The point of care diagnostic market is expected to reach $27.5 billion by 2018 at a CAGR of 9.3% from 2013 to 2018, according to a new report by MarketsandMarkets. The global Point-Of-Care Diagnostics market is broadly categorized into:
- infectious diseases testing kits
- glucose monitoring kits
- coagulation monitoring kits
- urinalysis testing kits
- hematology testing kits
- cholesterol test strips
- drugs of abuse testing kits
- cardiac markers
- blood gas/electrolytes testing kits
- tumor/cancer markers
- pregnancy/fertility testing kits, fecal occult testing kits, food pathogens testing kits
Key findings include:
- The glucose monitoring kits segment accounted for the largest share of the market in 2013, while cardiac markers segment is expected to grow at the highest CAGR in the forecast period.
- The rising prevalence of lifestyle and infectious diseases, increasing usage of home-based POC devices, technological advancements, and decreasing number of technicians in the central labs are driving the growth of the market.
- growing government support, expansion of therapeutic horizon, and increasing private investments and venture funding to support new product developments are further stimulating the growth of the point-of-care diagnostics market
- factors such as lack of alignment with definitive central lab methods, reluctance to change existing treatment practices, and recalls of leading glucose monitoring devices are restraining the growth of the market.
- North America held the largest share in the global market, followed by Asia-Pacific, Europe, and the RoW (Rest of the World).
- The Asia-Pacific region (comprising Japan, China, India, and the Rest of Asia-Pacific) is estimated to grow at the highest CAGR in the forecast period.
- Factors such as the huge patient population base, large number of R&D activities, growing focus of both international and domestic players on the Asia-Pacific POC diagnostics market, and increasing funding/investment towards the development of Point-Of-Care Diagnostics products are driving the growth of the POC diagnostics market in the Asia-Pacific region.
- The key players in this market are Roche Diagnostics Ltd. (Switzerland), Alere Inc. (U.S.), Siemens AG (Germany), and Beckman Coulter, Inc. (U.S.). Whereas, the key players in the global blood glucose monitoring kits market are Roche Diagnostics Limited (Switzerland), Johnson & Johnson (U.S.), Bayer AG (Germany), and Abbott Laboratories (U.S.).
For more information, visit http://www.marketsandmarkets.com/Market-Reports/ivd-in-vitro-diagnostics-market-703.html
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