Point Of Care Diagnostics Market - 2018-2026
Point Of Care Diagnostics Market
The global point of care diagnostics/testing market was esteemed at USD 18.09 billion out of 2018 and is relied upon to enroll a CAGR of 3.3% over the figure time frame. Constant improvements in R&D exercises to scale down sub-atomic and professional diagnostic tests is foreseen to drive the interest for the devices. What's more, upgrades in lab mechanization methods combined with presentation of financially savvy and great medical arrangements is set to impel the development
One of the major factors responsible for the growth of the market is the rising prevalence of chronic and infectious diseases in developing economies. The prevalence of chronic diseases, like diabetes, rheumatism, or cancer, is increasing globally, due to various reasons, such as an increase in geriatric population, sedentary lifestyles, unhealthy food habits, and environmental factors. For instance, chronic diseases kill more than 38 million people each year, globally. Cardiovascular diseases account for most chronic disease deaths, or 17.5 million people, annually, followed by cancers (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million). The aforementioned diseases account for 82% of all the chronic disorder deaths. Point-of-care diagnostics is gaining wide acceptance by different patients across the world, as samples are collected from the patient’s location for performing tests, and the results can be achieved in very less time, due to the use of micro fluids, chips, and nano diagnostics.
Factors, such as the increasing number of regulatory approvals for novel immunoassay techniques, technological advancements, and the rising usage of home-based POC devices, are expected to drive the market growth, over the forecasted period.
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Top Key Players Of Point Of Care Diagnostics Industry:
F. Hoffmann-La Roche
A. Menarini Diagnostics
General Life Biotechnology
Scope of the Report
Point-of-care testing diagnostics have many advantages, which allows patient diagnoses at many places, such as in the physician’s office, an ambulance, the home, the field, or in the hospital. The results of care are timely and offer rapid treatment to the patient.
Development of Electronic Medical Records (EMR) use with Point of Care (POC) diagnostics has improved patient care. EMR encourages transmission of test results from POC devices to research center or medical clinic data framework, limiting the remaining task at hand and errors in wellbeing information.
Moreover, patients and clinicians are progressively disposed towards the utilization of POC diagnostic tests with expanding levels of patient mindfulness about the POC procedures drives the market. Additionally, insignificantly talented professionals effectively use POC devices for conclusion, which fills in as one of the market drivers.
Expanding pervasiveness of chronic disorders combined with ascend in geriatric populace builds the client base who are increasingly inclined to ailment improvement drives the market extension. As per the International Diabetes Federation, around 425 million grown-ups globally had diabetes in 2017-18 and it is required to raise up to 629 million cases by 2045. POC glucose meters have demonstrated to be fundamentally helpful in overseeing glycemic levels in diabetic patients.
Different elements driving the POC diagnostics/testing market development incorporate rising speculation by numerous open establishments. As provided details regarding November 2018, the Massachusetts Medical Device Development Center set up an inside with the help of USD 7.9 million award from the National Institute of Health (NIH). This middle spotlights on helping financial specialists who are managing point-of-care products and technologies.
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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component
Blood Glucose Testing is Expected to Hold Major Revenue Share in the Type of Products Segment
Blood glucose testing point-of-care diagnostics captured the largest share in 2018, due to the success of hand-held glucose meters, owing to their high adoption rate among the population across the world. Periodic monitoring of glucose level is of vital importance for diabetic patients, which has encouraged the adoption of POC among the diabetic patients in this segment. Other advantages associated with hand-held glucose meters are the portability and easy operability. Rising prevalence of diabetes across the world is expected to boost the segment growth in the future.
North America Dominates the Market and is Expected to do Same in the Forecast Period
Currently, North America dominates the market for point-of care-diagnostics, and is expected to continue its stronghold for a few more years. In the North America region, the United States holds the largest market share. This can be majorly attributed due to the growing geriatric population base in the country, as well as the factors, such as the increasing prevalence of diseases and the favorable government regulations and initiatives undertaken for the development of healthcare infrastructure.
A few private elements, for example, Dartmouth College, California Institute of Technology, and global associations are additionally engaged with POC advancement programs. For example, in August 2018, the American Association for Clinical Chemistry discharged affirmation program for POC testing professionals, to improve their diagnostic testing outside the clinical research centers.
Facilities portion caught the biggest market share as far as income in 2018. Countless Clinical Laboratory Improvement Amendments (CLIA)- postponed tests are executed inside facilities for conclusion of a differing scope of disorders. Plus, accessibility ofseveral convenient POC devices outside the medical clinic setting drives the POC diagnostics in facilities.
Decentralization of essential care benefits in different territorial markets and activities by government offices, for example, National Health Service expand the portion development. In February 2018, the National Science Foundation granted USD 10.0 million to the Houston's Rice University for the advancement of a POC arrangement named mHealth gadget.
