The latest Industry report published by Credence Research, Inc. “Global Point-of-Care Diagnostics / Testing (POCT) Industry – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” the point-of-care diagnostics / testing Industry was valued at USD 15,743.6 Mn in 2015, and is expected to reach USD 27,507.2 Mn by 2022, expanding at a CAGR of 8.1% from 2016 to 2022.
Point-of-care tests (POCT) are the type of diagnostic tests performed outside the central laboratory or decentralized testing. The technological evolution in the field of diagnostics including introduction of portable and handheld instruments has resulted in the shift of POC testing from the hospitals to several medical environments including the workplace, home, disaster care and convenience clinics. POC diagnostics offers high potential for diagnosis and treatment of patients, as it assists rapid availability of test results and hence, earlier clinical decision making and intervention. The factors aiding the growth of POC testing Industry are mounting disease incidence, rising public awareness related to diagnosis of infectious diseases, growing focus towards personalization of care and constant integration of technology into healthcare. POC testing is becoming one of the integral parts of diagnosis and monitoring patient care Industry. Novel technologies are enabling POC devices to generate quantitative lab-quality test results that can be transferred to a central information system, remote caregiver service for consultation or electronic medical record database.
Browse the full report Point-of-Care Diagnostics / Testing (POCT) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report athttp://www.credenceresearch.com/report/point-of-care-diagnostics-or-testing-market
Industry Competition Assessment:
The point-of-care diagnostics or testing Industry is observed as the most diversified and competitive Industry comprising large number of players. The Industry observed one of the highest rates of merger and acquisition activity leading to investments in novel technologies as companies with strong capital back-up enter the sector. The Industry is dominated by several players, depending on their major competencies. The key players in this Industry are Roche Diagnostics Ltd., Abbott Laboratories, Alere Inc., Siemens AG, and Beckman Coulter, Inc.
Key Industry Movements:
High prevalence of infectious diseases and rising incidences of lifestyle diseases in developing countries
Rising usage of home-based POC testing devices is improving patient complianc
Increasing private investments and venture funding along with growing government support in development of new products and adoption of current POC devices is assisting the Industry growth
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