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Point-Of-Care (Poc) Diagnostics Market Size, Share and Global Trend By Product (Blood Glucose Monitoring, Infectious Diseases, Cardiometabolic Diseases, Pregnancy and Fertility Testing Products, Hematology Testing Products, Others), By End User (Hospitals Bedside, Physician’s Office Lab, Urgent Care & Retail Clinics, Home and Self Testing) and Geography Forecast till 2026

Region : Global | Published Date: Aug, 2019 | Report ID: FBI101072| Status : Published

 

KEY INDUSTRY INSIGHTS

The Global Point-Of-Care (Poc) Diagnostics Market was valued at US$ 17,019.5 Mn in 2018 and is projected to reach US$ 28,379.6 Mn by 2026, exhibiting a CAGR of 6.6% in the forecast period. Existing market players operating in the global point-of-care (POC) diagnostics market are focusing on constant innovation and up-gradation of their product portfolio with new and efficient product offerings. These new product launches lead to better and accurate diagnostics outcomes for the patients.

One of the critical reasons for the growth of the global point-of-care (POC) diagnostics market is the increasing demand for efficient diagnostics at the point of care such as intensive units for the patients, driven by the increasing number of medical procedures and the increasing number of hospitalizations. Rise in awareness regarding point-of-care (POC) diagnostics in both developing and developed nations, and the emergence of new products with advanced technologies and greater accuracies are propelling the growth of the global point-of-care (POC) diagnostics market.

This, coupled with, increasing investments by major players in research and development for new point-of-care (POC) diagnostics, is also boosting the growth of the market globally. The increase in demand in the point-of-care (POC) diagnostics market is also primarily driven by increased demand for diagnostics results in shorter periods than the traditional waiting times, where the testing results take days to come.

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Some of the other factors which are contributing to the growth of the market are the increase in the medical and surgical procedures which require immediate results for critical decisions and the rising technological advancements is also driving the market growth. Abbott’s introduction of Afinion HbA1c Dx test, a point of care (POC) diagnostic test for diabetes and such other developments is expected to drive the growth of the point-of-care (POC) diagnostics market in developed as well as emerging countries, during the forecast period 2019-2026.

Key Market Drivers

Increasing technological advancements, combined with the increasing incidence of acute and chronic diseases such as diabetes is driving the growth of the global market

Blood glucose monitoring is anticipated to account for the highest market share in the global market due to the status of diabetes as one of the most prevalent diseases. The new product launches for the blood glucose monitoring segment are driving the growth of the product segment, and the same is expected to drive the growth of the market during the forecast period. Other factors anticipated to drive the growth of the blood glucose monitoring segment are the constant requirement of regular testing for the treatment and management for the patients of diabetes and the increasing need for efficient testing in homecare settings. In terms of consideration of ease of usage, blood glucose monitoring point-of-care (POC) diagnostics are preferred. These factors are also driving the growth of the blood glucose monitoring segment. The infectious diseases segment is estimated to grow at a faster CAGR during the forecast period. The infectious diseases segment is undergoing growth due to the increase in prevalence of infectious diseases. This is anticipated to fuel the growth of the segment during the forecast period.

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 Market Segmentation

Based on the product, the global point-of-care (POC) diagnostics market segments include blood glucose monitoring, infectious diseases, cardiometabolic diseases, pregnancy and fertility testing products, hematology testing products, and others. The blood glucose monitoring segment dominated the global point-of-care (POC) diagnostics market in 2018. The segment accounted for 61.1% share of the market in 2018. Based on end user, the global market segments include hospitals bedside, physician’s office lab, urgent care & retail clinics, and home and self testing.

Regional Analysis

Increasing Demand for point-of-care (POC) diagnostics for the rapid and accurate diagnostic outcomes expected to result in highest CAGR in Asia Pacific

North America generated a revenue of US$ 6,125.5 Mn in 2018 and is anticipated to account for a dominant share in the global point-of-care (POC) diagnostics market during the forecast period. Growth witnessed in the region is likely to be driven by the increasing demand for technologically advanced point-of-care (POC) diagnostics with increasing accuracy, which result in significantly in rapid point of care decisions. This is especially applicable in instances where there are critical medical cases where the individual requires immediate decisions for the treatment and management of serious disorders. Europe is also anticipated to be a dominant market due to the high adoption of advanced point-of-care (POC) diagnostics. In emerging countries such as India and China, the rise in awareness regarding point-of-care (POC) diagnostics and the increasing demand for accurate diagnostics is fueling growth in the point-of-care (POC) diagnostics market during the forecast period. In countries like China and India, due to the development of the healthcare infrastructure and increasing healthcare expenditure, new products are being launched. In Japan, there is a significant demand for point-of-care (POC) diagnostics due to the demand and availability of advanced point-of-care (POC) Diagnostics and the increasing geriatric population. The market in Middle East & Africa, and Latin America accounted for a comparatively small share of the market in 2018.

