Point of Care (POC) Diagnostics Market to grow substantially till 2020

January 27, 2017

The global point of care diagnostics market is driven by technological improvements and introduction of sophisticated medical solutions. A host of healthcare establishments are gradually taking to point of care tests and diagnostics solutions for greater efficiency. Growing popularity of EMR (electronic medical record) and PACS (picture archiving and communication systems) has a positive impact on market demand.

Other industry drivers are governmental support, surging healthcare investments, growing geriatric population, and widespread adoption of home based POC devices. When medical diagnostics tests are carried out at the place of patient care, it is known as bedside testing or POCT (point-of-care-testing). New product development is a vital factor that may contribute significantly to market growth during the forecast period (2012 to 2020).

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Products, end users, and regions are the parameters based on which the global point of care (POC) diagnostics industry is categorized. As per products, the segments are blood gas/electrolytes, fertility, cardiac markers, OTC & rapid diagnostic tests, infectious diseases, coagulation, drug abuse testing, hospital glucose testing, decentralized clinical chemistry, hematology, and urinalysis. Products also include primary care systems, such as HbA1c tests and lipid profiling. Hospital glucose testing holds the highest market share. Factors that propel this segment are high incidence of diabetes and the growing necessity for glucose analysis on a regular basis.

The OTC & rapid diagnostic tests market may expand robustly over the forecast period because of the “self diagnosis” trend. People nowadays are highly aware of the importance of early disease diagnosis for on-time & instant disease treatment. Based on end users, the global industry is divided into laboratories, hospitals, clinics, assisted living healthcare facilities, homes, and others. Hospitals & clinics generate highest revenues in the overall market. Diagnostic tests are mostly conducted in clinics and in hospitals. As a result, most of these healthcare centers have begun expanding their POC diagnostic facilities.

Geographically, the worldwide Point Of Care Diagnostics Market is categorized into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America is the largest regional industry. High degree of patient awareness, encouraging government initiatives, and substantial investments in medical infrastructure are prominent regional drivers. It is however, expected that Asia Pacific will register the highest growth rate over the forecast period. This attributes to improvements in healthcare infrastructure in emerging countries, such as India and China.

Companies operating in the global Point Of Care Diagnostics Market continuously strive towards capturing higher market shares. They invest robustly in R&D and product innovations. Prominent market competitors are Trinity Biotech PLC, Danaher Corporation, Siemens Healthcare, Roche Diagnostics, and Becton Dickinson and Company.

In September 2016, Novartis launched the NijiTM System and Total IgE Test, a POC diagnostic tool. By using just a droplet or two of finer stick blood, this device delivers Immunoglobulin E (IgE) levels in a matter of twelve minutes. This test caters to immediate in-office diagnosis of allergies associated with IgE levels. The availability of such tests in the offices of healthcare providers leads to reduced time for consultation, diagnosis, prognosis, and disease treatment. This in turn leads to better patient outcomes.

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