Global Point of care testing market valued approximately USD 23.6 billion in 2017 is anticipated to grow with a healthy growth rate of more than 10.0% over the forecast period 2018-2025. Healthcare decentralization coupled with the technological advancements are considered as the key growth trends for the global point of care testing market over the forecast period.
Key driving factors for the point of care testing market are high prevalence of chronic and infectious diseases along with the government support to promote point of care testing. According to the fight chronic disease organization in 2015, in U.S. 133 million deaths are caused and disability due to chronic diseases. It is estimated that 45% Americans populations are suffering from at least one chronic disease. Since point of care testing is a faster and efficient diagnostic test that offers better monitoring, diagnosis, disease management. As a result, the adoption and demand for point of care testing products would increase thereby, supplementing the growth of the market over the forecast period.
Furthermore, growing awareness of point-of-care testing offers lucrative growth prospects for the point of care testing market across the globe. However, stringent government policies are expected to hinder the growth of the market during the forecast period.
On the basis of segmentation, the point of care testing market is segmented into product, platform, mode and end-user. The product segment of global point of care testing market is classified into Glucose Monitoring Products, Infectious Disease Testing Products, Cardiometabolic Testing Products, Pregnancy & Fertility Testing Products, Coagulation Testing Products, Tumor/Cancer Marker Testing Products, Pregnancy & Fertility Testing Products, Cholesterol Testing Products, Urinalysis Testing Products, Drugs-of-Abuse Testing Products, Hematology Testing Products, Fecal Occult Testing Products and other POC products of which glucose monitoring testing products accounts the largest share owing to the increasing prevalence of diabetes.
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On the basis of platform, the market is diversified into microfluidics, lateral flow assays, dipsticks, immunoassays, molecular diagnostics. The end-user segment is classified into research laboratories, home care, professional diagnostics centers and other end-users. Also, the mode segment is bifurcated into OTC-based testing and prescription-based testing.
The regional analysis of point of care testing market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in point of care testing market owing to the high awareness amongst healthcare providers and patients regarding early disease diagnosis along with increasing healthcare expenditure. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific is witnessed owing to companies engaged in exploiting the untapped opportunities.
The leading market players include-
o Abbott Laboratories
o Siemens Healthineers
o Roche Diagnostics
o Becton, Dickinson and Company
o Quest Diagnostic
o Johnson & Johnson
o Danaher Corporation
o EKF Diagnostics
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
o Glucose Monitoring Products
o Infectious Disease Testing Products
o Cardiometabolic Testing Products
o Pregnancy & Fertility Testing Products
o Coagulation Testing Products
o Tumor/Cancer Marker Testing Products
o Cholesterol Testing Products
o Urinalysis Testing Products
o Drugs-of-Abuse Testing Products
o Hematology Testing Products
o Fecal Occult Testing Products
o Other POC products
o Lateral Flow Assays
o Molecular diagnostics
o OTC-based testing
o Prescription-based testing
o Research laboratories
o Home care
o Professional diagnostics centers
o Other End Users
o North America
o Asia Pacific
o Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Point of care testing Market in Market Study:
o Key Consulting Companies & Advisors
o Large, medium-sized, and small enterprises
o Venture capitalists
o Value-Added Resellers VARs
o Third-party knowledge providers
o Investment bankers
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