Point-of-care Diagnostic Products and Devices- Market Size and Forecast Analysis 2016-2020

Point-of-care diagnosis is performed at patient?s bed-side which usually is away from formal healthcare setting. For improving the outcome of medical care, it is extremely important for the physician to have more and more information about patient?s current status. Extended time lag for treatment initiation may also lead to serious complications. Point-of-care technologies have been vital in providing rapid test results, and reducing treatment time and cost. An important aspect of point-of-care diagnostic devices is that these devices are simple enough to be used by non-professionals, and under non-laboratory setting. These factors have positioned the point-of-care diagnostic products and devices as an indispensible part of emergency care services. As point-of-care devices do not require formal laboratory setting, and are easy to use, they are also widely used for at-home disease testing.

The global point-of-care diagnostic products and devices market can be broadly segmented as below:

Point-of-care products and devices, by indication:
Diabetes testing
Cardiac testing
Cancer testing
Infectious disease testing
Blood testing
Pregnancy testing
Others

Point-of-care products and devices, by prescription:
Over-the-counter products and devices
Prescription only products and devices

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Point-of-care technologies have touched almost every aspect of healthcare with applications in varied medical fields such as cancer, diabetes, cardiovascular disorders, infectious diseases, blood disorders, pregnancy and others. Due to its wide scope, large numbers of multinational companies are competing intensely in the global market place. In 2014, Becton Dickinson and Company strengthened its point-of-care business segment with the acquisition of Alverix. Roche acquired IQuum, Inc. to gain access to the patented Laboratory-in-a-tube (Liat) System. Later in 2016, a major deal in point-of-care market was signed by Abbott for acquisition of Alere, which would make the company a leading player in point-of-care testing market. Currently Alere is the leading players in cardiac and infectious testing segments in point-of-care market.

Rigorous research and development in the medical field has given vital insights to newer markers involved in complex biochemical pathways leading to serious disorders. This deeper understanding of disease progression, coupled with advanced electronic technology has resulted to evolution of point-of-care diagnostic devices. Rising disease prevalence and need for bed-side medical assistance are other factors driving the market.

Diabetes testing accounts for more than 55% share in the point-of-care diagnostic products and devices market. This segmented is also expected to grow at a rate of more than 8% in the near future. According to World Health Organization (WHO) over 422 million individuals were recorded having diabetes in 2014 globally.

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Abbott Laboratories, Inc,Roche Diagnostics Limited, Siemens AG, Beckman Coulter, Inc.,Becton, Dickinson and Company, Johnson & Johnson, Instrumentation Laboratory, PTS Diagnostics, and Nova Biomedical are some of the key players in the point-of-care diagnostic products and devices market.

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