PoC Platform & Technology Market Headed for Growth and Global Expansion by 2026 by Top Players - Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories, Siemens Healthineers, and LifeScan,

The point-of-care platforms and technologies have significantly contributed to the transformation of healthcare landscape by bringing rapid diagnosis and monitoring tests closer, and making it more convenient for healthcare providers and patients. The test results obtained by electronic health records (EHR) assists in quicker diagnosis leading to faster decision making and early treatment onset. The POC tests and devices help alleviate various pain points of hospital-based healthcare providers who are under constant pressure for delivering cost and time efficient care that enhances treatment outcomes of patients. These rapid POC tests address the issues of latency in test results by facilitating accurate evidence-based triage and diagnostic decisions within fraction of time when compared to the time taken by centralized laboratory tests.

The global POC platform & technology market was valued at US$ 21,370.3 Million in 2016 and is expected to exhibit a robust CAGR of 8.9% over the forecast period (2017 – 2025).

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Market Dynamics:

Increase in the prevalence of infectious diseases such as HIV, hepatitis, and vector borne diseases coupled with increasing awareness leading to early diagnosis of cancer and autoimmune diseases is a major factor propelling growth of POC platform & technology market. Moreover, the increasing usage of home-based point-of-care diagnosis has also significantly reduced the incidence of sexually transmitted diseases (STDs), as these tests provide quick detection of biomarkers leading to early diagnosis of diseases. These diseases, if treated at early stages can extend the life expectancy and can also completely cure the patients in few cases. According to the Centers of Disease Control and Prevention (CDC), in 2016, rapid home-based diagnostic tests that include point-of-care immunoassay and test strips as well as general awareness have collectively resulted in reducing the number of annual infections caused due to HIV by 10% from 2010 to 2014 and by 5% from 2011 to 2015. The increasing R&D activities by the organizations also aids in market growth. For instance, the Bill & Melinda Gates Foundation supported the development of Alere Malaria Ag Plasmodium falciparum HRP2 ELISA.

Increasing incidence of infectious and chronic diseases is expected to propel growth of the market

POC devices allow medical professionals to make decisions in patient’s vicinity, which results in significant healthcare delivery with faster results and immediate clinical management. The novel point-of-care tests (POCTs) offer diagnostic techniques for the prevention and treatment of infectious diseases such as HIV, Hepatitis B Virus, and chronic diseases such as diabetes, cancer, and cardiovascular disorders. According to the International Journal of Nanomedicine, in 2017, around 36.7 million people were affected by Human Immunodeficiency Virus (HIV) and around 400 million people were affected by viral hepatitis across the globe. The survey also stated that with no reliable treatment for HIV infection, early diagnosis is a critical factor in managing AIDS patients, as it is a major cause for morbidity and mortality globally. Furthermore, the point-of-care technologies have enabled efficient monitoring of heart rate, inflammation threats, and heart failure that can potentially avert complications, reduce economic burden, and improve patient care across diverse medical and home care settings. According to the American Heart Association, cardiovascular diseases account for 17.3 million deaths per year globally and by 2030, around 23.3 million people are expected to die from CVD.

Major players operating in the global POC platform & technology market include Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories, Siemens Healthineers, and LifeScan, Inc.

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Global POC Platform & Technology Market, By Technology:
- Lateral Flow Based Assays
- Enzyme Labels
- Microfluidics
- Biochips
- Biosensors
- Medical MEMS
- Agglutination
- Solid Phase
- Lab-on-a-chip
- Chemiluminescence Based Systems

Global POC Platform & Technology Market, By Application:
Diagnostic and Monitoring
Drug Development and Quality Testing

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This release was published on openPR.