Point of Care Diagnostics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $43,336 million by 2022, registering a CAGR of 9.4% during the period 2016-2022. Glucose monitoring kit was the leading segment in 2015 and is expected to continue dominance throughout the forecast period. North America would continue its lead, accounting for more than two-fifths share of the global point of care diagnostics market in 2015.
List of Key Players
The key players in the point of care diagnostics industry are highly focused to expand their business operations in the fast-growing emerging countries with new product launches as the preferred strategy. The key players profiled in this report include Abbott Laboratories, Siemens AG, F. Hoffmann-La Roche Ltd., Sinocare Inc., Johnson & Johnson, Sysmex Corporation, Nova Biomedical, Danaher Corporation, Becton Dickinson and Company, bioMrieux SA, and Bio-Rad Laboratories.
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The prescription-based point of care diagnostics holds largest market share in the global point of care diagnostics market because the devices are frequently used in healthcare facilities and prescribed by healthcare professionals. However, OTC-based point of care diagnostics market is estimated to register fastest CAGR of 10.4% during the forecast period owing to increase in awareness about the innovative and advanced applications of at-home point of care diagnostics and introduction of portable and hand-held devices.
The professional diagnostic center segment controlled major share of the point of care diagnostics industry in 2015. This segment is expected to maintain its lead in the overall point of care diagnostics market throughout the analysis period, primarily because of rise in number of healthcare facilities around the world. Moreover, the demand for point of care diagnostic devices and increase inpatient flow has further boosted the market growth. Moreover, the home end user segment is anticipated to exhibit the highest growth, with a CAGR of 9.7% during the forecast period. This is owing to increase in adoption of at-home point of care diagnostics and rapid launch of innovative and advanced portable devices.
North America and Europe together accounted for nearly three-fourths share of point of care diagnostics industry in 2015, and is expected to maintain this lead throughout the forecast period. The growth in the point of care diagnostics market size in these regions is attributed to the increased adoption of advanced point of care diagnostic devices, rise in awareness about innovative and advanced applications of point of care diagnostic devices, and rapidly aging population coupled with increase in incidences of diabetes and liver diseases. However, Asia-Pacific is projected to be the fastest-growing region, registering a CAGR of 12.0% during the analysis period. Japan is the leader in the Asia-Pacific point of care diagnostics market. This is mainly due to the increase in awareness of innovative and advanced applications of POC testing devices.
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