The global Point of Care (POC) diagnostics market was valued at $18.54 Billion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $32.7 Billion.
Point of Care (POC) Diagnostics tests are achieved through transportable, portable, and handheld instruments and test kits. The overall goal is to collect the specimen and obtain the result close to the patient location so that treatment can be fast and accurate. We are observing the usage of Point of Care (POC) in home INR testing, accident scene blood gas/electrolyte, emergency department HIV testing. Clinical Laboratory Improvement Amendments (CLIA) will bring regulation and streamline usage of Point of Care (POC) Diagnostics tests. This will attribute to increased adoption of Point of Care (POC) Diagnostics tests.
Ease of waived testing requirements by both CLIA and Joint Commission and market attractiveness will drive Point of Care (POC) Diagnostics tests. Care process optimization, patient outcome, and disaster recovery are some of the factors will further drive the usage of Care (POC) Diagnostics tests.
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| Global Point of Care (POC) Diagnostics Market |
Pricing Analysis
“Optimal Price Point (OPP) for Point of Care (POC) Diagnostics Products”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the U.S., the Point of Care (POC) Diagnosticsproducts are available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Point of Care (POC) diagnostics market by “Diagnostic Type”
We have segmented thePoint of Care (POC) Diagnosticsmarket by diagnostic type into Glucose Monitoring, Infectious Disease, Pregnancy and Fertility, Hematology Testing, Cardiometabolic Monitoring, Coagulation Monitoring, Urinalysis Testing, Tumor Markers, Cholesterol Test Strips, Drugs Abuse Testing, Fecal Occult Testing. Some of the benefits of Point of Care (POC) Diagnostics will be Portability, convenience, speed, connectivity, sample quality and quality assurance. While selecting these kits, sample size need and time to run the test are deciding factor.
We are observing a greater adaptation of Point of Care (POC) Diagnostics for glucose monitoring, pregnancy and fertility. However, diagnostics for tumor markers, drugs abuse testing and hematology testing will be in demand during the forecast period.
We have segmented the Point of Care (POC) Diagnostics market by end use into Clinics, Hospitals, Home, Laboratories, Others. Maximum usage is in clinics followed by laboratories and hospitals. However, home usage will increase during the forecasting period. Now a lot of these devices are going digital with integration to the hospital or personal platforms with ease of access any time anywhere. E.g.- LifeScan, Inc. FDA approval for the integration betweenLifeScan’s OneTouch Verio Flex® Blood Glucose Monitoring System and WellDoc’s BlueStar® Diabetes Management Platform.
Regional Segmentation
North America accounted for the maximum revenue share of over xx% in 2017 due to increased patient number, lifestyle followed by availability of treatment options, better reimbursement plan, and RND. Followed by EU- Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
With changing lifestyle in developing countries and availability of treatment option, we are observing a rise in patient numbers in developing countries.
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