Market Research Report
Global Point of Care Testing Market (By Diagnostics Segment, Mode, End Users, Regions), 100 Company Profiles - Forecast to 2025
|Published by||iGate Research Pvt Ltd||Product code||918185|
|Published||Content info||218 Pages
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|Global Point of Care Testing Market (By Diagnostics Segment, Mode, End Users, Regions), 100 Company Profiles - Forecast to 2025|
|Published: December 9, 2019||Content info: 218 Pages||
The global point of care testing (POCT) market is expected to surpass US$ 37 Billion by 2025. Point of care testing is a medical diagnostic test that allows physicians and medical staff to correctly attain real-time, lab-quality diagnostic results within minutes rather than hours. POC testing appears to be headed for a bigger role in diagnosis and monitoring patient care. Over the years, the increasing introduction of transportable, portable, and handheld instruments has resulted in the migration of POC testing from the hospital environment to a range of medical environments including the workplace, home, disaster care and most recently, convenience clinics. Furthermore, growing awareness about early disease diagnosis and prevention has stimulated the demand of point of care testing for detection of cancer and infectious disease at early stages. Rising incidence of infectious diseases and chronic conditions such as cardiovascular diseases and diabetes in developing countries such as India and China have stimulated demand for point of care testing services. As per the International Diabetes Federation (IDF) Diabetes Atlas, over 415 million people aged between 20-79 years had diabetes in 2015 globally. This number is estimated to reach 642 million by 2040. Hence, growing infectious diseases and chronic conditions will enhance the point of care testing market in the near future.
Based on diagnostics segment, the point of care testing market is dominated by blood glucose testing segment. Increasing prevalence of diabetes in developing as well as developed economies and the rising inclination of patients towards home testing is the major driver that will drive segmental growth over the forecast timeframe. Cardiac marker segment is expected to grow at the highest rate during the forecast period. The growing prevalence of cardiovascular ailments, increasing purchasing power, rise in the geriatric population, associated with high susceptibility to chronic diseases related to cardiac disorders, and economical diagnosis of chronic diseases in rural areas is expected to drive the market for cardiac markers. Blood Coagulation and Clinical Chemistry segment is competing closely with each other to grab maximum share of the pie.
On the basis of mode, the point of care testing market is dominated by OTC-based testing segment. OTC tests do not require dedicated space as clinical laboratory, and even their turn around time is quick. The Prescription based testing segment is expected to grow at the highest rate during the forecast period.
Based on end users, the point of care testing market is segmented into Hospitals, Clinics, Laboratories, Home Care and Assisted Living Healthcare Facilities. Hospitals held majority of the point of care testing market, followed by Clinics. Increase in prevalence of chronic conditions such as cancer and cardiovascular diseases that require proper monitoring and prefer minimally invasive procedures are carried out in hospitals and clinics. The home care segment is expected to grow at the highest CAGR during the forecast period driven by increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.
The point of care testing market, by region, is dominated by North America and is expected to maintain its position throughout the forecast period. This can be attributed to rising prevalence of chronic disorders and infectious diseases, which need portable and rapid diagnosis, increasing number of product approvals, and rising government initiatives to support the adoption of POCT in this region. Europe held second highest share of the point of care testing market. Asia-Pacific point of care testing market is expected to grow at the fastest rate during the forecast period driven by growing geriatric population base, rising prevalence of target diseases, increasing demand for home healthcare and the introduction of new products enabled with advanced technologies.
iGATE RESEARCH report titled "Global Point of Care Testing Market (By Diagnostics Segment, Mode, End Users, Regions), 100 Company Profiles - Forecast to 2025" provides a comprehensive analysis of the Global Point of Care Testing Market.
This 218 Page report with 66 Figures and 10 Tables has been analyzed from 8 View Points:
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.