Point of Care Testing Market Scope
Point-of-care testing (POCT) is also known as medical testing, which is to be done near the site of patient care with the help of specially trained healthcare professionals. These tests can be performed at the bedside and they typically involve urine and blood urine testing. The goal of POCT is the collection of specimen and obtain the accurate results in extremely short period of time at or near to the location of the patient. POCT is many times accomplished through use of the transportable, portable, and handheld instruments, such as blood glucose meter, INR meter. Bench analysers are also been available for electrolyte, blood gas, pH, metabolite and haemoglobin measurement. Urinalysis analysers are also available for accurate and rapid urine testing
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Point of Care Testing market throughout the predicted period.
Abbott (United States), Roche (Switzerland), Siemens (Germany), Danaher (United States), Becton, Dickinson, and Company (United States), Johnson & Johnson (United States), Instrumentation Laboratory (United States), PTS Diagnostics (United States), Quidel (United States) and Chembio (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Sekisui Diagnostics (United States), Nova (United States), EKF Diagnostics (United Kingdom), AccuBioTech (China) and Trinity Biotech (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Point of Care Testing market by Type (Glucose Monitoring, Cardiac Markers, Infectious Diseases Testing, Cholesterol Testing, Coagulation Monitoring, Pregnancy And Fertility Testing, Hematology Testing, Blood Gas Testing and Others), by Application (Infectious Disease and Non-Infectious Disease) and Region with country level break-up.
On the basis of geography, the market of Point of Care Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020.
Market Leaders and their expansionary development strategies
BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced the safety and efficacy data from the LUTONIX® Drug-Coated Balloon (DCB) IDE, level 1 clinical trial for a below-the-knee (BTK) indication
The U.S. Food and Drug Administration (FDA) regulates medical devices to assure their safety and effectiveness and develops, and carries out a national program designed to control unnecessary exposures to, and assure safe and efficacious use of, ionizing and non-ionizing radiation-emitting electronic products. The Center for Devices and Radiological Health (CDRH) is the component within the FDA that is responsible for this program
Market Trend
- Rising usage of home based POC devices
- Rising in the number of approvals of novel immunoassay techniques
Market Drivers
- Increasing infectious diseases in the developing countries
- Technological advancement and launching of new products
Opportunities
- POC tests with multiplexing capabilities
- Converting lab test to POC test
Restraints
- Pricing pressure concerning to the reimbursement cuts and budget constraints
- Stringent and time consuming regulatory policies
Challenges
- High cost associated with the devices
- Inadequate knowledge of using the devices
Key Target Audience
Point-of-care diagnostics manufacturing companies, Point-of-care diagnostics distribution companies, Clinical laboratories, Hospitals, clinics, and special areas (such as sports and military), Research institutes and clinical research organizations (CROs) and Market research and consulting firms