Point-of-Care Diagnostics Market: Drivers, Restraints, Opportunities, and Challenges
The global Point-of-Care Diagnostics market is projected to reach USD 38.13 Billion by 2022 from USD 23.71 Billion in 2017, at a CAGR of 10.0% during the forecast period. The report covers the Point-of-Care Diagnostics market across four major geographies
(EMAILWIRE.COM, September 20, 2018 ) Drivers:
1 High Prevalence of Infectious Diseases in Developing Countries
2 Increasing Incidence of Target Diseases
3 Rising Usage of Home-Based POC Devices
4 Growing Government Support
5 Technological Advancements and New Product Launches
6 Growing Number of Regulatory Approvals for Novel Immunoassay Techniques
7 Shortage of Skilled Laboratory Technicians
8 Rising Number of Clia-Waived POC Tests
Restraints:
1 Product Recalls: Hampering User Confidence
2 Pricing Pressure Owing to Reimbursement Cuts and Budget Constraints
3 Stringent and Time-Consuming Regulatory Policies are Significantly Increasing Gestation Period for Product Launches
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Opportunities:
1 Growth Opportunities in Emerging Markets
2 Healthcare Decentralization —Converting Lab Tests to POC Tests
3 Increasing Number of Conferences and Events
4 POC Tests With Multiplexing Capabilities
Challenges:
1 Lack of Alignment With Definitive Central Lab Methods
1.1 Disadvantages of POC Testing Over Central Lab Methods
2 Inadequate Knowledge About the Use of POC Devices in Professional Settings
3 Reluctance Towards Changing Existing Diagnostic Practices
4 High Cost of Devices
Market Key Players:
The major players of the Point-of-Care Diagnostics market are Abbott (US), Roche (Switzerland), Siemens (Germany), Danaher (US), Becton, Dickinson, and Company (US), Johnson & Johnson (US), Instrumentation Laboratory (US), PTS Diagnostics (US), Quidel (US), Chembio (US), Sekisui Diagnostics (US), Nova (US), EKF Diagnostics (UK), AccuBioTech (China), and Trinity Biotech (US).
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