Point of Care Diagnostic Devices Market Growth to Stand At 10.65% CAGR Through 2020
Point-of-Care (POC) testing is an immediate testing service performed within close proximity of the patient. Global POC diagnostic devices market has been classified into three segments
The Point of Care Diagnostic Devices Market deals with the development, manufacture and distribution of POC diagnostics as well as tests like the POC glucose test. POC testing can be described as a mode of medical testing that take place in close proximity to or at the point of care. Here, point of care solutions mean the location or time at which a patient is being cared for. Until recently, diagnostics and testing used to take place within the confines of a laboratory or at least at a distance from the patient.
The Point of Care Diagnostic Devices Market has changed the game because earlier, a medical sample had to be sent away from the patient for hours, sometimes for days, before the results were known. During this delay, the patient has to be treated without the necessary information.
Scope & Regional Forecast of the Point of Care Diagnostic Devices Market
The POC diagnostics developed by the Point of Care Diagnostic Devices Market are essentially simple and can be conducted at the bedside of the patient. While developing tests for certain diseases was relatively easy, making sure that the point of care technology was portable enough to be transported to a bedside was a real challenge that the point of care companies could overcome only recently.
The Point of Care Diagnostic Devices Market is currently dominated by demand for the POC glucose test as point of care solutions are being increasingly preferred for treating diabetes. Point of care devices and other supporting point of care systems can also help in the testing of cancer, pregnancy, urine, blood coagulation, drugs abuse, cholesterol, etc. Point of care companies are currently investing a huge amount in R&D to make sure that point of care technology can test an extensive range of diseases.
The Point of Care Diagnostic Devices Market is expected to grow at 10.65% CAGR till 2020 with a potential global revenue of $34 billion. While the North America region has cornered the largest share, Asia-Pacific is predicted to exhibit the highest CAGR of 11.95% till 2020.
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Segmentations & Key Players involved in the Point of Care Diagnostic Devices Market
According to IndustryARC findings, the Point of Care Diagnostic Devices Market can be broken down into various segmentations on the basis of –
Application: Patient Self-Testing, Clinics, Hospitals and Laboratories.
End User: Diabetic testing, Infectious Diseases, Coagulation, Urinalysis, Haematology, Cholesterol Testing, Drug of Abuse Testing, Cardiac Markers, Blood Gas/Electrolytes, Tumor/ Cancer Markers, Fertility and Others.
Technology: Miniaturization and Microfluidics Technology, Molecular Diagnostics and Non-Invasive Technology.
Some of the key players involved in the Point of Care Diagnostic Devices Market according to IndustryARC are as follows:
· LifeScan Inc.
· Nipro Diagnostics
· Orasure Technologies
· PointCare Technologies
· Siemens HealthCare Diagnostics
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Point-of-Care (POC) testing is an immediate testing service performed within close proximity of the patient.
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Dec 09, 2016