Point of Care Testing Market: Current Scenario and Forecast (2019-2025)

Point of Care Testing Market: Current Scenario and Forecast (2019-2025)

Emphasis on Product (Blood Glucose Monitoring Test, Pregnancy & Fertility Testing, Infectious Disease Testing, Cardiac Markers, Anticoagulant Management, Others), Prescription (Near the Patient Testing (NPT), Over the Counter (OCT) /Patient Self-Testing (PST)), End-User (Hospitals, Clinics & Laboratory, Home Setting, Other Health Facilities) and Regions/countries

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Published: Dec-2019

Pages:298

Table:102

Figure:187

Report ID:UMHE19195

Global Point-of-Care Testing Market (POCT) was valued at US$ 20.42 billion in 2018 and is anticipated to reach US$ 29.27 billion by 2025 displaying a reasonable CAGR of 5.33% over the forecast period (2019-2025). With emerging technological advancements in healthcare, including lab-on-a-chip, smartphone apps, biosensors, and wearable devices that offer a closer connection to the patient point-of-care (POC) technologies are swiftly becoming part of the transformation of the healthcare landscape. The guiding concept in support of Point-of-Care Testing (POCT) is to bring testing closer to the patient. POCT offers more flexibility to meet a diverse range of medical needs because small, portable POCT devices make testing possible in remote locations, such as underserved populations, rural areas, and locations with limited infrastructure or personnel such as disaster, accident, or military sites. The market of POCT is anticipated to grow enormously owing to factors such as rising old age population and age-related diseases, technological advancements. Moreover, development of condition-specific markers and tests and growing significance of Companion Diagnostic will further boost this market. Growing significance of companion diagnostics and investing in unifying technology will further boom the industry and will mark as an upcoming trend. However, stringent government regulations, unfavourable reimbursement policies for POCT and risk of errors would act as the major challenges, but at a low level.

Increasing Prevalence of Chronic Diseases paired with Rising Geriatric (Elderly) Population is the major factor driving the adoption of POCT service. Costly chronic care needs are growing and exerting considerable demand for health systems. Chronic diseases are among the most prevalent and costly health conditions in the United States. Nearly half (approximately 45%, or 133 Million) of all Americans suffer from at least one chronic disease, and the number is growing. Chronic diseases including, cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases can lead to hospitalization, long-term disability, reduced quality of life, and death. In fact, persistent conditions are the nation’s leading cause of death and disability.

“Amongst POCT product type, blood glucose testing products dominated the market accounting for 75.1% share in 2018”

Based on POCT product, the report segments the market into, Blood Glucose Monitoring Test, Pregnancy & Fertility Testing, Infectious Disease Testing, Cardiac Markers, Anticoagulant Management, Others. Blood Glucose Monitoring Test products dominated the market and is expected to maintain its dominance throughout the forecast period 2019-2025. However, Infectious Disease Testing products are expected to witness the highest CAGR during the analyzed period.

“Over the Counter/Patient Self-Testing (OTC/PST) dominated the market in 2018”

Based on prescription type the global POCT market is segmented into Near the Patient (NPT) and Over the Counter (OTC) /Patient Self-Testing (PST). Over the Counter/Patient Self-Testing (OTC/PST) occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025. Lack of time among the individuals paired with increased disposable income and technological advancement would be the major driving factor for the growth of the segments

  Point-of-Care Testing Market by Prescription, Global, 2018-2025 (US$ Million)

“Hospitals were the major end-user of POCT technology. The segment held 47.7% share in 2018”

On the basis of end-users, the report segments the global POCT market into Hospitals, Clinics & laboratories, home settings and others are the major end-users. In 2018, Hospitals were the largest revenue-generating segment for technology. However, increasing elderly population and associated diseases would drive the increased adoption of POCT for home setting, hence the segment is expected to witness highest CAGR growth of 6.09% during the forecast period 2019-2025.

“North America represents the largest markets for POCT technology globally in 2018, followed by Asia-Pacific and Europe”

For a deep-dive analysis of the overall adoption of POCT technology, detailed analysis was conducted for major regions/countries including North America (US, Canada), Europe (Germany, France, Spain, Italy, UK), Asia-Pacific (China, India, Japan, Australia) and Rest of the world. In 2018, North America dominated the market with ~half the market. However, increasing elderly populations majorly in countries such as Japan and China, Asia-Pacific would emerge as one of the larger markets for the technology in years to come.

