Point of care (POC) diagnostics market size, industry trends, regional outlook, company share and segment forecasts, 2014 to 2020

Point of Care (POC) diagnostics are tests that are designed to be used near the patient site which do not require a dedicated permanent area and are conducted outside clinical spaces. The major drivers of this market include increased aging population, immediate test results and rising market penetration of EMR (Electronic Medical Records) and PACS (Picture Archiving and Communication Systems). Additionally, shortage of skilled staff at the diagnostics facilities is expected to aid POC market penetration and positioning. Out-care patient model which is an initiative taken by the governments to reduce stay in the hospitals along with homecare and other health care facilities are expected to help in promoting POC diagnostics. POC diagnostics have initiated a decentralized trend in the healthcare industry which facilitates patients to be catered at remote locations, get early diagnostics and reduce costs.

Asia Pacific POC diagnostics market, 2012 to 2020 (USD Million)

Increase in the number of diabetes patients who require constant blood sugar level monitoring have led to glucose testing as the largest segment in the POC diagnostics market. Early diagnosis and self diagnosis are prominent drivers for the market. The application areas of POC diagnostics market include homecare, clinics, laboratories, assisted living healthcare facilities and hospitals. The increase in stress level which pertains to rising frequency of chronic diseases that require constant monitoring such as diabetes, homecare and assisted living healthcare is expected to witness substantial growth. North America is the current market leader owing to regulatory standards by CLIA (Clinical Laboratory Improvement Amendments). However, improving infrastructure in developing nations in the Asia Pacific region has been driving the growth rate. The market is driven by advancement in technology and is niche in nature; new and advanced products are being manufactured with continuous efforts in research and development. Manufacturers are considering POC diagnostics as a key area for market growth. Companies such as Beckman Coulter Inc, Abbott Laboratories and Roche Diagnostics are trying to enhance their market share by promoting their products in healthcare establishments.

Grand View Research has recently published a detailed report titled “Point of Care Diagnostics (POC) Market Analysis By Product (Blood Gas/Electrolytes, Infectious Diseases, Hospital Glucose Testing, Cardiac Markers, Hematology, Coagulation, Primary Care Systems, Decentralized Clinical Chemistry, Urinalysis, Drug Abuse Testing, Fertility, OTC and Rapid Diagnostic Tests) And Segment Forecasts To 2020”. This market research report provides complete estimate and forecast for major market segments on the basis of products, end-user and regions. The report also contains detailed industry trends, market dynamics, drivers, restraints and key opportunities. In-depth market analysis such as Porter’s five force model, PESTEL, opportunity prioritization and comprehensive competitive landscape including detailed profiles of top companies are included in the report.