Point-of-care or point-of-use diagnostics, also known as bedside testing, has gained increased prominence in analytical testing over the past few years as it provides clinically relevant information without the need for a dedicated laboratory. Recent technological advancements in a host of microfluidic diagnostics platforms have consequently improved the functionality and performance of POC diagnostics. Constant advances such as device miniaturization, multiplexing of samples, and development of networking technologies have led to the evolution of advanced POC diagnostics. This has led to the advent of devices with higher specificity and sensitivity, which is helpful in boosting patient outcomes in a variety of clinical settings. Furthermore, POC diagnostics increases the availability of diagnostics and reduces the overall healthcare cost. As a result, POC diagnostics is expected to open up promising prospects in various areas, particularly critical care.
These are the latest findings of TMR Research (San Francisco, CA, USA), a provider of customized market research and consulting services.
POC diagnostic systems are used for various applications including glucose monitoring, infectious disease testing, cardiometabolic monitoring, hematology testing, pregnancy and fertility testing, fecal occult testing, and tumor/cancer testing. The increasing prevalence of infectious diseases and lifestyle-related diseases is driving the global demand for POC diagnostic systems. Continuous development in the field of information technology pertaining to healthcare is playing a key role in the growth of the global POC diagnostics market. Additionally, increasing investments by governments and private organizations towards the development of innovative diagnostic products are fuelling market growth. Moreover, rapid advancements in technologies and increasing focus of manufacturers on new product launches are boosting the POC diagnostics market. Furthermore, the increasing number of regulatory approvals for new and advanced immunoassay techniques is acting as a catalyst for market growth.
Despite numerous drivers, the growth of the POC diagnostics market is restrained by arduous and stringent regulatory policies, which are adversely affecting the gestation period for product launches. Moreover, pricing pressures due to lack of favorable reimbursement policies and budgetary constraints are limiting the widespread adoption of POC diagnostic systems.
Geographically, North America is expected to account for a substantial share of the global POC diagnostic systems market due to the rising prevalence of lifestyle-related diseases, increasing initiatives by governments to promote the development of novel healthcare products, and growing number of product approvals in the region. The Asia Pacific market is also expected to register a significant growth due to improving healthcare infrastructure, expanding patient base, high unmet medical needs and rising consumer expenditure on healthcare in the region.