December 08, 2009
Wellesley, Mass. – According to a new technical market research report, POINT-OF-CARE DIAGNOSTICS (HLC043B) from BCC Research (www.bccresearch.com), the global market for point-of-care diagnostics is an estimated $13.4 billion in 2009, but is expected to increase to $18.7 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 7%.
The largest segment of the market, glucose monitoring, is estimated to be worth nearly $7.8 billion in 2009, and is expected to increase at a CAGR of 5.1% to reach nearly $10 billion in 2014.
Blood chemistry and electrolyte, the second-largest segment, is expected to reach nearly $3.9 billion in 2014, after increasing from the 2009 estimate of $2.2 billion at a CAGR of 12%.
The fastest-growing segment, cardiac markers, is projected to increase at a CAGR of 13.8%, increasing from an estimated $619 million in 2009 to nearly $1.2 billion in 2014.
POC testing, or near-patient 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.
The major product segments of the POC market, as defined by BCC, are blood chemistry and electrolyte testing, cardiac marker testing, cholesterol testing/monitoring, drug and alcohol screening, glucose monitors and supplies, infectious disease detection and testing, pregnancy and fertility tests, hemoglobin/hemostasis testing/monitoring, tumor marker detection, and urine chemistry analyses. POC products include handheld instruments, small analytical instruments, instruments with multi-test capabilities, diagnostic kits (such as dipsticks and cassette devices), and portable data systems to collect, manage, and process test data.
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.
Point of Care Diagnostics( HLC043B )
Publish Date: Nov 2009
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.