The Global And Chinese POCT Consumption Market

Date: 2015-12-08

POCT (Point-of-care testing) or bedside testing is defined as medical testing at or near the site of patient care; it is a new niche of in vitro diagnostic industry.

Across global market, the consumption of POCT reached $16 billion in 2013 and $17.2 billion in 2014, so that broadly predicated it will hit $18.6 billion and $24 billion by 2018 at compound annual growth rate of 8% in the world.
The Global POCT Market and growth rate
In consumption market, the American area was the largest market, $7.5 billion which accounted for 47% of global consumption in the world in 2013; the second the largest market was European areas, totally amounted $4.9 billion in 2013, occupied 30% of global share. In addition, the developing countries were the main forces to drive the global market into next comprehensive growth in the future, as POCT was demanded fast in recent years, such as market in China, Brazil. 

In products development, with technology development and the demand for various features from downstream, the niche has divided into new sub-niches. In 2011, the consumption of POCT for cardiovascular diseases was $1.24 billion, and it was estimated to reach $2.9 billion by 2018 at CAGR of 12%.

Chinese POCT market
POCT in China is still in the early stage of development, it is relative small compare to US and EU and other developed regions, nevertheless, thanks to its constantly growing economy and largest population in the world, China is the large potential market.

In 2013, the POCT in China was $480 million, which occupied 7% of global consumption share, increased 4% of global share from in the year of 2007; estimated the market will reach $1.43 billion by 2018, and according to study in next five years, the POCT in Chinese market will grow at CAGR of over 20%.

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