SAN FRANCISCO, March 19, 2020 /PRNewswire/ -- The global
point of care diagnostics market size is expected to reach
USD 24.1 billion by 2027, expanding at a CAGR of
3.2%, according to a new report by Grand View
Research, Inc. Continuous advancement in the development of highly
sensitive and specific miniaturized biosensors, based on
microfluidic systems along with handheld devices, is anticipated to
drive the market. These systems are capable of automation,
integration, and multiplex detection, suitable for use in areas
without well-trained professionals.
Key suggestions from the report:
- Glucose testing accounted for the largest revenue share
owing to the high incidence rate of diabetes and the abundant usage
of portable glucose meters
- Cancer markers are expected to witness the fastest growth
rate due to the extensive ongoing R&D activities related to
cancer and growing demand for circulating tumor cells (CTC) - based
cancer detection
- POC tests offer several benefits as compared to conventional
lab tests that lead to their high utilization rate in clinics,
resulting in the largest revenue share of clinics
- These benefits include reduced turnaround testing timeline,
delivery of on-site results, minimal contact with clinical staff,
and faster diagnosis
- Continuous development of point of care devices, especially
glucose meters, for home care settings, early detection, and
prevention of diseases is expected to drive the home segment at the
fastest growth rate
- North America dominated the
point of care testing market owing to the favorable government
initiatives and programs related to lipid and blood sugar level
testing that encourage the usage rate of point of care tests in
this region
- Key participants operating in this market include Danaher;
Abbott Laboratories; bioMérieux SA; Trividia Health, Inc.; QIAGEN,
F. Hoffmann-La Roche Ltd.; and Siemens
- Companies are adopting several strategic developments
related to the development of biosensors for point of care
settings
- For instance, in September
2019, BioMed X completed its collaboration with Roche
Diagnostics for the development of nanomaterial-based biosensors
for point of care testing
Read 250 page research report with ToC on "Point of Care
Diagnostics Market Size, Share & Trends Analysis Report By
Product (Glucose Testing, Blood Gas/ Electrolytes, Cancer Marker),
By End Use (Clinics, Hospital), By Region, And Segment Forecasts,
2020 - 2027'' at:
https://www.grandviewresearch.com/industry-analysis/point-of-care-poc-diagnostics-industry
These tests have emerged as an indispensable part of modern
healthcare, as it improves the quality, accuracy, availability, and
affordability of patient care. The uptake of POC devices is rapidly
progressing due to the incorporation of advanced technologies. For
instance, in July 2019, HiberGene
Diagnostics has outlined plans to develop a cost-effective POC
testing system based on its licensed loop-mediated isothermal
amplification technology.
The growing popularity of rapid testing in near-patient settings
has positively impacted point of care testing market growth. The
rise in investments to develop advanced rapid testing devices, such
as single integrated user-friendly devices, fuels market
progression. For instance, in February
2019, the Global Health Investment Fund (GHIF) granted
USD 6 million to Atomo Diagnostics
for the commercialization of its AtomoRapid diagnostic test
platform.
Grand View Research has segmented the global point of care
diagnostics/testing market based on product, end use, and
region:
- Point of Care Diagnostics/Testing Product Outlook (Revenue,
USD Million, 2016 - 2027)
-
- Glucose Testing
- Hb1Ac Testing
- Coagulation
- Fertility
- Infectious Diseases
-
- HIV POC
- Clostridium Difficile POC
- HBV POC
- Pneumonia or Streptococcus Associated Infections
- Respiratory Syncytial Virus (RSV) POC
- HPV POC
- Influenza/Flu POC
- HCV POC
- MRSA POC
- TB and Drug-Resistant TB POC
- HSV POC
- Other Infectious Diseases
- Cardiac Markers
- Thyroid Stimulating Hormone
- Hematology
- Primary Care Systems
- Decentralized Clinical Chemistry
- Feces
- Lipid Testing
- Cancer Marker
- Blood Gas/Electrolytes
- Ambulatory Chemistry
- Drug Abuse Testing
- Urinalysis
- Point of Care Diagnostics/Testing End-Use Outlook (Revenue,
USD Million, 2016 - 2027)
-
- Clinics
-
- Physician Office
- Pharmacy & Retail Clinics
- Non-practice Clinics
- Urgent Care Clinic
- Hospitals
- Home
- Assisted Living Healthcare Facilities
- Laboratory
- Point of Care Diagnostics/Testing Regional Outlook (Revenue,
USD Million, 2016 - 2027)
-
- North America
-
- Europe
-
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Asia Pacific
-
- China
- Japan
- India
- Korea
- Australia
- Singapore
- Latin America
-
- Brazil
- Mexico
- Chile
- Argentina
- Middle East & Africa
-
- Saudi Arabia
- South Africa
- United Arab Emirates
- Nigeria
- Qatar
- Kenya
- Zimbabwe
Find more research reports on Clinical Diagnostics
Industry, by Grand View Research:
- Point-of-Care Molecular Diagnostics Market – The global
point-of-care molecular diagnostics market size was valued at
USD 1.72 billion in 2018 and is
anticipated to expand at a CAGR of 14.4% over the forecast
period.
- In Vitro Diagnostics Quality Control Market – The
global In Vitro Diagnostics quality control market size was valued
at USD 905 million in 2018 and is
anticipated to register a CAGR of 4.1% over the forecast
period.
- Primary Care POC Diagnostics Market – The global
primary care POC diagnostics market size was estimated at
USD 6.3 billion in 2016.Rapid
evolution of point-of-care testing holds enormous potential for the
growth of both primary and secondary care settings.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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