“Point-of-Care (POC) testing is an immediate testing service performed within close proximity of the patient. Global POC diagnostic devices market has been classified into three segments such as by application, by end user and by technology, providing exhaustive value analysis for the year 2014 and forecast to 2020. This market has been growing at a very rapid pace for the last few years and is projected to grow with a healthy CAGR of 10.65% through 2020 to generate $34 billion.
The North American market followed by Europe account for the largest share in the global POC diagnostic devices market in 2014. It is estimated to grow at a CAGR of 10.01% from 2015 to 2020. Good clinical and economic outcome, increase in aging population and obesity are main factors that are steering the market. The U.S. constitutes a major share in healthcare industry. Majority of POC devices are applicable for chronic diseases and in North America, where nearly 1 in 2 adults live with at least one chronic disease, according to the Centers for Disease Control and Prevention (CDC). The APAC region is poised to grow with the highest CAGR of 11.95% during the forecast period, owing to APAC’s rapidly aging population and higher obesity rates when compared to North America, Europe and rest of the world.
Regular blood glucose monitoring is mandatory for diabetes patients and the majority of POC diabetic testing devices are utilized by them. Patient self-testing dominated the POC diabetic testing devices market in 2014 and also is projected to grow with the highest CAGR through 2020. According to World Health Organization (WHO), the percentage of diabetic patients in the world population was 2.8% in 2000 and it is estimated grow up to 4.4% by 2030. Keeping these factors in mind, the companies which are manufacturing POC devices at least have blood glucose monitoring systems in their product portfolio. Roche point-of-care, Alere Inc., Siemens Health, Bayer Diabetes Care and Abbott...