Global Point Of Care Diagnostics Market Set for Rapid Growth to Reach around USD 40.50 Billion by 2022
Zion Market Research has published a new report titled “Point Of Care Diagnostics Market by Products, by Prescription Mode (Prescription-Based Testing Kits and Over-The-Counter Testing Kits) Market for Hospitals, Clinics and Ambulatory Care Settings: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, the global point of care diagnostics market was valued at approximately USD 23.50 billion in 2016 and is expected to reach approximately USD 40.50 billion by 2022, growing at a CAGR of around 10.00% between 2017 and 2022.
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The North America regional market is by far the largest in the global point of care diagnostics market, and is set to continue its dominance across the globe. North America accounted for over 40% share of total revenue generated in 2016. This growth can be attributed to presence of high disease prevalence levels and favorable government regulations. Furthermore, increasing awareness levels amongst the patients as well as the physicians pertaining to early disease diagnosis is expected to have positive impact on point of care diagnostics market.
In terms of revenue, North America was followed by Europe in 2016. The Europe point of care diagnostics market is expected to witness substantial growth in the years to come. The major driving force for point of care diagnostics market is rapid growth in aged population coupled with increasing prevalence of diseases. Moreover, the adoption of new technological innovations and advancements is expected to witness significant growth over the forecast period.
Asia Pacific is expected to fastest growing market in near future. The growth is mainly due to the rising aging population, increasing international research collaborations, increasing R&D expenditure, and growth in the overall healthcare industry. Moreover, point of care diagnostics market has huge opportunity in the emerging markets of Asia Pacific due to the increasing population coupled with the rising health awareness among people especially in China and India.
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Middle East & Africa regional market is expected to witness significant growth in the near future. Increasing demand from Middle East and African countries such as Saudi Arabia and the UAE are expected to boost the demand for point of care testing over the years to come. Latin America is another important regional market and is expected to experience significant growth over the forecast period. Increasing prevalence of chronic diseases in this region is the major driver supporting the growth of Latin America PoC diagnostics market.
Some of the major industry participants in point of care diagnostics market includes Roche Diagnostics, Alere Inc ., Danaher Corporation, Abbott Laboratories, Johnson and Johnson, Instrumentation Laboratory, Trinity Biotech PLC, OraSure Technologies Inc, bioMerieux, Qiagen N.V. and Siemens Healthcare. Key players have been focusing on innovation and new product development to retain their market share. This kind of competitive position provides new growth opportunities for market.
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This report segments the global point of care diagnostics market as follows:
Point Of Care Diagnostics Market: Product Segment Analysis
- Glucose Monitoring Kits
- Cardio metabolic Monitoring Kits
- HbA1c Testing Kits
- Lipids Testing
- Cardiac Markers
- Blood Gas/Electrolytes Testing Kits
- Infectious Diseases Testing Kits
- Influenza Testing Kits
- HIV Testing Kits
- Hepatitis C Testing Kits
- Sexually-transmitted Diseases (STDs) Testing Kits
- Tropical Diseases Testing Kits
- Healthcare-associated Infections (HAIs)
- Respiratory Infections Testing Kits
- Coagulation Monitoring Kits
- Prothrombin Time (PT/INR) Testing Kits
- Activated Clotting Time (ACT/APTT) Testing Kits
- Pregnancy and Fertility Testing Kits
- Pregnancy Testing Kits
- Fertility Testing Kits
- Tumor/Cancer Markers
- Urinalysis Testing Kits
- Cholesterol Test Strips
- Hematology Testing Kits
- Drugs of Abuse Testing Kits
- Fecal Occult Testing Kits
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Point Of Care Diagnostics Market: Prescription Mode Segment Analysis
- Prescription-based Testing Kits
- Over-the-counter (OTC) Testing Kits
Point Of Care Diagnostics Market: End User Segment Analysis
- Ambulatory Care Settings
Point Of Care Diagnostics Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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