The global point-of-care diagnostics market is projected to reach USD 38.13 Billion by 2022 from USD 23.71 Billion in 2017, at a CAGR of 10.0 percent during the forecast period. Factors such as high prevalence of infectious diseases in developing countries, increasing incidence of target diseases, and rising preference for home healthcare across the globe are increasing the adoption of POC diagnostic products globally.
This report broadly segments the rapid diagnostic market into product, platform, mode, end user, and region.
On the basis of product, the global POC diagnostics market is segmented into products for glucose monitoring, infectious disease testing, coagulation testing, cardiometabolic testing, hematology testing, urinalysis testing, cholesterol testing, drugs of abuse testing, tumor/cancer marker testing, pregnancy and fertility testing, fecal occult testing, and others (multi-assay testing, liver testing, hepatitis A & B testing, and vitamin assay testing). The infectious disease testing products segment is expected to grow at the highest CAGR during the forecast period. The growing patient population base and increasing availability and awareness about infectious disease POC testing products are the major factors contributing to the segment’s growth.
Based on platforms, the point-of-care diagnostics market is further segmented into lateral flow assays, immunoassays, POC molecular diagnostics, dipsticks, and microfluidics. The molecular diagnostics segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the growing advancements in technology, increasing initiatives of market players for developing POC molecular diagnostic products, and resource-limited settings.
On the basis of mode of prescription, the rapid diagnostic market is categorized into two segments prescription-based testing and OTC testing. The prescription-based testing segment is expected to command the largest share of the global point-of-care diagnostics market in 2017. The growth of this segment can be attributed to the increasing incidence and prevalence of lifestyle diseases and the lack of awareness on OTC POCT devices in developing nations.
On the basis of end user, the rapid diagnostic market is further segmented into professional diagnostic centers, home care, research laboratories, and other end users. The home care settings segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.
The report covers the point-of-care diagnostics market across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of the market in 2017, due to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives in this region. – Markets and Markets