Point of Care Diagnostics
The global point-of-care (POC) diagnostics market reached $13.4 billion in 2010 and is expected to reach $13.8 billion in 2011. It will further grow to $16.5 billion in 2016 for a compound annual growth rate (CAGR) of 3.7% between 2011 and 2016.
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
Melissa Elder is an experienced healthcare market analyst specializing in prescription and over-the-counter pharmaceuticals, medical devices, and emerging healthcare technologies. Ms. Elder has nearly 20 years of experience in the healthcare industry, specializing in market research for the past 14 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.
- 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%.
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.
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.
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.