According to a new study published by Polaris Market Research the global point of care (PoC) diagnostics market is anticipated to reach USD 34.6 billion by 2025.
Point of Care (PoC) diagnostics, are medical devices or tools that helps to diagnose the disease in patient’s community, usually outside of clinical labs. The point of care allows earlier diagnostics of disease and to improve the health status of patients. The point of care diagnostics can help to save patient’s expenses by early and accurate diagnosis of disease, and by reducing unnecessary travel to clinic.
The point of care diagnostics helps to improve early and correct detection of disease. The point of care diagnostics is composed of approved tests that are carried out near the patient and self-test/at home (over the counter). The point of care diagnostics test requires few seconds for the result and do not require permanent dedicated space in a clinical laboratory. The point of care diagnostics test includes small labs near ICUs at hospitals that perform rapid tests.
Increasing incidences of chronic diseases such as cancer, diabetes, along with rising awareness for early disease diagnosis is expected to drive the growth of point of care diagnostics market are key factors responsible for the growth of point of care diagnostics market globally. Moreover, growing research and development expenditure by top players of the point of care diagnostics market is expected to fuel the growth of the global market. However, high expenditure for product development and stringent regulatory environment may hamper the growth of market.
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The global Point of Care (PoC) Diagnostics market is segmented on the basis of product type, mode of prescription, end user, and by region. By product type, the global Point of Care (PoC) diagnostics market is further segmented into cardio metabolic monitoring kits, infectious disease testing kits, glucose monitoring kits, coagulation monitoring kits, pregnancy and fertility testing kits, tumor/cancer markers, urinalysis testing kits, hematology testing kits, cholesterol test strips, drugs-of-abuse testing kits, fecal occult testing kits, and other point of care testing kits. The infectious disease segment by product type in the global point of care diagnostics market is estimated to grow at high pace during the forecast period. The rising prevalence of infectious diseases such as AIDS and HIV globally is expected to propel the growth of segment in the global point of care diagnostics market.
By end user, the global Point of Care (PoC) Diagnostics market is further segmented into professional diagnostics centers, research laboratories home care settings, and others. On the basis of end user, the professional diagnostics segment accounted major share in the global point of care diagnostics market. The professional diagnostics centers segment comprises outpatient healthcare settings, hospitals, and ambulatory care centers. The home care settings segment by end user is estimated to grow at high CAGR during the forecast period. The increasing demand for diagnostics tools are home is expected to propel the growth of global point of care diagnostics test market globally.
The key players operating in global Point of Care (PoC) diagnostics market includes Abbott Laboratories, Inc., Roche Diagnostics, Siemens AG, Beckman Coulter, Inc., Becton, Dickinson and Company, bioMerieux, Johnson & Johnson, Instrumentation Laboratory, PTS Diagnostics, and Nova Biomedical among others. The increasing investment in research and development activities across the top players is expected to propel the growth of market in the global point of care diagnostics market.
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According to the new market research report “Lancets Market by Type (Safety Lancets (Push button, Pressure Activated, Side Button), Personal Lancets), Application (Glucose Testing, Hemoglobin Testing), End User (Hospital, Clinic, Homecare), Region – Global Forecast” published by MarketsandMarkets™.Revenue Growth Opportunities and Growth Drivers?The Lancets Market is projected to reach USD 1,442 million, at a CAGR of 12.4%Growth Boosting Factors:Growing Prevalence of DiabetesHigh Prevalence of Infectious DiseasesHigh Growth Prospects in Emerging CountriesObjectives of the Study:To define, describe, segment, and forecast the global lancets market by type, application, end user, and regionTo provide detailed information about the factors influencing market growth (such as drivers, restraints, opportunities, and challenges)To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall marketTo analyze market opportunities for stakeholders and provide details of the competitive landscape for key playersBrowse 75 market data Tables and 27 Figures spread through 107 Pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=86063487Market Segmentation in Detailed:By end user, segmented into hospitals and clinics, home care settings, and other end users (diagnostic centers and pathology laboratories).
In 2019, the hospitals and clinics segment is expected to dominate the blood lancets market.
The dominant share of this segment is primarily attributed to the availability of a large patient pool and the increasing prevalence of infectious diseases that require blood testing for diagnosis and treatment.The glucose testing segment accounted for the largest share of the lancets market, by application, in 2018.
This is primarily due to the increasing prevalence of diabetes, and the need for its prevention and management.
For instance, according to the International Diabetes Federation (IDF), there were almost 425 million people suffering from diabetes worldwide, and this figure is expected to increase to 629 million by 2045.
The growing prevalence of diabetes has resulted in the increased adoption of lancets to effectively handle the growing patient pool.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=86063487North America dominated the market, followed by Europe.
The global infectious disease diagnostics market was valued at USD 13.93 Billion in 2016 and projected to reach USD 19.35 Billion in 2022, at a CAGR of 5.6%.
The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2022.
Growth in this market is primarily driven by the increasing global prevalence of infectious diseases, shift in focus from centralized laboratories to decentralized point-of-care testing, and growth in funding for research on infectious disease diagnosticsDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=116764589Global Market Segmentation:The market is broadly segmented into assays, kits, & reagents; instruments; and services & software based on product & service.
The assays, kits, & reagents segment accounted for the largest share of the global market and is expected to register the highest CAGR during the forecast period.
The increasing number of infectious disease diagnostic tests carried out; easy accessibility to a wide range of reagents; and the growing need for reliable, specific, and faster detection of infectious diseases in the early stages are the key factors driving the IDD assays, kits, & reagents market.Based on the disease type, the market is segmented into hepatitis, HIV, HAIs, CT/NG, HPV, TB, Influenza, and other diseases.
The hepatitis diagnostics segment accounted for the largest share of the global market in 2017.
