Global Point of Care Test (POCT) Market: Size & Forecast with Impact Analysis of COVID-19 (2020-2024)

Global Point of Care Test (POCT) Market: Size & Forecast with Impact Analysis of COVID-19 (2020-2024)

Scope of the Report

The report entitled “Global Point of Care Test (POCT) Market: Size & Forecast with Impact Analysis of COVID-19 (2020-2024)”, provides a detailed analysis of the global point of care test market with description of market sizing and growth. The analysis includes market by value, by product, by technology, by prescription, by region, and by disease. Furthermore, the report also provides detailed product, technology, prescription and regional analysis.

Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and would be driving the growth of the industry. Growth of the overall global point of care test market has also been forecasted for the years 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global point of care test market is consolidated as the majority of market share is captured by top ten player of the market. Some of the key players operating in the global point of care test market, whose company profiling has been done in the report are Roche, Danaher Corporation, Abbott Diagnostics, and Siemens AG. This segment of the report provides business overview, financial overview and business strategies of the respective companies.

Region Coverage

North America
The US
Asia Pacific
Japan
China
Europe

Company Coverage

Roche
Danaher Corporation
Abbott Laboratories
Siemens AG

Executive Summary

Point of care test (POCT) is a type of diagnosis where tests are performed at or near a patient and at the site where care or treatment is provided. It is generally performed outside of a laboratory setting. Such type of testing provides results within a short span of time and allows for faster therapeutic action. Some of the common examples of POCT devices are blood glucose monitors, thermometers, home pregnancy tests, and rapid strep tests. Point of care test can be performed in all forms of settings such as emergency/critical settings and self care settings. Such type of diagnosis is also known as beside testing, near patient testing, mobile testing, remote testing etc.

Point of care test on the basis of product can be broadly categorized into glucose monitoring, BGEM, cardiac markers, infectious disease, pregnancy and fertility, alcohol & drug abuse, haemoglobin, cholesterol, and urine chemistry. Furthermore, on the basis of technology point of care test are bifurcated into biosensors and microfluidics.

The global point of care test market has shown tremendous growth over the past few years and projections are made that the market would grow at a rapid pace over the forecasted period (2020-2024) as well. The aging population and rising prevalence of infectious & chronic diseases are the major factors contributed in the growth of market. Moreover, rising diabetic population, expanding healthcare costs, cost effectiveness of point of care testing etc. would further augment market growth.

However, the market faces some challenges which are restraining the growth. Some of the major challenges faced by the industry are: difficulty in management of POC testing, quality concern issues associated with POCT devices, testing performed by non laboratory personnel etc. Though, the market growth would be further supported by various market trends like advancement in technology, increase in home-based POC usage, advent of decentralized laboratory testing etc.