The global Point of Care Diagnostics market was valued at US$17.238 billion in 2018 and is expected to grow at a CAGR of 3.02% over the forecast period to reach a total market size of US$20.603 billion by 2024. Point of Care (POC) Diagnostic or Near-Patient Testing is a medical diagnostic test that allows physicians and medical staff to correctly attain real-time, lab-quality diagnostic results within minutes rather than hours. The results of Point of Care diagnostic devices have helped in rapid treatment to the patients; empowering clinicians to make decisions and addressing challenges of health disparities. Its market has been on a steady growth owing to the factors such as the high prevalence of infectious diseases in developing countries, increasing incidences of target diseases, rising preference of home healthcare across the globe, and growing government initiatives supporting the adoption of POC diagnostic products. Moreover, improvement in lab automation techniques coupled with the introduction of cost-effective and high-quality medical solutions and its use by the minimally skilled professionals for diagnostics also serves as the reason to drive the growth in the market.
However, the development of personalized tests linked to a drug has a high risk as the product might not make it to the market because of the restrictions and regulations on various drugs throughout the world. The POC diagnostic devices have helped the disadvantaged and under-served population globally due to its low cost. The investment in research and innovation by the key players is expected to grow the market at a steady pace.
The “Point of Care Diagnostic Market – Forecasts from 2019 to 2024” is an exhaustive study of this niche technology market that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by testing, platform, mode, end-user, and geography.
The point of care diagnostic market has been segmented based on testing, platform, mode, end-user, and geography. Based on testing the market has been segmented into Cardio-Metabolic Monitoring Kits, Infectious Disease Testing Kits, Glucose Monitoring Kits, Coagulation Monitoring Kits, Pregnancy, and Fertility Testing Kits, Tumor/Cancer Markers, Urinalysis Testing Kits, Hematology Testing Kits, and others. By platform, the market has been classified into Lateral Flow Assay, Dipsticks, Microfluidics, Molecular Diagnostics, and Others. By mode, the market is classified as Prescription and OTC. By end-user, the market is classified as Diagnostic Center, Research Laboratories, Homecare Setting, and Others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the point of care diagnostic market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the point of care diagnostic market.