Competitive Landscape-Top 10 Market Players

Roche Diagnostics, Becton, Dickinson and Company, Abbott Laboratories, Inc., Biomérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Johnson & Johnson, Siemens Healthineers, Sysmex Corporation and Thermo Fisher Scientific are some of the prominent players operating in the global point-of-care testing market at global scale. However, owing to increasing old age population and rising prevalence age-related disorders, the industry has witnessed emergence of numerous start-ups operating at regional/country level.

Reasons to buy:

  • Current and future market size from 2018 to 2025 in terms of value (US$)
  • Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
  • Country-level details of the overall adoption of point of care market along with value chain
  • A quick review of overall industry performance at a glance
  • In-depth analysis of key industry players
  • A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities, value chain prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments and sub-segments of the technology
  • Region/country Covered: North America (US, Canada and Rest of North America), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, South Korea, Japan, Australia and Rest of Asia-Pacific), and Rest of the World

Customization Options:

The Global Point-of-Care testing Market can be customized to the country level or any other application. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global POCT Market can be customized to the country level or any other market segment.

 

    1.1 Market Definition
    1.2 Objective of the Study
    1.3 Limitation    
    1.4 Stakeholders  
    1.5 Currency used in the Report
    1.6 Scope of the Global Point-of-Care Testing Market Study
  2 RESEARCH METHODOLOGY
    2.1 Research Methodology for Global Point-of-Care Testing Market Study
      2.1.1 Main objective of the Global Point-of-Care Testing Market Study
  3 COMPREHENSIVE ASSESSMENT OF THE VALUE OF DIAGNOSTIC TESTS
    3.1 General Overview
    3.2 Capturing the full spectrum of the value that a diagnostic test contributes
    3.3 Ensuring the Robust Analyses Underpin the Value Assessment
    3.4 Accounting for variation in diagnostic test types in value assessment methods
    3.5 Aligning on how to Define and Measure Value Drivered
      3.5.1 Value Driver: Clinical Impact
      3.5.2 Value Driver: Non-Clinical Patient Impact
      3.5.3 Value Driver: Care Delivery Revenue and Cost Impact
      3.5.4 Value Driver: Public/Population Impact
  4 REFRAMING THE DIAGNOSTICS INDUSTRY
    4.1 General Overview
  5 COSTS AND BENEFITS OF DIAGNOSTIC TESTING
    5.1 General Overview
    5.2 Introduction and problem statement
      5.2.1 Increasing healthcare costs
      5.2.2 Underutilization of IVDs in clinical practice
    5.3 Consequences for patient care
      5.3.1 Conceptual interventions
        5.3.1.1 Fostering prevention, screening, early diagnosis, and therapy
        5.3.1.2 Promoting comprehensive disease management
        5.3.1.3 Promoting Stratified Disease Management
        5.3.1.4 Targeted delivery of treatment alongside companion diagnostics
    5.4 Consequences for policies: promoting a fee for outcomes
    5.5 Analysis of the Study
    5.6 Conclusion  
  6 REGULATIONS & GUIDELINES OF POINT-OF-CARE TESTING
    6.1 General Overview
    6.2 The United States Point-Of-Care Testing Guidelines
      6.2.1 Regulations
        6.2.1.1 CLIA Waived Status for POCT
      6.2.2 Guidelines
        6.2.2.1 Obtain Authority to Coordinate Point-of-Care Testing Program
        6.2.2.2 Select Members of Point-of-Care Committee (POCC)
        6.2.2.3 Committee Develops a Point-of-Care-Program
        6.2.2.4 Committee Reviews All Sites for Point-of-Care Testing
        6.2.2.5 Evaluation of Proposed Testing
        6.2.2.6 Implementation
        6.2.2.7 Evaluation of Point-of-Care Testing Program
    6.3 Canada Point-of-Care Testing Guidelines
    6.4 Australia Point-of-Care Testing Guidelines
    6.5 Dubai Point-of-Care Testing Guidelines by Health Regulation Department
      6.5.1 Introduction
      6.5.2 Professional Requirement
      6.5.3 POCT Equipment
      6.5.4 Documentation and Transmission of Results
      6.5.5 Quality Control
  7 RISK MITIGATION  
    7.1 General Overview
    7.2 Supply Chain  
    7.3 Risk Assessment
    7.4 Bulk, Custom and Contract Manufacturing
  8 INDUSTRY PERFORMANCE
  9 EXECUTIVE SUMMARY
