London, 04 September 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Point of Care Testing (POCT) Market in China 2014-2018, which is expected to grow at a CAGR of 20.69 percent during the period 2013-2018.
POCT or near-patient testing is usually performed outside the clinical laboratory setting and helps in making fast clinical decisions and providing appropriate treatments and medication. It is cost-effective and user-friendly. The POCT devices are standardized to minimize errors during diagnosis.
“The POCT market has a huge opportunity to grow in China as the vendors are focusing on the development of multimodal, non-invasive, portable, and compact POCT products, and incorporating novel technologies in them to improve the patient’s quality of life,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Increase in Technological Innovations
- Increase in Aging Population
- Growing Incidence of Diabetes and Obesity
Key Market Trends
- Expanding Economy of China
- Growing Popularity of Portable POCT Products
- Increase in Online Marketing Services
- Increase in Healthcare Spending
Key Market Vendors
- Abbott Laboratories
- Bayer HealthCare AG
- F. Hoffmann-La Roche Ltd.
- LifeScan Inc.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
