APAC POCT Device Market is expected to reach USD 4.66 billion by 2024 from USD 2.31 billion in 2016, at a CAGR of 9.2% in the forecast period 2017 to 2024.
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The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
APAC Point-of-care Testing (POCT) Market By Product (Blood Glucose Testing Kits, Cardiometabolic Monitoring Kits, Infectious Disease Testing Kits, Cholesterol Testing Kits, Pregnancy & Fertility Tests Kits, Tumor/Cancer Markers, Urinalysis Testing Kits, Cholesterol Test Strips, Hematology Testing Kits, Drugs Of Abuse Testing Kits, Fecal Occult Testing Kits, Rapid Coagulation Testing Kits, & Others),By Prescription Mode (Prescription Based Testing & Over-The-Counter Testing),By Distribution Channel (Direct Tenders & Retail),By End User (Hospital, Clinics, Ambulatory Care, Home Healthcare, & Research Laboratory), By Country (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Singapore, Indonesia, Philippines and Rest of APAC) – Trends and Forecast to 2024
The major factors driving the growth of this market include the rising prevalence of modern lifestyle, increase in chronic and infectious diseases, advancement in technology, scope for unmet medical needs and emerging POCT device. These factors increase the demand for devices such as blood glucose meter, CRP, HBA1c, homocystein.
On the other hand, rising costs of POCT device and low reimbursement scenario are regulatory hurdles that may hinder the growth of the market.
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APAC Point-of-Care Testing (POCT) Market Segmentation:
The APAC POCT Device Market is segmented on the basis of product type, prescription mode, distribution channel, end user, and geography.
On the basis of prescription mode, the APAC point-of-care testing market is segmented into prescription based testing and over-the-counter (OTC) testing. The OTC testing is projected to witness higher growth rate of 9.7% during the forecast period to reach a value of USD 1.68 billion by 2024.
On the basis of distribution channel, the APAC point-of-care testing market is segmented into direct tenders and retail. In 2017, the direct tender market is expected to dominate the market with a value of USD 1.67 billion.
On the basis of end users, the APAC point-of-care testing market is segmented into hospital, clinics, ambulatory care, home healthcare, and research laboratory. In 2017, the hospital segment is expected to dominate with the market share of 33.2% and is expected to continue this trend till 2024.
APAC Point-of-Care Testing (POCT) Market Key Points:
Hoffmann La Roche Diagnostics Limited is dominating the APAC POCT device market major players followed by Abbott, Alere Inc., Siemens AG, Becton, Dickinson and Company, Johnson & Johnson Services Inc., PTS Diagnostics, Instrumentation Laboratory, Nova Biomedical, Beckman Coulter, Inc., Werfenlife and others.
Read more about the APAC Point-of-Care Testing (POCT) Market Report at databridgemarketresearch.com/repor…ting-poct-market/
- Over-the-counter testing market is growing with the highest CAGR.
- Globally blood glucose testing kits are driving the market with the highest market share. However, cardiometabolic monitoring kit is growing with the highest CAGR.
- Blood glucose testing kits are dominating the product type of APAC POCT device market.
APAC Point-of-Care Testing (POCT) Market Key Drivers:
- Rising cost of POCT devices and low reimbursement scenario are the factors which may hinder the growth of this market.
- Many companies are making continuous efforts and advances to make products more relevant, along with propelled innovations with reduced sample volume or less blood on portable devices.
- Scope for unmet medical needs as well as emerging POCT device will drive the market in future.
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