  10 MARKET OVERVIEW  
    10.1 Introduction of In-Vitro Diagnostics Market
      10.1.1 Comparison of IVD & POCT
      10.1.2 Main Categories of Diagnostics
      10.1.3 Settings of Use
    10.2 The key to accountable adoption of POCT
      10.2.1 Drivers of diagnostic technology innovation and adoption:
      10.2.2 Current challenges for diagnostic innovation
        10.2.2.1 Regulation
        10.2.2.2 Evidence generation
        10.2.2.3 Clinical needs
        10.2.2.4 Commissioning
        10.2.2.5 Adoption
      10.2.3 Current needs
        10.2.3.1 Three key questions for diagnostic innovation:
      10.2.4 Developing an evidence ‘toolkit’ for diagnostic test research
    10.3 Value of Diagnostics to Health Care and Health Status
    10.4 Current and Future Use of Diagnostic Products
      10.4.1 Primary Uses of Diagnostics
        10.4.1.1 Predictive Applications/Screening/Early Disease Detection
        10.4.1.2 Diagnostics
        10.4.1.3 Secondary Risk Assessment; Prognostic
        10.4.1.4 Drug Selection/Treatment Targeting
        10.4.1.5 Disease/Condition Monitoring and Management
      10.4.2 In Vitro Diagnostics: Overview of Future Trends and Directions
        10.4.2.1 Predict Disease Before Symptoms Appear
        10.4.2.2 Predict Beneficial and Adverse Treatment Effects
        10.4.2.3 Enable Personalized “Real-Time” Treatment and Disease Management Regimens
        10.4.2.4 Facilitate Point-of-care and Near-patient Testing
        10.4.2.5 Enable Home Testing
        10.4.2.6 Public Health, Environmental, Bioterrorism Applications
        10.4.2.7 Technology and Testing System Integration
      10.4.3 The importance of Diagnostics in Healthcare
        10.4.3.1 The role of diagnostics
        10.4.3.2 Improving patient care
        10.4.3.3 Reducing healthcare spending
        10.4.3.4 Reasons In Vitro Diagnostics Are Superior
    10.5 Market Dynamics
      10.5.1 Market Drivers
        10.5.1.1 Increasing Prevalence of Chronic Diseases
          10.5.1.1.1 The Challenges of Chronic Disease
          10.5.1.1.2 The Cost of Chronic Diseases
        10.5.1.2 Rising Geriatric (Elderly) Population
        10.5.1.3 Technology Advancement
      10.5.2 Market Restraints
        10.5.2.1 Stringent Government Regulations for the Manufacturing of POCT Products
        10.5.2.2 Unfavourable Reimbursement Policies for POCT
        10.5.2.3 Risk of errors
      10.5.3 Market Opportunities
        10.5.3.1 Development of Condition-Specific Markers and Tests
        10.5.3.2 The growing significance of Companion Diagnostics
      10.5.4 Market Trends
        10.5.4.1 Changing Reimbursement Models and Regulations
        10.5.4.2 Rising Investments in Unifying Technology
        10.5.4.3 Consolidation and Automation of Labs
        10.5.4.4 Shift towards Data-Driven Healthcare
  11 KEY MARKET INDICATORS
    11.1 Demand    
    11.2 Supply Side Analysis
      11.2.1 Supply Chain Barriers
        11.2.1.1 Product Launch
        11.2.1.2 Partnership
        11.2.1.3 Business Expansion & Investment
        11.2.1.4 Mergers and Acquisitions
      11.2.2 Value Chain Analysis of POC Testing
  12 MARKET INSIGHT BY PRODUCT
    12.1 General Overview
      12.1.1 Blood Glucose Monitoring Test
      12.1.2 Pregnancy & Fertility Testing
      12.1.3 Infectious Disease Testing
      12.1.4 Cardiac Markers
      12.1.5 Anticoagulant Management
      12.1.6 Others  
  13 MARKET INSIGHT BY PRESCRIPTION
    13.1 General Overview
      13.1.1 Near the Patient Testing (NPT)
      13.1.2 Over the Counter (OCT) /Patient Self-Testing (PST)
  14 MARKET INSIGHT BY END USER
    14.1 General Overview
      14.1.1 Hospitals  
      14.1.2 Clinics & Laboratory
      14.1.3 Home Setting
      14.1.4 Other Health Facilities
  15 MARKET INSIGHT BY REGION
    15.1 General Overview
    15.2 North America POCT Market Insight
      15.2.1 North America Point-of-Care Testing Market, By Product
      15.2.2 North America Point-of-Care Testing Market by Prescription
      15.2.3 North America Point-of-Care Testing Market by End-User
      15.2.4 North America POCT Market by Country
        15.2.4.1 United States
          15.2.4.1.1 Key Findings on Healthcare Spending in the US, 2017
          15.2.4.1.2 US Health Spending by Type of Service or Product, 2017
          15.2.4.1.3 Health Spending by Major Sources of Funds
          15.2.4.1.4 United States Point-of-Care Testing Market, By Product
