PoC Diagnostics Market Worth $36.96 Billion by 2021

The global Point-of-Care (PoC) diagnostics market is estimated to grow at CAGR of 9.8% from 2016 to 2021 to reach USD 36.96 Billion, driven by the rising prevalence of lifestyle and infectious diseases and growing preference for home healthcare across the world.

According to a new MarketsandMarkets (Pune, India) report, the growth in the PoC diagnostics market is receiving a boost from private investments and venture funding for development of new products, as well as increased government support for the rising adoption of PoC devices. However, the impact of pricing pressures due to reimbursement cuts and budget constraints on the profitability of these devices is restraining the market’s growth. One of the key factors hampering the growth of the PoC diagnostics market is the reluctance among patients to change existing treatment practices.

Product-wise, the global PoC diagnostics market is divided into 12 major segments, namely, glucose monitoring kits, infectious diseases testing kits, cardiometabolic monitoring kits, coagulation monitoring kits, hematology testing kits, urinalysis testing kits, cholesterol test strips, drugs-of-abuse testing kits, tumor/cancer markers, pregnancy and fertility testing kits, fecal occult testing kits, and other products.

The other products segment comprises of multi-assay testing kits and vitamin assay testing kits. The glucose monitoring kits segment is likely to hold the largest share of the PoC diagnostics market in 2016, due to the increasing number of PoC glucose monitoring devices, and rising incidences and prevalence of diabetes across the world.

In terms of mode of prescription, the PoC diagnostics market is segmented as prescription-based testing kits and over-the-counter (OTC) testing kits. The OTC testing kits segment is likely grow at a faster pace between 2016 and 2021.

Based on type of end user, the PoC diagnostics market is divided into four segments, namely professional diagnostics, research laboratories, home care, and other end-users.

As of 2016, North America held the largest share of the global PoC diagnostics market, followed by Europe. The Asia-Pacific PoC diagnostics market is expected to grow at the highest CAGR of 14.2% from 2016 to 2021, driven by initiatives by market players for expanding their distribution network, growing patient population base, and rising number of partnerships and joint ventures among POC providers. The emerging markets including China, India, and Brazil hold high growth potential for companies into the development and distribution of PoC diagnostic devices.

Some of the leading players in the PoC diagnostics market are Abbott Laboratories, Inc. (Abbott Park, IL, USA), Roche Diagnostics Limited (Basel, Switzerland), Siemens AG (Erlangen, Germany), Beckman Coulter, Inc. (Fullerton, CA, USA), Becton, Dickinson and Company (BD, Franklin Lakes, NJ, USA), Johnson & Johnson (J&J, New Brunswick, NJ, USA), Alere Inc. (Reno, NV, USA), Instrumentation Laboratory (Bedford, MA, USA), PTS Diagnostics (Indianapolis, IN, USA), and Nova Biomedical (Waltham, MA, USA).

Related Links:
MarketsandMarkets
Abbott Laboratories
Roche Diagnostics
Siemens
Beckman Coulter
Becton, Dickinson and Company
Johnson & Johnson
Alere
Instrumentation Laboratory
PTS Diagnostics
Nova Biomedical