Global POC Lipid Testing Market 2017-2021

Global POC lipid testing market forecasts

As per the Technavio’s market research report, the global POC lipid testing market is expected to grow at a steady rate and post a CAGR of more than 6% during the forecast period. The increasing healthcare expenditure and the availability of reimbursement policies will drive the growth prospects for the global point-of-care (POC) lipid testing market till 2021. Factors such as improvements in technology, provision of cheap medical solutions, and the availability of high-quality medication solutions, will contribute to the growth of the global POC lipid testing market. The availability of reimbursement policies for POC lipid testing and the approval of the Clinical Laboratory Improvement Amendments (CLIA) to obtain these reimbursements are the major market drivers. Furthermore, efforts taken by the governments to reduce the length of hospital stay and curb the healthcare expenditure by using average length of stay (ALOS) as an indicator of efficiency, will also fuel the adoption rate of POC lipid testing solutions and point of care testing devices among patients.

Based on the POC lipid testing industry analysis, the Americas was the highest revenue contributor for the global POC lipid testing market during 2016. The region will continue to dominate the point of care testing devices market for the next four years as well since some instruments are available only in countries such as the US where the headquarters of all major manufacturers are established.

Competitive landscape and key vendors

The global POC lipid testing market is dominated by established companies that highly focus on the R&D activities for POC lipid testing instruments and consumables such as reagent kits and rapid test kits. These cholesterol devices manufacturers are increasingly competing against each other based on factors such as aggressive pricing, product differentiation, capital support for product and technology up gradation, distribution partnerships, and technological advancements in POCS. To meet the growing demand in the respective countries and to expand their geographical reach, several vendors in the point of care testing devices market are focusing on the high-growth economies such as China and India.

Key vendors in this market are -

• Alere
• F. Hoffmann-La Roche
• Abaxis

Other prominent vendors in the market include Accutech, Menarini, Bio-Rad, Biochemical Systems International, Eurotrol, General Life Biotechnology, Helena, and Nova Biomedical.

Segmentation by product and analysis of the POC lipid testing market

• POC lipid testing consumables
• POC lipid testing instruments

The POC lipid testing consumables segment was the highest revenue contributor towards the POC lipid testing market during 2016. POC testing consumables are less expensive, easy to handle, and can be used to treat the older population, which increases their usage in home healthcare settings. As a result, this segment will continue to dominate the point of care testing devices market during the predicted period as well.

Segmentation by end user and analysis of the POC lipid testing market

• Hospitals
• Clinical diagnostic laboratories
• Home healthcare settings

According to this market research report, the healthcare sector accounted for the majority market share during 2016 and will continue to dominate the point of care testing devices market in the coming years. The healthcare sector is the major end-user of POC lipid testing because a multitude of individuals prefer hospitals over other healthcare units since these hospitals have the advanced medical infrastructure and trained professionals to cater to the needs of the patients. Factors such as ease of use, better accuracy, and the immediate availability of results, will influence the demand for POC lipid testing in hospitals.

Key questions answered in the report include

• What will the market size, market forecast and the growth rate be in 2021?
• What are the key factors driving the global POC lipid testing market?
• What are the key market trends impacting the growth of the global POC lipid testing market?
• What are the challenges to market growth?
• Who are the key vendors in the global POC lipid testing market?
• What are the market opportunities and threats faced by the vendors in the global POC lipid testing market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global POC lipid testing market?

Technavio also offers customization on reports based on specific client requirement.