          15.2.4.1.5 United States Point-of-Care Testing Market by Prescription
          15.2.4.1.6 United States Point-of-Care Testing Market by End-User
        15.2.4.2 Canada
          15.2.4.2.1 Key Findings on Canada Healthcare Spending, 2018
          15.2.4.2.2 Key Findings on Hospital sector Spending in Canada, 2017
          15.2.4.2.3 Canada Point-of-Care Testing Market, By Product
          15.2.4.2.4 Canada Point-of-Care Testing Market by Prescription
          15.2.4.2.5 Canada Point-of-Care Testing Market by End-User
        15.2.4.3 Rest of North America
          15.2.4.3.1 Rest of North America Point-of-Care Testing Market, By Product
          15.2.4.3.2 Rest of North America Point-of-Care Testing Market by Prescription
          15.2.4.3.3 Rest of North America Point-of-Care Testing Market by End-User
    15.3 Europe POCT Market Insight
      15.3.1 Europe Point-of-Care Testing Market, By Product
      15.3.2 Europe Point-of-Care Testing Market by Prescription
      15.3.3 Europe Point-of-Care Testing Market by End-User
      15.3.4 Europe POCT Market by Country
        15.3.4.1 Germany
          15.3.4.1.1 Germany Point-of-Care Testing Market, By Product
          15.3.4.1.2 Germany Point-of-Care Testing Market by Prescription
          15.3.4.1.3 Germany Point-of-Care Testing Market by End-User
        15.3.4.2 France
          15.3.4.2.1 France Point-of-Care Testing Market, By Product
          15.3.4.2.2 France Point-of-Care Testing Market by Prescription
          15.3.4.2.3 France Point-of-Care Testing Market by End-User
        15.3.4.3 Spain
          15.3.4.3.1 Facts on Healthcare Sector Spain
          15.3.4.3.2 Spain Point-of-Care Testing Market, By Product
          15.3.4.3.3 Spain Point-of-Care Testing Market by Prescription
          15.3.4.3.4 Spain Point-of-Care Testing Market by End-User
        15.3.4.4 Italy  
          15.3.4.4.1 Italy Point-of-Care Testing Market, By Product
          15.3.4.4.2 Italy Point-of-Care Testing Market by Prescription
          15.3.4.4.3 Italy Point-of-Care Testing Market by End-User
        15.3.4.5 United Kingdom
          15.3.4.5.1 United Kingdom Point-of-Care Testing Market, By Product
          15.3.4.5.2 United Kingdom Point-of-Care Testing Market by Prescription
          15.3.4.5.3 United Kingdom Point-of-Care Testing Market by End-User
        15.3.4.6 Rest of Europe
          15.3.4.6.1 Rest of the Europe Point-of-Care Testing Market, By Product
          15.3.4.6.2 Rest of the Europe Point-of-Care Testing Market by Prescription
          15.3.4.6.3 Rest of the Europe Point-of-Care Testing Market by End-User
    15.4 Asia-Pacific POCT Market Insight
      15.4.1 Asia-Pacific Point-of-Care Testing Market, By Product
      15.4.2 Asia-Pacific Point-of-Care Testing Market by Prescription
      15.4.3 Asia-Pacific Point-of-Care Testing Market by End-User
      15.4.4 Asia-Pacific POCT Market by Country
        15.4.4.1 China
          15.4.4.1.1 Facts on Chinese Elderly Population
          15.4.4.1.2 China Point-of-Care Testing Market, By Product
          15.4.4.1.3 China Point-of-Care Testing Market by Prescription
          15.4.4.1.4 China Point-of-Care Testing Market by End-User
        15.4.4.2 India
          15.4.4.2.1 India Point-of-Care Testing Market, By Product
          15.4.4.2.2 India Point-of-Care Testing Market by Prescription
          15.4.4.2.3 India Point-of-Care Testing Market by End-User
        15.4.4.3 Japan
          15.4.4.3.1 Japan Point-of-Care Testing Market, By Product
          15.4.4.3.2 Japan Point-of-Care Testing Market by Prescription
          15.4.4.3.3 Japan Point-of-Care Testing Market by End-User
        15.4.4.4 Australia
          15.4.4.4.1 Australia Point-of-Care Testing Market, By Product
          15.4.4.4.2 Australia Point-of-Care Testing Market by Prescription
          15.4.4.4.3 Australia Point-of-Care Testing Market by End-User
        15.4.4.5 Rest of Asia-Pacific
          15.4.4.5.1 Health Expenditure
          15.4.4.5.2 Public Hospital Funding - District Health Boards
          15.4.4.5.3 Mental Health
          15.4.4.5.4 Disability Support Services
          15.4.4.5.5 Reduction in costs of visiting GP
          15.4.4.5.6 Rest of APAC Point-of-Care Testing Market, By Product
          15.4.4.5.7 Rest of APAC Point-of-Care Testing Market by Prescription
          15.4.4.5.8 Rest of APAC Point-of-Care Testing Market by End-User
    15.5 Rest of World Market Insight
