+8.4% CAGR to Be Achieved by Global Point-of-Care Testing Market Professional Survey by Booming Types, Trend & Analysis and Forecast to 2024| Roche Holding AG, Siemens, Abbott Laboratories, Becton Dickinson, Johnson & Johnson

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Some of the major factors driving the market for Point-Of-Care Testing Market, such as increasing geriatric population, increase in infectious diseases (hepatitis, HIV infection, influenza, respiratory infections and others), technological advancements, introduction of home-based point of care devices, and rapid economic development in the emerging economies. These factors such as increased awareness among the population, ease of use, rapid test, right dosage to the right place, and enhanced patient compliance are also driving the growth for the point-of-care testing market.

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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. 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.

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.

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.

Recent Developments:

The demand for point-of-care testing (POCT) is growing due to the value-shift in healthcare and increasing technological advancements. Also, the rising prevalence of lifestyle and infectious diseases, early detection of diseases, and management of multiple chronic conditions is fueling the growth of the market. Some of the other factors contributing to the growth of the market are Private investments and venture funding, new product development and government support, increasing adoption of POC devices, and miniaturization of devices. On the other hand, factors such as pricing pressure, low reimbursement, and XX are restraining the growth of the market.

Factors such as emerging market, growing patient pool, rising number of partnerships and joint ventures, and rising initiatives by the market players will contribute to the growth of the market in future. Also, the current focus of the companies on the development of devices for diagnosis and treatment of cancer, stroke, and cardiac patients will drive the market in future. To compete with other POCT companies in the future, POCT companies will need to employ a different set of digital strategies and connectivity solutions.

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Growing Geriatric Population : Global Point-of-Care Testing Market

Improved economic growth, better healthcare, and growthin access to education have led to longer life expectancy in most socio-economic groups. Due to growing geriatric population, the cases of acute and chronic diseases are rising. Older population is more prone to diseases such as diabetes, infections, cardiometabolic risks and cancer. The normal aging process causes a variety of physical and emotional issues that can be difficult for both the geriatric patient and healthcare worker to understand their needs and be sensitive in their treatment

Advancement In Technology : Global Point-of-Care Testing Market

POCT technologies are evolving, and this market segment is growing at a rapid pace. The use of POCT has evolved further since 2013, with high range of professional and self-monitoring tests into the ambulatory setting with a patient centric focus.. The need to improve patient safety and outcomes through rapid testing with trustworthy and actionable results at the point of care has provided significant benefits, including the ability to provide immediate and appropriate medical intervention. A continuous effort and progress has been made by manufacturers to create products with newer, advanced technologies with reduced sample volume or less blood on portable devices

Decentralized Laboratory Testing : Global Point-of-Care Testing Market

For decentralized lab testing, there are two drivers i.e., need for better drug monitoring for diseases like cancer and increasing virulence of infectious diseases. Molecular testing for hospital acquired infections has risen over the last several years so as to reduce cost and length of stay (LOS). Most of the molecular diagnostic tests are carried out in large reference lab or in CLIA-accredited labs but due to more availability of molecular diagnostic tests (specifically for conditions giving a quick result) decentralized labs ora push towards decentralized testing and near-patient settings are seen as a feasible and growing market

Increased Incidence of Chronic Diseases : Global Point-of-Care Testing Market

Cardiovascular diseases (CVD), various respiratory and infectious diseases continue to be the main cause of mortality representing about 30% of all deaths worldwide. Chronic diseases like hypertension, diabetes mellitus, and obesity are at the major risk factors for the occurrence of CVD. With the fast economic development and increasing westernization of lifestyle in the last few decades has lead to the increase in the prevalence rate of these diseases enormously driving the demand for point-of-care diagnostic market in the coming years

Laboratory Staff Shortages : Global Point-of-Care Testing Market

Laboratory staff shortages or lack of skilled tec hnicians is another factor driving the development of POC test especially in the field of medical diagnostics, unavailability of skilled staff is increasing and due to this reason there is an increase in the level of automation and self-contained systems that involves negligible user interaction. Therefore, this shortage of skilled staff will accelerate the market penetration rates of POC diagnostic products. Another factor for growth in the point of care market will be driven by elderly patient’s preference for home monitoring and government initiatives aimed at increasing the adoption of point-of-care testing to cut costs.

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Key questions answered in this report

1. What will be the market size in 2024 and what will the growth rate?

2. What are the key market trends?

3. What is driving this market?

4. What are the challenges to market growth?

5. Who are the key vendors in this market space?

TABLE OF CONTENTS

1. 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

2. 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

3. MARKET OVERVIEW

3.1. DRIVERS
3.1.1. GROWING GERIATRIC POPULATION
3.1.2. ADVANCEMENT IN TECHNOLOGY
3.1.3. DECENTRALIZED LABORATORY TESTING
3.2. RESTRAINTS
3.2.1. UNFAVOURABLE REIMBURSEMENT SCENARIO
3.2.2. ECONOMIC COST
3.3. OPPORTUNITIES
3.3.1. EMERGING MICROFLUIDIC LAB-ON-A-CHIP TECHNOLOGY
3.3.2. EMERGING MARKETS
3.3.3. UNMET MEDICAL NEEDS
3.4. CHALLENGES
3.4.1. LACK OF ACCURACY AND EFFICIENCY
3.4.2. DATA MANAGEMENT AND LACK OF CONNECTIVITY
3.4.3. TESTING PERFORMED BY NON-LABORATORY PERSONNEL AND LACK OF AWARENESS AMONG THE USERS

4. EXECUTIVE SUMMARY

5. PREMIUM INSIGHTS

6. GLOBAL POINT-OF-CARE TESTING MARKET: REGULATORY SCENARIO
6.1. OVERVIEW:
6.1.1. REGULATORY PROCEDURE

7. GLOBAL POINT-OF-CARE TESTING MARKET: REIMBURSEMENT SCENARIO
7.1. OVERVIEW

8. GLOBAL POINT-OF-CARE TESTING MARKET, BY PRODUCT TYPE
8.1. OVERVIEW
8.2. CARDIOMETABOLIC MONITORING KITS
8.2.1. CARDIAC MARKERS
8.2.2. BLOOD GAS ELECTROLYTE TESTING KITS
8.2.3. HBA1C TESTING KITS
8.2.4. LIPID TESTING KITS

9. COMPANY PROFILES

10. RELATED REPORTS

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