Point of care diagnostics market is valued at $XX million in 2017, and is expected to reach $XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Changing aspects of point of care diagnostics market
Factors responsible for growth of point of care diagnostics market include-
- Increased cases of chronic diseases such as hypertension, diabetes, cancer, etc.
- Quick results and easy testing methods
- Technological advances and rise in the awareness of point of care testing
- Increasing R&D activities for newer products will propelling the global point of care diagnostics market growth.
However, strict regulatory procedures for the product approvals, product recalls, deficiency of reimbursement policies for several home care diagnostics, and lack of awareness about the point of care testing in some regions dampen the point of care diagnostics market.
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Market summary:
Increasing cases of chronic diseases such as hypertension, diabetes and cancer with other infectious diseases are boosting the global point of care diagnostics market. The key strategies adopted by market players are mergers, collaborations, acquisitions and product launches and product approvals which increases the revenue share in the global point of care diagnostics market.
Regional analysis:
In 2016, North America accounted for major share in the point of care due to increased cases of chronic and infectious disease especially in U.S., increase in per capita income and rise in technologies advancements.
Europe point of care diagnostics market is significant growing due to increasing cases of chronic diseases such as cancer and diabetes, lifestyle changes, and rise in awareness about the point of care devices.
However, Asia-Pacific regions such as India and China is propelling the point of care diagnostics market due to increase in diabetic patients, increasing disposable income and increasing R&D activities in Japan.
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Some of the key players in point of the care diagnostics market are
- Siemens AG (Germany)
- Abbott Laboratories, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Becton, Dickinson, and Company (U.S.)
- Mologic Ltd (U.K.)
- Johnson & Johnson Services Inc. (U.S.)
- Sinocare, Inc. (China)
- Roche Diagnostics (U.S.)
- Nova Biomedical (U.S.)
- Instrumentation Laboratory (U.S.)
Notable market development:
BVPro point of care diagnostic from Mologic Ltd. received CE approval in 2017 for detection of bacterial vaginosis.
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The global Point of care diagnostics market is divided into following categories-
By product type
- Infectious Disease Testing Kits
- Cancer/Tumour Markers Testing
- Cardio-Metabolic Monitoring Kits
- Fertility and Pregnancy Testing Kits
- Haematological Testing Kits
- Faecal Occult Testing Kits
- Glucose Monitoring Kits
- Cholesterol Test Strips
- Urinalysis Testing Kits
- Others
By prescription mode
- Over-the-counter (OTC) Testing Kits
- Prescription-based Testing Kits
By end users
- Hospitals
- Diagnostic Centres
- Homecare
- Others
By geographical regions
- North America
- Latin America
- Europe
- Asia-Pacific
- The Middle East & Africa
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