Point of Care Diagnostics (POC)Market Size, Growth And Segments To 2020 By Hexa Research
The increasing market penetration of picture archiving and communication systems (PACS) and electronic medical record (EMR) and the efficiency of point of care diagnostics to provide immediate results are the major factors driving the global point of care diagnostics market. In point of care (POC) diagnosis, the tests are conducted near the site of the patient care. The increasing geriatric population globally is also a factor propelling the point of care (POC) diagnostics market. Moreover, increasing usage of home based point of care devices, increasing government support, expansion of therapeutic horizon and rapidly increasing investments by various healthcare institutes to support new product developments are also the factors driving the point of care diagnostics market. There is a shortage of skilled staff, especially in the field of diagnostics. Various government initiatives to innovate out patient care models and to minimize hospital stays and rapidly increasing demand for home healthcare globally are the factors expected to further fuel the point of care diagnostics market over the forecast period.
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The global point of care diagnostics market on the basis of product is segmented into urinalysis, fertility and feces, drug abuse testing, decentralized clinical chemistry, primary care systems (lipid and Hba1C), coagulation, hematology, cardiac markers, dedicated professional hospital glues testing, infectious diseases and blood gas/ electrolytes. The hospital glucose testing segment attributes the largest share in the market. The increasing incidences of diabetes and the necessity of constant detection of sugar levels in the blood are the key factors driving the point of care hospital glucose testing market. According to International Diabetes Federation (IDF), the prevalence of diabetes globally will be doubled till 2035. However, the rapid diagnostics market and OTC is expected to show lucrative growth over next six years owing to the growing demand for early disease diagnosis and self diagnosis to initiate instant and on-time treatment of chronic diseases. The end users of point of care diagnostic products include clinics, home, laboratories, assisted living healthcare facilities and hospitals.
The point of care diagnostics market on the basis of regions is segmented into North America, Europe, Asia Pacific and RoW. North America attributes the largest share of the overall market. The refusal of Clinical Laboratory Improvement Amendments (CLIA) for specific point of care diagnostic products and tests is the major factor driving the North American point of care diagnostics market. However, Asia Pacific is expected to show the fastest growth in the market owing to the rapidly enhancing healthcare infrastructure and new emerging countries such as China and India in this region.
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About Hexa Research:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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