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.
Adaptation of automated laboratory systems and highly integrated solutions facilitate the diagnostic workflow, which in turn drives adoption of point of care diagnostic/testing products. Lack of skilled professionals or medical personnel with limited training especially in diagnostics can also easily use these devices.
Rise in R&D activities among key players to introduce novel POC tests and devices for rapid disease detection and monitoring is expected to fuel industrial progression. Recently, in February 2018, Siemens Healthineers received a Food and Drug Administration (FDA) approval for its Total Carbon Dioxide (TCO2) and Blood Urea Nitrogen (BUN) POC tests, thereby enhancing its market presence.
Moreover, high prevalence of chronic disorders and cancer results in large customer base adopting cost-effective and immediate diagnostic tests, propelling the point of care diagnostics/testing market. This is further supplemented by numerous favorable initiatives to promote the employment of POC tests in diagnosis and screening procedures.
The global point of care testing market size is expected to reach USD 22.8 billion by 2025, at a CAGR of 3.3%, according to a new report by Grand View Research, Inc. The ability of Point of Care (POC) tests to render rapid and accurate results to promote patient-centered healthcare at bedside settings as well as in the remote areas results in higher penetration of POC devices and solutions.
Further key findings from the report suggest:
- Glucose testing held the maximum revenue share in 2018 due to high prevalence of diabetes and introduction of a wide variety of glucose meters by companies
- Hb1Ac testing segment is also expected to show similar trends owing to high competition among key players while delivering low-cost Hb1Ac tests
- Detection and analysis of circulating tumor cells during cancer progression is predicted to drive the cancer marker vertical with the fastest penetration rate in the forthcoming years
- Clinics is estimated to hold the dominant revenue share of the POC diagnostic industry in 2018, due to the employment of a wide range of POC tests
- Increasing awareness about decentralized tests among patients has resulted in lucrative growth of home-based POC testing
- U.S. is anticipated to North America owing to the presence of key participants with undergoing significant number of research endeavors in the country
- Continuous developments in healthcare sector to introduce novel and accurate diagnostic tests exhibit a potential growth of the market in Asia Pacific
- Major participants in the point of care diagnostics market include F. Hoffmann-La Roche Ltd.; Danaher Corporation; Abbott Laboratories; bioMérieux SA; Instrumentation Laboratory SpA; Nova Biomedical; Trividia Health, Inc.; QIAGEN; Becton Dickinson & Company; Sekisui Diagnostics LLC; Quidel Corporation; and Siemens Healthcare GmbH
- Key vendors are undergoing numerous strategic developments such as product development, acquisitions, partnerships, and agreements to gain greater market share. For instance, in May 2017, Becton, Dickinson and Company collaborated with the FIND to develop point of care based biomarker test for bacterial infections.
Grasp advance knowledge on global point of care diagnostics/testing industry through in-depth research insights: www.grandviewresearch.com/research-insights/point-of-care-diagnostics-market-size-share
The global point-of-care molecular diagnostics market size is anticipated to reach USD 3.86 billion by 2024 expanding at a CAGR of 14.4%, according to a new report by Grand View Research, Inc.
Ongoing research & development to miniaturize molecular diagnostics testing that provides enhanced near patient testing with high accuracy and lesser turnaround times are major factors expected to reinforce the high growth potential for POC MDx products.Growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period.
Ongoing research and development is continually supported and funded by a number of major international entities including the governments of developed countries.Furthermore, a growing portfolio of point-of-care testing capabilities that, had initially been focused on screening, testing, and diagnosis of infectious diseases in low-income developing countries, has been developing at a rapid pace over the past decade to expand its potential market to a broader range of medical faculties.
Consequently, POC and molecular diagnosis tests are available and/or are under development for cardiology monitoring, oncology testing, and hematology testing.Recent advances in the development of microfluidics and genetic sequencing instrumentation pave the way for development of cost-effective, highly accurate and rapid testing platforms, which are able to be used as true POC systems.
This is a key factor that significantly contributes towards the favorably funded, high growth potential environment prevalent in the PoC molecular diagnostics market.Further key findings from the study suggest:Application of POC MDx tests for infectious diseases accounted for over 45% of market revenue in 2018 due to the presence of many major market entities with an extensive product portfolioGrowing burden of infectious diseases in both developing and developed countries is another factor responsible for the dominance of this segmentPCR-based POC tests is the largest revenue generating segment of the market in 2018.
Widespread usage of PCR-based techniques for molecular diagnosis and commercialization of POC real time PCR products have provided ample opportunities for segment growthNorth America was the largest region and accounted for 43.5% of the global revenue share due to the presence of technologically advanced medical framework, high R investments by governments and private organizations for the development of POC MDx testsKey companies in the market include Johnson & Johnson; Danaher Corp.; Cepheid, Inc.; Bio-Rad Laboratories, Inc.; bioMerieux; Becton, Dickinson and Company; F. Hoffmann-La Roche AG; Bayer HealthCare Pharmaceuticals LLC ; Alere, Inc.; (Abbott), and Abbott Laboratories
Point of care (POC) diagnostic devices are used to acquire particular clinical information of patients in clinical as well as resource-limited settings.
These devices are widely used to obtain diagnostic results.
POC diagnostics include sample testing to facilitate rapid diagnosis and help decide the treatment plan accordingly.
POC diagnostics allows early detection of diseases and can impact the medical outcome of treatment of the disease.
Moreover, it is cost-efficient and time-saving, as well as offers various benefits such as can be performed easily, prevent sample spillage, no necessity of skilled professionals, etc.Point of care (POC) diagnostic devices are also used to test cholesterol and glucose levels, test for drugs of abuse and infectious diseases, do electrolyte and enzyme analysis, and for pregnancy testing.
POC allows physicians to accurately achieve real-time, lab-quality diagnostic results within minutes rather than hours.Point of care (POC) diagnostic devices are used for the diagnosis and treatment of diseases and medical conditions in nursing and other health care settings.
