Data Bridge Market Research new Insight’s on “Global Point-of-Care Testing (POCT) Market" is projected to reach 38.2 billion by 2024, from USD 18.5 billion in 2016 growing at a CAGR of 9.5% during the forecast period of 2017 to 2024”.
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Global Point-of-care Testing (POCT) Market Trends and Forecast to 2024 – By Product (Blood Glucose Testing Kits, Cardiometabolic Monitoring Kits, Infectious Disease Testing Kits, Cholesterol Testing Kits, Pregnancy & Fertility Tests Kits, Tumor/Cancer Markers, Urinalysis Testing Kits, Cholesterol Test Strips, Hematology Testing Kits, Drugs Of Abuse Testing Kits, Fecal Occult Testing Kits, Rapid Coagulation Testing Kits, & Others),By Prescription Mode (Prescription Based Testing & Over-The-Counter Testing),By Distribution Channel (Direct Tenders & Retail),By End User (Hospital, Clinics, Ambulatory Care, Home Healthcare, & Research Laboratory), By Geography (North America, Europe, Asia-Pacific, South America, Rest of the World)
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
The demand for point-of-care testing (POCT) is growing due to the value-shift in healthcare and increasing technological advancements. Also, the rising prevalence of lifestyle and infectious diseases, early detection of diseases, and management of multiple chronic conditions is fueling the growth of the market. Some of the other factors contributing to the growth of the market are Private investments and venture funding, new product development and government support, increasing adoption of POC devices, and miniaturization of devices. On the other hand, factors such as pricing pressure, low reimbursement, and XX are restraining the growth of the market.
Factors such as emerging market, growing patient pool, rising number of partnerships and joint ventures, and rising initiatives by the market players will contribute to the growth of the market in future. Also, the current focus of the companies on the development of devices for diagnosis and treatment of cancer, stroke, and cardiac patients will drive the market in future. To compete with other POCT companies in the future, POCT companies will need to employ a different set of digital strategies and connectivity solutions.
The global point-of-care testing market is highly fragmented with various companies operating in local regions. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. For instance, in June 2015, Roche launched its Cardiac point-of-care (POC) troponin test for the cobas h 232 system which is available for countries which accept the CE Mark. This product has improved accuracy at low concentrations and it will help in diagnosis of heart attack patients with high mortality risk. The report includes company share data for different geographies including Global, North America, Europe and APAC.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others.
The global point-of-care testing market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market.
Some of the Major Players Operating in this Market are :
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The APAC Point-of-Care Testing (POCT) Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 14.6% in the forecast period 2017 to 2024, expected to reach USD 11.5 million by 2024.
Asia-Pacific Point-of-Care Testing (POCT) Market – Industry Trends and Forecast to 2027
Global Point-of-Care Testing (POCT) Market – Industry Trends - Forecast to 2026
Point-of-Care Testing Market to Witness High Demand Due to Increasing Adoption of POC Diagnostics
APAC Point-of-care Testing (POCT) Market is poised to grow at 14.6% till 2024
Point-Of-Care Testing (POCT) Market is Expected to Reach a Market Value of USD 41.7 billion by 2026
Global Point-of-Care Testing Market is growing at a significant rate in the forecast to 2024