The point-of-care diagnostics market projected to grow at a CAGR of 10.0%
LONDON, Feb. 27, 2018 /PRNewswire/ -- The point-of-care diagnostics market projected to grow at a CAGR of 10.0%.
The global point-of-care diagnostics market is projected to reach USD 38.13 billion by 2022 from USD 23.71 billion in 2017, at a CAGR of 10.0%. High prevalence of infectious diseases in developing countries, increasing incidence of target diseases, and increasing inclination toward home healthcare across the globe are the factors expected to drive the market during the study period.
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However, the lack of alignment with definitive central lab methods, certain disadvantages of POC testing over central lab methods, and the reluctance among physicians to change existing diagnostic practices are the key factors that are limiting the growth of this market.
The glucose monitoring products segment is expected to command the largest share of the POC diagnostics market in 2017.
On the basis of product, the glucose monitoring products segment is expected to command the largest share of the global POC diagnostics market in 2017. The large share of this segment can be attributed to the growing incidence and prevalence of diabetes across the globe and rising preference for home glucose testing.
The molecular diagnostics segment is expected to be the fastest-growing segment during the forecast period.
On the basis of platform, the market is segmented into lateral flow assays, dipsticks, microfluidics, molecular diagnostics, and immunoassays. The molecular diagnostics segment is expected to be the fastest-growing segment during the forecast period. Growing advancements in technology and increasing initiatives of market players for developing POC molecular diagnostic products is propelling the demand for molecular diagnostics.
Asia Pacific is expected grow at the highest CAGR during the forecast period.
Geographically, the point-of-care diagnostics market is segmented into North America, Europe, Asia Pacific, and RoW. Asia Pacific is expected to register the highest growth rate during the forecast period due to the growing initiatives by market players, increasing patient population base, and rising number of partnerships and joint ventures in this region.
Breakdown of supply-side primary interviews:
• By Company Type - Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
• By Designation – – C level – 15%, Director level – 30%, Others – 55%
• By Region – North America - 45%, Europe – 20%, APAC – 30%, RoW – 5%
The major players of the point-of-care diagnostics market are Abbott (US), Roche (Switzerland), Siemens (Germany), Danaher (US), Becton, Dickinson, and Company (US), Johnson & Johnson (US), Instrumentation Laboratory (US), PTS Diagnostics (US), Quidel (US), Chembio (US), Sekisui Diagnostics (US), Nova (US), EKF Diagnostics (UK), AccuBioTech (China), and Trinity Biotech (US).
Research Coverage
This report studies the point-of-care diagnostics market based on product, platform, mode, end user, and region. The report also studies factors affecting market growth, it analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micromarkets with respect to their individual growth trends. The report forecasts the revenue of market segments with respect to the four key regions and respective countries.
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis— market ranking analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging segments of the point-of-care diagnostics market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms garner greater market shares.
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