Providing faster results and helping to improve patient management, point-of-care (POC) testing is becoming a crucial component of healthcare both in and out of the clinical setting. Leading business information portal Visiongain forecasts that the global POC diagnostics market will reach $17.2bn in 2014 with revenues showing strong growth to 2024. The report titled “The Point of Care Diagnostics Market Forecast 2014-2024: Prospects for Leading Companies” published in April 2014, assesses data, trends, opportunities and prospects in the POC market and shows the potential revenues to 2024.
The report provides revenue forecasts to 2024 for each of the POC diagnostic segments and the leading national and regional markets. The diagnostics segments show sales forecasts for the blood glucose testing market, the infectious diseases testing market, the rapid coagulation testing market, the rapid cardiac marker testing market, the cholesterol testing market, the pregnancy testing market, and more.
According to the report, the issues that will affect the POC market are as follows:
- A continually growing patient population with chronic diseases
- Spread of infectious diseases on a global level and associated public health concerns
- Increasing demand for better monitoring and control of diseases
- Telehealth and remote communications with diagnostic laboratories
- Global focus on personalized medicine
Advancements in point-of-care testing are expected to expand the range of diagnostics for potential new disease monitoring applications and to also provide solutions to manage the increasing global epidemic of chronic and acute diseases. The report states that the POC diagnostics market will be driven by the preference for home testing and its convenience. Testing advancements mentioned include continuous blood monitoring systems and phone-based POC Systems as well as innovative POC products such as Alere’s Determine HIV-1/2 Ag/Ab Combo test, Alere Heart Check platform, the Roche CoaguChek XS System and cobas h232 cardiac marker, i-STAT from Abbott Diagnostics, Siemen’s Stratus® CS Analyzer and the Sysmex® CS-5100 System.
The US currently leads the regional market. Visiongain predicts that with the rapid commercialization of next-generation research, emerging economies in the Asia-Pacific region (especially countries like China, India and South Korea) will come close to Europe’s market position by 2024.