The Global Point of Care Technology Market is expected to grow at a CAGR of 9.5% during the forecast period 2017–2023.
Some of the key players in this market are Abbott (U.S.), Johnson & Johnson Services, Inc.(U.S.), Techno MedicaCo., Ltd. (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens AG (Germany), Alere Inc. (U.S.), Instrumentation Laboratory (U.S.), PTS Diagnostics (U.S.), Nova Biomedical (U.S.), Beckman Coulter, Inc. (U.S.) BD (U.S.), Quidel Corporation (U.S), Meridian Bioscience Inc. (U.S).
The point of care technology market is growing mainly due to rising cases of chronic diseases. According to a recent study report published by the Market Research Future, the point of care technology market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
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Point-of-care testing allows patient diagnosis, in an ambulance, the home, the field, or in the hospital. The results of care are timely, and allow rapid treatment to the patient. Point of care technology market is growing rapidly due to the evolving healthcare industry, especially in developing nations. Point of care documentation devices smooth the workflow, reduces errors in a clinical tasks including diagnostics, medication prescribing, and medication administration, which will indirectly boost the growth of the market.
Notably, rising prevalence of chronic diseases is the primary driver for point of care technology market. Epidemic of obesity, socioeconomic transitions, nutrition transitions, and rapid urbanization are promoting the rising prevalence of most of the diseases. According to WHO, global prevalence of diabetes has risen from 4.7% to 8.5% in 2014. It is also estimated that around 1.6 million deaths have been occurred in 2015 due to diabetes worldwide. The rising prevalence of diabetes in low and middle-income countries appears to be fuelled by nutrition transition, rapid urbanization, and increasingly sedentary lifestyles, suggested by a study published in Pharmacoeconomics in 2015.
The Global Point of Care Technology Market is segmented by type of products, and end users.
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On the basis of type of product, it is segmented into glucose testing, cardiac markers, HbA1c testing, and coagulation, and others. On the basis of end users, it is segmented into clinics, hospital, home care, ambulatory care, and others.
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
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