The Asia-Pacific (APAC) point-of-care testing (POCT) market is expected to grow at a faster growth rate than the US and European markets. Key drivers include an increased appetite to adopt miniaturised technology and hospitals focusing on quicker turnaround times for test results to shorten length of hospital stay. Strong pipeline in product segments such as cardiac and infectious diseases diagnostics is expected to act as a major driver in the market in the next 5 years.
New analysis from Frost & Sullivan, Asia-Pacific Point-of-Care Testing Market, finds that the market earned revenues of US$3.09 billion in 2015 and estimates this to reach US$5.38 billion in 2020. The study covers POCT for blood glucose, cardiac markers, blood gas/electrolytes, HbA1c, pregnancy, anti-coagulation, and others. Demand is assessed in user segments such as hospitals, physician office labs, home care, retail clinics, and direct access testing in Japan, China, Australia, South Korea and India. Currently, the market is dominated by Alere, Abbott, Roche, Danaher and Siemens.
Near-term market opportunities in the APAC POCT market lie in traditional care settings such as hospitals. POCT can reduce length of hospital stay, emergency room (ER) overcrowding, and speed of diagnosis. In fact, it is preferred over central lab testing for patients in the ER, operation theatres, recovery rooms, cath labs, and intensive care units, as it gives early results. Out of these settings, however, doctors prefer laboratory tests that are less expensive and reliable for diagnostics for inpatients.
“Central laboratories still play an important role in the in vitro diagnostics market and hence POC is still in its early stages,” saidFrost & Sullivan Transformational Health Industry Manager, Sanjeev Kumar. “Since POC tests are expensive and used sparingly, they are assigned different codes in hospital data management system. This adds pressure on the billing process and increases the chances for errors.”
Selective opportunity exists in segments such as glucose POC, haematology, cardiac, and pregnancy testing. Since the use of POC is based more on the perception of physicians, stakeholders in the market are focussing on educating physicians. They are also using the rental model and selling products directly to save distributor and retailer costs.
“Further, manufacturers are moving from generation II models to miniaturised POC devices that can be controlled through wireless communication,” noted Kumar. “In the next 5 years, this technology is expected to revolutionise the care systems in hospitals and lower the length of stay of patients, eventually bringing down the cost of medical bills.”
In the long term, robust opportunities will emerge for POCT outside traditional care settings. For instance, oncology POC devices will be used in physician’s offices than in homes, and ophthalmology POC devices will be used by end users for self-diagnosis and monitoring of conditions such as macular degeneration, cataracts and glaucoma.
Asia-Pacific Point-of-Care Testing Market is part of the Life Sciences Growth Partnership Service program. Frost & Sullivan’s related studies include: US POCT Markets, European POCT Markets, US Autoimmune Diagnostics Market, EU Autoimmune Diagnostics Market, European Clinical Laboratory Market, December, US Clinical Laboratory Market, Global Liquid Biopsy Markets (End User Survey), amongst others. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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