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(IT-NEWSWIRE.COM, April 02, 2018 )
Global Point of Care Diagnostics Market :Diagnostic tests which are carried outside the laboratory is known as point of care (POC) diagnostics. These tests can be performed by laboratory persons or self-diagnosis which helps to achieve the clinical decisions. Point of care diagnostics can be carried near the patient bedside or at homecare. Nowadays, the majority of the clinical conditions such as diabetes, hypertension, various blood tests, and pregnancy tests are performed by using the point of care diagnostic devices. The major advantages of point of care diagnostics include the ease of testing procedure and results can be obtained within a short time.
Increase in the prevalence of chronic diseases such as diabetes, hypertension, cancer, and infectious diseases, a rise in the awareness of point of care testing, ease of testing procedures and rapid results, and technological advancements such as handheld devices are anticipated to fuel the growth of Global Point of Care Diagnostics Market. Moreover, increase in the R&D for innovation of newer products, a rise in healthcare expenditure, and availability of wider products in the market might propel the point of care diagnostics market over the forecast period. However, stringent regulatory policies for the product approvals, lack of reimbursement policies for several home care diagnostics, product recall, and lack of awareness about the point of care testing in the underdeveloped regions might dampen the point of care diagnostics market.
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Point of care diagnostics market is segmented on the basis of product type, prescription mode, and end user
Based on the product type, point of care diagnostics market segmented into the following:
Infectious Disease Testing Kits
Cancer/Tumour Markers Testing
Cardio-Metabolic Monitoring Kits
Fertility and Pregnancy Testing Kits
Haematological Testing Kits
Faecal Occult Testing Kits
Glucose Monitoring Kits
Cholesterol Test Strips
Urinalysis Testing Kits
Others
Based on the prescription mode, point of care diagnostics market segmented into the following:
Over-the-counter (OTC) Testing Kits
Prescription-based Testing Kits
Based on the end user, point of care diagnostics market segmented into the following:
Hospitals
Diagnostic centres
Homecare
Others
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Point of care diagnostics market is growing at a significant CAGR owing to increase in technological advancements in the innovation of novel devices. Increase in the prevalence of chronic diseases such as diabetes, hypertension, cancer, and other infectious diseases (according to World Health Organisation, global health observatory (GHO) data, in 2013, approximately 34-38 million people suffered from HIV infection) are boosting the point of care diagnostics market. Acquisitions and mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for increasing their revenue share in global point of care diagnostics market. For instance, in July 2016, Sinocare has acquired PTS diagnostics for diversification of product portfolio. Similarly, in November 2016, Siemens Healthineers entered at the point of care diagnostics market by acquiring Conworx Technology.
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Geographically, global point of care diagnostics market segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. North America point of care diagnostics market accounted for major share in 2016 and anticipated dominate over the forecast periods owing to increase in the prevalence of chronic and infectious diseases especially in U.S. (according to UNAIDS, in 2012, about 1.3Mn patients were diagnosed with HIV within the U.S.), rise in technological advancements, and increase in the healthcare expenditure in the region. Europe point of care diagnostics market is exhibiting significant growth, which is attributed to increase in the prevalence of chronic diseases such as diabetes and cancer due to change in lifestyle, rise in awareness among key stakeholders about the point of care devices. However, growing population dynamics in Asia Pacific regions majorly in India and China and increase in diabetic patients (according to the International Diabetes Federation (IDF), in India about 87 Mn population and in China about 62.6 Mn population are expected to suffer from diabetes mellitus by 2030), rise in healthcare expenditure, and increase in R&D investments in Japan expected to propel the point of care diagnostics market over the forecast period in the Asia-Pacific region.
Some of the players in point of care diagnostics market are Siemens AG (Germany), Abbott Laboratories, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Becton, Dickinson and Company (U.S.), Mologic Ltd (U.K.), Johnson & Johnson Services Inc. (U.S.), Sinocare, Inc. (China), Roche Diagnostics (U.S.), Nova Biomedical (U.S.), and Instrumentation Laboratory (U.S.) to name a few.
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