POCT Market in the US 2015-2019
Market outlook of the POCT market in the US
Point-of-care testing (POCT) devices are used for medical testing purposes at or near the site of patient care. These devices generally include equipment like glucose monitoring devices, self-testing devices, and influenza testing devices. In the US, the market for POCT devices is predicted to exhibit steady growth during the forecast period and is facilitated by factors like the increasing healthcare expenditure and the development of accurate and rapid testing kits. These factors propel the prospects for growth in this market and results in its moderate CAGR of almost 6% by 2019.
Technavio’s market research analyst has estimated eminent factors, such as the rising demand for rapid and automated diagnostics, to drive market growth during the forecast period. Recently, it has been observed that patients prefer rapid automated tests in laboratories rather than traditional tests due to their high efficiency and rapid testing features. The ability of POC devices to eliminate transportation costs and extra costs pertaining to laboratory licensure standards are expected to result in the augmented adoption of POCT devices during the forecast period.
Segmentation by application and analysis of the POCT market in the US
- Blood glucose testing
- Infectious disease testing
- Cardiac markers testing
- Coagulation testing
- Pregnancy and fertility testing
- Blood glucose/electrolyte testing
- Tumor markers testing
- Urinalysis testing
- Cholesterol testing
In this market study, analysts estimate the infectious disease testing segment to exhibit the highest market growth rate during the forecast period. The recent increase in the incidence of sexually transmitted diseases, tuberculosis, and respiratory diseases is a critical factor that propels growth in this segment and results in its impressive market growth rate of more than 9% by 2019.
Competitive landscape and key vendors
The POCT market in the US is extremely competitive and is primarily dominated by prominent players like Alere and Abbott Diagnostics. The smaller vendors in this market focus on product development and various marketing strategies to improve their position in the market. Moreover, the formation of strategic alliances for the marketing or manufacturing of test strips and blood glucose meters is expected to intensify the level of competition between vendors during the forecast period.
Key vendors in this market are -
- Abbott Diagnostics
- Roche Diagnostics
Other prominent players analyzed in this market research are Abaxis, Acon Laboratories, Avioq, Bio-Rad Laboratories, Cavidi, Cepheid, Chembio Diagnostic Systems, Clarity Diagnostics, Hologic, Thermo Fisher Scientific, Landwind Medical, Mindray, i-Sens, Nipro Diagnostics, Randox Laboratories, Span Diagnostics, Sysmex, Trivitron Healthcare, and URIT.
Growth drivers, challenges, and upcoming trends - POCT devices
Technavio market research analysts estimate upcoming trends, such as the advent of low-cost microfluidic devices for POCT, to incite market growth during the forecast period. Nano or microfluidic technologies are rapidly emerging as a powerful tool to detect, diagnose, and monitor infectious diseases. This technology offers advantages like low reagent usage, low power consumption, rapid analysis, and functional integration of multiple devices. The benefits offered by this technology are expected to result in its augmented adoption in laboratories, which in turn leads to market growth during the forecast period.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the POCT market in the US. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the POCT market in the US?
- What are the key market trends impacting the growth of the POCT market in the US?
- What are the challenges to market growth?
- Who are the key vendors in the POCT market in the US?
- What are the market opportunities and threats faced by the vendors in the POCT market in the US?
- Trending factors influencing the market shares of the US?
- What are the key outcomes of the five forces analysis of the POCT market in the US?
Technavio also offers customization on reports based on specific client requirement.