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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.
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.
· Consumables and Software
· Other Solutions
· Blood Glucose Monitoring
· Infectious Diseases
· Blood Gas and Electrolytes
· Anticoagulant Management
· Pregnancy and Fertility
· Substance Abuse
· Cardiac Markers
· Cancer Markers
By End User
· Home Care Settings
· North America (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 Middle East & Africa)
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.
New Product Launch
Regulatory scenario for key countries
Government guidelines for Point of Care Testing
Recent industry developments such as partnerships, mergers, and acquisitions
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.
Key Industry Developments
·In February 2018, Siemens AG received FDA 510(k) approval for Total Carbon Dioxide (TCO2) and Blood Urea Nitrogen (BUN) point of care tests with the aim to aid the diagnosis of metabolic and renal diseases.
·In July 2018, Sight Diagnostics launched point of care testing system for complete blood count test in Europe
·In September 2016, Novartis AG introduced Niji(TM) System, a point of care system to facilitate early diagnosis and treatment intervention for severe allergic asthma.
·In August 2016, Abbott launched Alinit, next-generation systems with features across clinical chemistry, immunoassay, point of care, blood and plasma screening, hematology, and molecular diagnostics.
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