Market Synopsis:
Rapid developments in healthcare, in conjunction with, increasing need for healthcare services has paved the way for the adoption of point of care technology. The assessment provided by Market Research Future (MRFR) reveals that the global point of care technology market is anticipated to gain traction in the upcoming years and record a CAGR of 9.5% across the forecast period (2017 to 2023).
The market’s growth is projected to be driven by the innovations in technology. In addition, the rising prevalence of chronic diseases is also prognosticated to expand the point of care technology market over the next few years. However, the burden of investment cost is likely to check the growth of the point of care technology market over the next couple of years.
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Market Segmentation
The global point of care technology market segmentation is divided on the basis of type of products and end-users.
By type of products, the market is divided into cardiac markers, HbA1c testing, glucose testing, and coagulation, and others.
By end-users, the market comprises of hospital, ambulatory care, home care, clinics, and others.
Market-Competitive Landscape
The global point of care technology market is currently dominated by several players. The well-established market players are engaged in strategic acquisitions, collaborations, partnerships, global expansion, and product launches to gain the competitive advantage in this market and to maintain their market position.
In July 2017, Siemens Healthineers entered into an agreement to acquire Epocal Inc., a subsidiary of Alere Inc. Epocal Inc. offers point-of-care blood diagnostic systems for healthcare enterprises, which includes the epoc Blood Analysis System, wireless testing solution. With this acquisition, Siemens Healthineers increased its existing offerings in point of care diagnostics.
In June 2017, Nova Biomedical announced the grant of CE mark to Allergo analyzer, a point-of-care testing blood analyzer. Allegro analyzer along its StatStrip A companion meter provides 14 tests to monitor glucose in the blood, assessment of cardiac risk with a full lipids panel, and assessment of kidney function.
In January 2017, Werfen and its subsidiary Instrumental Laboratory (IL) acquired Acccriva Diagnostics, a leading company in in-vitro diagnostics blood testing at the Point-of-Care (POC). With this acquisition, Instrumental Laboratory established a leading position in hospital-based POC hemostasis testing and expanded its market position in Point-of-Care (POC) Critical Care testing.
In May 2016, Quidel Corporation announced the acquisition of the InflammaDry and AdenoPlus diagnostic businesses from RPs Diagnostics, a developer and manufacturer of rapid, point-of-care diagnostic tests for the eye health and primary care markets.
In December 2016, LifeScan, Inc., a unit of Johnson & Johnson Diabetes Care, received approval from US Food and Drug Administration (FDA) for the integration of its OneTouch Verio Flex blood glucose monitoring system with WellDoc’s BlueStar Diabetes Management Platform.
In April 2016, F. Hoffmann-La Roche Ltd. launched cobas infinity Point-of-Care mobile app that was designed to enable point-of-care coordinators (POCCs) to manage all the tasks on a smartphone or tablet and thus increasing their productivity.
Regional Analysis
On regional basis, the point of care technology market is segmented into the Americas, Europe, Asia-Pacific and Middle East & Africa. North America is anticipated to dominate the global market during the forecast period. The market growth in this region is attributed to the huge investment in the healthcare sector coupled with strong economic conditions in the region which favor the research and development activities in the healthcare sector. Moreover, rising demand for point of care technology products is expected to contribute to the market growth. Europe is the second largest market due to the increasing investment in research and development activities and presence of well-developed healthcare sector. Additionally, Asia-Pacific is estimated to be the fastest growing market owing to the increasing demand for rapid diagnostics and rising prevalence of chronic diseases. The Middle East & Africa is expected to hold the lowest market share in the global point of care technology market due to lack of technical knowledge and poor medical facilities, especially in the African region.
Table of Contents
1 Report Prologue
2 Market Introduction
2.1 Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
4.1 Drivers
4.2 Restraints
5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Supply Chain Analysis
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