Point of Care (POC) testing is medical diagnostic testing performed in close proximity to where the patient is receiving care. It is typically performed by non-laboratory personnel and the results are used for clinical decision making. The factors such as rising prevalence of diseases resulting in subsequent increase in demand for better treatment and rapid diagnostic services, and staff shortages in clinical laboratories are primarily driving the demand for POC diagnostics. Moreover, increasing incidence of target conditions, growing government support, and rising preference for home healthcare across the globe are driving the growth of the market. However, product recalls, a lack of alignment with test results obtained from laboratories, stringent & time-consuming approval policies and a reluctance to change existing diagnostic practices are expected to restrain market growth.
Global Point of Care Diagnostics Market: Key Players
The research study includes profiles of leading companies operating in the global point of care diagnostics market. Key players profiled in the report include: Abbott, Roche, Siemens, Danaher, Becton, Dickinson and Company, Johnson & Johnson, Instrumentation Laboratory, PTS Diagnostics, Quidel, and Chembio Diagnostic Systems. Several companies are using several strategies such as mergers and acquisitions, product launches, and partnerships which are likely to boost the growth of the market. For instance, in 2019, Roche Diagnostics launched its VENTANA PD-L1 (SP142), which can identify triple-negative breast cancer (TNBC) patients who are eligible for treatment with TECENTRIQ (atezolizumab).
Drivers for the Global Point of Care Diagnostics Market:
The increasing awareness and increasing prevalence of infectious diseases, increased number of diseases, and increasing incidences of healthcare centers are some of the major attributes for the increased demand for the point of care diagnostics market. Moreover, increased awareness regarding the point of care diagnostics in several developed and developing nations is one of the major attributes for the rise in the market.
Opportunities for the Global Point of Care Diagnostics Market:
Some of the factors such as increased need for testing of diseases in diagnostic labs and increased decentralizations of the conversion of the lab tests in the POC tests are some of the major attributes which propels the growth of the market in the estimated forecasts period. In addition, increasing demand for the testing in emerging markets is one of the major attributes which propels the growth of the market in the estimated forecasts period.
Restrains for the Global Point of Care Diagnostics Market:
Some of the factors such as increased regulatory policies and increased costs of the manufacturing of the test kits is one of the major attributes for the growth of the market in the estimated forecasts period. In addition, several factors such as lack of knowledge regarding the use and application of the POC devices also hamper the growth of the market in the estimated forecasts period.
Region Wise, Global Point of Care Diagnostics Market Analysis:
North America anticipated having the largest share in the market. This can be attributed to the due to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives in this region. Furthermore, increasing population living with various infectious diseases; lower regulatory hurdles, and rising accessibility to healthcare services and POC products are some of the factors which boost the growth of the market.
Global Point of Care Diagnostics Market: Product Analysis
- Glucose Monitoring Products
- Cardiometabolic Monitoring Products
- Infectious Disease Testing Products
- Coagulation Monitoring Products
- Pregnancy & Fertility Testing Products
- Tumor/Cancer Marker Testing Products
Global Point of Care Diagnostics Market: Application analysis
- Clinical Laboratories and Outpatient Healthcare Centers
- Hospitals/Critical Care Centers
- Home Care Settings
Global Point of Care Diagnostics Market: Region Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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