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Global point-of-care diagnostics market predicted to be worth $18.7B by 2020

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A new report by Grand View Research, Inc. indicates that the point-of-care diagnostics market will likely reach $18.7 billion by 2020.

According to a release:

Rising prevalence of chronic disorders and infectious diseases, which need portable and rapid diagnosis, is anticipated to boost this technology growth. Introduction of advanced diagnostic techniques such as utilization of efficient algorithms for diagnosis with specificity and sensitivity in order to aid prognosis by providing precise view of disease progression is expected to fuel this sector growth in the next six years.

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The blood testing segment has recently been a key contributor to the market, especially with handheld glucose monitoring devices. Infectious diseases, including HIV/AIDS, tuberculosis, hepatitis, and HPV, will be a growing focus for POC moving forward.

As the report indicated:

North America was observed to be the dominant region for POC diagnostics industry accounting for over 40% of the global revenue in 2013 owing to the presence of encouraging reimbursement frameworks and the introduction of federal guidelines for diagnostics tests.

Asia Pacific POC diagnostics sector is expected to grow at a lucrative rate from 2014 to 2020 and its market is estimated to reach over USD 5,300 million in 2020. Presence of high unmet medical needs, rise in disposable income, and improvement in healthcare infrastructure in emerging economies of this region are the factors that are expected to drive growth in this region.

The report by Grand View Research was segmented based on this basis of product, end-user and region:

  • Point of Care Diagnostics Product Outlook
    • Blood Gas/Electrolytes (Centralized and Decentralized)
    • Infectious Diseases
    • Hospital Glucose Testing
    • Cardiac Markers
    • Hematology
    • Coagulation
    • Primary Care Systems (Lipid Profiling and HbA1c Tests)
    • Decentralized Clinical Chemistry
    • Urinalysis
    • Drug Abuse Testing
    • Fertility
    • OTC and Rapid Diagnostic Tests
  • Point of Care Diagnostics End User Outlook
    • Hospitals
    • Assisted Living Healthcare Facilities
    • Laboratories
    • Home
    • Clinics
    • Others
  • Point of Care Diagnostics Regional Outlook
    • North America
    • Europe
    • Asia Pacific
    • RoW

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