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Point-of-Care Diagnostics Market in US - Industry Outlook and Forecast 2019-2024

SKU : ARZ181206
  • Published on : February 2019

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This market research report on the US point-of-care diagnostics market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (POC analyzers and consumables), by application (blood glucose testing, cardiovascular and metabolic testing, infectious disease testing, blood coagulation testing, hematology testing, cancer testing, drugs of abuse testing, and pregnancy and fertility/ovulation testing), by usage type (professional POC diagnostics and at-home POC diagnostics), and by end-users (professional healthcare settings, home care, and others).

US Point-of-Care Diagnostics Market - Overview

The dynamic changes in the healthcare industry and increasing focus on patient-centered services will propel the demand of point-of-care diagnostics in the US. The implementation of reforms and policies that enable professionals to provide cost-effective and high-quality care to patients is revolutionizing the POCT market. POC testing is emerging as an alternative diagnostic model especially for people residing in remote locations of the country. The increasing awareness about diseases and focus on early diagnosis and disease prevention is contributing to the development of the US point-of-care diagnostics market. The growing popularity of homecare or self-monitoring of diseases, especially self-blood glucose monitoring is contributing to the growth of point-of-care diagnostics distribution network. The advent of remote healthcare & patient monitoring, miniaturization of diagnostic devices, wearable medical devices, and growing usage of smartphones for healthcare applications are some of the key factors contributing to the revenues in the US market. The growing popularity of self-testing modules and growth of the in-vitro diagnostics industry will create lucrative opportunities for the leading vendors operating in the US market. The rise in the number of rapid-onset and life-threatening conditions such as sepsis and acute cardiac infarction and will boost demand for POC systems in the US market. The ability of POCTs to deliver immediate results thus providing improved patient care will improve, deliver faster and accurate results in the market. This system will also increase the penetration of EMR/HER, remote patient monitoringself-testing and telehealth in the US market. The increasing awareness about disease management and self-monitoring will drive revenues in the US point-of-care diagnostics market.

The emergence of wearable medical devices, lab-on-a-chip technology, and growing usage of smartphones is driving the demand for point-of-care devices in the US market. The growing availability of rapid tests for diagnosing infectious diseases like HIV, TB or malaria, that enable physicians and patients to visualize the results from a smartphone and take appropriate clinical decisions will transform the market over the next few years. The US point-of-care diagnostics market is expected to generate revenues of around $11 billion by 2024, growing at a CAGR of more than 7% during 2018-2024.

Point-of-care market in US - Market overview and growth forecast 2024

US Point-of-Care Diagnostics Market – Dynamics

The recent development of microfluidic-based POC devices will transform the US point-of-care diagnostics market during the forecast period. The rising application of microfluidic technologies to develop and commercialize advanced clinical diagnostic analyzers will lead to the launch of innovative POC systems in the US market. Some of the most commonly used microfluidics-based analyzers in the market are blood chemistries, nucleic-acid amplification tests, immunoassays, and flow cytometry. This process used the ability to extensive use of complex multiplexing approaches and formats, the capacity for inclusion of sequential sample pre-conditioning steps of different types, reagent storage, the use of multiple steps involving reagent addition, mixing and washing, the potential for incorporation of centrifugal steps at various speeds, and the application of a range of detection strategies leading to greater sensitivity and clarity of results. The growing use of POC systems in ambulatory care and physician offices for accurate clinical decision making will contribute to the profitability in the US point-of-care diagnostics market.

US Point-of-Care Diagnostics Market – Segmentation

This market research report includes a detailed segmentation of the market by product, technology, usage type, and end-users.

Point-of-care market segments in US

US Point-of-Care Diagnostics Market – By Product

Patient-centered approaches of PCOT systems will drive the demand for consumables in the US point-of-care diagnostics market

The US point-of-care diagnostics market by product is segmented into POC analyzers and consumables. Consumables segment dominated more than half of the total market share in 2018, growing at a CAGR of approximately 8% during the forecast period. The increasing use of various rapid tests across emergency care, physician offices, ambulatory settings, nursing homes, and by individuals for diagnosing various diseases is propelling the growth of this segment in the US market. The rapid tests are used for diagnosing diseases such as infectious diseases, diabetes, cancer, and other metabolic diseases in the market. The vendors are offering a diverse range of consumables catering to end-user requirements and that are patient-center approaches to gain the maximum consumers in the US market. Some of the most common POC consumables available in the US point-of-care diagnostics market are reagents, immunodiagnostic test kits, blood glucose test strips, and pregnancy and fertility test kits.

The growing incidences of various acute and chronic diseases such as cardiovascular diseases, hepatitis, HIV, cancer, chronic kidney disease, diabetes, and sexually transmitted diseases (STDs) is boosting the demand for POC analyzers in the market. The introduction of automated and compact POC analyzers that help improve the efficiency and quality of the operations will drive the demand for these devices in the US point-of-care diagnostics market.

