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.
For full research report on Point of
Care Diagnostics Market visit here: 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
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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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