Global Point of Care Testing Market Showing New Marks To Reach USD 35.3 Billion By 2024 With Industry Players Like Beckman Coulter, Siemens AG and Abbott, Becton, Dickinson and Many More

Global Point of Care Testing Market is expected to reach USD 35.3 billion by 2024 from USD 18.6 billion in 2016, growing at a CAGR of 8.4% in the forecast period 2017 to 2024. 

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The global point-of-care testing market is segmented on the basis of Product, Prescription Mode, Distribution Channel, End User, And Geography.

On the basis of product, the market is segmented into 13 major segments, which includes 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.

Based on prescription mode, the global 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 8.9% during the forecast period to reach a value of USD 12.8 billion by 2024.

On the basis of distribution channel, the market is segmented into direct tenders and retail. In 2017, the direct tender market is expected to dominate the market with a share of 64.0% in the forecast period 2017-2024.

On the basis of end users, the market is segmented into hospital, clinics, ambulatory care, home healthcare, and research laboratory. Hospital segment is further categorized into emergency department critical-care unit, general ward, and others (intensive care unit, neo-natal). Also, clinic is segmented into physicians’ clinic and diagnostic clinic.
 

The key market players for Global Point of Care Testing Market are listed below:

Siemens AG and Abbott Laboratories, Inc.,
Beckman Coulter, Inc.,
Becton, Dickinson and Company,
Johnson & Johnson,
Alere Inc.,
Instrumentation Laboratory,
PTS Diagnostics,
Abaxis, Inc.,
Medtronic,
Accriva Diagnostics,
OPTI Medical,
Sienco, Inc.,
Alpha Scientific,
AccuBioTech Co., Ltd.,
ACON Laboratories, Inc.,
Acrongenomics, Inc.,
bioMérieux SA,
Biomerica, Inc.,
Atlas Genetics Ltd.,
Alfa Scientific Designs, Inc.,
Bio-Rad Laboratories, Inc.,
Medica Corporation,
Nova Biomedica.
 

Europe Industry Segmentation

Europe POCT Device Market is expected to reach USD 11,682.54 billion by 2024 from USD 6,051.05 billion in 2016, at a CAGR of 8.6% in the forecast period 2017 to 2024. 

The major factors driving the growth of this market are the rising scope of POCT devices, advancement in technology, increasing incidence of chronic diseases, rising demand for self-testing point-of-care testing devices, decentralized laboratory testing, and technological advancements like microfluidic lab on a chip technology. These factors increase the demand for devices such as blood glucose meter, CRP, HBA1C, Homocystein. On the other hand, high costsare regulatory hurdles that may hinder the growth of the market.

The blood glucose testing kits segment is expected to dominate the market with a share of 26.2% and is expected to continue this trend till 2024.

The OTC testing is projected to witness higher growth rate of 9.2% during the forecast period to reach a value of USD 4,377.28 billion by 2024.

The direct tender market is expected to dominate the market with a value of USD 4.38 billion.

Hospital segment is expected to dominate with the market share of 32.8% and is expected to continue this trend till 2024.

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Asia-Pacific Industry Segmentation

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 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.

Over-the-counter testing market is growing with the highest CAGR.
Globally blood glucose testing kits are driving the market with the highest market share. However, cardiometabolic monitoring kit is growing with the highest CAGR.

Blood glucose testing kits are dominating the product type of APAC POCT device market.

Table Of Content

Introduction
1.1.         Objectives Of The Study

1.2.         Market Definition

1.3.         Overview Of Global Point-Of-Care Testing Market

1.4.         Currency And Pricing

1.5.         Limitation

1.6.         Markets Covered

Market Segmentation
2.1.         Markets Covered

2.2.         Geographic Scope

2.3.         Years Considered For The Study

2.4.         Currency And Pricing

2.5.         Research Methodology

2.6.         Primary Interviews With Key Opinion Leaders

2.7.         Secondary Sourc

2.8.         Assumptions

Market Overview
3.1.         Drivers

3.1.1.     Growing Geriatric Population

3.1.2.     Advancement In Technology

Continue…

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