Point-Of-Care-Testing (POCT) Devices Market – Acquiring 7-8% of Total Medical Device Industry

The global point of care testing (POCT) devices market is anticipated to reach USD 150 billion by 2024 due to the persistent geriatric population as elderly population is highly susceptible to acquire several health disorders as compared to younger adults.

The point of care testing (POCT) device in healthcare sector focuses on value rather than test volume and reimbursement issues that minimize tests to the optimal point where outcomes won’t suffer while cost efficiencies are gained. In future POC can be the part of a paradigm shift from curative medicine to predictive, personalized and preemptive medicine. On the basis of settings and operating the POCT devices there are two categories: Non-professional settings (scenes, non-medical facilities, home, etc) performed by non-traditional operators and professionals settings (Clinics, hospitals, lab, etc) performed by traditional operators. In Mexico, POCT devices are utilized in self-monitoring, over the counter and emergency departments.

According to Goldstein Research, point of care testing (POCT) devices market is segmented on the basis of system basis, clinical specialties, and diseases, area of use and end user. German POCT devices market is almost USD 1.2 billion.  In 2013, North America (US, Canada, and Mexico) held the largest share of the global POC diagnostics market because of huge and increasing addressable patient population base. Similarly, the demand growth for medical devices in Western Europe is expected to stagnate, constrained by the declining expenditure from the budget-constrained healthcare industry. The Asia Pacific, however, presents unique opportunities for medical device producers. For instance, China’s and India’s healthcare service revenues are advanced by 12% and 9%, respectively, in 2016 alone, resulting in a large number of new hospital construction projects and thus soaring demand for medical and surgical equipment.

Global POCT Devices Market Outlook 2016-2024, covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in the healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry point of care testing devices manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.

Global Point of care testing devices Market Segmentation can be classified on the basis of:

 

By Systems Basis

  • Blood Gas Family
  • Cardiac
  • Diabetes
  • Urinalysis
  • Informatics

 

By Clinical Specialties & Diseases

  • Cardiology
  • Critical Care
  • Diabetes
  • Endocrinology
  • Liver Diseases
  • Maternal  Fetal
  • Neonatology

 

By Areas of Use

  • Inpatient Care (Operation Theater, Intensive care ward, Emergency departments, etc)
  • Outpatient Care (Medical Practice, House Visits, etc)
  • Special Areas (Sports medicine, civil protection, and Military)
  • Patient self-monitoring (Glucose monitoring, Anti-coagulant monitoring)
  • Relative Medical Indication (Sports studio, Tests from a pharmacy)

 

By End User

  • Hospitals
  • Clinics
  • Diagnostic Labs
  • Home Care

 

By Geography

  • North America (US, Canada)Point Of Care Testing Devices Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Point Of Care Testing Devices Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) Point Of Care Testing Devices Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America)Point Of Care Testing Devices Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Point Of Care Testing Devices Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

 

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Market Trends, Drivers & Challenges

Increasing scope for new entrants in growing segments like infectious and cardiac areas is the trend in POCT device market. Diabetes represents 67% of the market share and is the primary driver of POCT market followed by other highly growing segments includes cardiac coagulations, infectious disease, and blood gas with great optimization of care processes. MDx based tests for infectious diseases such as MRSA and Sepsis have significant growth potential as they are POC oriented. However, investment costs for a single POCT assay system may seem low but POCT devices are limited to one or few assays only and do not produce a fraction of results during their life cycle compared with instruments in the core laboratory.

Point Of Care Testing (POCT)devices market report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global point of care testing devices market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

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