Global POC Diagnostics Market Overview
The point of care (POC) medicine includes the use of medical devices designed to offer an immediate diagnosis and monitoring of various diseases like cancer, diabetes, viscos diseases, and others. These diagnostic devices gives faster result compared to laboratory tests. POC diagnostic devices are gaining popularity, giving a chance to new companies to enter and emerge in the global POC diagnostics market.
In 2017, Global POC diagnostics market was worth USD xx Billion. It is estimated to reach USD xx Billion by the year 2021 with an increasing x% CAGR.
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Drivers and Restraints
Advances in technology, and introduction of cost-efficient and high-quality medical solutions aimed toward achieving miniaturization and science lab automation are expected to serve the point-of-care medicine market as a significant driver. Clinics and alternative aid institutions, so as to produce effective and quick diagnostic results, are choosing the point-of-care that is consequently influencing industrial growth. The lateral flow assays are predicted to account for the most important share of the market in the past few years. The massive share of this phase will be attributed to the increasing prevalence of infectious diseases and growing adoption of lateral flow POC medicine as compared to science lab tests. The communicable disease testing product is predicted to grow at the best CAGR throughout the forecast period. The expansion is also attributed to the growing patient population base and increasing availableness and awareness of communicable disease POC testing products.
Based on geography, North America region is leading the global POC diagnostics market with highest part of the share due to increasing prevalence of diseases and approval of innovative products to medical care industry in the region. Europe and Asia Pacific regions are also predicted to contribute significantly to the global market. Especially, the Asia Pacific region is estimated to be growing with decent CAGR due to factors such as presence of major economies in the region, increasing demand for these diagnostic devices and government’s interest and support in medical care facilities.
Key Players in the Global POC Diagnostics Market:
The major market contributors for the global Point-Of-Care Diagnostics Market are Abbott Laboratories, Inc., Danaher Corporation, Roche Diagnostics Limited, BioMerieux, Siemens Healthcare, Beckman Coulter, Inc., Becton, Dickinson and Company, Johnson & Johnson, Alere Inc., and PTS Diagnostics.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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