Point of care diagnostics is performed outside the laboratory where the patient is receiving care. Point of care diagnostics accomplished by non-laboratory persons and the results are used for medical decision making.
The global point of care diagnostics market reached USD 15.6 billion in the year 2014 and it is expected to reach USD 29.5 billion at the end of 2021, registering a compound annual growth rate (CAGR) of 9.2%.
On the basis of technology, the global point of care diagnostics market is segmented into:
Dividing on the basis of type, global point of care diagnostics market can be segregated into:
By Product Type
On the basis of product type the global point of care diagnostics market can be divided into:
By End User
On the basis of end user the global point of care diagnostics market is segmented into:
On the basis of region the global point of care diagnostics market is segmented into:
Growth Drivers and challenges
Rising in the infectious diseases across the world, increasing diseases like respiratory, hormonal imbalances, diabetes, inclination towards home-based primary care & diagnostic preferences and rising consumption of home based point of care devices are the major fsactors which are projected to drive the global point of care diagnostics market in the coming six year.
Technological advancement in healthcare sector is yet another factor which is projected to pull the demand of global point of care diagnostics market in the forecasted year.
Disinclination from the industry concerning the stringent regulatory framework, existing norms, product recalls and unfavorable repayment consequence are the major challenges restraining the growth of global point of care diagnostics market.
Market Size and Forecast
North America point of care diagnostics market accounted 45% of the global revenue in the year 2015. The market in the region is likely to get propelled from the introduction of federal guiding principle for the diagnostics tests and occurrence of reimbursement outline. North America point of care diagnostic market is anticipated to showcase a modest growth in the forecasted years.
In North America, the United States account 47% of the total point of care diagnostics market at present and is expected to continue its dominance in near future in the region.
Escalated spending in the healthcare sector can be a factor which raises the demand of point of care diagnostics market in Europe.
Asia-Pacific point of care diagnostics market is expected to rise at a fair rate from 2015 to 2021 and it is anticipated to reach USD 5,965 million in the year 2021.
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