The Total Point of Care Diagnostics Market Will Reach $20.9bn in 2015

Wednesday 5 September 2012, Amsterdam

A new report, a London-based business information provider predicts the global point of care diagnostics market to be worth $34.6bn by 2021. The market generated $13.9 bn in 2010 according to Point of Care Diagnostics: World Market Outlook, 2012-2021, published in December 2011.

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 the patient management. There are already a number of POC diagnostics in the market, with many more in development. Although the POC diagnostics market is not a new segment in the IVD market, there are some sub segments that are still evolving.

Rupali Vadhera, healthcare industry reports editor says ‘The point of care diagnostics are benefiting from the increasing importance of diagnostics in the healthcare systems. Although presenting an additional cost upfront, the use of diagnostic tests help in the cost management by directing the right treatment for the condition and preventing any drug associated complications as well. There are few challenges to meet, and the opportunity for growth in this market is vast. At present, there are few studies that assess the cost-effectiveness of the POC diagnostic devices; however their adoption in both professional and self testing settings has increased over recent years.’

A research suggests that the point of care diagnostics market will benefit from the launch of new diagnostic tests as well expansion of the test menus on the marketed diagnostic devices. Any changes in the reimbursement policy will affect the growth in the market, particularly the self-testing segment. The state of each sub segment of the point of care diagnostics market is different, with different challenges and opportunities. The importance of point of care diagnostics will increase in the healthcare systems of both the developed and developing countries. Adoption the point of care tests in the developed countries will be driven by the convenience and ease of use. In the developing countries growth of point of care diagnostics will mainly be due to the lack of facilities and infrastructure for laboratory testing.

Point of care diagnostics is a well established market with significant opportunities to grow. An analysis of the blood glucose testing, coagulation testing, cardiac marker testing and infectious diseases testing markets showed a great deal of promise in the future. This new study complements the wide range of analytical reports in healthcare and other industry areas.