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(Medical-NewsWire.com, May 14, 2018 ) Point of care testing is a medical tool, designed to perform outside the physical facilities such as clinical laboratories. These tests are primarily used to diagnose various chronic disease conditions such as diabetes, cardiovascular disorders, infectious diseases and others.
Market Dynamics
Point of care diagnostics market is primarily driven by the rising demand for home healthcare coupled with continuous aging population across the world. World Health Organization (WHO) has projected that aging population, over 60 years, will be doubled, from 12% (2015) to 22% (2050) . Similarly, According to the Population Reference Bureau (PRB) , geriatric population (over 65 years) is projected to double in America by the next few years. Considering these facts, several initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models which will surge in demand for POC diagnostics, augmenting the market growth.
Additionally, favorable regulatory initiatives, aimed at promoting a point of care diagnosis is anticipated to serve the industry as a high impact rendering driver. For example, the U.S. government (U.S. FDA) introduced CLIA (clinical laboratory improvement amendments) in partnership with the Centres for Medicare & Medicaid Services (CMS) and the Centre for Disease Control (CDC) . This regulation aims to conduct laboratory inspection and enforce regulatory compliances in order to assure quality laboratory testing, expected to boost usage rates of POC during the forecast period. Furthermore, increasing funding, from organizations such as National Institute of Biomedical Imaging and Bioengineering, the U.S. Department of Defence (DOD) , and the Bill and Melinda Gates Foundation, for the development of point of care diagnostics support the industry growth to great extent. Introduction of mobile applications such as cobas infinity point-of-care (Roche Diagnostics) , growing demand for point of care diagnostics, and rising investment by companies is expected to spur the growth in the coming years. However, the regulatory framework for approval process has been the most critical restraining factor for the industry growth.
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Products Takeaway
In terms of products, the market is categorized as Glucose Testing, Hb1Ac Testing, Coagulation, Urinalysis, Fertility, Cardiac Markers, Infectious Diseases, Hematology, Decentralized Clinical Chemistry, Ambulatory Chemistry, Drug Abuse Testing, and others. Among which, glucose testing and Hb1Ac testing accounted for the largest share of the global market. Collectively, these segments achieved around USD 9.5 billion in 2017 and are anticipated to dominate the industry. However, cardiac markers segment is projected to grow with the highest growth rate over the forecast period.
Disease Condition Takeaway
Based on disease conditions, the market is broadly categorized into Human Immunodeficiency Virus (HIV) , Respiratory Syncytial, Human papillomavirus (HPV) , Clostridium difficile, Hepatitis B, Pneumonia, Influenza, Hepatitis C, Tuberculosis, and others. Use of molecular diagnostics for the treatment of HIV is rapidly increasing, accounting for the largest market. According to Canada’s Source for HIV and Hepatitis C information, the point of care diagnosis is a rapid testing technique for HIV patients that provides testing results in short time span, usually in an hour. In terms of end users, the market is distributed as Hospitals, Home, Laboratory Settings, and Others.
Regional Takeaway
Regionally the market is classified in North America, Europe, Asia Pacific and Rest of the world. Increasing population base with cardio metabolic disorders and diabetes is expected to stimulate the market growth in North America and Europe. According to the Centers for Disease Control and Prevention (CDC) , over 31% of population in the U.S. was suffering from bad cholesterol or LDL in 2012. On other side, large patient base coupled with the growing demand for in-vitro diagnostics in developing regions such as India and China provides a healthy platform for the POC growth in developing regions.
Asia Pacific Point of care diagnostics market by Country, 2017 vs 2025
Key Vendor Takeaway
Companies such as Danaher Corporation, Roche Diagnostics, Alere Inc., bioMerieux, Abbott Laboratories, and Siemens Healthcare are profiled in the report. Strategic merger and acquisitions and the introduction of new products helped companies to capture significant revenue share. For example, Alere, Inc., one of the leader in rapid point of care diagnosis testing, hold strong distribution channel across the world in order to supply its products to laboratories, physicians’ clinics, and hospitals. This company also operates via third-party distributors for selling its products. Key distributor partners of the company include Henry Schein Medical, McKesson, NDC, Cardinal Health, Medline, Merck, Menearini Diagnostics, and Orion Diagnostica Oy.
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The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.
The years considered for the study are:
Historical Year – 2014 & 2015
Base Year – 2015
Estimated Year – 2016
Projected Year – 2025
– TARGET AUDIENCE
Traders, Distributors, And Suppliers
Manufacturers
Hospitals
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
– MARKET, BY PRODUCT
Glucose Testing
Hb1Ac Testing
Coagulation
Urinalysis
Fertility
Cardiac Markers
Infectious Diseases
Hematology
Decentralized Clinical Chemistry
Ambulatory Chemistry
Drug Abuse Testing
Others
– MARKET, BY DISEASE CONDITION
Human Immunodeficiency Virus (HIV)
Respiratory Syncytial
Human papillomavirus (HPV)
Clostridium difficile
Hepatitis B
Pneumonia
Influenza
Hepatitis C
Tuberculosis
Others
– MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
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Source: EmailWire.Com 
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