The Asia
Pacific Point of Care (PoC) Diagnostics Market is
expected to reach USD 5,427.1 million by 2020, according to a new study by
Grand View Research, Inc. Growing base of geriatric population and the ability
to render immediate results and improve patient care coupled with rising market
penetration of PACS (picture archiving and communication systems) and EMR
(electronic medical records) are expected to drive demand over the next six
years.
Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expected to be key market factors.
Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expected to be key market factors.
The
rapidly growing use of point of care diagnostic products has introduced a
decentralization trend in the overall healthcare industry. Healthcare
facilities and patients, in an attempt to attain or cater medical facilities
remotely, encourage early diagnosis and curb costs are now decentralizing their
facilities. Furthermore, these trends have also triggered the establishment of
remote and stand alone diagnostic facilities.
Browse Details of Report @ http://www.grandviewresearch.com/industry-analysis/asia-pacific-poc-diagnostics-market
Further key findings from the study suggest:
- Glucose
testing segment dominated the market in 2013, accounting for over 29% of
total revenue. High prevalence of diabetes coupled with the requirement of
constant monitoring of blood sugar levels attribute to the aforementioned
fact. According to statistics published by the International Diabetes
Federation, the global prevalence of diabetes is expected to increase from
382 million in 2013 to 592 million in 2035, which is expected to have a
positive impact on glucose testing demand.
- The
infectious disease testing is expected to be the fastest growing product segment,
at an estimated CAGR of 16.2% from 2014 to 2020 with projected market
revenue of USD 478.50 million in 2020.
- Hospitals
and clinics together constitute the largest revenue share of the Asia
Pacific PoC market. Large volume of diagnostic tests performed in these
healthcare facilities and the growing demand for decentralized point of
care diagnostic facilities are two of the most important factors
attributing to their large market shares. Clinics based PoC diagnostics
market was valued at USD 1,104.51 million in 2013.
- Japan
dominated the Asia Pacific market in 2013, accounting for over 48% of
total market revenue. However, the region is expected to lose market share
by 2020, primarily due to faster growing markets such as India, Malaysia,
Indonesia and China. China followed Japan in terms of revenue share in
2013 owing to the presence of high unmet medical needs coupled with
constantly improving healthcare infrastructure.
- Some of the
key players of the Asia Pacific PoC diagnostics market include Roche Diagnostics,
Alere Inc., Danaher Corporation, Abbott Laboratories, bioMerieux, Siemens
Healthcare and others.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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