North America Point-of-Care (POC) Diagnostics Market Size, 2018

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Key Market Players

F. Hoffmann-La Roche Ltd, and Abbott dominated the global point-of-care (POC) diagnostics market in 2018

F. Hoffmann-La Roche Ltd, emerged as the leading player with the highest market share in 2018, as the company has several technologically advanced and specialized products as per varied indications in its family of point-of-care (POC) diagnostics. This range has several point-of-care (POC) diagnostics according to various settings such as the emergency rooms, homecare, doctor’s offices, and personal use. Also, other market players are launching new products including Abbott, which recently launched the product offering of Afinion HbA1c Dx test. Other players operating in the point-of-care (POC) diagnostics market are Abbott, Johnson & Johnson Services, Inc., Becton, Dickinson and Company (BD), Quidel Corporation, Sekisui Diagnostics, Danaher, Siemens Healthcare GmbH, AccuBioTech Co., Ltd., Chembio Diagnostic Systems, Inc., EKF Diagnostics Holdings plc, Instrumentation Laboratory (A Werfen Company), Nova Biomedical, and PTS Diagnostics.

Report Coverage

The increasing demand for point-of-care (POC) diagnostics in the general population is one of the key factors driving the growth of the global point-of-care (POC) diagnostics market. The increasing R&D initiatives in the point-of-care (POC) diagnostics market and the recent product launches are also positively contributing to the growth of the market. The introduction of new products in the market, along with an increasing number of patients demanding point of care (POC) diagnostics globally is projected to further augment the demand for point-of-Care (POC) diagnostics during the forecast period.

The report provides qualitative and quantitative insights on the point-of-care (POC) diagnostics industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market segments include product, end user, and geography. On the basis of the product, the global point-of-care (POC) diagnostics market segments include blood glucose monitoring, infectious diseases, cardiometabolic diseases, pregnancy and fertility testing products, hematology testing products, and others. Based on the end user, the market is categorized into hospital bedside, physician’s office lab, urgent care & retail clinics, and home and self-testing. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.

Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the overview of the number of point-of-care (POC) diagnostics procedures by key countries, overview of price analysis of types of point-of-care (POC) diagnostics, overview of regulatory scenario by key countries, overview of reimbursement scenario by key countries, pipeline analysis, new product launches and key industry developments - mergers, acquisitions, and partnerships and key growth indicators of point-of-care (POC) diagnostics market. 

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SEGMENTATION

SEGMENTATION

 DETAILS

By Product

· Blood Glucose Monitoring

· Infectious Diseases

· Cardiometabolic Diseases

· Pregnancy and Fertility Testing Products

· Hematology Testing Products

· Others

By End User

· Hospitals Bedside

· Physician’s Office Lab

· Urgent Care & Retail Clinics

· Home and Self Testing

By Geography

· North America (the USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico and Rest of Latin America)

· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Point-of-Care (POC) Diagnostics Market Players

  • Abbott
  • Hoffmann-La Roche Ltd
  • Johnson & Johnson Services, Inc.
  • Becton, Dickinson and Company (BD)
  • Quidel Corporation
  • Sekisui Diagnostics
  • Danaher
  • Siemens Healthcare GmbH
  • AccuBioTech Co., Ltd.
  • Chembio Diagnostic Systems, Inc.
  • EKF Diagnostics Holdings plc
  • Instrumentation Laboratory (A Werfen Company)
  • Nova Biomedical
  • PTS Diagnostics

 Key Industry Developments

  • In June 2019, Abbott announced the launch of Afinion HbA1c Dx test, a point of care (POC) diagnostic for the testing of diabetes
  • In May 2016, Koninklijke Philips N.V. announced the launch of a new handheld blood test called the Minicare I-20 for the rapid point-of-care diagnosis of heart attack

Point-Of-Care Diagnostics Market Size, Share and Global Industry Trend Forecast till 2026
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