Daktari Diagnostics
- Danaher Corporation
- Dexcom, Inc
- DIALAB GmbH
- DiaSys Diagnostic Systems GmbH
- Diazyme Laboratories, Inc.
- DNA Electronics Ltd. (DNAe)
- EKF Diagnostics Holdings plc
- ELITechGroup, Inc.
- Eurolyser Diagnostica GmbH
- Exact Sciences Corporation
- Exalenz Bioscience Ltd
- Genedrive plc
- GeTein BioMedical, Inc.
- Helena Laboratories
- Hemosure, Inc.
- Immunostics, Inc.
- Instrumentation Laboratory
- JAL Innovation PTE LTD
- Jant Pharmacal Corporation
- LamdaGen Corporation
- LifeScan, Inc
- LifeSign, LLC
- MBio Diagnostics, Inc
- Medix Biochemica
- Medtronic, Inc
- Menarini Diagnostics S.R.L.
- Meridian Bioscience, Inc
- Nano-Ditech Corporation
- Noble Medical, Inc
- Nova Biomedical, Corp.
- Oasis Diagnostics Corporation
- OPKO Health, Inc
- OPTI Medical Systems, Inc
- OraSure Technologies, Inc
- Polymed Therapeutics Inc.
- Preventis GmbH
- Princeton Biomeditech Corporation
- QuantuMDx Group Limited
- Radiometer Medical A/S
- Response Biomedical Corp
- Reszon Diagnostics International Sdn. Bhd
- Samsung Healthcare
- Savyon Diagnostics
- Sekisui Diagnostics LLC
- Siloam Biosciences, Inc
- Sysmex Corporation
- TECHLAB, Inc.
- Teco Diagnostics
- Trinity Biotech PLC . Trividia Health
- Tulip Diagnostics Ltd
- Veredus Laboratories PTE Ltd
- Vircell . WAMA Diagnostica
- Wave Biosciences
- Werfen
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