In any case, locally established POC testing is relied upon to develop as the quickly developing portion during the conjecture time frame. Presentation of efficient and compact POC products for early identification and counteractive action of ailments support the interest of home POC testing section. Additionally, rise of POC in home settings likewise keep up solace level of patients.
Glucose testing drove the market in 2018 because of an improved commercialization pace of convenient glucose meters in recent years. Patients know about the way that checking of glucose level at ordinary interims is basic for diabetic patients. This has prodded the work of hand-held glucose meters in home care settings.
High predominance of diabetes over the world is anticipated to drive the interest these tests. Furthermore, usage of glucose biosensors likewise makes an interpretation of these tests to be utilized in a few healthcare focuses where they bolster the clinicians to screen sickness movement with lesser difficulties.
Be that as it may, this portion is generally increasingly immersed when contrasted with different products and is foreseen to witness more slow CAGR over the gauge time frame. Then again, malignant growth markers based POC testing fragment is probably going to enroll rewarding pace all through the estimate time frame.
The central point encouraging its development is progressing R&D exercises because of expanding malignant growth commonness. The approach of malignancy identification by observing and breaking down coursing tumor cells has improved the disease research and analysis. Additionally, dispatch of a few home-testing malignant growth units is relied upon to drive the section development in different healthcare settings.
North America represented the most elevated market share in 2018 because of the high mindfulness joined by high malady commonness. Great government guidelines and activities relating to improvement of healthcare foundation likewise support for the huge portion of this area.
Various item dispatches and vital improvements by key players in U.S. are additionally foreseen to drive the provincial market. For example, in November 2018, PixCell Medical got the Food and Drug Administration (FDA) endorsement for its point of care HemoScreen Hematology Analyzer. Similarly, in October 2017, Abbott Laboratories obtained Alere Inc. that fortified the POC testing offerings of Abbott.
Then again, Asia Pacific is anticipated to be the most appealing territorial fragment. This is significantly because of vital activities received by global players to improve healthcare foundation. Developing mindfulness and nearness of a tremendous patient pool in creating economies, for example, India and China can further fuel the provincial interest.
For example, in April 2017, the U.S. based POC diagnostic test supplier, Chembio Diagnostics, Inc., worked together with FIND to recognize hazardous disorders in the Asia Pacific locale. Together, they distinguished numerous illnesses by utilizing Chembio's DPP innovation stage. Such projects prompted extension of inventive POC diagnostic tests particularly in creating countries.
The key players working in the market incorporate F. Hoffmann-La Roche Ltd.; Danaher Corporation; Abbott Laboratories; bioMérieux SA; Instrumentation Laboratory SpA; Nova Biomedical; Trividia Health, Inc.; QIAGEN; Becton Dickinson and Company; Sekisui Diagnostics LLC; Quidel Corporation; and Siemens Healthcare GmbH.
Key members take part in commercialization their products through the medical gear merchants that work in a few territorial markets. These are additionally engaged with improvement of increasingly modern seat top testing products, representing huge challenge concerning the dispersion system and market nearness.
The point-of-care diagnostics market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With rising prevalnce of diseases and increasing number of aging population, other players are also expcted to enter into the market. Some of the major players of the market are Abbott, Siemens AG, Becton, Dickinson and Company, Johnson and Johnson, and F. Hoffmann-La Roche Ltd, among others.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics Supply and demand
Market size Current trends/opportunities/challenges
Value chain and stakeholder analysis
With the given market data, We offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Product Analysis: Product matrix, which gives a detailed comparison of the product portfolios of each company
- Geographic Analysis: Further breakdown of the European, Asia Pacific, and the Rest of the World segments into their respective countries for this market
- Company Information: Detailed analysis and profiling of additional market players (up to 5)
- Volume Data: Customization options for volume data (number of units sold) and customization options for volume data (number of tests)
- Opportunities Assessment: A detailed report underlining the various growth opportunities presented in the market
The report includes six parts, dealing with:
1.) Basic Information
2.) The Asia Point Of Care Diagnostics Speaker Market
3.) The North American Point Of Care Diagnostics Speaker Market
4.) The European Point Of Care Diagnostics Speaker Market
5.) Market Entry And Investment Feasibility
6.) The Report Conclusion
Table of Content: Point Of Care Diagnostics Market 2026
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
The key insights of The Report Research:
1.The report Research provides key statistics on the market status of the Point Of Care Diagnostics manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report Research provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report Research presents the company profile, product specifications, capacity, production value, and 2018-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report Research estimates 2018-2026 market development trends of Point Of Care Diagnostics industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report Research makes some important proposals for a new project of Point Of Care Diagnostics Industry before evaluating its feasibility.
Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
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