According to a report by Grand View Research, Inc., global primary care POC diagnostics market is anticipated to value USD 8.6 billion by 2025. Growing requirement for timely diagnosis of chronic diseases to reduce mortality rate can influence demand for primary care POC diagnostics. These medical tests are likely to reduce increasing healthcare expenditure pertaining to secondary and tertiary care through routine screening of patients with early symptoms.
Rising cases of chronic diseases such as diabetes and cancer can augment demand for POC testing (POCT) to prevent complications and reduce mortality rate. High demand for advanced POC technologies among primary care physicians can influence market growth over next few years. Continual efforts for advancement of POC products by manufacturing companies in terms of usability and portability can influence growth of market. In addition, these advancements can ensure effective and unrestricted usage of POC devices in laboratories at primary stages. Growing awareness among population regarding importance of timely diagnosis of diseases can stimulate growth of market. Increasing use of POC testing in remote areas as well as densely populated locations where telehealth services are being used can augment growth. Such decentralization of primary care services across the globe can reduce use of antibiotics and offer better results. This, in turn, can impel growth of market during the forecast period (2014 to 2025).
Full Research Report On Primary Care POC Diagnostics Market Analysis:
The primary care POC diagnostics market can be segregated on the basis of product, end-use, and region. Based on product, the market can be categorized into glucose testing, hb1ac testing, coagulation, fertility, infectious diseases, ambulatory chemistry, thyroid stimulating hormone, hematology, decentralized clinical chemistry, feces, lipid testing, primary care systems, cancer marker, blood gas/electrolytes, cardiac markers, drug abuse testing, and urinalysis.
Based on application, the market can be classified into pharmacy & retail clinics, physician office, urgent care clinics, and non-practice clinics. Physician office segment is expected to witness high demand for POCT attributed to quick and easy results. These tests when supported by experienced doctors to assess patient’s situation and make crucial medical decisions can deliver improved clinical outcomes. POCT can also aid in performing complex tests using small samples as compared to laboratories tests. High demand for stress-free and less time consuming tests among consumers can influence market growth.
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In addition, pharmacy and retail clinics segment can witness significant growth over the forecast period. Rising number of people adopting healthcare plans can reduce medical costs and enhance access to healthcare. This, in turn, can promote availability of POC testing in pharmacies. In addition, growing number of pharmacists performing laboratory tests such as glycosylated hemoglobin and cholesterol screening can fuel market growth. Moreover, increasing number of patients visiting pharmacies to undergo testing for chronic and acute diseases can stimulate growth of market over the forecast period.
Regional segmentation includes Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. In 2016, North America dominate the market and accounted for largest market share. Growing number of primary care settings in United States (U.S.) that employ POC products can fuel market growth. In addition, high prevalence of major market players offering products and services for primary care settings can also contribute well to growth of market. Rising focus on R&D in healthcare by universities and academia can stimulate market growth in the region. Moreover, introduction of advanced healthcare solutions such as telemedicine, digitalization, and electronic healthcare record (EHR) can spur market growth over next few years.
Similarly, Asia Pacific is likely to emerge as lucrative region and exhibit phenomenal growth rate during the forecast period. Rising number of firms engaged in capitalizing untapped opportunities in the region can fuel growth. In addition, growing awareness among population regarding importance of timely diagnostics of chronic diseases to increase survival rate can influence market growth over the forecast period.
Some of the leading companies offering primary care POC diagnostics are Abbott Laboratories, Roche Diagnostics, Instrumentation Laboratory, BD Biosciences, and Danaher Corporation. Companies are likely to adopt business strategies such as development of innovative products and mergers & acquisitions to expand their product portfolio and gain competitive edge over other market players.
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