Global Point of Care Diagnostics Market promises high CAGR of 9.7% during 2019-2025
Posted On June 13, 2019
Value Market Research has published recently a report on Global Point-Of-Care Diagnostic Market. It was estimated that global point of care diagnostics market was valued USD 27.4 BN (by revenue) in 2018. In future it is anticipated to reach USD 52.6 BN by 2025 with a CAGR of 9.75% during 2019-2025. The point-of-care diagnostic device is also referred to as on-the-spot testing used to deliver immediate result outside the conventional laboratory environment. These devices offer healthcare professionals an opportunity to get the result fast near or at the site of the patient. This can be helpful in life-threatening situations where frequent monitoring is necessary and are also useful in the doctor office for a quick scan to determine a marker of a certain disease. The majority of test generally used at POC are pregnancy tests and blood glucose meter which are regarded as In-vitro diagnostic medical devices other POC devices like blood pressure monitors, thermometer, and pulse oximeter are categorized as general medical devices.
Recent advances in diagnostic technology and delivery in the healthcare sector have propelled the demand for point-of-care diagnostic devices across primary and community care environment such as pharmacies, clinics, healthcare centers, industrial medical centers, and anticoagulation clinics. The ability to provide rapid test result which permits clinical effectiveness and enhance result for the test has further boosted the product demand. Additionally, rising healthcare investment driven by growing aging population along with the increasing number of chronic disease is also expected to encourage the market growth. Further, the market is also likely to benefit from adoption of blood glucose testing in the near future as they are episodic monitoring testing devices.
The report "Global Point Of Care Diagnostics Market Report By Product (Glucose Monitoring Kits, Cardiometabolic 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), Mode (Prescription-Based Testing Kits And Over-The-Counter (OTC) Testing Kits), End-User (Hospitals, Clinics, And Ambulatory Care Settings) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast 2018-2025” reveals all the crucial data associated with the industry such as factor influencing growth path, market limitations, challenges, opportunity, estimation, forecast, and all the major recent development.
Segmentation part includes product, mode, end-user, and region. Product segment cover glucose monitoring kits, cardiometabolic 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 monitoring devices led the market as they are highly preferred by diabetic patients for episodic monitoring of blood glucose level. Also, the demand for this product is increasing because they are capable of delivering a fast and accurate result. Mode segment incorporates prescription-based testing kits and over-the-counter (OTC) testing kits. Prescription-based are gaining traction in the market owing to the growing number of aging population leading to a high prevalence of chronic disease coupled with the rising demand of these devices from the healthcare center. End-user segment encompasses hospitals, clinics, and ambulatory care settings. Healthcare sector is considered as the highest position in the market and this can be attributed to the expanding healthcare sector along with the advancement in the diagnostic tools. Also, rising investment by government subjected to growing need to cater the growing demand for enhanced testing devices. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. North America is ruling the overall point-of-care diagnostic market owing to the presence of well-established healthcare infrastructure along with rapid adoption of advanced testing kits among users in the region.
The Report Segments Global Point of Care Diagnostics Market -
Glucose Monitoring Kits
Cardiometabolic Monitoring Kits
Infectious Diseases Testing Kits
Coagulation Monitoring Kits
Pregnancy and Fertility Testing Kits
Urinalysis Testing Kits
Cholesterol Test Strips
Hematology Testing Kits
Drugs of Abuse Testing Kits
Fecal Occult Testing Kits
Ambulatory Care Settings
Middle East and Africa
Players Profiled in the Report:
Abbott Laboratories, Alere Inc., Becton, Dickinson and Company, Dnaher, F. Hoffmann-La Roche AG, Instrumentation Laboratory, Johnson & Johnson, Nova Biomedical, Omron healthcare co., ltd., and Siemens Healthcare GmbH.
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