      15.5.1 Rest of World Point-of-Care Testing Market, By Product
      15.5.2 Rest of the world Point-of-Care Testing Market by Prescription
      15.5.3 Rest of the world Point-of-Care Testing Market by End-User
  16 COMPETITIVE SCENARIO
    16.1 Porter’s Five forces analysis
      16.1.1 Bargaining Power of Suppliers
      16.1.2 Bargaining Power of Buyers
      16.1.3 Threat of New Entrants
      16.1.4 Threat of Substitutes
      16.1.5 Industry Rivalry
    16.2 Market Share Analysis, by Company
      16.2.1 Global Point-of-Care Testing Market Share Analysis, by Company 2018
  17 TOP COMPANY PROFILES
    17.1 Abbott Laboratories
      17.1.1 Key Facts  
      17.1.2 Business Description
      17.1.3 Key Product/Services Offerings
      17.1.4 Growth Strategy
      17.1.5 SWOT Analysis
      17.1.6 Key Financials
        17.1.6.1 Revenue Split
      17.1.7 Recent Developments
        17.1.7.1 Product Launches
        17.1.7.2 Partnership
        17.1.7.3 Merger and Acquisition
    17.2 Becton, Dickinson and Company
      17.2.1 Key Facts  
      17.2.2 Business Description
      17.2.3 Becton Dickinson, and Company, Key Product/Services Offerings
      17.2.4 Growth Strategy
      17.2.5 SWOT Analysis
      17.2.6 Key Financials
        17.2.6.1 Revenue Split
      17.2.7 Recent Developments
        17.2.7.1 Product Launches
        17.2.7.2 Business Expansions and Investments
        17.2.7.3 Merger & Acquisition
    17.3 Biomérieux SA  
      17.3.1 Key Facts  
      17.3.2 Business Description
      17.3.3 Key Product/Services Offerings
      17.3.4 Growth Strategy
      17.3.5 SWOT Analysis
      17.3.6 Key Financials
        17.3.6.1 Revenue Split
      17.3.7 Recent Developments
        17.3.7.1 Product Launches
        17.3.7.2 Partnerships
        17.3.7.3 Mergers and Acquisitions
    17.4 Bio-Rad Laboratories, Inc.
      17.4.1 Key Facts  
      17.4.2 Business Description
      17.4.3 Key Product/Services Offerings
      17.4.4 Growth Strategy
      17.4.5 SWOT Analysis
      17.4.6 Key Financials
        17.4.6.1 Revenue Split
      17.4.7 Recent Developments
        17.4.7.1 Product Launches
        17.4.7.2 Mergers and Acquisition
    17.5 Danaher Corporation
      17.5.1 Key Facts  
      17.5.2 Business Description
      17.5.3 Key Product/Services Offerings
      17.5.4 Growth Strategy
      17.5.5 SWOT Analysis
      17.5.6 Key Financials
        17.5.6.1 Revenue Split
      17.5.7 Recent Developments
        17.5.7.1 Merger and Acquisitions
    17.6 Johnson & Johnson
      17.6.1 Key Facts  
      17.6.2 Business Description
      17.6.3 Key Product/Services Offerings
      17.6.4 Growth Strategy
      17.6.5 SWOT Analysis
      17.6.6 Key Financials
        17.6.6.1 Revenue Split
    17.7 Roche Holding AG
      17.7.1 Key Facts  
      17.7.2 Business Description
      17.7.3 Key Product/Services Offerings
      17.7.4 Growth Strategy
      17.7.5 SWOT Analysis
      17.7.6 Key Financials
        17.7.6.1 Revenue Split
      17.7.7 Recent Developments
        17.7.7.1 Product Launches
        17.7.7.2 Partnership
        17.7.7.3 Mergers and Acquisitions
    17.8 Siemens Healthineers AG
      17.8.1 Key Facts  
      17.8.2 Business Description
      17.8.3 Key Product/Services Offerings
      17.8.4 Growth Strategy
      17.8.5 SWOT Analysis
      17.8.6 Key Financials
        17.8.6.1 Revenue Split
      17.8.7 Recent Developments
        17.8.7.1 Product Launches
        17.8.7.2 Partnerships
        17.8.7.3 Business Expansion and Investment
        17.8.7.4 Merger and Acquisition
    17.9 Thermo Fisher Scientific
      17.9.1 Key Facts  
      17.9.2 Business Description
      17.9.3 Key Product/Services Offerings
      17.9.4 Growth Strategy
      17.9.5 SWOT Analysis
      17.9.6 Key Financials
        17.9.6.1 Revenue Split
      17.9.7 Recent Developments
        17.9.7.1 Product Launches
        17.9.7.2 Partnerships
        17.9.7.3 Business Expansion and Investments
        17.9.7.4 Merger and Acquisition
    17.10 Sysmex Corporation
      17.10.1 Key Facts  
      17.10.2 Business Description
      17.10.3 Key Product/Services Offerings
      17.10.4 Growth Strategy
      17.10.5 SWOT Analysis
      17.10.6 Key Financials
        17.10.6.1 Revenue Split
      17.10.7 Recent Developments
        17.10.7.1 Product Launches
        17.10.7.2 Partnership
        17.10.7.3 Business Expansion & Investments
        17.10.7.4 Merger and Acquisition

