Boston, MA -- (ReleaseWire) -- 04/23/2014 -- Point-Of-Care Diagnostic Market by Products (Glucose Monitoring & Infectious Diseases Testing Kits, Cardiac & Tumor Markers), by End Users (Self & Professional Monitoring), Over the Counter & Prescription Based - Global Forecast to 2018
The global POC diagnostics market is estimated to grow at a lower CAGR in developed countries; however, it is expected to witness high growth in emerging countries such as China, India, and Brazil. Factors such as rising prevalence of lifestyle and infectious diseases, increasing usage of home-based POC devices, technological advancements, and decreasing number of technicians in the central labs are propelling the growth of the POC diagnostics market. However, factors such as lack of alignment with definitive central lab methods, reluctance to change existing treatment practices and the recall of leading glucose monitoring devices are restraining the growth of this market.
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In this report, the global POC diagnostics market has been segmented on the basis of category (infectious diseases testing kits, glucose monitoring kits, cardiac markers, pregnancy and fertility testing kits, and others) and end users (patient professional monitoring kits and patient self-monitoring kits). The glucose monitoring kits market held the largest share-53.7%-of the global POC diagnostics market in 2013, followed by the infectious diseases testing kits market. Factors such as rising global prevalence of diabetes, technological advancements in self-monitoring of blood glucose, and the growing patient awareness toward POC testing are stimulating the growth of the glucose monitoring kits market.
The fastest-growing segment-cardiac-markers market-is projected to grow at a CAGR of 15.3% from 2013 to 2018. This growth is mainly attributed to the increasing number of cardiac patients and the demand of immediate diagnosis of the diseases. Major players such as Roche (Switzerland), Abbott Laboratories, Inc. (U.S.), Siemens AG (Germany), Beckman Coulter, Inc. (U.S.), and Alere Inc. (U.S.) are adopting several growth strategies such as new product launches, partnerships, agreements, collaborations, joint ventures, and mergers and acquisition in order to keep pace with the evolving industry trends.
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