Global Point-of-care Diagnostics Market: Snapshot

The global point-of-care (PoC) diagnostics market has been witnessing rapid growth. The market is fueled rising patient preference for these tests and by technological advancements. Device manufacturers have been making continuous progress in terms of research and development to come up with newer and more advanced products and technologies. The point-of-care diagnostics market is gaining a significant boost from the growing prevalence of infectious diseases, particularly in developing countries such as India, China, South Africa, and Brazil. This is likely to create immense opportunities for players in the market. The growing demand for home-based and portable point-of-care devices that are faster, more advanced, and easy to use is also propelling the global market.

The worldwide market for point-of-care diagnostics is slated to expand from a value of US$6.8 bn in 2016 to reach US$11.7 bn by 2024, exhibiting a 6.9% CAGR therein.

point of care diagnostics market

Point-of-care Diagnostics Market Dominated by Infectious Disease Testing Application Segment

By way of product type, the point-of-care diagnostics market is led by the lateral flow assay test segment as there is a significant demand for decentralized diagnostic tests. Lateral flow tests are n ideal replacement for laboratory-based immunoassays in decentralized PoC testing locations. The solid phase assay test segment is anticipated to exhibit a high growth rate during the course of the forecast period. The increasing prevalence of chronic diseases will fuel the growth of this segment.

By application, the market for point-of-care diagnostics is dominated by the infectious disease testing segment. The prevalence of an increasing number of life-threating infectious diseases such as HIV/AIDS, swine flu, and Ebola are likely to aid the segment in attaining the top spot. Many developing countries have been facing serious challenges when it comes to accurately identifying and diagnosing infectious diseases. Point-of-care diagnostics ensure speedy results to patient without the need for special equipment, facilities, or training. The methods are also almost always cost-effective and easily interpreted. This gives the segment an added boost.

North America and India Most Promising Markets for Point-of-care Diagnostics

The global market for point-of-care diagnostics is segmented by way of geography into Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America. Asia Pacific and North America are two of the prominent markets in the world.

North America accounted for a share of just under 40.0% in 2015 based on value, emerging as the leading point-of-care diagnostics market. The region holds the dominant spot in terms of both volume and revenue, fueled by factors such as rising popularity of portable testing equipment, the availability of low-cost devices, and rising incidence of substance abuse. The US is single-handedly propelling the North America market, accounting for just short of 65% in 2015. This can be attributed to increased prevalence of chronic diseases and greater adoption of early disease detection procedures.

The Asia Pacific market for point-of-care diagnostics will exhibit a strong growth rate over the course of the forecast period, fueled by the stellar performance of Japan as an emerging market. The Japan point-of-care diagnostics market is supported by a number of favorable factors, including a rise in government initiatives and investments and increasing awareness among people regarding early detection of diseases. Based on market size, India is likely to emerge as one of the most lucrative markets for point-of-care diagnostics in Asia Pacific.

Alere Inc. and B. Braun Melsungen AG are two of the leading companies in the global point-of-care diagnostic market. Other key players include Becton, Dickinson and Company, Nipro Corporation, Teleflex, Inc., Cook Medical, Fresenius Medical Care, and Medtronic Plc.

Global Point-of-Diagnostics Market: Overview

Point-of-care diagnostics is carried out in the clinics, home or near patient locations for testing of a sample from a patient in order to facilitate a prompt clinical decision regarding patient management. The report on point-of-care diagnostic market, analyzes the current and future prospects of the market. The report consists of an executive summary that provides information about the products, its segments and sub-segments, along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2015.

Global Point-of-Diagnostics Market: Drivers and Restraints

A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the point-of-care diagnostic market, along with porter’s analysis, value chain analysis, of the global market, has been provided in this report. Market revenue and volume analysis for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc. Pricing analysis, for every region has been provided considering the average selling prices (ASP), of products, in these regions.

This report provides in-depth analysis of the point-of-care diagnostic market. The stakeholders for this report include companies involved in the manufacturing of Point-of-care Diagnostics. Executive summary section is included snapshot on stakeholders in this report, which summarizes the market size, trends and competition in different regions. Market players and Market share analysis is analyzed to signify percentage share of the major players operating in the point-of-care diagnostic market. Furthermore, the report includes market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.

Global Point-of-Diagnostics Market: Research Methodology

The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of key opinion leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.  

Global Point-of-Diagnostics Market: Segmentation

Based on product type, the point-of-care diagnostic market has been segmented into Lateral flow assay test, Flow- through test, Solid phase assay test, Agglutination assay test. Based on applications, the point-of-care diagnostic are segmented into Infectious Disease test, Cholesterol monitoring, Substance abuse test, Fertility & Pregnancy test, Blood Glucose Test. Based on end users, the market is segmented as hospitals, clinics, homecare settings and diagnostic centers. 

Global Point-of-Diagnostics Market: Regional Outlook

Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, Rest of Middle East & Africa. The report also comprises list of major players in the market, their SWOT analysis, market share of these players in the Point-of-care Diagnostic market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Alere Inc., Abbott Laboratories, Becton, Dickinson & Company, F. Hoffmann La Roche Ltd., Bio-Rad Laboratories, Inc. and Trinity Biotech among others.

The Point-of-care Diagnostic market has been segmented as follows:

Point-of-care Diagnostics Market, by Product Type

  • Lateral flow assay test
  • Flow- through test
  • Solid phase assay test
  • Agglutination assay test

Point-of-care Diagnostics Market, by Application

  • Infectious Disease Test
  • Cholesterol monitoring
  • Substance abuse Test
  • Fertility & Pregnancy Test
  • Blood Glucose Test

Point-of-care Diagnostics Market, by End Users

  • Hospitals
  • Clinics
  • Homecare Settings
  • Diagnostic Centers

Point-of-care Diagnostics Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa