Global Point of Care Testing Market 2020 Opportunities with Industry Size, Competitor Analysis and Regional Demand||Siemens AG, Beckman Coulter, Inc., BD , Johnson & Johnson Services, Inc., Instrumentation Laboratory

GLOBAL POINT OF CARE TESTING MARKET is expected to reach USD 41.7 billion by 2026, growing at a substantial CAGR of 8.4% in the forecast period 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Gaining valuable market insights with the new skills, latest tools and innovative programs is sure to help business achieve business goals. This Point of Care Testing market research report is a proven and consistent source of information which gives telescopic view of the existing market trends, emerging products, situations and opportunities that drives business towards the success. Market segmentation studies conducted in this report with respect to product type, applications, and geography are valuable in taking any verdict about the products. A reliable Point of Care Testing market report also provides company profiles and contact information of the key market players in the key manufacturer’s section.
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Some of the key players profiled in the report are Abbott, F. Hoffmann-La Roche Ltd, Siemens AG, Beckman Coulter, Inc., BD , Johnson & Johnson Services, Inc., Instrumentation Laboratory, PTS Diagnostics, Abaxis, Medtronic, Accriva Diagnostics, Opti Medical, Sienco, Inc., Alpha Scientific Electronics, AccuBioTech Co., Ltd., ACON Laboratories, Inc., Acrongenomics Inc., bioMrieux SA, Biomerica, Inc., Binx Health, Inc., Alfa Scientific Designs, Inc., Bio-Rad Laboratories, Inc., Medica Corporation, Nova Biomedical and others.

Segmentation: Global Point of Care Testing Market

By Product

(Blood Glucose Testing Kits, Cardiometabolic Monitoring Kits, Infectious Disease Testing Kits, Cholesterol Testing Kits, Pregnancy & Fertility Tests Kits, Tumor/Cancer Markers, Urinalysis Testing Kits, Cholesterol Test Strips, Hematology Testing Kits, Drugs Of Abuse Testing Kits, Fecal Occult Testing Kits, Rapid Coagulation Testing Kits & Others),

Prescription Mode

(Prescription Based Testing & Over-The-Counter Testing),

Distribution Channel

(Direct Tenders & Retail),

End User

(Hospital, Clinics, Ambulatory Care, Home Healthcare, & Research Laboratory),

Geography

(North America, Europe, Asia-Pacific, South America, Middle East and Africa)

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Increased Incidence of Chronic Diseases : Global Point-of-Care Testing Market

Cardiovascular diseases (CVD), various respiratory and infectious diseases continue to be the main cause of mortality representing about 30% of all deaths worldwide. Chronic diseases like hypertension, diabetes mellitus, and obesity are at the major risk factors for the occurrence of CVD. With the fast economic development and increasing westernization of lifestyle in the last few decades has lead to the increase in the prevalence rate of these diseases enormously driving the demand for point-of-care diagnostic market in the coming years

Laboratory Staff Shortages : Global Point-of-Care Testing Market

Laboratory staff shortages or lack of skilled tec hnicians is another factor driving the development of POC test especially in the field of medical diagnostics, unavailability of skilled staff is increasing and due to this reason there is an increase in the level of automation and self-contained systems that involves negligible user interaction. Therefore, this shortage of skilled staff will accelerate the market penetration rates of POC diagnostic products. Another factor for growth in the point of care market will be driven by elderly patient’s preference for home monitoring and government initiatives aimed at increasing the adoption of point-of-care testing to cut costs.

Market Drivers: Global Point-of-Care Testing Market

  • Growing Geriatric Population
  • Advancement In Technology
  • Decentralized Laboratory Testing
  • Increased Incidence of Chronic Diseases
  • Laboratory Staff Shortages

Market Restraints

High cost for point of care testing devices

Product recalls and reluctance from the industry towards changing the existing norms

Key Developments in the Market:

In August 2018, AACC launched a certification program for point-of-care testing (POCT) for professionals; who perform diagnostic testing outside central laboratory. People how are eligible for criteria and pass an online test, proctored exam will receive the designation, of Certified Point-of-Care Testing Professional (CPP).

In February 2016, Abbott To Acquire Alere, which will become leader in point of care testing Abbott gains leadership in USD 5.5 billion point of care segment, the, main advantage of this Acquisition is it will provide access to new product applications, channels and geographies.

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Point-of-Care Testing Market Development

Abbott announced the launch of their new point of care testing Afinion HbA1c Dx assay in June 2019 which can be used on Afinion AS100 Analyzer and Afinion 2 Analyzer. This is the first POCT testing which has received approval from FDA for diabetes diagnosis and patient risk assessment of the condition.

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