APAC POCT Device Market is expected to reach USD 4.66 billion by 2024 from USD 2.31 billion in 2016, at a CAGR of 9.2% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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The major factors driving the growth of this market include the rising prevalence of modern lifestyle, increase in chronic and infectious diseases, advancement in technology, scope for unmet medical needs and emerging POCT device. These factors increase the demand for devices such as blood glucose meter, CRP, HBA1c, homocystein. On the other hand, rising costs of POCT device and low reimbursement scenario are regulatory hurdles that may hinder the growth of the market.
Market Segmentation: APAC Point Of Care Testing Market
The APAC POCT Device Market is segmented on the basis of product type, prescription mode, distribution channel, end user, and geography.
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The APAC POCT device market is segmented into twelve product types, such as blood glucose testing kits, cardio metabolic monitoring kits, infectious disease testing kits, cholesterol testing kits, pregnancy and 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, and others. In 2017, the blood glucose testing kits segment is expected to dominate the market with a share of 24.2% and is expected to continue this trend till 2024.
On the basis of prescription mode, the APAC point-of-care testing market is segmented into prescription based testing and over-the-counter (OTC) testing. The OTC testing is projected to witness higher growth rate of 9.7% during the forecast period to reach a value of USD 1.68 billion by 2024.
On the basis of end users, the APAC point-of-care testing market is segmented into hospital, clinics, ambulatory care, home healthcare, and research laboratory. In 2017, the hospital segment is expected to dominate with the market share of 33.2% and is expected to continue this trend till 2024
On the basis of distribution channel, the APAC point-of-care testing market is segmented into direct tenders and retail. In 2017, the direct tender market is expected to dominate the market with a value of USD 1.67 billion.
Based on geography, the market is segmented into 11 geographical regions, such as, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of APAC.
Some of the major players operating in this market are
- Hoffmann La Roche Diagnostics Limited
- Alere Inc.
- Siemens AG
- Becton, Dickinson and Company
- Johnson & Johnson Services Inc.
- PTS Diagnostics
- Instrumentation Laboratory
- Nova Biomedical
- Beckman Coulter, Inc.
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