The global Point of Care (PoC) diagnostics/testing market size was estimated at USD 16.7 billion in 2016. The ability of POC diagnostic tests to render immediate results thus providing improved patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) have accelerated the remarkable success of POC devices. Along with densely populated regions, POC technology has also improved the patient reach for diagnostic services in the remote and rural areas. This factor has significantly impacted the market growth.
Skilled staff shortages especially pertaining to the field of diagnostics is also expected to accelerate the market penetration rates of point of care diagnostic products, by expediting lab automation processes. Both medical and nonmedical personnel with minimum training can use these devices.
Introduction of favorable regulatory initiatives aimed at promoting Point of Care diagnostics over other forms is expected to serve as high driving force for the market. For instance, the introduction of Clinical Laboratory Improvement Amendments (CLIA) for certain point of care diagnostic tests and products can also be attributed high adoption of POC devices.
Furthermore, increase in funding by multiple sources, including the U.S. Department of Defense (DOD), NIH, and private foundations like the Bill & Melinda Gates Foundation, is expected to drive the POCT market. Such institutions are involved in funding various projects for development of POC diagnostics to different organizations including California Institute of Technology, Dartmouth College, Seventh Sense Biosystems, and other institutions.
For instance, in January 2016, a review article titled as “CD-Based Microfluidics for Primary Care in Extreme Point-of-Care Settings” was published in Micromachines journal. The article illustrated the potential of centrifugal microfluidic technologies in enhancing primary care in resource-limited settings across the globe. Such development in the space is expected to majorly impact the POC testing market progress throughout the forecast period.
In addition, the growing prevalence of target diseases such as cancer, diabetes, cardiovascular diseases and infectious diseases is expected to serve this market as one of the high impact rendering drivers over the forecast years.
Although POC diagnostic procedures prove to be very effective, they are costly for healthcare facilities dealing with high test volumes. This, in turn, is expected to impede the market growth in some cost-sensitive undeveloped economies.
Blood glucose testing POC meters captured the largest share in 2016 due to the notable commercial success of hand-held glucose meters on account of their high adoption rate. The fact that periodic monitoring of glucose level is of paramount importance for diabetic patients, has spurred the adoption of POC in this segment. This can be owed to the advantages associated with hand-held glucose meters such as portability and easy-to-operate.
As per the Diabetes Control and Complications Trial, regular use of blood glucose monitors to assess glucose levels is observed to result in lesser disease complications. Furthermore, POC glucose monitors assist doctors in deciding suitable treatment patterns for diabetic patients. These factors are supportive of the large share of this segment.
Growing prevalence of diabetes across the world is expected to boost the segment growth in the future. However, as this segment is relatively more saturated in terms of market penetration when compared to the other counterpart segments, this segment is not likely to witness any sudden growth spurts over the forecast period.
POC for cancer marker testing is expected to grow with the lucrative pace throughout the forecast period. This anticipated growth is certainly due to the fact that POC devices enable early cancer detection through capturing and analyzing Circulating Tumor Cells (CTCs), thereby improving cancer survival rate.
Moreover, introduction of POC home-testing cancer kits is expected to aid in revenue generation by enhancing the adoption rate in this segment within various healthcare settings. For instance, in August 2014, Cologuard, manufactured by Exact Sciences Corp, received FDA approval for colorectal cancer screening. This product was designed to be used in home settings and small clinics without any need of an invasive colonoscopy.
Clinics held the largest market share with respect to revenue generation in 2016 as a substantial number of CLIA-waived tests are available in the in the space that can be effectively implemented within clinics. Moreover, decentralization of primary care services in several regional markets around the world has become a common trend. This factor is expected to significantly impact the future progress of this segment.
Moreover, availability of several easy-to-use POC devices that can be used in out-of-hospital laboratory settings has resulted in the significant share of this segment. Furthermore, government bodies, such as NHS, are undertaking POCT-based initiatives and schemes to reduce the pressures on frontline care.
These initiatives, in turn, have fomented the primary care settings, such as clinic, to adopt POCT services for diagnosis of various diseases. However, home healthcare is expected to emerge as the fast-growing segment. Growing concern for early disease detection and to avoid the occurrence of any chronic condition is expected to drive the segment growth in the coming years.
North America accounted for the major market share in 2016 due to the growing geriatric population base coupled with the presence of higher healthcare expenditure levels. Moreover, presence of high awareness levels amongst the patients as well as the physicians pertaining to early disease diagnosis is supportive for the largest share of region in the industrial revenue.
Asia Pacific regional market is expected to grow to fastest CAGR throughout the forecast period. This can be attributed to the fact that companies are engaged in capitalizing the untapped potential in the region to enhance their market position. Moreover, growing awareness amongst the Asian population about the rapid disease detection to improve the patient survival rate is expected to spur the POC products in Asian countries.
Some of the prominent players operating in the space include F. Hoffmann-La Roche Ltd; Abbott/Alere; bioMérieux SA; Abaxis; Siemens Healthineers; QIAGEN; Danaher; Instrumentation Laboratory; Nova Biomedical; Trividia Health, Inc.; Quidel Corporation; Trinity Biotech; Sekisui Diagnostics LLC; OraSure Technologies Inc; Johnson & Johnson Services, Inc, and Becton Dickinson & Company (BD).
These participants are engaged in undertaking various endeavors to stay competitive in the market and to meet the growing demand for POC within various healthcare settings. For instance, in December 2016, LifeScan, Inc., a unit of Johnson & Johnson Diabetes Care, received approval from FDA for the integration of its OneTouch Verio Flex blood glucose monitoring system with WellDoc’s BlueStar Diabetes Management Platform.
This integration, aimed at creating a digital health solution for management of type 2 diabetes, is expected to enhance the company’s presence in the Point of Care diabetes care market. Similarly, in October 2017, Abbott completed acquisition of Alere. With this acquisition, Abbott is expected to witness significant growth in its POC business.
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global point of care diagnostics/testing market report on the basis of product, end-use, and region:
Product Outlook (Revenue, USD Million, 2013 - 2024)
Infectious Disease Testing
Clostridium difficile POC
Pneumonia or Streptococcus associated infections
Respiratory syncytial virus (RSV) POC
TB and drug-resistant TB POC
Other Infectious Diseases
Primary care systems
Decentralized Clinical Chemistry
Drug Abuse Testing
End-use Outlook(Revenue, USD Million, 2013 - 2024)
Assisted Living Healthcare Facilities
Regional Outlook (Revenue, USD Million, 2013 - 2024)
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