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Point Of Care Diagnostics & Testing Market Analysis Report By Product, By End-use, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17618503  |  Published: March 2021  |  No of Pages: 140
Format: Electronic (PDF)  |  Industry: Healthcare

Synopsis

With reference to the report published, the global point of care diagnostics and the testing market size was prized by USD 27.66 billion in 2020. It is estimated to witness a 3.25% CAGR from 2021 to 2028.

Drivers

Owing to the necessity, to deal with the current eruption of coronavirus, increasing occurrences of the targeted sicknesses, and the growth in financial support by the numerous resources, the market is expected to increase its thrust during the upcoming years.

The rising requirement for household healthcare has pushed the manufacturing companies like Roche Diagnostics as well as Abbott Laboratories, to commercialize transportable products which are easy to use, and this is furthermore expected to impel the market for point of care diagnostics.

Some of the most important inclinations, experiential inpatient care, are the devolution of healthcare that is estimated to present, new-fangled enlargement openings for the general business of point of care (POC) diagnostics.

canada-point-of-care-diagnostics-testing-market

The amalgamation of network technologies, by way of the point of care diagnostics resolutions developed during the latest history, is mainly targeted to increase the sensitivity, along with the specificity of the presented resolutions. This is anticipated to escalate its infiltration across the major health checkup locations, hospitals in particular.

The rising importance of point of care diagnostics in ecological supervise along with public health, moreover demands the incorporation of the technologies which makes possible trouble-free networking, additionally making it suitable for the healthcare experts to precisely understand the results of the test. Therefore, remote access amalgamation of the point of care tests and their arrangement is anticipated to bring in fresh opportunities for the business during the upcoming period.

Restraints

Conversely, these apparatuses are expensive for healthcare services, coping with a high number of tests. This is probable to hinder the expansion of the point of care (POC) diagnostics and testing market, particularly in emergent nations. On the other hand, the presentation of commercial devices is estimated to steadily decrease the influence of this limitation, above the period of the forecast.

Effect of Covid-19

For the purpose of monitoring the Covid-19, in point-of-care surroundings, a number of fast tests and kits are developed. The greater demand for the test of Covid-19 is an important motivator to impale the revenue in this market since the test is being executed on a huge level in crucial eruption hotspots. These types of things will be responsible for the efficient market structure for the Respiratory Disease Testing Market.

Product Insight

The infectious diseases product sector ruled the global POC diagnostics & testing market in 2020. It retained more than 36% share and will keep hold of its principal place all through the period of the forecast.

The sector of glucose products is expected to make up the subsequent maximum share of revenue by 2028. Everyday testing for the level of glucose is of crucial significance for the supervision of diabetic patients.

Point of care glucose monitors helps in recurrent supervising of blood glucose. Additionally, this facilitates doctors to plan for an effective treatment. Quick or Over-the-Counter (OTC) tests and prescription tests are the points of care diagnostics tests that are helpful for deciding the level of blood glucose, in hospitals as well as an additional point of care site. The increasing occurrence of diabetes, along with the presentation of transportable diagnostic apparatus, is estimated to power the expansion of the sector, during the period of the forecast.

The cardiac indicator product sector is estimated to record the subsequent highest CAGR throughout the forecast period. Greater precision percentage, linked with these indicators and the rising occurrence of target illnesses, are the major motivators of this sector. Additionally, hospitals are gradually more dependent on the speedy outcomes, acquired by the measurement of cardiac biomarkers, to continue with the treatment of the persons, suffering from Cardiovascular Disorders (CVDs). Point of care diagnostics tests is intended to interpret elevated troponin values that further indicate the necessity to admit the person, to the hospital.

End-Use Insight

In 2020, the clinic's section held more than 37% share of the revenue. Pharmacy & retail clinics are the most important donors for the generated revenue by this sector. Increasing admittance to brand new diagnostic technology, expanding exposure to healthcare, and affordability are the input factors that are increasing the functions of the point of care diagnostics.

global-point-of-care-diagnostics-testing-market

In contrast, the household end-use section is estimated to record the speedy development by 4.01% CAGR, for the period of the forecast. Point of care diagnostics devices arranged in the home-based healthcare sector has given the power to the patients, to deal with the difficulties in healthcare at home and accept conclusions, immediately. The increasing stress on before-time recognition and avoidance of illness is adding to the expansion of the segment.

