This report studies the global point-of-care diagnostics market over the forecast period of 2016 to 2021. The market is expected to reach USD 36.96 Billion by 2021, at CAGR of 9.8% from 2016 to 2021.
On the basis of product, the global point-of-care diagnostics market is divided into 12 major segments, namely, glucose monitoring kits, infectious diseases testing kits, cardiometabolic monitoring kits, coagulation monitoring kits, hematology testing kits, urinalysis testing kits, cholesterol test strips, drugs-of-abuse testing kits, tumor/cancer markers, pregnancy and fertility testing kits, fecal occult testing kits, and other products. Other products segment comprises of multi-assay testing kits and vitamin assay testing kits. The glucose monitoring kits segment is estimated to hold the largest share of the POC diagnostics market in 2016. Increasing number of POC glucose monitoring devices coupled with growing incidences and prevalence of diabetes across the globe are factors driving the growth of this market segment.
Based on mode of prescription, the global point-of-care diagnostics market is segmented as prescription based testing kits and over-the-counter (OTC) testing kits. The OTC testing kits are expected to witness higher growth in the market during the forecast period. The global point-of-care diagnostics market is also divided into four segments by type of end user– professional diagnostics, research laboratories, home care, and other end-users.
Key factors such as prevalence of lifestyle and infectious diseases and the increasing inclination toward home healthcare across the globe are driving the growth of the point–of-care diagnostics market, globally. In addition, private investments and venture funding towards the development of new products along with the growing government support to increase the adoption of POC devices are boosting market growth. On the other hand, the reluctance among patients to change existing treatment practices is one of the key factors hampering the growth of the point-of-care diagnostics market.
As of 2016, North America holds the largest share of the global point-of-care diagnostics market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 14.2% from 2016 to 2021. A number of factors such as growing initiatives by market players for expanding their distribution network, increasing patient population base, and rising number of partnerships and joint ventures among POC providers are propelling the growth of the Asia-Pacific point-of-care diagnostics market.
Abbott Laboratories, Inc. (U.S.), Roche Diagnostics Limited (Switzerland), Siemens AG (Germany), Beckman Coulter, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), Alere Inc. (U.S.), Instrumentation Laboratory (U.S.), PTS Diagnostics (U.S.), and Nova Biomedical (U.S.) are some of the key players operating in the point-of-care diagnostics market.
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