North America Point-Of-Care Diagnostics Industry Size worth .76 billion by 20
Posted by MDFtrends on October 5th, 2017
According to the report North America Point-Of-Care Diagnostics Industry, published by Market Data Forecast, North America Point-of-care Diagnostics Industry was worth .78 billion in 2016 and estimated to reach .76 billion by the end of 2021 with a CAGR of 9.66%.
Point-of-care diagnostics allow a speedy, convenient, and cost-efficient way to diagnose diseases at healthcare centers and hospitals. Point-of-care diagnostics is a term collectively used for diagnostic procedures and tests performed on-site. As compared to conventional in-laboratory tests, point-of-care diagnostics have the advantage of speed and convenience without compromising on consistency. The speed factor, especially, is the greatest attribute of point-of-care diagnostics, because faster diagnosis facilitates faster patient management.
Browse Market data tables and in-depth TOC of the North America Point-Of-Care Diagnostics Industry to 2021 @ http://www.marketdataforecast.com/market-reports/north-america-point-of-care-diagnostics-market-1560/
North America point-of-care diagnostics Industry is at a fairly developed stage right now, as it is composed of products catering to the needs of various domains. Many advanced point of care diagnostic products are on the verge of being used practically and widely. But, more than innovative and advanced point-of-care devices, there is an extensive need for inexpensive solutions that can be set up in regions where infectious diseases are highly prevalent. In developing regions, these tests are crucial in counterbalancing the lack of adequate laboratory capacity. This is one of the most promising opportunities that can be grabbed by Industry players.
Advances in technology and introduction of cost effective and high quality medical solutions aimed at achieving miniaturization and lab automation are expected to serve the point-of-care diagnostics Industry as a vital driver. Clinics and other healthcare establishments, in order to provide effective and fast diagnostic results, are opting for point-of-care test, which are consequently influencing industrial growth. Moreover, rising levels of patient awareness are expected to play a key role behind growth on account of the fact that patients, particularly the ones suffering from long-term diseases such as diabetes, are actively participating in the shift relating to the implementation of point-of-care diagnostic practices. Development of information technology relating to health care systems plays an important role in the development of the point-of-care diagnostics Industry. The introduction of healthcare information systems such as EHR (e-health records) has essentially increased the penetration rates of these tests which enables considerable automation of diagnostic competences of any medical facility. However, there are some certain Industry restraints that players need to overcome. The effort and co-ordination required among healthcare centers, researchers, practitioners and manufacturers is the greatest restraining factor for the growth of point-of-care diagnostics Industry. Also, reluctance from the industry towards changing the existing norms, frequent product recalls, stringent regulatory framework and unfavorable reimbursement scenario are some of the challenges faced by the point-of-care diagnostics Industry.
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The North America point-of-care diagnostics Industry is segmented based on products, end-users and mode of delivery. Products have been segmented into Infectious Diseases, Cardiac Markers, Oncology Markers, OTC Diagnostic Tests, drugs of abuse, Blood Gas Testing, Fertility Testing, Urinalysis, Coagulation, Hematology, Glucose Monitoring, Ambulatory Chemistry, Decentralized Clinical Chemistry and others. By End-Users, the Industry has been further segmented as clinics, hospitals, home healthcare, ambulatory care settings, laboratories and others. Finally on the basis of delivery, the Industry has been segmented further into OTC and prescription modes of delivery.
On the basis of geography, the North America Industry is analyzed under regions namely United States and Canada. North America is expected to dominate the overall Industry in the next five years owing to the presence of premium healthcare infrastructure, established reimbursement framework and high healthcare affordability in this region. Moreover, the presence of high levels of awareness amongst the patient population base as well as the physicians associated with fast disease diagnosis is supportive in the industrial revenue.
Key Points from Table of Contents
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
North America Point-Of-Care Diagnostics Industry: Segmentation
Industry Leaders' Analysis
Some of the major players in this Industry are Abbott Laboratories, Inc., Danaher Corporation, Roche Diagnostics Limited, BioMerieux, Siemens Healthcare, Beckman Coulter, Inc., Becton, Dickinson and Company, Johnson &Johnson ,Alere Inc., and PTS Diagnostics.
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