US Point-of-Care Diagnostics Market – By Application

Introduction of advanced POC analyzers for infectious disease testing will transform the US point-of-care diagnostics market

The application segment in the US point-of-care diagnostics market is classified into blood glucose testing, cardiovascular and metabolic testing, infectious disease testing, blood coagulation testing, hematology testing, cancer testing, drugs of abuse testing, and pregnancy and fertility/ovulation testing. Infectious disease testing is the fastest growing technology segment in the US market, at a CAGR of around 11% during the forecast period. The launch of POC diagnostics and rapid test kits providing accurate and quick diagnostics is propelling the growth of this segment in the US market. The use of these rapid tests will help reduce the use of unnecessary antibiotics and result in the cost-effective and quick decision-making process in the market. Leading companies such as Roche Diagnostics is offering advanced POC analyzers for infectious disease testing and boosting the demand in the US point-of-care diagnostics market.

The rapid adoption of various self-testing blood glucose devices that offer portability and convenience will augment the development of the US market. The growing demand for POC cardiometabolic testing will enable easy disease management and monitor cardiometabolic conditions such as cardiac markers, lipid analysis, blood gases, HbA1C, and cholesterol levels on a real-time basis. The vendors are introducing a broad range of rapid test for cancer screening and detection for reliable, fast, and non-invasive diagnostic tests to gain a larger US point-of-care diagnostics market share.

US Point-of-Care Diagnostics Market – By End-User

Professional healthcare settings use the highest number of POC diagnostic devices and rapid tests in the US point-of-care diagnostics market

The US point-of-care diagnostics market by end-user is categorized into professional healthcare settings, home care, and others. The professional healthcare segment occupied more than half of the total market share in 2018, growing at a CAGR of around 7% during the forecast period. The increasing use of point-of-care diagnostics technology for detecting of acute and chronic diseases is fueling the growth of this segment in the US market. The increasing incidences of chronic illnesses, such as diabetes, HIV, cancer, and heart diseases and acute diseases like sepsis, respiratory tract infections (RTIs), and antibiotic resistance is driving the demand for these services in the US market. The increasing use of medical diagnosis, biosensors, and point-of-care testing devices is augmenting the development of this segment in the US market. The government initiatives aimed to promote the use of point-of-care diagnostic tests will boost revenues in the US point-of-care diagnostics market over the next few years.

The increasing use of self-monitoring devices and test kits as an early symptom management tool and to manage high-risk chronically ill patients will drive the growth of the home care segment in the US market. These test kits also find applications across the academic and research institutes, military, and non-profit organizations in the US point-of-care diagnostics market.

US Point-of-Care Diagnostics Market – By Usage

The popularity of self-testing and screening kits in the home care set-up is attributing to profits in the US point-of-care diagnostics market

The usage segment in the US point-of-care diagnostics market is divided into professional POC diagnostics and at-home POC diagnostics. At-home POC diagnostic is the fastest growing segment in the US market, at a CAGR of more than 7% during the forecast period. The cost-effective and quick results of this procedure are augmenting the growth of this segment in the US market. The increasing availability of self-testing kits available for diagnosing UTIs and other acute infections, assess fertility by way of ovarian egg reserve, and check for STDs is contributing to the development of the at-home care setup in the US market. These tests are designed to offer quick, cost-effective, and confidential information at the convenience of the patient’s home. The increasing awareness about the self-testing and screening kits will contribute to the major revenues in the US point-of-care diagnostics market.

The professional healthcare setup consists of physician office labs, clinics, emergency care centers, critical care in hospitals, nursing homes, community care centers, home care centers like geriatric and pediatric care centers. The increasing launch of many innovative and compact POC analyzers and the rapid test will contribute to the growing revenues in the US point-of-care diagnostics market.

Key Vendor Analysis

The US point-of-care diagnostics market is highly dynamic due to the presence of several international and regional players operating in the region. The vendors are offering a diverse range of analyzers and kits to attract the maximum number of consumers in the US market. Strategical partnerships and consolidation will positively impact the development of the competitive landscape in the US. Effective strategies such as the expansion of product offerings, accessing new technology, and increasing market share will help companies survive the intense competition in the US point-of-care diagnostics market.

The major vendors in the US market are:

  • Abbott
  •  F. Hoffmann-La Roche
  • Siemens Healthineers

Key companies to watch are:

  • Danaher
  • LifeScan
  • Ascensia Diabetes Care Holdings
  • Quidel
  • BD

Other prominent vendors include Abaxis, Acon Laboratories,  AgaMatrix, Arbor Vita, bioMérieux,  Chembio Diagnostic Systems EKF Diagnostics USA, Exact Sciences, Instrumentation Laboratory, Meridian Bioscience, Sekisui Diagnostics, Sinocare, Sysmex America, Swiss Precision Diagnostics and Trinity Biotech.

Key market insights include

  1. The analysis of US point-of-care diagnostics market provides market size and growth rate for the forecast period 2019-2024.
  2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the US point-of-care diagnostics market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of US point-of-care diagnostics market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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