A report from Progressive Markets says that the global point-of-care diagnostic market is expected to grow at a CAGR of 9.4% from 2017 to 2025. Point-of-care (POC) or bedside testing is now much easier with reliable point-of-care diagnostic devices available in the market. Advanced devices such as point-of-care drug test cups and handheld analyzers can be used in doctors' offices, hospitals and clinical laboratories, providing better patient management and ensuring optimized clinical outcomes. Such products can also be used at home for faster diagnosis.
According to the report, key factors driving market growth include:
- Technological advancements of point-of-care diagnostics
- Rising incidence of chronic diseases
- Increase in awareness about early diagnosis of diseases
- Increase in demand for home-based diagnostic methods
- Rise in investment by the government for the modernization and advancement of the healthcare reforms
However, pricing pressure is expected to restrain the market as POC devices are quite costly. The end-users of this market are professional diagnostic centers, research laboratories, and home care among others.
Based on product type, the market is divided into Glucose Monitoring Kits, Cardio-metabolic Monitoring Kits, Infectious Diseases Testing Kits, Coagulation Monitoring Kits, Pregnancy and Fertility Testing Kits, Tumor/Cancer Markers, Urinalysis Testing Kits, Cholesterol Test Strips, Hematology Testing Kits, Drugs of Abuse Testing Kits, Fecal Occult Testing Kits, and Others. According to prescription mode, the market is divided into prescription-based testing kits and over-the-counter testing kits.
Geographically, North America dominates the market, followed by Europe, Asia-Pacific, and LAMEA. The top manufacturers in the global point-of-care diagnostics market include Roche Diagnostics Limited, Abbott Laboratories, Inc., Siemens AG, Becton, Alere Inc., Dickinson and Company, Beckman Coulter, Inc., Johnson & Johnson, PTS Diagnostics, and Nova Biomedical.