Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- "The Worldwide Market for Point-of-Care (POC) Diagnostic Tests, 8th Edition" report has been added to ResearchAndMarkets.com's offering.
By the middle of the decade, point of care testing is expected to reach 45 billion dollars annually. This should not be surprising. Globally, millions of dollars are spent annually on POC diagnostic testing, both professional testing and self-testing. In 2020, sales of POC testing reached $29,316 million. COVID-19 was a significant game changer in 2020. The number of new tests for POC COVID-19 was stunning.
In some segments, COVID-19 caused a contraction of the segment due to lockdown, closures, limited physician visits and a reduction in elective and outpatient surgery. The market is expected to resume pre-pandemic growth in all segments of the POC market. Certain segments will continue to advance significantly from 2021-2025.
In 2025, the total global POC diagnostic testing market is expected to reach almost $45 billion, displaying growth of 8.9% over the forecast period 2020-2025.
Global POC Test Market, 2020-2025 (in millions $ at manufacturer level)
Global POC Testing Market Analysis by Product Category, 2020 (in millions $) (Self-Testing, Professional Testing, Total)
Global POC Self-Testing Market Analysis by Product Category, 2020 (in millions$) (Glucose [includes CGM], Pregnancy & Fertility, Fecal Occult Blood, Rapid Coagulation, Drugs of Abuse, Urine, Infectious Disease, Lipid, Total)
Global POC Self-Testing Market Analysis by Product Category, 2020 (by %) (Infectious Disease, Urine, DOA, Coagulation, FOB, Pregnancy, Glucose)
Global POC Professional Testing Market Analysis by Product Subcategory, 2020 (in millions$) (Drugs of Abuse, Glucose includes HbA1c, Blood & Electrolytes, Infectious Disease, Rapid Coagulation, Fecal Occult Blood, Cardiac Markers, Lipid, Pregnancy & Fertility, Miscellaneous, Urine, Cancer Tumor Markers, Total)
Global POC Professional Testing Market Analysis by Product Subcategory, 2020 (by %) (Tumor Markers, Urine, Misc, Pregnancy, Lipid, Cardiac Markers, Rapid Coag, FOB, Infectious Disease, Blood/ Electrolytes, Glucose/ HbA1c, DOA)
POC Testing by End-user, 2020 (%) (Hospitals, Others)
Global POC Market by Technology by Sales, 2020 (%) (LFA, Biosensors, Analyzers, Strips)
Regional Market Analysis
POC test devices have contributed significantly to the growth of the overall diagnostics market over the past 10 years. More diagnostic manufacturers have pursued CLIA waiver status for their POC devices and CE Mark for POC or self-use. At the same time more, decentralized test venues invest in non-waived rapid tests and instruments. POC testing appears to be headed for an even bigger role in diagnosis and monitoring patient care. New technologies are allowing POC devices to produce quantitative lab-quality test results that can be transferred automatically to an information system, a remote caregiver service for consultation or an electronic medical record.
It's not all upside - test cost will continue to weigh more heavily upon the trajectory of POC testing in many markets. In Europe, fee schedules have significantly dampened or led to the contraction of national POC markets; Switzerland is an exception through its preserved (though repeatedly contested) premiums paid to POC tests over scheduled base fees. In the United States, future changes to Medicare's CLFS will place significant pressure on some POC tests performed in large volumes on automated systems in centralized and commercial labs. These challenges and expected forecasts given their presence are discussed in the report.
POC test devices have contributed significantly to the growth of the overall diagnostics market over the past 10 years. More diagnostic manufacturers have pursued CLIA waiver status for their POC devices and CE Mark for POC or self-use. POC testing appears to be headed for an even bigger role in diagnosis and monitoring patient care; especially since new technologies are allowing POC devices to produce quantitative lab-quality test results that can be transferred automatically to an information system, a remote caregiver service for consultation, or an electronic medical record.
Conclusion One - POC market transformed by technological progress
Conclusion Two - POC Molecular Diagnostics continue making inroads
Conclusion Three - Prevention and early detection at nexus of POC development
Conclusion Four - Wearables continue to influence POC market
Conclusion Four - Test cost will continue to be an issue worldwide
Conclusion Five - Reimbursement and economic conditions still hot issue
Conclusion Six - Rising demand will drive POC market in RoW markets
Conclusion Seven - New venues - urgent & retail care
Conclusion Eight - COVID-19's Positive Effect
1 Step Detect Associates
Alfa Scientific Designs
American Bio Medica
Ascensia Diabetes Care
Ativa Medical Corp
Atlas Link Biotech
Beijing Wantai Biological Pharmaceuticals
Bhat Bio-Tech India Private Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/7nfoiy
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