Asia Pacific PoC Diagnostics Market Analysis And Segment Forecasts To 2020

Industry Insights

Point of care (POC) diagnosis refers to conducting diagnostic tests near the site of patient care. The Asia Pacific PoC diagnostics market is driven by four major factors namely growing geriatric population base in countries such as Japan and China, rising prevalence of target diseases, increasing demand for home healthcare and the introduction of new products enabled with advanced technologies. The growing prevalence of target diseases such as cancer, diabetes, cardiovascular diseases and infectious diseases is expected to serve this market as a high impact rendering driver over the next six years. Cardiovascular diseases are one of the most fatal disorders and are the leading cause of death across the globe. The high presence of unmet medical needs pertaining to this disease and the subsequent rise observe in patient awareness levels in this region is expected to boost the demand for point of care diagnoses. Moreover, the prevalence of diabetes in the Asia Pacific region is also on a constant rise, thus generating a wide patient base for the point of care glucose testing market. Moreover, the growing demand for home healthcare as a result of government initiatives and rising patient awareness levels aimed at reducing hospital stays and expenses associated with it. On account of the growing demand for home healthcare, manufacturers such as Roche Diagnostics and Abbott Laboratories have introduced portable products which are user-friendly and therefore can be easily adopted by a patient. Decentralization of healthcare establishments as a cost-effective tool is a major trend observed in the overall point of care diagnostics market. Divisions such as emergency room, operating room, ICU, cath labs and neonatal intensive care units need point of care diagnostic solutions in order to implement rapid and effective patient care. The Asia Pacific PoC diagnostics market was valued at USD 2,426.8 million in 2013 and is expected to grow at a lucrative CAGR of 5.1% during the forecast period.

Product Insights

Key PoC products include blood gas and electrolytes, infectious disease testing, glucose testing, cardiac markers, hematology, coagulation, primary care systems, decentralized clinical chemistry, urinalysis, drug abuse testing, fertility, OTC and rapid diagnostics and feces. The glucose testing market is identified as the largest market segment with a revenue share of over 35.0% in 2013. High prevalence of diabetes coupled with the requirement of constant monitoring of blood sugar levels attributes to the aforementioned fact.

Asia Pacific PoC Diagnostics market revenue share by product, 2012

According to statistics published by the International Diabetes Federation, the global prevalence of diabetes will increase from 382 million in 2013 to 592 million in 2035. Moreover, rising demand for home healthcare catering to the rising prevalence of diabetes will serve this market as a driver. OTC and rapid diagnostic tests followed the glucose testing market in terms of revenue share at a significant rate. Owing to the growing demand for home healthcare based point of care diagnostic procedures in the rural and remote areas of countries such as India, China, Malaysia and Vietnam, the demand for OTC and rapid diagnostic kits is expected to increase over the next six years.

Application Insights

Key application markets covered in this report include hospitals, laboratory, assisted living healthcare facilities, home healthcare, clinics and others. The Asia Pacific PoC diagnostics market was dominated by the clinics segment at a revenue share of ~35% in 2013 owing to its high test volumes.

Regional Insights

Asia-Pacific point of care diagnostics market is identified as the most lucrative market on account of the presence of high unmet medical needs pertaining to target disease segments such as cancer, diabetes, and other infectious diseases, growing patient awareness levels and constantly improving healthcare expenditure. Japan dominated the Asia Pacific market in terms of revenue share in 2013 at 0ver 40%. China followed Japan in terms of revenue share in 2013 at over 25% owing to the presence of high unmet medical needs coupled with constantly improving healthcare infrastructure.

Competitive Insights

Some of the key players of the Asia Pacific PoC diagnostics market include Alere Inc., Siemens Healthcare, Roche Diagnostics, Danaher Corporation, bioMerieux, Abbott Laboratories, and others.