Point of Care Testing Market Size, Share and Global Trend By Product (Instruments, Accessories, Consumables and Software, Other Solutions), By Application (Blood Glucose Monitoring, Infectious Diseases, Blood Gas and Electrolytes, Anticoagulant Management, Pregnancy and Fertility, Substance Abuse), By End User (Hospital, Laboratories, Home Care Settings, Clinics), and Geography Forecast Till 2030

Point of care testing (POCT) is mainly medical testing near or at the site of patient care by trained healthcare professionals. Point of care testing is the test which is performed at the bedside and typically involves blood and urine testing. The main aim of the point of care testing is to collect the specimen and obtain accurate results in a very short period. The advantages of point of care testing, such as improved patient outcomes, fast results, early detection, and treatment are the primary reasons for the rising uptake of point of care testing kits. Furthermore, the frequent episodes of disease outbreak and increased government initiatives to improve the key health indicators have boosted the demand for point of care testing. In April 2017, Diagnostics Direct, LLC, one of the leaders in-office diagnostic tests, received FDA approval for rapid syphilis test named Syphilis Health Check, which is likely to accelerate the global point of care testing market.

 Frequent episodes of disease outbreak, technological advancements, the new home-based point of care devices are the primary reasons responsible for the growth in the global point of care testing market. Factors such as increasing awareness among the population, ease of use, rapid test, accurate diagnostics and treatment, and enhanced patient compliance are some of the factors driving the growth of the global point of care testing market.

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However, poor quality of analysis resulting in product recalls and resistance to change the traditional methods are the major factor that can hinder the growth in point of care testing market. In 2018, Abbott recalled its product named i-STAT CG8+ Cartridges as there were chances of inaccurate results generation, which is expected to negatively impact the global point of care testing market.

KEY PLAYERS COVERED  

Some of the major companies that are present in the global point of care testing market are ARKRAY, Inc., Abaxis, Abbott, Alfa Scientific Designs, Inc., Ascencia Diabetes Care Holdings AG, Beckman Coulter, BD, bioMérieux SA, Chembio Diagnostic Systems, Inc., F. Hoffmann-La Roche Ltd., LamdaGen Corporation and players.

SEGMENTATION

Based on application, the blood glucose monitoring segment is anticipated to dominate the global point of care testing market during the forecast period. This can be attributable to the increasing prevalence of diabetes, comparatively less training required for conducting the test, and quick results.

KEY INSIGHTS

Pipeline Analysis

Pricing Analysis

New Product Launch

Regulatory scenario for key countries

Government guidelines for Point of Care Testing

Recent industry developments such as partnerships, mergers, and acquisitions

REGIONAL ANALYSIS

North America followed by Europe, are the two largest markets for point of care testing at present, and they are expected to continue to dominate the market throughout the forecast period. North America accounted for the largest share in the global market in 2018, owing to the rapid adoption of point of care testing kits by healthcare professionals, increasing prevalence of the diseases and favorable government regulations and initiatives. Asia Pacific is expected to register comparative higher CAGR during 2018-2025 due to increasing demand, an increase in a number of product approvals, and increased focus of the healthcare industry towards this region.