With the growing need for early disease diagnosis and improved patient outcomes, in vitro diagnostics is shifting from centralized laboratories to decentralized point-of-care (POC) testing. POC testing is gaining traction as it enables rapid detection of analytes near to the patient, which facilitates quick medical decisions and better disease diagnosis, monitoring, and management.
London, July 17, 2019 (GLOBE NEWSWIRE) -- According to the latest publication from Meticulous Research®, the global point of care diagnostics market is expected to grow at a CAGR of 8% from 2018 to reach $30.9 billion by 2024. With the growing need for early disease diagnosis and improved patient outcomes, in vitro diagnostics is shifting from centralized laboratories to decentralized point-of-care (POC) testing. POC testing is gaining traction as it enables rapid detection of analytes near to the patient, which facilitates quick medical decisions and better disease diagnosis, monitoring, and management.
The growth of the global point of care diagnostics/POC market is mainly driven by the growing burden of infectious diseases, rising geriatric population coupled with the growing prevalence of chronic diseases, and technological advancements. In addition, factors such as rising number of CLIA-waived POC tests, shortage of skilled laboratory technicians, increasing funding/investments for the development of POC products further support the growth of this market. However, presence of stringent regulatory policies especially in developed economies, and pricing pressures owing to reimbursement cuts and budget constraints may hinder the growth of point of care diagnostics market to some extent.
Browse key industry insights spread across 293 pages with 230 market data tables & 60 figures & charts from the report: https://www.meticulousresearch.com/product/point-of-care-diagnostics-poc-market/
The global point of care diagnostics market is segmented by product, platform, mode, end user, and geography.
Based on product, the global point of care diagnostics market is mainly segmented into blood glucose monitoring testing, infectious disease testing, cardiac metabolic monitoring testing, coagulation monitoring testing, pregnancy & fertility testing, fecal occult testing, hematology testing, tumor/cancer marker testing, drug of abuse testing, urinalysis testing, cholesterol testing, and other POC testing kits. The blood glucose monitoring testing segment held the largest share of the overall POC market, mainly attributed to high prevalence of diabetes population, need for early detection of Hypo and Hyperglycemic diabetes, convenience of POC glucose monitoring over conventional monitoring, and growing technological innovations. However, infectious disease testing segment is expected to witness the highest CAGR during 2018-2024, owing to increasing burden of infectious diseases especially in developing regions and need for rapid diagnostics.
Request Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=4871
On the basis of platform type, point of care diagnostics market is segmented into lateral flow assays (immunochromatography tests/lateral flow immunoassays), dipsticks, microfluidics, and molecular diagnostics. Lateral flow assay (immunochromatography tests/lateral flow immunoassays) is the most commonly and widely used platform for POC testing. This segment is estimated to account for the largest share of the global point of care diagnostics market, by platform in 2019. However, concerns over the low clinical sensitivity of some antigen detection lateral flow immunoassays have led to a considerable effort to develop molecular diagnostics that can provide high sensitivity and a rapid diagnosis at the POC. Thus, POC molecular diagnostics segment is slated to grow at the highest CAGR during the forecast period.
Based on end user, the global point of care diagnostics market is mainly segmented into home care/self-testing, physician offices & outpatient/ambulatory care settings, hospitals, and academic & research institutes. The home care/self-testing segment is estimated to account for the largest share of the overall POC market in 2019 and is also expected to witness the highest CAGR during 2018-2024, owing to the mounting inclination for home healthcare and remote monitoring, and expanding need for rapid tests among home care users.
Speak to our expert analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4871
Geographically, the global point of care diagnostics market is segmented into five major regions, namely, North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America is estimated to account for the largest share of the global point of care diagnostics market in 2019. The major share of North America in POC testing market is mainly attributed to high prevalence of non--communicable diseases; greater focus on preventive measures and improved patient outcomes; better adoption of technically advanced products; and presence of various POC companies in this region.
The global POC diagnostics market is concentrated with top 5 players accounting majority of the total market share in 2018. The key players operating in this market are Roche Diagnostics (U.S.), Abbott Laboratories (U.S.), Johnson and Johnson Service, Inc. (U.S.), Siemens Healthineers (Germany), Danaher Corporation (U.S.), AccuBioTech Co., Ltd. (China), Becton Dickinson and Company (U.S.), Chembio Diagnostic Systems, Inc. (U.S.), EKF Diagnostics Holdings plc (U.K.), WerfenLife, S.A. (Spain), Nova Biomedical (U.S.), Sekisui Diagnostics LLC (U.S.), Quidel Corporation (U.S.), OraSure Technologies, Inc., and Trinity Biotech (Ireland), among several other small players.
Scope of the Report:
Point Of Care Diagnostics Market by Product:
Blood Glucose Monitoring Testing Products
Lancets & Lancing Devices
Cardiac-Metabolism Monitoring Testing Products
Blood Gas/Electrolytes Testing
Infectious Disease Testing Products
Hepatitis C Testing
Sexually Transmitted Disease (STD) Testing
Healthcare-Associated Infection (HAI) Testing
Respiratory Infection Testing
Tropical Disease Testing
Other Infectious Disease Testing
Coagulation Monitoring Products
Prothrombin Time (PT/INR) Testing
Activated Clotting Time (ACT/aPTT) Testing
Pregnancy and Fertility Testing Products
Tumor/Cancer Markers Testing Products
Urinalysis Testing Products
Cholesterol Testing Products
Hematology Testing Products
Drugs of Abuse Testing Products
Fecal Occult Testing Products
Other POC Testing Products
Point Of Care Diagnostics Market by Platform:
Lateral Flow Assays (Immunochromatography Tests/Lateral Flow Immunoassays)
Point Of Care Diagnostics Market by Mode:
Over-the-counter (OTC) Testing
Point Of Care Diagnostics Market by End User:
Physician Offices & Outpatient/Ambulatory Care Settings
Point Of Care Diagnostics Market by Geography:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
Browse Related Reports:
Digital Diabetes Market by Product (SMBG, CGM, Smart Insulin Pump, Smart Insulin Pens, Software, Apps), End User (Home Care, Hospitals and Clinics), and Geography–Global Forecast to 2025
Infectious Disease Diagnostics Market by Product (Assays and Kits, Instruments, and Software & Services), Technology (Immunodiagnostics, NGS, PCR), Disease Type (Hepatitis, HIV, HPV, Tuberculosis), End User, and Geography - Global Forecast to 2025
About Meticulous Research®
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Mr. Khushal Bombe
Direct Lines: +1-646-781-8004 (North America)
+91 744-7780008 (Asia-Pacific)
Visit Our Website: https://www.meticulousresearch.com/
Meticulous Research® Blog: https://meticulousblog.org/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research