Global Point-of-Care (POC) Diagnostics Market by Product, Prescription Mode, End-user & Region - Forecast to 2025

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Nov 28, 2019, 06:00 ET

DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Point-of-Care Diagnostics Market By Products, Prescription Mode, End-users, and Regions: Global Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.

This report predicts that the global point-of-care diagnostics market will grow at a CAGR of 7.3% during the forecast period 2019-2025.

The market has witnessed steady growth in the past few years, and the advancements in technology with the launch of innovative products have increased the adoption of point-of-care diagnostics products. The market is fueled by the increasing prevalence of infectious diseases, upsurge in the incidence of lifestyle diseases, increasing geriatric population, and rising adoption of the technology in emerging countries.

The market continues to grow as point-of-care diagnostics is one of the most widely used techniques for screening, diagnosis, and making a treatment decision. Key market players are focusing on product approvals, new launches, and targeting end-user's perspective. The market generates significant revenue from the key players operating in this field, and few of them include Abbott Laboratories, F. Hoffmann-La Roche, Johnson & Johnson, Danaher Corporation, and Siemens Healthineers Inc. (Siemens AG).

According to the analysis, North America accounted for the largest share of the global point-of-care diagnostics market in 2018, and Asia Pacific is expected to grow at a high CAGR during the forecast period. According to a report released by the Centers for Disease Control and Prevention (CDC), in the US alone, more than 100 million adults are now living with diabetes or prediabetes. According to an estimation, in the US, approximately 1,688,780 new cancer cases were diagnosed and 600,920 cancer deaths were reported in 2017.

Canada had an estimated 206,200 new cases of cancer and 80,800 deaths from cancer in 2017. Cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the US, and on an average, one person dies from CVD every 40 seconds in the US. Coronary heart disease accounts for the majority of CVD deaths followed by stroke and heart failure.

The presence of dominant players in the region, promising reimbursement facilities, availability of hi-tech medical technologies, and growing patient base for lifestyle diseases make North America the dominant shareholder in the market.

By Products

Infectious Disease Testing (influenza testing, HIV testing, hepatitis testing, tuberculosis testing, sexually transmitted diseases testing, healthcare-associated infections testing, respiratory infections testing, others)
Glucose Monitoring
Hematology Testing
Pregnancy and Fertility Testing
Urinalysis Testing
Cardiometabolic Monitoring
Tumors or Cancer Marker Testing
Coagulation Monitoring
Cholesterol Testing
Drugs of Abuse Testing
Others

Glucose monitoring kits, in terms of point-of-care diagnostics products, held a significant market share in 2018, owing to an increase in the prevalence of diabetes, change in lifestyle, growing elderly population, and increasing demand for disease management. The infectious disease testing segment is expected to grow at a high CAGR during the forecast period 2019-2025.

By Prescription Mode

Prescription-based Point-of-Care Diagnostics
Over-the-Counter-based Point-of-Care Diagnostics

The prescription-based diagnostic tests occupied the largest share in 2018 with mid-single-digit CAGR, and over-the-counter-based point-of-care diagnostics is estimated to grow at the highest CAGR during the forecast period.

By End-users

Hospitals
Clinics/Physician Office Laboratory
Home Care
Ambulatory Care
Others

Growing preference for home or remote monitoring, introduction of portable point-of-care products, and increasing demand for rapid tests among home care users make home care the fastest-growing segment during the forecast period 2019-2025.

By Regions

North America
Europe
Asia Pacific
Rest of the World

Based on geography, North America dominated the market in 2018 with a share of over 40% and is expected to maintain this position during the forecast period. Asia Pacific is projected to grow at a high CAGR during the forecast period. The increasing incidence of chronic and lifestyle diseases, booming economy, and increasing health awareness among patients make North America the fastest-growing region during the forecast period.

Competitive Analysis

A lot of new players are concentrating on this market to deliver advanced and innovative products. The increasing adoption of point-of-care diagnostics has resulted in increased approvals, new launches, strategic collaborations, acquisitions, and increased funding.

For instance, in February 2019, HemoCue received the FDA approval for its HemoCue Hb 801 System that quantitatively measures hemoglobin in capillary or venous whole blood.
In June 2019, Abbott launched its Afinion HbA1c Dx assay available for use on the Afinion 2 Analyzer, as well as the Afinion AS100 Analyzer. Afinion HbA1c Dx assay is the first rapid point-of-care test approved by the FDA to aid healthcare professionals in the diagnosis of diabetes.
In March 2019, Group K Diagnostics partnered with the US Centers for Disease Control and Prevention to design and evaluate a prototype reverse transcriptase loop-mediated isothermal amplification assay to detect Zika virus RNA at POC.

Key Vendors

Abbott Laboratories
F. Hoffmann-La Roche Ltd.
Johnson & Johnson
Danaher Corporation
Siemens Healthineers Inc. (Siemens AG)
Trinity Biotech plc
Qiagen N.V.
OraSure Technologies Inc.
Instrumentation Laboratory (IL)
Becton Dickinson and Company
Nova Biomedical

Key Competitive Facts

The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
The market is moving strongly toward smart devices that are equipped with mobile healthcare (mH). This smart healthcare option is expected to revolutionize personalized healthcare monitoring and management, thus leading the way for next-generation point-of-care testing.

Key Takeaways

Understanding the potential market opportunity with precise market size and forecast data.
Detailed market analysis focusing on the growth of point-of-care diagnostics industry.
Factors influencing the growth of the point-of-care diagnostics market.
In-depth competitive analysis of dominant and pure-play vendors.
Prediction analysis of the point-of-care diagnostics industry in both developed and developing regions.
Key insights related to major segments of the point-of-care diagnostics market.
Latest market trend analysis impacting the buying behavior of the consumers.

For more information about this report visit https://www.researchandmarkets.com/r/faoprx

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