Analyzing historical market, estimation of the current market and forecasting the future market for Global POCT market were the three major steps undertaken to create and analyze the overall adoption rate of POCT services in major markets. Exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the POCT technology. Post all the assumptions and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of POCT technology at Global scale. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the overall market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global POCT Market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as World Bank, CDC, European Commission (EC), United Nations and WHO, OECD among others were used.

Step 2: Market Segmentation:

Post obtaining the historical market size of the overall market, detailed secondary analysis was conducted to gather historical market insights and share for different segments and sub-segments of the Global POCT service. Major segments included in the report are product, prescription and end-user.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments detailed factor analysis was conducted to estimate the current market size of the Global POCT technology. Factor analysis was conducted using dependent and independent variables such as Accelerating aging population and rising prevalence of age-related disorders, Technology Advancements, etc. Historical trends of the Global POCT and their year-on-year impact on the market size and share in the recent past were analyzed. The demand and supply-side scenario were also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players and industry’s supply chain. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segments and sub-segments in major markets. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of POCT worldwide
  • All percentage shares, splits and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as the market share of each player. Also, the growth strategies adopted by these players to compete in the ever-growing Global POCT market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research was consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the Global POCT market. Data was split into several segments post studying various parameters and trends in the areas of disease testing such as Blood Glucose Monitoring Test, Pregnancy & Fertility Testing, Infectious Disease Testing, Cardiac Markers, Anticoagulant Management and others. A detailed analysis was also conducted for major regions including North America, Europe, Asia-Pacific among others

