The global point of care diagnostrics market size is projected to reach USD 50.6 billion by 2025 from USD 29.5 billion in 2020, at a CAGR of 11.4%. Factors such as the technological advancements in point of care devices in the market are propelling the growth of the market. Additionally, rising cases of investments from both private and public sectors boosting the research activities are likely to have affect in the growth of point of care diagnostics market. However, lack of prpper alignment of POCs with central lab methods, and lower adoption, due to lack of knowledge reagading the use of PoC products for indicative diseases in many low resource economies are likely to hamper the growth of this market.
The recent COVID-19 global pandemic has also impacted the point of care diagnostics market.Demand from the main end-users has increased as key regions and countries demanded for rapid testing kits in order to detect the COVID infection at the earliest.
The rapidly growing number of COVID-19 cases and the growing pressure on governments to improve patient management has boosted the demand for rapid testing kits that can be effectively used in point-of-care settings.
The glucose monitoring products segment to witness the highest growth rate in point of care diagnostics market, by product, during the forecast period. The glucose monitoring products segment is expected to witness the highest growth rate during the forecast period. The high growth in this owes to the high prevalence of diabetes, ongoing technological advancements in blood glucose self-monitoring devices, and growing patient awareness about the availability POC products to easily monitor blood glucose level at home.
The lateral flow assays segment accounted for the largest share of the point of care diagnostics market, by platform, in 2020. The latetal flow assays segment accounted for the largest share of the point of care diagnotics market in 2020. The increasing adoption of lateral flow assays in POC testing as a replacement for lengthy, conventional laboratory procedures are playing a critical factor supporting the growth of this segment.
The OTC testing segment accounted for the largest share of the point of care diagnostics, by mode of purchase, in 2020 OTC testing products are used for glucose monitoring, pregnancy & fertility testing, infectious disease testing, and cholesterol-level testing. Moreover, many PoC devices available without prescription in many developing nations and increase in online purchase of OCT POC product are driving the demand for OTC POC testing products.
The Hospitals & Critical Care Centers segment accounted for the largest share of the point of care diagnostics, by end users, in 2020 Hospitals and clinics make use of POC devices for improving patient care and treatment efficiency.One of the main advantages of using POC devices in hospitals or clinical settings over laboratory tests is that they have a faster turnaround time for testing as compared to a laboratory.
Increase in the awareness of the benefits associated with the POC diagnostics for the treatment/monitoring of various patients in hospitals/critical care centers are accelerating the use of POC devices among these end users.
The Asia Pacific market to grow at the highest CAGR during the forecast period. The point of care diagnostics market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Government efforts to increase awareness related rapid diagnostic devices at point of care , rising healthcare expenditure, increasing healthcare expenditures, increasing number of hospitals and clinical diagnostic laboratories in India and China, and growing collaborations among players in the region are also expected to drive pount of care diagnostics market growth in Aisa Pacific
Breakdown of supply-side primary interviews: • By Company Type: Tier 1: 25%, Tier 2: 30%, and Tier 3: 45% • By Designation: C-level: 26%, D-level: 30%, and Others: 44% • By Region: North America: 39%, Europe: 24%, APAC: 21%, Latin America: 10%, and the Middle East & Africa: 5%
The major players operating in the point of care diagnosticsmarket are Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Becton Dickinson and Company (US), Abbott Laboratories (US), Quidel Diagnostics (US), and Chembio Diagnostics (US). Other prominent players operating in this market are EKF Diagnostics (UK), Trinity Biotech (Ireland), and Fluxergy (France).
Research Coverage This report studies the point of care diagnosticsmarket based on the product, mode of purchase, platform end-user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
Key Benefits of Buying the Report This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the point of care diagnosticsmarket, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
Our reports have been used by over 10K customers, including:
India In-vitro diagnostics market estimated to be valued at USD USD 1255.18 million in 2020 and is expected to reach approximately USD 1990.99 million in 2026, registering a CAGR of nearly 7.10% during the forecast period. In the context of COVID-19, government organizations in various countries, research institutes, and many global...
The women’s health diagnostics market is projected to reach USD 36.6 billion by 2025 from USD 25.0 billion in 2020, at a CAGR of 7.9% during the forecast period. In the past decade, the demand for various health diagnostic tests has increased significantly across the globe. Currently, the market is mainly driven by growing awareness about...
The nucleic acid amplification, detection, and diagnostics market was valued at US$ 14,014.59 million in 2019 and is projected to reach US$ 38,162.68 million by 2027; it is expected to grow at a CAGR of 13.4% during 2020–2027. The growth of the nucleic acid amplification, detection, and diagnostics market is mainly attributed to the factors...
The major factors responsible for the growth of the mammography market include the growing prevalence of breast cancer, technological advancements in the field of breast imaging, and investment from various organizations in breast cancer screening campaigns. - According to the Centers for Disease Control and Prevention (CDC) reports,...
The POC data management software market was valued at USD 5916.9 million in 2019, and it is expected to reach a value of USD 11,772.2 million by 2025, registering a CAGR of 12.3% over the forecast period from 2020 to 2025. Point-of-care technologies enable hospitals and clinics to invest more time and money in technologies that help accelerate...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Rapid Diagnostics Market Report
The rapid diagnostics market by revenue is expected to grow at a CAGR of 10% during the period 2019–2025.
The global rapid diagnostics market is one of the major segments of the global in-vitro diagnostics...
The global autoimmune disease diagnostics market is predicted to reach nearly US$ 18 Billion by 2027. Autoimmune diseases refer to a body’s abnormal immune response leading to production of antibodies that attack own cells and tissues, causing deterioration and destruction of healthy tissues. There are almost 80 types of autoimmune diseases...
The diagnostic specialty antibodies market is projected to grow with a CAGR of 5.95%, during the forecast period. The advancements in DNA based technologies and diagnostics are expected to boost the market growth. In addition, the high number of patient pool undergoing diagnosis of HIV and growing demand for speciality diagnostics around the...
The exosomes market is expected to register a CAGR of nearly 27.89% during the forecast period. Certain factors that are driving the market growth include increasing prevalence of cancer, technological advancements in exosomes isolation and analytical procedures, and increasing advanced applications of exosomes. The growing prevalence of cancer...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Infectious Disease Diagnostics Market Report
The infectious disease diagnostics market by revenue is expected to grow at a CAGR of over 7% during the period 2019–2025.
The global infectious disease diagnostics market, which is one of...
HIV AIDS Prevalence
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.