(Health-NewsWire.Net, March 15, 2019 ) The global point-of-care diagnostics market is projected to reach USD 38.13 Billion by 2022 from USD 23.71 Billion in 2017, at a CAGR of 10.0% during the forecast period.
Factors such as the high prevalence of infectious diseases in developing countries, increasing incidence of target diseases, rising preference for home healthcare across the globe, and growing government initiatives supporting the adoption of POC diagnostic products are expected to drive the demand for point-of-care diagnostic products during the study period.
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Based on product, the infectious disease testing products segment is expected to register the highest growth rate during the forecast period
Based on product, the global POC diagnostics market is segmented into glucose monitoring products, infectious disease testing products, coagulation testing products, cardiometabolic testing products, hematology testing products, urinalysis testing products, cholesterol testing products, drugs of abuse testing products, tumor/cancer marker testing products, pregnancy and fertility testing products, fecal occult testing products, and other POC products (multi-assay testing, liver testing, hepatitis A & B testing, and vitamin assay testing). The infectious disease testing products segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the growing patient population base and increasing availability and awareness about infectious disease POC testing products.
Based on platform, lateral flow assays are estimated to be the largest segment of the market in 2017
Based on platform, the point-of-care diagnostics market is segmented into lateral flow assays, immunoassays, POC molecular diagnostics, dipsticks, and microfluidics. The lateral flow assays segment is expected to account for the largest share of the market in 2017. The large share of this segment can be attributed to the increasing prevalence of infectious diseases and growing adoption of lateral flow POC diagnostics as compared to lab tests.
Based on end user, the home care segment is expected to register the fastest growth rate in the forecast period
Based on end user, the point-of-care diagnostics market is segmented into professional diagnostic centers, home care, research laboratories, and other end users. The home care segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.
North America accounted for the largest share of the point-of-care diagnostics market
Geographically, the point-of-care diagnostics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is estimated to account for the largest share of the market in 2017. This can be attributed to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives to support the adoption of POC in this region.
The major players of the point-of-care diagnostics market are Abbott (US), Roche (Switzerland), Siemens (Germany), Danaher (US), Becton, Dickinson, and Company (US), Johnson & Johnson (US), Instrumentation Laboratory (US), PTS Diagnostics (US), Quidel (US), Chembio (US), Sekisui Diagnostics (US), Nova (US), EKF Diagnostics (UK), AccuBioTech (China), and Trinity Biotech (US).
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Mr. Shelly Singh