SWOT Analysis Report: Point-of-Care Testing Devices Market share Sales Statistics and Competition Overview

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4 years ago

Point-of-care testing is also known as the bedside testing. It is defined as the medical diagnostic testing which is done near or at the place and time of patient care. Point-of-care testing devices can be defined as the devices employed for obtaining diagnostic results close to the patient or while with the patient.

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Point-of-care tests are performed employing portable, transportable, handheld devices, and test kits. Point-of-care tests are performed in a range of locations, including at home, at health care practitioner’s office, in emergency department, at the accident scene, in ambulances, in the radiology department, and in an infectious disease containment unit.
The advantages associated with point-of-care testing include convenience, availability of quicker results, and faster implementation of therapy. They are mainly employed for pregnancy testing and home glucose testing. The other point-of-care tests performed are for rapid strep, fecal occult blood, and hemoglobin, as well as prothrombin time/international normalized ratio (PT/INR) for people on the anticoagulant warfarin.

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Growing customer focus of the health care industry increases the need for convenient diagnosis, screening tests, and monitoring. This contributes to the growth of the point-of-care testing, necessitating the need for point-of-care testing devices, thereby resulting in the growth of the market.
Significant increase in infectious diseases, contributes to rise in need for rapid screening for diseases such as influenza, HIV, dengue, and malaria. Point-of-care tests for infectious diseases lead to efficient and prompt treatment, aiding in preventing the spread of the disease. This rise in demand for point-of-care testing of infectious diseases fuels the growth of the point-of-care testing devices market.
Strong focus of market players on research & development for innovating new devices incorporating the technological advances aid in the growth of the point-of-care testing devices market

Rise in prevalence of diabetes is expected to create demand for at home blood glucose monitoring device. According to the WHO, the global prevalence of diabetes is risen to 8.5% in adults over the age of 18 years in 2014 from 4.7% in 1980. This high prevalence of the disease and ease of measuring blood glucose levels employing the glucose monitoring device are anticipated to boost the growth of the point-of-care testing devices market.

In terms of region, the global point-of-care testing devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global point-of-care testing devices market in 2018, owing to strong presence of leading market players, high awareness among the people concerning the point-of-care testing devices, increase in product approvals, and high prevalence of lifestyle diseases, among the people
Europe was the second largest market for point-of-care testing devices in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for point-of-care testing devices, followed by Latin America and Middle East & Africa. Rise in number of non-communicable diseases and increase in government initiatives for improvement of health care industry are expected to accelerate the growth of the point-of-care testing devices market in Asia Pacific.

Leading players in the global point-of-care testing devices market are:

Global Point-of-Care Testing Devices Market, by Product

Glucose Monitoring Devices
Cardiometabolic Monitoring Products
Infectious Disease Testing Products
- Influenza Testing
- HIV Testing
- STD Testing
- Others
Coagulation Monitoring Products
Pregnancy & Fertility Testing Products
- Pregnancy Testing
- Fertility Testing
Hematology Testing Products
Drugs-of-Abuse Testing Products
Fecal Occult Testing Products
Cholesterol Testing Products
Others

Global Point-of-Care Testing Devices Market, by Technology

Global Point-of-Care Testing Devices Market, by Mode of Purchase

Global Point-of-Care Testing Devices Market, by End-user

Global Point-of-Care Testing Devices Market, by Region

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa