Global Market for P.O.C. Diagnostics to Reach $19.3 Billion in 2018

May 01, 2014

BCC Research (www.bccresearch.com) reveals in its new report, POINT OF CARE DIAGNOSTICS,the global market for point of care (POC) diagnostics is expected to grow to nearly $19.3 billion by 2018, with a five-year compound annual growth rate (CAGR) of 4.5%.  The United States (U.S.) market, the fastest growing regional segment overall, is growing at a steady 4.9% CAGR.

Rising healthcare staffing shortages, technological advances, and increasing consumer demand and acceptance of POC technology is driving significant growth in the global POC diagnostics market. The U.S. market is expected to reach $9.9 billion by 2018.

The international market, which is projected to reach $9.3 billion and register a 4.1% CAGR, is being spurred by increasing need for the management of chronic diseases, improving access to healthcare, and a steadily improving global economy.

“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," says BCC Research healthcare analyst Melissa Elder. “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 provides an overview of the global market for POC diagnostics, including analyses of global market trends, with data from 2012 and 2013, and estimates and projections of CAGRs through 2018. The report discusses factors driving the market, such as staff shortages, older populations, long-term cost savings, and need for faster diagnosis and care. It also looks at how availability of POC testing has revolutionized the continuum of the patient-care process.

SAMPLE FIGURE
FORECAST OF THE GLOBAL POC MARKET, 2009-2018
($ MILLIONS)
FORECAST OF THE GLOBAL POC MARKET, 2009-2018
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Source: BCC Research

This report is intended for all the stakeholders of the near-patient diagnostic testing market, including diagnostic test manufacturing companies, medical supply vendors, hospitals, physician offices and groups, development companies, and other involved participants. 

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.

Point of Care Diagnostics( HLC043D )
Publish Date: Apr 2014    

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.