Point-Of-Care Diagnostic Market Worth $27.5 Billion by 2018 - New Report by MarketsandMarkets
(PRWEB) April 21, 2014 -- The report “Point-Of-Care Diagnostic Market by Products (Glucose Monitoring & Infectious Diseases Testing Kits, Cardiac & Tumor Markers), by End Users (Self & Professional Monitoring), Over the Counter & Prescription Based - Global Forecast to 2018”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Asia-Pacific, Europe, and the Rest of the World.
Browse 198 market data tables and 48 figures spread through 452 pages and in-depth TOC on “Point-Of-Care Diagnostic Market"
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This report studies the global POC diagnostics market over the forecast period of 2013 to 2018. The market is poised to grow at a CAGR of 9.3% from 2013 to 2018, to reach $27.5 billion by 2018.
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The global POC diagnostics market is categorized into several segments such as infectious diseases testing kits, glucose monitoring kits, coagulation monitoring kits, urinalysis testing kits, hematology testing kits, cholesterol test strips, drugs of abuse testing kits, cardiac markers, blood gas/electrolytes testing kits, tumor/cancer markers, pregnancy and fertility testing kits, fecal occult testing kits, food pathogens testing kits, and others. In addition, based on the type of end users, the global POC diagnostics market has been segmented into patient professional monitoring kits and patient self-monitoring kits. Furthermore, based on the prescription mode, the global POC diagnostics market has been segmented into OTC and prescription-based POC diagnostics market.
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A number of factors such as increasing prevalence of infectious diseases in developing countries, rising incidences of lifestyle diseases such as cardiac diseases and diabetes, decreasing number of technicians in central labs, and technological advancements are stimulating the demand for POC testing. Evolution of new POC testing procedures and emerging markets such as China and India represent high growth opportunities for market players.
The global POC diagnostics market (excluding the blood glucose monitoring kits market) is dominated by Roche Diagnostics (Switzerland), Alere, Inc. (U.S.), Siemens AG (Germany), and Beckman Coulter, Inc. (U.S.). These four companies accounted for a share of ~72% of the global POC diagnostics market (excluding the blood glucose monitoring kits market) in 2012. Roche Diagnostics is the leader in the POC diagnostics market (excluding the blood glucose monitoring kits market) with a share of ~25% and is expected to lead the market in next five years as well. The company’s diagnostic portfolio includes 196 instruments, 4,046 different reagent kits, and 170 different types of consumables including pipettes and cuvettes. Roche has 26 manufacturing sites including 17 pharmaceuticals, seven diagnostic, and two joint sites. It has a large work force and as of 2013, employed ~28,961 people. The company’s wide range of product and service offerings coupled with its wide geographic presence enables it to maintain its leading position in the global POC diagnostics market. Furthermore, the company focuses on product innovations and new product launches as its key business strategy, to ensure its growth in the global POC diagnostics market.
As of 2013, North America (comprising the U.S., Canada, and Mexico) held the largest share of the global POC diagnostics market. This large share is primarily attributed to the huge and increasing addressable patient population base. Moreover, the development of accurate and rapid testing kits is further fueling the growth of the POC diagnostics market in North America. However, the Asia-Pacific POC diagnostics market is expected to witness the highest growth in the forecast period. A number of factors such as increasing funding/investment toward the development of POC products, growing focus of both international and domestic players on the Asia-Pacific POC diagnostics market, and large number of R&D activities are propelling the demand for POC testing products in the Asia-Pacific region.
The POC diagnostics market is a diversified and competitive market with a large number of players. The POC diagnostics market (excluding blood glucose monitoring kits) is dominated by various players, depending on their core competencies. The key players in this market are Roche Diagnostics Ltd. (Switzerland), Alere Inc. (U.S.), Siemens AG (Germany), and Beckman Coulter, Inc. (U.S.). The key players in the global blood glucose monitoring kits market are Roche Diagnostics Limited (Switzerland), Johnson & Johnson (U.S.), Bayer AG (Germany), and Abbott Laboratories (U.S.).
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