The global Point Of Care Diagnostics & Testing market size is expected to be worth around US$ 36.70 billion by 2030, according to a new report by Vision Research Reports.
The global Point Of Care Diagnostics & Testing market size was valued at US$ 28.01 billion in 2020 and is anticipated to grow at a CAGR of 3.33% during forecast period 2021 to 2030.
Growth Factors
Point of care (POC) diagnostics & testing has significantly altered the therapeutic models applied for the treatment of diabetic patients, HIV patients, and patients with Cardiovascular Disorders (CVDs), in recent years. In addition, emerging advancements on the horizon are projected to enhance the near-patient treatment workflows for infectious diseases, strokes, and cancer.
The industry is set to witness lucrative growth as POC testing serves as a profitable alternative to traditional laboratory tests. Point-of-care devices are designed to offer actionable information at the location and time of patient care, which enables early diagnosis of diseases. The advent of non-invasive & minimally invasive POC devices, continuous POCT, miniaturized technologies, and the adoption of telemedicine in remote patient monitoring are some of the key trends contributing to the market growth.
Moreover, the advent of rapid data sharing solutions as well as platforms is set to contribute to the development of POC COVID-19 tests, supplementing the overall market growth. Companies actively working toward the development of such rapid data sharing solutions include Foundation for Innovative New Diagnostics (FIND) and 360 Dx. The rising number of such companies is set to offer manufacturers/developers and professionals a clear perspective with respect to the future opportunities associated with POC COVID-19 tests.
Report Highlights
The infectious diseases product segment dominated the global market in 2020 with a share of over 36% and will retain its leading position throughout the forecast years. The glucose product segment is estimated to account for the second-highest revenue share by 2028. Routine testing of glucose levels is of prime importance for the management of diabetic patients. As per the Diabetes Control and Complications Trial, integration of blood glucose monitors results in lesser complications associated with the disease.
Point of care glucose monitors assists in regular monitoring of blood glucose, which further enables doctors to design an effective therapy. Over-the-Counter (OTC) or rapid tests and prescription tests are the POC tests that are useful for the determination of blood glucose levels in hospitals and other POC settings. The growing prevalence of diabetes and the introduction of portable diagnostic equipment are expected to boost the segment growth from 2021 to 2028.
The cardiac markers product segment is expected to register the second-fastest CAGR during the forecast period. High accuracy rates associated with these markers and the growing prevalence of target diseases are the primary drivers of this segment. In addition, hospitals are increasingly relying on the rapid results obtained by cardiac biomarker measurement to proceed with the treatment of individuals with Cardiovascular Disorders (CVDs). Point of care tests are designed to read high troponin values, which further signals the need to admit the individual to the hospital.
The clinics segment accounted for the highest revenue share of over 37% in 2020. Pharmacy & retail clinics are the major contributors to the revenue generated by this segment. Growing access to novel diagnostic technologies, improving healthcare coverage, and affordability are the key factors that are expanding the applications of POC testing.
Thus, community pharmacies and retail clinics have emerged as potential medical setups that perform such lab tests; especially regarding cholesterol and glycosylated hemoglobin (A1C) testing. POC products manufactured by key players that are exclusive to physician office applications also contributed to the revenue of this segment in the global POC diagnostics and testing market.
For instance, Siemens Healthineers showcases a broad portfolio of POC solutions suitable for analytical applications at physicians’ offices; these include diabetes, urinalysis, and coagulation. The company also offers software solutions that help in connecting more than 100 POC devices along with all the operators that utilize them.
On the other hand, the home end-use segment is expected to register the fastest growth rate of 4.01% from 2021 to 2028. POC devices deployed in the home healthcare sector have empowered patients to address healthcare challenges at home and take decisions instantly. The growing emphasis on early detection and prevention of diseases is supplementing the segment’s growth.
North America was the largest regional market in 2020 and accounted for a revenue share of over 34%. The region will retain its dominant position throughout the forecast years on account of rapidly increasing COVID-19 cases in the U.S. and Canada. The number of COVID-19 tests conducted in this region was more than 300 million, thus, offering tremendous scope for market growth.
Key Players
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
Market Segmentation
Product Outlook
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
Clinics
Pharmacy & Retail Clinics
Physician Office
Urgent Care Clinic
Non-practice Clinics
Hospitals
Home
Assisted Living Healthcare Facilities
Laboratory
Regional Outlook
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Russia
Asia Pacific
Japan
China
India
Australia
Korea
Latin America
Brazil
Mexico
Middle East & Africa (MEA)
South Africa
Saudi Arabia
The Point Of Care Diagnostics & Testing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Point Of Care Diagnostics & Testing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Point Of Care Diagnostics & Testing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Point Of Care Diagnostics & Testing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Point Of Care Diagnostics & Testing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Point Of Care Diagnostics & Testing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Point Of Care Diagnostics & Testing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Point Of Care Diagnostics & Testing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Point Of Care Diagnostics & Testing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Point Of Care Diagnostics & Testing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Point Of Care Diagnostics & Testing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Point Of Care Diagnostics & Testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Point Of Care Diagnostics & Testing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Point Of Care Diagnostics & Testing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Point Of Care Diagnostics & Testing market. These factors have benefited the growth of the global market for Point Of Care Diagnostics & Testing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Point Of Care Diagnostics & Testing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Point Of Care Diagnostics & Testing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers