- The global point-of-care (POC) diagnostics market reached $13.4 billion in 2010 and is expected to reach $13.8 billion in 2011. It will further grow to $16.5 billion in 2016 for a compound annual growth rate (CAGR) of 3.7% between 2011 and 2016.
- The glucose monitoring segment of the POC market reached $7.6 billion in 2010 and is expected to decrease falling to $7.5 billion in 2011. It will grow to $7.6 billion in 2016 for a CAGR of 0.3% between 2011 and 2016.
- The blood chemistry and electrolyte segment of the POC market reached $2.2 billion in 2010 and is expected to reach $2.3 billion in 2011. It will further grow to $2.8 billion in 2016 for a CAGR of 4.8% between 2011 and 2016.
The market for point-of-care (POC) diagnostics can be broken down into 10 segments: glucose monitoring, blood chemistry and electrolyte, pregnancy and fertility, cardiac markers, drug and alcohol, infectious disease, cholesterol, hemoglobin/hemostasis, urine chemistry and tumor marker.
The fastest-growing segment, cardiac markers, is projected to increase at a CAGR of 14.4 percent, rising from $1 billion in 2011 to $2 billion in 2016.
The infectious disease and tumor marker segments have the next highest projected growth rates, with both expected to increase at CAGRs of more than 10 percent.
Globally, the diagnostic testing business is a multibillion-dollar industry with intense competition and areas of high growth, BCC researchers note. The United States is the world’s largest single market for diagnostic testing. This study focuses on POC testing, one of the most active segments within the diagnostic industry. POC testing is growing in both home use and near-patient applications. Both segments are included in this market study.
POC testing includes any screening or diagnostic test that is performed outside the main hospital laboratory. Over the last decade, more diagnostic tests have been performed at patients’ bedsides in hospitals, in physicians’ office laboratories, outpatient clinics, emergency rooms, and intensive-critical-care units. The wider availability of POC testing has revolutionized the continuum of the patient-care process by providing laboratory results rapidly and efficiently at these locations. The trend toward greater POC testing is driven by the faster diagnostic benefits it provides, according to BCC Research.
Several other reasons have emerged for the high demand of POC testing, including staff shortages, older populations, long-term cost savings and rural locations without conventional laboratory services.
STUDY GOALS AND OBJECTIVES
The goal of this study on the point-of-care (POC) industry is to describe this flourishing near-patient testing market. This report provides a complete review and analysis of the current POC markets, and forecasts the market through 2016 in constant dollars. In addition, it provides an examination and description of select products, current and emerging technologies, and company profiles.
The study also covers issues regarding regulation of POC testing, international developments, and patents for POC testing technologies.
REASONS FOR DOING THE STUDY
Over the last few decades, there has been a strong trend toward POC testing due to an increasing demand for near-patient testing that provides rapid results. More tests are being performed at the hospital patient’s bedside, in physicians’ office laboratories, outpatient clinics, emergency rooms, and intensive-care units. Critical-care instruments combining selected important chemistry, hematology, and hemostasis parameters have entered the market for POC testing in the emergency and operating rooms.
The wider availability of POC testing has revolutionized the continuum of the patient-care process by providing laboratory results rapidly and efficiently at these locations. The trend toward greater POC testing is driven by the faster diagnostic benefits it provides.
Several reasons have emerged for this demand of POC testing, including staff shortages, older populations, long-term cost savings, faster diagnosis and care, and rural locations without conventional laboratory services. This study will address these areas and others.
SCOPE OF REPORT
This study will describe the market for POC diagnostics at the global level. It focuses on the accelerating growth in this important diagnostic market segment and the key industry players. Specifically, the report:
- Describes the POC industry
- Estimates the current and future market size
- Provides breakdowns for U.S. markets
- Describes product segments and the continuous updating of POC products
- Analyzes market influences in the industry and predicts the changes that will shape the future POC market
- Discusses trends within the market and provides a future outlook
- Reviews business activities of market leaders
- Lists patents for POC technologies
For the purpose of this study, POC testing includes those tests that are used outside the traditional laboratory. This can be a range of users, including patients, physicians, outpatient clinics, community health centers, and pharmacies. Tests included in this report are those that do not require any specialized training to perform, are performed easily, and whose results are produced in a minimal time frame. Some other terms often used to describe POC include:
- Waived tests
- Rapid tests
- Near patient testing
- Bedside testing
- Outpatient testing
The information for this BCC report was obtained through primary and secondary data-collection methods. Primary methods included interviews with key representatives in the industry such as product development managers, clinical specialists, government departments, and other key representatives involved in the diagnostic industry.
Secondary methods included published literature, investment reports, company literature, and various business journals that focus on diagnostic products and technologies.
Market data for this report pertains to the worldwide market, with specific U.S. data included. All information is displayed using U.S. dollars at the manufacturers’ level. The base year of the report is 2011, with historical data provided for 2009 and 2010 and forecast data provided through 2016. Historical, base year, and forecast data are provided for each of the ten market segments in the report. Compound annual growth rates (CAGRs) are determined through a compilation of data, including past trends, future trends, demographics, incidence of disease, products in research and development, current product growth, and trends in government regulations. Competitor market share estimates are provided for each market segment for the 2011 base year.
Melissa Elder is an experienced healthcare market analyst specializing in prescription and over-the-counter pharmaceuticals, medical devices, and emerging healthcare technologies. Ms. Elder has nearly 20 years of experience in the healthcare industry, specializing in market research for the past 14 years. This experience has given her substantial insight into pharmaceutical market analysis. Her work in the medical community, including emergency room medical training and healthcare information system coordination, has enhanced her ability to provide insight into many healthcare markets.