Main objective of the Global Point-of-Care Testing (POCT) Market Study

The current & future market trends of the global POCT market are pinpointed in the study. The investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. The current and future market trends would determine the overall attractiveness of the market, providing a platform for the diagnostics healthcare participant to exploit the untapped market to benefit as the first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the global  Point-of-Care Testing market in terms of value (US$)
  • Analyze the current and forecast market size of different segments and sub-segments of the market
  • To analyze the revenue and business models of the major market players in the industry along with their growth strategy adopted to sustain in the competitive market
  • To understand the initiatives undertaken by diagnostics companies’ vs service providers to increase the overall analysis of Point-of-Care Testing in major regions
  • Define and describe the segments and sub-segments considered in the evaluation of the global Point-of-Care Testing market and anticipate potential risk associated with the market
  • Define and analysis of the government regulations for diagnostics and point-of-care testing industry
  • Analyze the current and forecast market size of the market for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and Rest of World
  • Define and analyze the competitive landscape of the global Point-of-Care Testing market and the growth strategies adopted by the market players to sustain in the fast-growing market

Analyzing historical market, estimation of the current market and forecasting the future market for Global POCT market were the three major steps undertaken to create and analyze the overall adoption rate of POCT services in major markets. Exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the POCT technology. Post all the assumptions and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of POCT technology at Global scale. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the overall market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global POCT Market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as World Bank, CDC, European Commission (EC), United Nations and WHO, OECD among others were used.

Step 2: Market Segmentation:

Post obtaining the historical market size of the overall market, detailed secondary analysis was conducted to gather historical market insights and share for different segments and sub-segments of the Global POCT service. Major segments included in the report are product, prescription and end-user.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments detailed factor analysis was conducted to estimate the current market size of the Global POCT technology. Factor analysis was conducted using dependent and independent variables such as Accelerating aging population and rising prevalence of age-related disorders, Technology Advancements, etc. Historical trends of the Global POCT and their year-on-year impact on the market size and share in the recent past were analyzed. The demand and supply-side scenario were also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players and industry’s supply chain. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segments and sub-segments in major markets. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of POCT worldwide
  • All percentage shares, splits and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as the market share of each player. Also, the growth strategies adopted by these players to compete in the ever-growing Global POCT market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research was consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the Global POCT market. Data was split into several segments post studying various parameters and trends in the areas of disease testing such as Blood Glucose Monitoring Test, Pregnancy & Fertility Testing, Infectious Disease Testing, Cardiac Markers, Anticoagulant Management and others. A detailed analysis was also conducted for major regions including North America, Europe, Asia-Pacific among others

Main objective of the Global Point-of-Care Testing (POCT) Market Study

The current & future market trends of the global POCT market are pinpointed in the study. The investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. The current and future market trends would determine the overall attractiveness of the market, providing a platform for the diagnostics healthcare participant to exploit the untapped market to benefit as the first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the global  Point-of-Care Testing market in terms of value (US$)
  • Analyze the current and forecast market size of different segments and sub-segments of the market
  • To analyze the revenue and business models of the major market players in the industry along with their growth strategy adopted to sustain in the competitive market
  • To understand the initiatives undertaken by diagnostics companies’ vs service providers to increase the overall analysis of Point-of-Care Testing in major regions
  • Define and describe the segments and sub-segments considered in the evaluation of the global Point-of-Care Testing market and anticipate potential risk associated with the market
  • Define and analysis of the government regulations for diagnostics and point-of-care testing industry
  • Analyze the current and forecast market size of the market for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and Rest of World
  • Define and analyze the competitive landscape of the global Point-of-Care Testing market and the growth strategies adopted by the market players to sustain in the fast-growing market

Point of Care Testing Market: Current Scenario and Forecast (2019-2025)