The Global
Point of Care Diagnostics Market is driven by technological improvements
and introduction of sophisticated medical solutions. A host of healthcare
establishments are gradually taking to point of care tests and diagnostics
solutions for greater efficiency. Growing popularity of EMR (electronic medical
record) and PACS (picture archiving and communication systems) has a positive
impact on market demand.
Other industry drivers are governmental
support, surging healthcare investments, growing geriatric population, and
widespread adoption of home based POC devices. When medical diagnostics tests
are carried out at the place of patient care, it is known as bedside testing or
POCT (point-of-care-testing). New product development is a vital factor that
may contribute significantly to market growth during the forecast period (2012
to 2020).
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Products, end users, and regions are the
parameters based on which the global point of care (POC) diagnostics industry
is categorized. As per products, the segments are blood gas/electrolytes,
fertility, cardiac markers, OTC & rapid diagnostic tests, infectious
diseases, coagulation, drug abuse testing, hospital glucose testing,
decentralized clinical chemistry, hematology, and urinalysis. Products also
include primary care systems, such as HbA1c tests and lipid profiling. Hospital
glucose testing holds the highest market share. Factors that propel this
segment are high incidence of diabetes and the growing necessity for glucose
analysis on a regular basis.
The OTC & rapid diagnostic tests market
may expand robustly over the forecast period because of the “self diagnosis”
trend. People nowadays are highly aware of the importance of early disease
diagnosis for on-time & instant disease treatment. Based on end users, the
global industry is divided into laboratories, hospitals, clinics, assisted
living healthcare facilities, homes, and others. Hospitals & clinics
generate highest revenues in the overall market. Diagnostic tests are mostly
conducted in clinics and in hospitals. As a result, most of these healthcare
centers have begun expanding their POC diagnostic facilities.
Geographically, the worldwide Point Of Care
Diagnostics Market is categorized into Asia Pacific, Europe, North America, and
Rest of the World (RoW). North America is the largest regional industry. High
degree of patient awareness, encouraging government initiatives, and
substantial investments in medical infrastructure are prominent regional
drivers. It is however, expected that Asia Pacific will register the highest
growth rate over the forecast period. This attributes to improvements in healthcare
infrastructure in emerging countries, such as India and China.
Companies operating in the global Point Of
Care Diagnostics Market continuously strive towards capturing higher market
shares. They invest robustly in R&D and product innovations. Prominent
market competitors are Trinity Biotech PLC, Danaher Corporation, Siemens
Healthcare, Roche Diagnostics, and Becton Dickinson and Company.
In September 2016, Novartis launched the
NijiTM System and Total IgE Test, a POC diagnostic tool. By using just a
droplet or two of finer stick blood, this device delivers Immunoglobulin E
(IgE) levels in a matter of twelve minutes. This test caters to immediate
in-office diagnosis of allergies associated with IgE levels. The availability
of such tests in the offices of healthcare providers leads to reduced time for
consultation, diagnosis, prognosis, and disease treatment. This in turn leads
to better patient outcomes.
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