Point of Care (PoC) Diagnostics Market Size, Regional Outlook, Competitive Landscape, 2030
Global Point of Care (PoC) Diagnostics Market size is expected to reach USD 97.27 Billion in 2030
and register a revenue CAGR of 10.5% over the forecast period, according to the
latest report by Reports and Data. Rise in prevalence of infectious and chronic
diseases and increase in awareness of PoC diagnostics products among the global
population are key factors driving market revenue growth over the forecast
period.
Point
of care market revenue growth is primarily driven by factors such as rise in
prevalence of infectious and chronic diseases caused by dangerous microbes
posing a threat to public health and potentially the economy, increase in
awareness of PoC diagnostics products, and rising use of home-based PoC
devices. Point of Care Testing (PoCT) allows for diagnosis of infectious
diseases in a wide range of settings including those without skilled technical
staff or suitable laboratory equipment.
Increase
in prevalence of chronic and infectious diseases and subsequent demand for
better treatment and rapid detection of diagnostics services cause a heavy
burden on traditional diagnostic mechanism. This leads to an increase in demand
for PoC diagnostics products. Diagnosis at patient care units is efficient and
results in quick turn-around time, concordant with laboratories, and helps in
rapid management of diseases, boosting market growth over the forecast period.
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Top
Players in the Global Point of Care (PoC) Diagnostics Market:
Abbott
Laboratories Inc, AccuBioTech Co Ltd., BioMérieux SA, Bio-Rad Laboratories
Inc., Becton, Dickinson and Company, Chembio Diagnostics Systems Inc., Danaher
Corporation, EKF Diagnostics, Hoffmann-La Roche, Instrumentation Laboratory,
Johnson & Johnson, Nova Biomedical Corporation, PTS Diagnostics, Siemens
Healthineers, QUIGEN GmbH, and Quidel Corporation.
PoC
technologies that decentralized rapid and low-cost diagnostics of COVID-19
infection are the need of the hour. The commercialization of technologies
helped develop fast PoC molecular diagnostics tests that help detect and
prevent the spread. Thus, developments of innovative products encourage
adoption of these technologies. Growing demand for rapid diagnosis test kits is
projected to impact the PoC diagnostics market growth positively.
However,
even though PoC devices are highly efficient and help in the rapid management
of diseases, strict regulatory policies regarding approval and
commercialization are one of the major hindrances that impact the mobility and
market growth. On the basis of patient requirements and cases, the PoC test
cost can be higher than tests conducted in traditional laboratories.
PoC
Diagnostics Market Report: Regional
Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
& Africa
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Point
of Care Diagnostics Market Segmentation:
Product
Type Outlook (Revenue, USD Billion; 2019-2030)
- Glucose
Monitoring Product
- Cardio
Metabolic Testing Product
- Infectious
Disease Testing Product
Application
Outlook (Revenue, USD Billion; 2019-2030)
- Lateral Flow
Assays
- Immunoassays
- Biosensors
- Dipsticks
- Microfluidics
- Molecular
Diagnostics
- Others
Purchase
Mode Outlook (Revenue, USD Billion; 2019-2030)
- Prescription-based
Testing
- OTC Testing
End-Use
Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals /
Critical Care Centers
- Research
Laboratories
- Homecare
- Others
Some
Key Highlights in the Report:
· Hospital/critical care center segment is expected to
lead the global market in terms of revenue contribution due to increased
awareness regarding early diagnosis of chronic diseases such as diabetes and
others. In addition, demand for rapid tests and early management of diseases
are key factors that are expected to propel growth of the segment.
· Lateral flow assay segment is expected to account for
the largest market share in the PoC diagnostics market over the forecast
period. Growth of the segment is expected to be driven by increase in focus on
replacing time-consuming and traditional laboratory techniques. Due to the low
cost and clinical utility, lateral flow assays are a popular platform for PoC
diagnostics.
· Asia Pacific is expected to register a rapid revenue
growth rate over the forecast period due to the presence of several key
players, lower regularity hurdles, and rise in awareness and accessibility of
innovative PoC diagnostics products.
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Frequently
Asked Questions Answered in the Report:
- What is the
estimated revenue growth rate of the global Point of Care (PoC)
Diagnostics market over the forecast period?
- What are the
major factors driving the global market revenue growth?
- Which are the
leading manufacturers and suppliers in the global Point of Care (PoC)
Diagnostics market?
- Which
regional market is expected to lead in terms of revenue share in the
global Point of Care (PoC) Diagnostics market over the forecast years?
- What are the
key outcomes of SWOT analysis and Porter’s Five Forces analysis of the
market?
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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