Point of Care Diagnostics
Report Highlights
- Global POC market was worth nearly $13.4 billion in 2009, it is estimated to increase to $18.7 billion, at 5 year compound annual growth rate (CAGR) of 7.0%.
- The largest test blood chemistry and electrolyte market was nearly $2.1 billion in 2009. This is expected to rise to $3.8 billion in 2014, at a CAGR of 12.0%.
- Glucose monitoring test market reached approximately $7.7 million in 2009 and is projected to reach $9.9 billion in 2014, at a CAGR of 5.1%.
INTRODUCTION
STUDY GOALS AND OBJECTIVES
The goal of this study on the point-of-care (POC) industry is to describe this flourishing near-patient testing market. This report provides a complete review and analysis of the current POC markets as well as forecasts the market through 2014 in constant dollars. In addition, it provides an examination and description of products, current and emerging technologies, and company profiles.
The study also covers federal regulation of POC testing, international developments, and patents for POC testing technologies.
REASONS FOR DOING THE STUDY
Over the last few decades, there has been a strong trend toward POC testing due to an increasing demand for near-patient testing that provides rapid results. More tests are being performed at the hospital patient’s bedside, in physicians’ office laboratories, outpatient clinics, emergency rooms, and intensive-care units. Critical-care instruments combining selected important chemistry, hematology and hemostasis parameters have entered the market for POC testing in the emergency and operating rooms.
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.
Several reasons have emerged for this demand of POC testing, including staff shortages, older populations, long-term cost savings, faster diagnosis and care, and rural locations without conventional laboratory services. This study will address these areas and others.
SCOPE OF REPORT
This study will describe the market for POC Diagnostics at the global level. It focuses on the accelerating growth in this important diagnostic market segment and the key industry players. Specifically, the report:
- Describes the POC industry.
- Estimates the current and future market size.
- Provides breakdowns for U.S. markets.
- Describes product segments and the continuous updating of POC products.
- Analyzes market influences in the industry and predicts the changes that will shape the future POC market.
- Discusses trends within the market and provides a future outlook
- Reviews business activities of market leaders.
- Lists patents for POC technologies.
DEFINING POC
For the purpose of this study, POC testing includes those tests that are used outside the traditional laboratory. This can be a range of users, including patients, physicians, outpatient clinics, community health centers, and pharmacies. Tests included in this report are those that do not require any specialized training to perform and are performed easily and results produced in a minimal time frame.
METHODOLOGY
The information for this BCC report was obtained through primary and secondary data-collection methods. Primary methods included interviews with key representatives in the industry – product development managers, clinical specialists, government departments, and other key representatives involved in the diagnostic industry.
Secondary methods included published literature, investment reports, company literature, and various business journals that focus on diagnostic products and technologies.
Market data for this report pertains to the worldwide market, with specific U.S. data included. All information is displayed using U.S. dollars at the manufacturers’ level. The base year of the report is 2009, with historical data provided for 2007 and 2008, and forecast data provided through 2014. Historical, base year, and forecast data are provided for each of the 10 market segments in the report. Compound annual growth rates (CAGRs) are determined through a compilation of data, including past trends, future trends, demographics, incidence of disease, products in research and development, current product growth, and trends in government regulations. Competitor market share estimates are provided for each market segment for the 2009 base year.
ANALYST CREDENTIALS
Melissa Elder is an experienced healthcare market analyst, specializing in prescription and over-the-counter pharmaceuticals, medical devices, animal health products, and emerging healthcare technologies. Ms. Elder has more than 13 years of experience in the healthcare industry, specializing in market research for the past 10 years. This experience has given her substantial insight into pharmaceutical market analysis. Her work in the medical community, including emergency room medical training and healthcare information system coordination, has enhanced her ability to provide insight into many healthcare markets.
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DISCLAIMER
The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.
Frequently Asked Questions (FAQs)
Report Highlights
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POC testing revenue reached an estimated $5.05 billion in 2005 and is expected to grow at a 13.8% AAGR through 2010, yielding sales of nearly $9.65 billion.
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A major force driving the growth of this industry is the effort to provide better patient care by improving the time to treatment (TAT) that POC testing offers. Other forces include cost containment, the aging population, the increased incidence of certain diseases, and technological advances.
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Glucose testing meters and supplies accounted for 47.9% of POC sales in 2005 and are expected to grow at a 9.4% AAGR through 2010. The worldwide incidence of diabetes is predicted to double in the next 25 years.