Point-of-care diagnostic involves the performance of a test in the presence of a patient to provide a rapid result outside laboratory environment. There have been recent advances in the diagnostic technology leading to the increase in demand for point-of-care diagnostics. They increase patient outcome by maximizing benefit and minimization of risk at reasonable cost. Point-of-care diagnostics allows diagnosis of patient in outpatient clinic, emergency room, ward, home, workplace, pharmacy or paramedical vehicle. It also allows prevention of diseases by early detection of disease and in management of clinical conditions. It facilitates in taking quick clinical decisions, reduces hospital stay, decreases the diagnosis time, eliminates the need of clinical and laboratory staff.
Some of the point-of-care diagnostic kits are cholesterol test strips, glucose monitoring kits, cancer markers, coagulation monitoring kits, pregnancy kits, fecal occult testing kits, fertility testing kits, hematology testing kits, cardiometabolic monitoring kits, urinalysis testing kits, and infectious diseases testing kits. In case of diabetes, HbA1c testing helps in the management of diabetes by indicating the blood glucose concentration by offering quick clinical decision making and implementation of required treatment. In case of urine analysis, point-of-care diagnostic meters will help in measuring urine and blood ketones which will prevent ketoacidosis. In case of coagulation, the point-of-care diagnostic devices help in anticoagulation monitoring in outpatient setting and while a cardiopulmonary bypass surgery is going on. It also aids in cardiac catheterization. It is also useful in detection of cardiac markers to detect heart disease. Point-of-care diagnostic finds its use in hematology by measuring hemoglobin concentration, white blood cell, platelets, mean corpuscle volume, red cell distribution width, and mean corpuscle hemoglobin concentration. In case of cancer, circulating tumor cells (CTCs) spread to distant organs from a primary malignant tumor. The capturing of these CTCs will lead to early detection of cancer which will help in implementing cancer treatment for the patient. It is used in patients with gastrointestinal cancer for occult blood. In infectious diseases such as malaria, rapid diagnostic test is used to detect the presence of malaria parasites in blood.
The major factor driving the point-of-care diagnostics market is increase in the incidence of infectious disease such as hepatitis and respiratory disease. For instance, according to WHO, worldwide, in 2015, around 257 million people were suffering from chronic HBV infection, and 71 million people with chronic HCV infection. Moreover, increase in the prevalence of chronic disease such as cardiac disease and cancer will further boost the growth of this market. For instance, according to American Heart Association, in 2016, about 92.1 million adults in U.S. were suffering from some form of cardiovascular disease or the after-effects of stroke. According to National Cancer Institute, in 2014, in U.S., 14.5 million were living with cancer and this number is expected to rise to almost 19 million by 2024. Furthermore, increasing prevalence of diabetes and will also drive this market. According to International Diabetes Federation, in 2015, diabetes affected 415 million people worldwide and this number is expected to reach up to 642 million by 2040. Increase in the geriatric population is also set to drive the growth of this market. According to WHO, in 2015, 900 million people were 60 years of age or older and this number is expected to reach up to 2 billion by 2050. However, strict regulatory framework can hamper the growth of this market.
The key strategy followed by the major players in the market is product launch to gain more share. For instance, in January 2017, NanoSpeed Diagnostics Inc. launched Test4Ca to test calcium levels. With the launch of Test4Ca, NanoSpeed Diagnostics Inc. will gain more market share.
The major players in the point-of-care diagnostics market are Siemens Healthcare GmbH, Abbott Laboratories, F. Hoffmann La-Roche Ltd., Danaher Corporation, bioMérieux SA, NanoSpeed Diagnostics and Alere Inc.
Point-of-Care Diagnostics Market Segmentation:
- Drug Abuse Testing
- Cardiac markers
- Glucose Testing
- Primary Care systems
- Ambulatory Chemistry
- Hb1 Ac Testing
- Decentralized Clinical Chemistry
- Blood Gas/Electrolytes
- Infectious Disease Testing
- HSV POC
- HPV POC
- HIV POC
- MRSA POC
- Clostridium Difficile POC
- Respiratory Syncytial Virus (RSV) POC
- TB and Drug-resistant TB POC
- HCV POC
- HBV POC
- Pneumonia or Streptococcus Associated Infections
- Other Infectious Diseases
By End User:
- Assisted Living Healthcare Facilities
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country