Point Of Care/POC/Rapid Diagnostic Market By Test (Glucose, Cardiac, HbA1c, HIV, STD, HCV, Pregnancy, Cancer, Hematology), Platform (Immunoassay, Microfluidics, MDx), Mode (Prescription, OTC), End User (Hospital, At Home, OPD) – Global Forecast To 2024
Point of Care/POC/Rapid Diagnostics Market by Test (Glucose, Cardiac, HbA1c, HIV, STD, HCV, Pregnancy, Cancer, Hematology), Platform (Immunoassay, Microfluidics, MDx), Mode (Prescription, OTC), End User (Hospital, At Home, OPD) - Global Forecast to 2024
The global point of care (POC) diagnostics market is expected to grow at a CAGR of 8% from 2018 to reach $30.9 billion by 2024. Factors such as high prevalence of infectious diseases, rising incidence of target diseases, need for rapid diagnostics, skilled staff shortages in diagnostic labs, growing preference for home healthcare/self-testing, and favorable government initiatives for the adoption of POC testing products are expected to fuel the growth of point of care diagnostics market during the forecast period.
Despite the significant advances in sanitation and medicine, infectious diseases still annually claim in excess of more than 15 million lives in recent years. Infectious diseases are now emerging or reemerging almost every year; thus, accurate diagnostics play a critical role in clinical decision making, and in disease control, and prevention. Therefore, POC tests for infectious diseases are expected to witness the highest growth among all POC products during the forecast period.
The Lateral Flow Immunoassay (LFIA) technology is the most simple and successful rapid diagnostics testing platform. The development of LFIA tests for use in developing countries has been focused majorly on infectious diseases including HIV, Strep A/B, legionella, malaria, respiratory viruses, influenza, meningitis, filariasis, tuberculosis, measles, mumps, rubella, chlamydia, and gonorrhea. LFIA platforms have significantly impacted on the treatment of cardiac diagnosis as well. Therefore, based on platform, LFIA dominates the POC market and will continue to play an important role during the forecast period owing to the increasing prevalence of infectious diseases and growing adoption of lateral flow POC diagnostics as compared to lab tests.
Based on end user, home care/self-testing commanded the largest share of the global point of care diagnostics market. This segment is also expected to witness the highest CAGR during the forecast period owing to the mounting inclination for at home healthcare, growing focus on continuous and remote monitoring, and expanding need for rapid tests among home care users.
An in-depth analysis of the geographic scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. North America commanded the largest share of the global POC market, followed by Europe, Asia-Pacific (APAC), Latin America, and the Middle East & Africa. However, APAC is estimated to be the fastest growing region due to presence of significant patient pool especially in rural/remote areas with limited healthcare access, aging population, rising burden of chronic diseases and infectious diseases. In APAC, China provides lucrative growth opportunities for the point of care diagnostics market players.
Key players operating in the global POC market are Abbott Laboratories (U.S.), AccuBioTech Co., Ltd. (China), Becton Dickinson and Company (U.S.), Chembio Diagnostic Systems, Inc. (U.S.), Danaher Corporation (U.S.), EKF Diagnostics Holdings plc (U.K.), WerfenLife, S.A. (Spain), Johnson and Johnson Service, Inc. (U.S.), Nova Biomedical (U.S.), Roche Diagnostics (U.S.), Sekisui Diagnostics LLC (Japan), Quidel Corporation (U.S.), Siemens AG (Germany), and Trinity Biotech (Ireland).
Scope of the Report:
Market by Product:
Blood Glucose Monitoring Testing Products
Lancets & Lancing Devices
Cardiac-Metabolism Monitoring Testing Products
Blood Gas/Electrolytes Testing
Infectious Disease Testing Products
Hepatitis C Testing
Sexually Transmitted Disease (STD) Testing
Healthcare-Associated Infection (HAI) Testing
Respiratory Infection Testing
Tropical Disease Testing
Other Infectious Disease Testing
Coagulation Monitoring Products
Prothrombin Time (PT/INR) Testing
Activated Clotting Time (ACT/aPTT) Testing
Pregnancy and Fertility Testing Products
Tumor/Cancer Markers Testing Products
Urinalysis Testing Products
Cholesterol Testing Products
Hematology Testing Products
Drugs of Abuse Testing Products
Fecal Occult Testing Products
Other POC Testing Products
Market by Platform:
Lateral Flow Assays (Immunochromatography Tests/Lateral Flow Immunoassays)
Market by Mode:
Over-the-counter (OTC) Testing
Market by End User:
Home Care/Self Testing
Physician Offices & Outpatient/Ambulatory Care Settings
Market by Geography:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
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