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04-Feb-2021

PoC Platform & Technology Market Is Projected to Be Around US$ 45.4 Billion With Healthy CAGR of 8.9% by 2025

PoC Platform & Technology Market

The point-of-care (PoC) platform aids in rapid diagnosis and monitoring of tests and is a convenient tool for healthcare providers and patients. Electronic health records (EHR) offer test results that aid in rapid diagnosis of diseases, thereby promoting rapid decision making and early treatment of diseases. PoC tests and devices help to deliver cost and time efficient care that enhances treatment outcomes of patients. PoC tests also facilitate accurate evidence-based triage and diagnostic decisions within fraction of time compared to the time taken by centralized laboratory tests in order to overcome the problem of latency in test results.

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The global PoC platform & technology market was valued at US$ 21,370.3 Million in 2016 and is expected to exhibit a robust CAGR of 8.9% over the forecast period (2017 – 2025).

Figure 1. Global POC Platform & Technology Market Value (US$ Mn), by Region, 2016

Source: Coherent Market Insights (2018)

Increasing prevalence of infectious and chronic diseases is expected to boost growth of the market

PoC devices enable healthcare providers to make decisions in patient’s vicinity, which results in significant healthcare delivery with faster results and immediate clinical management. The novel point-of-care tests aid in preventing and treatment of infectious diseases such as HIV, Hepatitis B Virus, and chronic diseases such as diabetes, cancer, and cardiovascular disorders. Increasing prevalence of infectious and chronic diseases is expected to boost growth of the market. For instance, according to the International Journal of Nanomedicine, in 2017, around 36.7 million people were affected by Human Immunodeficiency Virus (HIV) and around 400 million people were affected by viral hepatitis worldwide. The survey also stated that with no reliable treatment for HIV infection, early diagnosis is a critical factor in managing AIDS patients, as it is a major cause for morbidity and mortality globally. Moreover, PoC technologies aid in effective monitoring of heart rate, inflammation threats, and heart failure that can potentially avert complications, reduce economic burden, and improve patient care across diverse medical and home care settings. According to the American Heart Association, cardiovascular diseases account for 17.3 million deaths per year globally and by 2030, around 23.3 million people are expected to die from CVD.

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Increasing prevalence of cancer and diabetes is also expected to boost growth of the market. Monitoring of glucose, hemoglobin, ketones, and other factors help in early detection and prevention of diabetes-related acute and chronic complications. It also influences the process of care and management of patients with diabetes. According to National Cancer Institute, in 2016, around 16.8 million new cases of cancer were diagnosed in the U.S., with around 595,690 deaths from the same disease. The number of people suffering from cancer is expected to rise to 19 million by 2024. According to the Global Diabetes Community, in 2017, around 422 million adults suffer from diabetes globally, where the number is expected to escalate to 642 million by 2040.

Minimal requirement of technical expertise and portability offered by the novel point-of-care testing devices to accelerate the market growth

Lack of skilled healthcare professionals increases demand for accurate, intuitive tests that can be operated by less skilled professionals and patients using home-based devices for better patient outcomes. According to the World Health Organization (WHO), the global healthcare sector was facing a shortage of 7.2 million healthcare personnel in 2013 and is expected to face a shortage of 12.9 million by 2035, specializing in various sectors. PoC testing devices offers the same results in less time compared to other heavy devices and are portable. Moreover, decrease in size of these testing devices and assays make them suitable for use in ambulance services and at patient’s bed side. These devices offer easy operation and functioning, which makes them convenient for patients in homecare settings.

Major players operating in the global POC platform & technology market include Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories, Siemens Healthineers, and LifeScan, Inc.

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Detailed Segmentation:

  • Global POC Platform & Technology Market, By Technology:
    • Lateral Flow-Based Assays
      • Colloidal Gold Label
      • Colored Latex Particle Label
      • Paramagnetic Monodisperse Latexes
      • Fluorescence Immunoassay
        • Traditional Fluorescence Immunoassay
        • Time Resolve Fluorescence Immunoassay
        • Upconverting Nanoparticles Immunoassay
        • Quantum Dot Immunoassay
    • Enzyme Labels
    • Microfluidics
    • Biochips
    • Biosensors
    • Medical MEMS
    • Agglutination
    • Solid Phase
    • Lab-on-a-chip
    • Chemiluminescence Based Systems
  • Global POC Platform & Technology Market, By Application:
    • Diagnostic and Monitoring
    • Drug Development and Quality Testing
  • Global POC Platform & Technology Market, By End User:
    • Hospitals
    • Clinics
    • Laboratories
    • Home Care Settings
    • Others
  • Global POC Platform & Technology Market, By Geography:
    • North America
      • By Technology:
        • Lateral Flow Based Assays
          • Colloidal Gold Label
          • Colored Latex Particle Label
          • Paramagnetic Monodisperse Latexes
          • Fluorescence Immunoassay
            • Traditional Fluorescence Immunoassay
            • Time Resolve Fluorescence Immunoassay
            • Upconverting Nanoparticles Immunoassay
            • Quantum Dot Immunoassay
        • Enzyme Labels
        • Microfluidics
        • Biochips
        • Biosensors
        • Medical MEMS
        • Agglutination
        • Solid Phase
        • Lab-on-a-chip
        • Chemiluminescence Based Systems
      • By Application:
        • Diagnostic and Monitoring
        • Drug Development and Quality Testing
      • By End User:
        • Hospitals
        • Clinics
        • Laboratories
        • Home Care Settings
        • Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Technology:
      • By Application:
      • By End User:
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Technology:
      • By Application:
      • By End User:
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Technology:
      • By Application:
      • By End User:
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Technology:
      • By Application:
      • By End User:
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Technology:
      • By Application:
      • By End User:
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
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Last Updated: 04-Feb-2021