Global POCT Market to Surpass USD 9 Billion by 2019

Modernization in developing nations and the expanding scope of tests are important elements driving the point-of-care testing (POCT) market.

The POCT market analysis describes the global market, which reached USD 5.32 billion in 2012, and estimates this to reach USD 9.02 billion in 2019 at a compound annual growth rate of 7.9 %. In addition to quick turnaround times and its importance in preventive healthcare, the uptake of POCT is supported by its capability to easily integrate with emerging healthcare information technology (IT).

A report published by Frost & Sullivan Life Sciences (Mountain View, CA, USA), the Growth Partnership Company, provides insight into the future of POCT and outlines strategies for success of market participants The report provides the latest information on opportunities and unmet needs according to region. It identifies in the vitro diagnostics (IVD) companies likely emerge in each POCT segment.

Market participants are strengthening their R&D focus for the development of sensitive biosensors, cheaper optical systems, and noninvasive systems to integrate into POCT instruments. Microfluidic systems based on the lab-on-chip concept, along with increased biomarker discoveries should cause a considerable shift in the clinical diagnostic industry.

Included in the Frost and Sullivan report is a comprehensive, global analysis of POC tests for blood glucose, HbA1C, cholesterol, blood gas and electrolytes, drugs of abuse, infectious diseases, pregnancy, hematology, and urinalysis. The study also discusses market drivers such as industry and market restraints.

The POCT market is affected by the increasing incidence and prevalence of lifestyle diseases such as diabetes. POC HbA1C tests are routinely performed for type 1 and 2 diabetes patients. In most European countries, these tests are included as part of a routine in a comprehensive screening program to monitor blood sugar levels. A competitive and market share analysis for the total POCT market and each product segment within the United States, Europe, Asia, and Australia is also included in the analysis.

"The slowly but steadily growing trend towards automation in emerging countries is likely to provide future opportunities for market growth as laboratories and hospitals focus on modernization," said Frost & Sullivan Healthcare senior research analyst Srinivas Sashidhar. "The market will also be propelled by the higher number of new products and increased patient awareness of diagnostics."

"POC test manufacturers may also look to partner with IT vendors to facilitate enhanced POCT data management," added Sashidhar. "This will facilitate automated systems for discrete, time-bound, or continuous monitoring. It requires no supervision and will automatically cater to critical patients and notify the relevant medical caregiver."

Related Links:
Frost & Sullivan Life Sciences