Regional Insight

The Asia Pacific is expected to be the speedily developing local market, for the duration of the forecast. The growth of healthcare infrastructure, together with a greater occurrence of persistent and embattled sicknesses such as cancer, diabetes together with transmittable circumstances counting RSV, syphilis, COVID-19, HIV along with the others are likely to impel the regional point of care diagnostics and testing market. Besides, a growth in the acceptance of miniaturized models and procedures, taken on for the lessening in hospital stays, are anticipated to increase the demand for point of care diagnostics products.

In 2020, North America was the major local market and it held more than 34% share of the revenue. Owing to speedily rising cases of COVID-19 in Canada along with the U.S, the region will maintain its leading place all the way through the forecast period.

The amount of COVID-19 tests carried out, in this region, was over 300 million, hence presenting fantastic scope for the expansion of the market.

Companies

The key companies of the market are in the process of the commercialization of their goods, by way of the delivery contracts, to strengthen their existence in a number of regions. Additionally, major companies are busy in the improvement of the additionally advanced portable as well as bench-top resolutions for testing, to retain a viable upper hand within the market. For example, Nova Biomedical introduced Stat EMS Basic blood testing method which is to be utilizing in ambulances in addition to emergency care in CE synchronized nations, in March 2020.

Some of the companies for the point of care diagnostics and testing market are:

    • Spectral Medical, Inc.
    • Orasure Technologies, Inc.
    • Trinity Biotech
    • Trividia Health, Inc.
    • Instrumentation Laboratory
    • Siemens Healthcare AG
    • Biomerieux SA
    • Danaher Corp.
    • F. Hoffmann-La Roche Ltd.
    • Nipro Corp.
    • Sekisui Diagnostics
    • Quidel Corp.
    • Nova Biomedical
    • Zoetis, Inc.
    • Abbott Laboratories
    • Becton Dickinson (BD)
    • Qiagen

Report Scope

Report Attribute

Details

The market size value in 2021

USD 30.45 billion

The revenue forecast in 2028

USD 35.74 billion

Growth Rate

CAGR of 3.25% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Russia; Japan; China; India; Australia; Korea; Brazil; Mexico; Saudi Arabia; South Africa

Key companies profiled

F. Hoffmann-La Roche Ltd.; Qiagen; Danaher Corp.; Becton Dickinson (BD); Biomerieux SA; Abbott Laboratories; Siemens Healthcare AG; Zoetis, Inc.; Instrumentation Laboratory; Nova Biomedical; Trividia Health, Inc.; Quidel Corp.; Trinity Biotech; Sekisui Diagnostics; Orasure Technologies, Inc.; Nipro Corp.; Spectral Medical, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global point of care diagnostics & testing market report on the basis of product, end-use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)
    • Glucose Testing
    • Hb1Ac Testing
    • Coagulation
    • Fertility
    • Infectious Diseases
        • HIV POC
        • Clostridium Difficile POC
        • HBV POC
        • Pneumonia or Streptococcus Associated Infections
        • Respiratory Syncytial Virus (RSV) POC
        • HPV POC
        • Influenza/Flu POC
        • HCV POC
        • MRSA POC
        • TB and Drug-Resistant TB POC
        • HSV POC
        • COVID-19
        • Other Infectious Diseases
    • Cardiac Markers
    • Thyroid Stimulating Hormone
    • Hematology
    • Primary Care Systems
    • Decentralized Clinical Chemistry
    • Feces
    • Lipid Testing
    • Cancer Marker
    • Blood Gas/Electrolytes
    • Ambulatory Chemistry
    • Drug Abuse Testing
    • Urinalysis

• End-use Outlook (Revenue, USD Million, 2017 - 2028)
    • Clinics
        • Pharmacy & Retail Clinics
        • Physician Office
        • Urgent Care Clinic
        • Non-practice Clinics
    • Hospitals
    • Home
    • Assisted Living Healthcare Facilities
    • Laboratory

• Regional Outlook (Revenue, USD Million, 2017 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
    • The Asia Pacific
        • Japan
        • China
        • India
        • Australia
        • Korea
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)
        • South Africa
        • Saudi Arabia

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