Point Of Care Diagnostics Market Is Anticipated To Reach $ 20.9 Billion By 2024: Grand View Research, Inc.
The global point of care (PoC) diagnostics market is
anticipated to reach USD 20.9 billion by 2024, according to a new report by
Grand View Research, Inc. Rise in the R&D funding and research activities
amongst the market players in order to introduce novel POC tests and devices
for ease of disease detection and monitoring is expected to fuel industrial
progress through to 2024.
Moreover, the introduction of favorable regulatory
initiatives in order to promote the development and adoption of POC diagnostic
tests is anticipated to propel growth in the coming years. Furthermore,
advancement of diagnostic laboratories and adaptation of more integrated and
automated lab systems are also factors expected to fuel demand for advanced
workflow systems and drive the digital pathology and workflow segment through
to 2024.
Browse full research report on Point Of Care Diagnostics
Market: http://www.grandviewresearch.com/industry-analysis/point-of-care-poc-diagnostics-industry
Further key findings from the report suggest:
- Glucose
testing accounted for the largest share in revenue in 2015 owing to the
higher prevalence of diabetes. Presence of significant product portfolio
pertaining to glucose testing in the market and the presence of a number
of major players as wells as local manufacturers from different regions
are factors attributive to contribute substantially to the revenue
generated.
- Hb1Ac
POC tests are more reliable for glucose testing and due to the vast
patient base for diabetes management, this segment is second in terms of
revenue generation in the POC market only to its counterpart. Owing to the
presence of glucose testing segment as a potential market and growing cost
effectiveness of Hb1Ac tests, it is expected that over the coming decade
it will witness considerable growth in demand and usage
- POC
tests for infectious disease testing, is another segment of prime activity
in the point of care industry. This segment includes rapid diagnostic
tests for a considerable number of diseases including HIV, HBV, RSV, HPV,
Influenza, HCV, MRSA, TB/dr-TB & HSV among others.
- Owing
to the growing incidence of a number of infectious diseases, initiatives
taken by a number of governments to implement early diagnosis and
screening, and development of rapid tests able to distinguish between a
wide number of pathogens this segment has been observed to be at the
demand receiving end in the industry for the better half of the last
decade and is only expected to witness growth in demand.
- Hospitals
are estimated to be the dominant end-users for POC diagnosis industry
owing to higher penetration of products and comparatively higher usage
rate for disease monitoring and diagnosis.
- North
America dominated the market in 2015, with over 43% of total revenue.
Presence of major entities with widespread distribution network coupled
with significant number of research endeavors carried out in the U.S is
supportive for the largest share of region. Moreover, point of care
diagnostics is a relatively more advanced segment of in vitro
diagnostics and owing to the presence of high R&D
expenditure, availability of a technologically advanced healthcare
infrastructure along with the presence of a number of ongoing government
funded research projects are factors accounting for the region’s large
share.
- Asia
Pacific is projected to witness lucrative growth in the coming years owing
to the developments carried out in developing economies herein in order to
develop the healthcare infrastructure and reduce the incidence of target
diseases.
- Major
participants of this market include Roche, Abbott Laboratories, Siemens
Healthcare, Danaher Corporation, BioMerieux, Johnson & Johnson, Abaxis
Inc., Alere Inc., Qiagen N.V., Spectral Diagnostics, Instrumentation
Laboratory, Nova Biomedical, Nipro Diagnostics, Trinity Biotech, and
Sekisui.
- Participants
are involved in adopting competitive strategies in order to enhance the
market presence. These companies are also involved in collaborations with
hospitals in order to maintain the market share.
- For
instance, in April 2015, Nipro diagnostics participated in an industry
event named AMCP (Academy of Managed Care Pharmacy) in support of
providing care to the patients with diabetes.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/clinical-diagnostics
Grand View Research has segmented point of care diagnostics
market on the basis of application, end-use, and region:
Global Point of Care Diagnostics Outlook, by Product
(Revenue, USD Million, 2013 - 2024)
- Glucose
Testing
- Hb1Ac
Testing
- Infectious
Disease Testing
- HIV
POC
- Clostridium
difficile POC
- HBV
POC
- Pneumonia
or Streptococcus associated infections
- Respiratory
syncytial virus (RSV) POC
- HPV
POC
- Influenza/Flu
POC
- HCV
POC
- MRSA
POC
- TB
and drug-resistant TB POC
- HSV
POC
- Other
Infectious Diseases
- Coagulation
- Fertility
- Cardiac
markers
- Primary
care systems
- Hematology
- Decentralized
Clinical Chemistry
- Feces
- Blood
Gas/Electrolytes
- Ambulatory
Chemistry
- Urinalysis
- Drug
Abuse Testing
Global Point of Care Diagnostics Outlook, by End-use
(Revenue, USD Million, 2013 - 2024)
- Clinics
- Hospitals
- Assisted
Living Healthcare Facilities
- Laboratory
- Others
Point of Care Diagnostics Regional Outlook (Revenue, USD
Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Spain
- France
- Italy
- Asia
Pacific
- China
- Japan
- India
- Singapore
- Korea
- Australia
- Latin
America
- Brazil
- Mexico
- Argentina
- Chile
- MEA
- South
Africa
- Nigeria
- Kenya
- UAE
- Saudi
Arabia
- Qatar
- Zimbabwe
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-point-of-care-diagnostics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more Info: www.grandviewresearch.com
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