IQ4I Research published a new report “Point Of Care Diagnostics Global Market–Forecast To 2023”

Point of care tests or near-patient testing is performance at the site where the patient is located this helps in obtaining accurate results in less time.

Online PR News – 02-June-2017 – Boston, Massachusetts – Point of care Diagnostics/testing (POCD/POCT) is defined as the medical diagnostics which are performed outside the clinical laboratory at or near the site of patient care in order to improve the therapeutic Turnaround time (TTAT) and effectiveness of lab testing. POCD is also called as near-patient testing, remote testing, self-testing and rapid diagnostics.

According to IQ4I analysis, the point of care diagnostics global market expected to grow at a CAGR of mid single digit to reach $26,331.1 million by 2023. The rapid rise in aging population, high prevalence of infectious and lifestyle related diseases, lack of skilled laboratory technicians in emerging countries, rising number of CLIA-Waived POC tests, rising awareness about point of care diagnostics in developing countries and advancements of technologies are driving the growth of point of care diagnostics global market.

The Point of care diagnostics market is segmented based on their products, technology, prescription mode, sample types, end-users, and geography. The products segment is further segmented into glucose monitoring kits, infectious diseases testing kits, coagulation monitoring kits, hematology testing kits, pregnancy and fertility testing kits, cardiometabolic testing kits, tumor/cancer markers, urinalysis kits, cholesterol testing kits, drugs-of-abuse testing kits and others. Glucose monitoring kits segment accounted largest share, due to technological advancements, increasing awareness, etc.

Based on technology, the POCD market is segmented into Biosensor technology, microfluidics/lab-on-a-chip technology, PCR technology, Immunochromatographic/lateral flow technology and others. Biosensor technology accounts the largest share, due to miniaturization of device and fast turn-around time for analysis.

The prescription mode is segmented into prescription based tests and over the counter based tests, in which over the counter segment holds the largest share, due to their cost-effective, quick, and confidential nature.Sample type is segmented into blood, urine, saliva and others. Among theses, blood sample accounted for the largest share compared to other body fluids.

Based on the end-users type, the market is segmented into Hospitals, home healthcare, clinics, and others. Home healthcare segment occupied the largest share due to its effective, quick, increasing awareness, etc.

Based on geography the Point of care diagnostics global market is divided into North America, Europe, Asia-Pacific and Rest of the world. North America region commanded the largest market share. However, Asia- Pacific region is expected to grow at the highest due to rising awareness, higher economic growth, large patient pool and rising aged population.

The POCD market is consolidated because the majority of Point of care diagnostics market is occupied by large players such as Abbott laboratories Inc., F. Hoffmann-La Roche AG, and Danaher Corporation.

Major players in point of care diagnostics market are Abbott Laboratories, Inc. (U.S.), Becton Dickinson and company (U.S.), Biomerieux (France), Danaher Corporation (U.S.), Johnson & Johnson (J&J), (U.S.), Medtronic plc (Ireland), Nova Biomedical (U.S.), F. Hoffmann-La Roche AG (Switzerland), Siemens AG (Germany), ThermoFisher Scientific, Inc. (U.S.), Ascensia diabetes care holdings AG (Switzerland) and Dexcom Inc. (U.S.), etc.