Point of Care Diagnostics Market to Reach $20.9bn in 2015

Tuesday 4 June 2013, Amsterdam

This report predicts that the global point of care coagulation testing market will be worth $1.8bn by 2017. The market generated $1.0bn in 2011, according to Point of Care Coagulation Testing: World Market 2013-2023, published in April 2013.

Point of care (POC) coagulation testing constitutes one of the fastest-growing markets in the POC diagnostics market. As the name suggests, POC diagnostics are diagnostic tests that are conducted at or near the site of patient care. The use of these tests can provide faster results, helping improve patient management. There are already a number of POC diagnostics in the market, with many more in development. There are some challenges to meet, and the opportunity for growth in this market is vast.

Rupali Vadhera, a healthcare industry analyst  says: “The point of care coagulation testing market will experience growth in the next 10 years, primarily due to the introduction of new devices and patient demand for rapid diagnostics. Improvement in technology and accuracy of the POC tests will also help drive growth in the coming years. The launch of new anticoagulant drugs, which do not require testing for coagulation, will restrain growth beyond 2017. However, growth will be driven by the increasing use of anticoagulant therapy and higher adoption of self-testing kits for use at home.

“For the past several years, four companies – Roche, International Technidyne Corporation (ITC), Abbott, and Alere – have dominated the POC PT/INR testing market. The devices currently available in the market are able to meet demand. However, there is need for improvement in technology to attract more physicians and patients to use this testing. Most of the testing for patients on anticoagulant warfarin is currently conducted in laboratories. Such patients need regular monitoring. The use of POC tests can help save a lot of time and money spent on unwanted complications arising from the use of the drug without monitoring”.

This report predicts the POC coagulation testing market will grow steadily to 2023. The future of the global market appears promising and has significant potential for growth and investment, with increasing demand for rapid tests and self management of conditions by patients