Portland, OR -- (SBWIRE) -- 02/21/2018 -- Glucose monitoring kit was the leading segment in 2015 and is expected to continue dominance throughout the forecast period. North America would continue its lead, accounting for more than two-fifths share of the global point of care diagnostics market in 2015.

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The Global Point Of Care Diagnostics Market size was valued for $22,975 million in 2015 and is expected to reach $43,336 million by 2022, growing at a CAGR of 9.4% from 2016 to 2022. The point of care (POC) diagnostics defined in this report are the medical devices used to get an immediate result in the investigation (diagnosis & monitoring) of various diseases such as cancer, diabetes, cardiac diseases, and others.

Increasing prevalence of various chronic and infectious diseases across the world

Increase in prevalence of various chronic and infectious diseases such as cardiac diseases, hepatitis, cancer, gastrointestinal, respiratory, and sexually transmitted diseases (STDs) play a pivotal role in the growth of the global point of care diagnostics market share. Moreover, changes in life style patterns also cause several medical conditions, such as diabetes, hypertension, and obesity, which require point of care diagnostics devices for their diagnosis & monitoring.

For instance, according to the American Heart Association, cardiac diseases are one of the leading causes of death worldwide, accounting for 17.3 million deaths per year and projected to grow over 23.6 million by 2030.

Similarly, according to the World Health Organization (WHO), in 2012, 14.1 million new cases of cancer were reported and are expected to reach 15.5 million by 2030. Thus, this increase in prevalence of various chronic and infectious diseases fuels the demand for POC diagnostic devices and thus will drive the point of care diagnostics market growth.

According to the International Diabetes Federation (IDF), developing countries, such as India and China, are expected to have the highest number of diabetes mellitus patients compared to developed countries, such as U.S. and Germany. The number of patients with diabetes mellitus is expected to reach 87 million in India and 62.6 million in China compared to 36 million in U.S. by 2030. This increase in incidence of various diseases in various parts of the world is expected to drive the POC diagnostic procedures.

KEY BENEFITS

The study provides an in-depth analysis of the global industry with current point of care diagnostics market trends and future estimations to elucidate the imminent investment pockets in the market

The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities

Extensive analysis of the global point of care diagnostics industry, by product, explains various types of devices used in the diagnosis of various diseases

Competitive intelligence highlights the business practices followed by leading market players across different geographical regions

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Key market players within the point of care diagnostics market are profiled in this report and their strategies are analyzed thoroughly, which predicts the competitive outlook of global point of care diagnostics market.