Point of Care Testing Market Assessment Covering Growth Factors and Upcoming Trends

Author : univdatos
Publish Date : 2021-06-04 17:14:40
Point of Care Testing Market Assessment Covering Growth Factors and Upcoming Trends

Research report presented by UnivDatos, Emphasis on Product (Blood Glucose Monitoring Test, Pregnancy & Fertility Testing, Infectious Disease Testing, Cardiac Markers, Anticoagulant Management, Others), Prescription (Near the Patient Testing (NPT), Over the Counter (OCT) /Patient Self-Testing (PST)), End-User (Hospitals, Clinics & Laboratory, Home Setting, Other Health Facilities) and Geographical analysis (key regions and countries).

As per the research report, Global Point-of-Care Testing Market (POCT) was valued at US$ 20.42 billion in 2018 and is anticipated to reach US$ 29.27 billion by 2025 displaying a reasonable CAGR of 5.33% over the forecast period (2019-2025). Emerging technology advances in healthcare, such as lab-on-a-chip, mobile applications, biosensors, and connected devices that have a closer access to the patient point-of-care (POC), are quickly becoming a part of the healthcare environment transition. Point-of-Care Treatment (POCT) is based on the idea of bringing research closer to the patient. Since lightweight, compact POCT instruments make research possible in remote environments, such as underserved communities, rural areas, and locations with insufficient resources or manpower, such as earthquake, accident, or military bases, POCT provides greater flexibility to address a wide variety of medical needs. Due to factors such as an ageing population and age-related illnesses, as well as technical advances, the demand for POCT is expected to expand significantly. Furthermore, the advancement of condition-specific markers and measures, as well as the importance of companion diagnostics, will propel this industry further. Companion diagnostics' growing importance, as well as investments in unifying technologies, will propel the market forward and become a new standard. However, the main obstacles will be strict federal legislation, unfavourable payout plans for POCT, and the chance of mistakes, all of which will be minor.

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The rising prevalence of chronic diseases, along with the the geriatric (elderly) population, is the primary driver of POCT service adoption. Chronic treatment is becoming more expensive, putting a strain on health-care services. Chronic diseases are one of the most common and expensive health problems in the United States. Nearly half of all Americans (approximately 45 percent, or 133 million) have at least one chronic illness, and the number is rising. Cancer, diabetes, asthma, stroke, coronary disease, respiratory disorders, asthma, obesity, and oral diseases are only a few of the chronic illnesses that can lead to hospitalisation, long-term injury, lowered quality of life, and death. In particular, chronic illnesses are the leading cause of death and injury in the United States.

“Amongst POCT product type, blood glucose testing products dominated the market accounting for 75.1% share in 2018”

The market is segmented into Blood Glucose Monitoring Test, Pregnancy & Fertility Testing, Infectious Disease Testing, Cardiac Markers, Anticoagulant Management, and Others based on POCT product. Blood Glucose Monitoring Tests led the industry in 2018 and are projected to continue to do so in the estimated timeframe of 2019-2025. During the study era, however, Infectious Disease Testing materials are predicted to have the highest CAGR.

“Over the Counter/Patient Self-Testing (OTC/PST) dominated the market in 2018”

The global POCT market is divided into two categories based on medication type: Near the Patient (NPT) and Over the Counter (OTC) /Patient Self-Testing (PST). Over-the-Counter/Patient Self-Testing (OTC/PST) has the highest market share in 2018 and is projected to continue to do so in 2019-2025. Individuals' lack of time, combined with increased disposable income and technical innovation, would be the primary drivers of segment development.

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“Hospitals were the major end-user of POCT technology. The segment held 47.7% share in 2018”

Hospitals, Clinics & Labs, Home Environments, and Others are the main end-users in the global POCT industry, according to the survey. The highest revenue-generating market for technology in 2018 was hospitals. However, the elderly populations and related diseases are projected to fuel increased use of POCT for home use, with the category experiencing the fastest CAGR growth of 6.09 percent from 2019 to 2025.

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“North America represents the largest markets for POCT technology globally in 2018, followed by Asia-Pacific and Europe”

A quantitative study of the total penetration of POCT technologies was performed for major regions/countries such as North America (US, Canada), Europe (Germany, France, Spain, Italy, UK), Asia-Pacific (China, India, Japan, Australia), and the Rest of the World. North America led the industry in 2018, accounting for half of it. However, due to the elderly demographics, especially in Japan and China, Asia-Pacific will become one of the largest markets for the technology in the coming years.

Customization Options:

The Global Point-of-Care Testing Market can be customized to the country level or any other application. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global POCT Market can be customized to the country level or any other market segment.



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