Global Point of Care Diagnostics Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026
Date : Apr 2020
Report ID : 248
Category : Healthcare
The global point of care diagnostics market was valued at US$ 17,886.3 Mn 2018 and is expected to reach US$ 30,175.3 Mn 2026, growing at a CAGR of 6.8% during the forecast period.
|Point of Care Diagnostics Market Segmentation Scope|
|By Product||1. Glucose Monitoring Products|
|-1. Glucose Meters|
|2. Pregnancy & Fertility testing products|
|-1. Pregnancy testing products|
|-2. Fertility testing products|
|3. Infectious Disease testing products|
|-1. HIV testing products|
|-2. Respiratory Infection testing products|
|-3. Hepatitis C testing products|
|-4. Sexually Transmitted Disease (STDs) testing products|
|-5. Other infectious Disease testing products|
|4. Coagulation Testing Products|
|5. Cardiometabolic Testing Products|
|6. Hematology Testing Products|
|7. Urinalysis Testing products|
|8. Cancer/Tumor Marker testing products|
|9. Others Point of care testing products|
|By Prescription Mode||1. Prescription|
|2. Over-the-counter (OTC)|
|By End-user||1. Hospitals & Clinics|
|2. Homecare & DTC|
|By Region||1. North America (US and Canada)|
|2. Europe (UK, Germany, France, Italy, Spain and Rest of Europe)|
|3. Asia Pacific (China, Japan, India and Rest of Asia Pacific)|
|4. Rest of the World (Latin America and Middle East & Africa)|
Point of care diagnostics, also referred to as near-patient or bedside testing, includes the use of medical devices for the quick diagnosis of various diseases including diabetes, cardiovascular diseases, and cancer, amongst others. Such test includes glucose and cholesterol level tests, pregnancy test, cardiac markers, blood test, enzyme analysis, and various other tests for infectious diseases. The main advantages to of point-of-care testing such as ease-of-use and rapid diagnosis which facilitates better diagnosis and management, has led to increasing adoption of these devices in healthcare settings.
The growth of the point of care diagnostics market is primarily driven by the high prevalence of chronic and infectious diseases in developing countries, rapid technological advancements, and shortage of availability of skilled laboratory technicians. However, the market growth is expected to be hindered by the stringent regulatory policies and the issues regarding the accuracy and reliability of point of care tests.
Global Point of Care Diagnostics Market Size, 2016-2026, (US$ Mn)
The Glucose Testing devices will dominate the market throughout the forecast period
Based on type, the point of care diagnostics market has been segmented into glucose monitoring products, Pregnancy & Fertility testing products, Infectious Disease testing products, Coagulation Testing Products, Hematology Testing Products, Cardiometabolic Testing Products, Urinalysis Testing products, Cancer/Tumor Marker testing products, Others Point of care testing products .The glucose monitoring products segment is expected to dominate the market in terms of value during the forecast period. The cardiometabolic testing products segment accounted for a share of around 19% in the year 2018.
While infectious diseases are expected to accounted for the major market share in the global market during the forecast period. The growth in the population in the developing countries and further increase in the awareness for infectious disease POC testing products with increase in the average individual disposable income are expected to create growth opportunities in the market.
Based on prescription mode, the OTC-based testing segment is expected to grow at a CAGR of around 7.0% during the forecast period
Based on prescription mode, the market has been segmented into prescription-based testing and OTC-based testing. The prescription-based testing segment accounted for the largest share in the market and while OTC-based testing segment is expected to grow at a CAGR of around 7.0% during the forecast period. The major factors that are driving the growth of the OTC-based testing segment are increasing adoption of these tests by patients, and the increasing number of countries approving OTC based tests. Glucose monitoring products and pregnancy and fertility testing kits account for the majority of sales in the OTC segment. The availability of these products on e-commerce websites and in supermarkets has provided greater accessibility to people, thus driving the growth of this segment.
Based on end-user, the homecare & DTC segment is expected to grow at the highest CAGR during the forecast period
Based on end-user, the market has been segmented into hospitals & clinics, homecare & DTC, and others. The hospitals & clinics application segment accounts of the largest share in the market.
Point-of-care tests provide actionable insights and they have a quick turnaround time and thus, enable faster clinical decision-making. This has led to an increase in the use of point-of-care tests in critical care and ambulatory settings, which is driving the growth of this market segment. Additionally, the use of point-of-care tests help hospitals manage patient flow and benefit from a resultant decrease in costs. Therefore, more and more hospitals and clinics are adopting PoC tests.
However, the homecare & DTC segment is expected to exhibit the highest CAGR during the forecast period. Increasing prevalence of chronic diseases that require regular monitoring of certain vital factors, such as glucose in the case of diabetes, is driving the growth of this end-user segment.
North America to dominate the point of care diagnostics market throughout the forecast period
North America accounted for more than 37% share of the global point of care diagnostics market in 2018 and is expected to dominate the market throughout the forecast period followed by Europe and Asia-Pacific. The major factors for the dominance of North America region in the point of care diagnostics market due to growing government initiatives to increase the adoption of POC devices and the rise in the prevalence of lifestyle diseases. Moreover, the increase in the product launches and strategic developments owing to the presence of leading point of care diagnostics manufacturers are anticipated to drive the market growth during the forecast period.
Asia-Pacific is expected to hold the highest CAGR during the forecast period owing to presence of large target patient population and increasing awareness for POC diagnostics and monitoring services. Additionally, the US manufacturers are investing in the region to meet the demand for POC diagnostics devices due to rising prevalence of chronic and infectious diseases. For instance, In April 2017, Chembio Diagnostics, Inc., collaborated with FIND to identify life-threatening disorders in the region.
Company Profiles and Competitive Intelligence:
The major players operating in the global point of care diagnostics market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Danaher Corporation (US), Becton Dickinson & Company (US), Quidel Corporation (US), Sekisui Diagnostics LLC (US), Siemens Healthcare GmbH (Germany), and Trinity Biotech (US) and bioMérieux SA (France) among others. Other prominent players in the market are PTS Diagnostics, OraSure Technologies, Nova Biomedical, Chembio Diagnostics Systems Inc, and EKF Diagnostics amongst others.
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Chapter 9 Preface
9.1 Data Triangulation
9.2 Research Methodology
9.2.1 Phase I – Secondary Research
9.2.2 Phase II – Primary Research
9.2.3 Phase III – Expert Panel Review
9.2.4 Approach Adopted
188.8.131.52 Top-Down Approach
184.108.40.206 Bottom-Up Approach
9.2.5 Supply- Demand side
9.2.6 Breakup of the Primary Profiles
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