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.
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.
Browse full research report on Point
of Care Diagnostics Market:
https://www.grandviewresearch.com/industry-analysis/point-of-care-poc-diagnostics-industry
Further key
findings from the report suggest:
- 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
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/point-of-care-poc-diagnostics-industry/request/rs1
Grand
View Research has segmented the global point of care testing market on the
basis of 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
- U.S.
- Canada
- 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 (MEA)
- Saudi Arabia
- South Africa
- United Arab
Emirates
- Nigeria
- Qatar
- Kenya
- Zimbabwe
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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