The Worldwide Point of Care/Rapid Diagnostics Industry is Projected to Reach $50.6 Billion by 2025 at a CAGR of 11.4% from 2020
DUBLIN, March 4, 2021 /PRNewswire/ -- The "Point of Care/Rapid Diagnostics Market by Product (Glucose, Infectious Disease (Hepatitis C, Influenza), Coagulation), Platform (Microfluidics, Immunoassay), Mode of Purchase (Prescription, OTC), Enduser (Hospital, e-comm, Home Care) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global point of care diagnostics 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 effect in the growth of point of care diagnostics market. However, lack of proper alignment of POCs with central lab methods, and lower adoption, due to lack of knowledge regarding 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 lateral flow assays segment accounted for the largest share of the point of care diagnostics 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 point of care diagnostics market growth in Aisa Pacific
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Point-Of-Care Diagnostics Market Overview
4.2 Point-Of-Care Diagnostics Market, by Mode of Purchase, 2020
4.3 Asia-Pacific: Point-Of-Care Diagnostics Market
4.4 Point-Of-Care Diagnostics Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Prevalence of Infectious Diseases
5.2.1.2 Increasing Incidence of Target Conditions
5.2.1.3 Supportive Government Policies
5.2.1.4 Dearth of Skilled Laboratory Technicians
5.2.1.5 Rising Number of Clia-Waived Poc Tests
5.2.2 Restraints
5.2.2.1 Pricing Pressure Owing to Reimbursement Cuts and Budget Constraints
5.2.2.2 Stringent Regulatory Policies
5.2.3 Opportunities
5.2.3.1 Emerging Markets
5.2.3.2 Healthcare Decentralization
5.2.3.3 Increasing Provider Awareness About Novel Technologies
5.2.3.4 Poc Tests with Multiplexing Capabilities
5.2.3.5 Growing Investments and Funding for Product Development
5.2.4 Challenges
5.2.4.1 Lack of Alignment with Definitive Central Lab Methods
5.2.4.2 Inadequate Adoption of Poc Devices in Professional Settings
5.2.4.3 Reluctance to Change Existing Diagnostic Practices
5.2.4.4 Premium Pricing of Novel Platforms
5.3 Technology Analysis: Emerging Point-Of-Care Applications
5.3.1 Sepsis Biomarkers
5.3.2 Stroke/Cardiac Markers
5.3.3 Thyroid Testing
5.3.4 DNA Testing
5.3.5 Endocrine Testing
5.3.6 Respiratory Diagnostics
5.4 Global Regulatory Landscape
5.5 Industry Trends Related to COVID-19
5.6 Value Chain Analysis
5.7 Pricing Trend Analysis
5.8 Ecosystem Coverage: Parent Market (In Vitro Diagnostics)
5.9 Use Cases: Point-Of-Care Diagnostics Market
5.9.1 Revenue Opportunities: IVD Assay Development Services
5.9.2 Revenue Opportunities: IVD Contract Research Services
6 Point-Of-Care Diagnostics Market, by Product
6.1 Introduction
6.2 Glucose Monitoring Products
6.3 Cardiometabolic Monitoring Products
6.4 Infectious Disease Testing Products
6.5 Coagulation Monitoring Products
6.6 Pregnancy & Fertility Testing Products
6.7 Tumor/Cancer Marker Testing Products
6.8 Urinalysis Testing Products
6.9 Cholesterol Testing Products
6.10 Hematology Testing Products
6.11 Drugs-Of-Abuse Testing Products
6.12 Fecal Occult Testing Products
6.13 Other Poc Products
7 Point-Of-Care Diagnostics Market, by Platform
7.1 Introduction
7.2 Lateral Flow Assays
7.2.1 Technological Advancements and Increasing Adoption of LFA Are Supporting Market Growth
7.3 Immunoassays
7.3.1 Rising Incidence of Cancer and Growing Awareness About Immunoassay Platforms to Support Market Growth
7.4 Microfluidics
7.4.1 Microfluidics is An Emerging Platform in the Poc Diagnostics Market
7.5 Dipsticks
7.5.1 Dipsticks Help in the Routine Analysis of Several Medical Conditions
7.6 Molecular Diagnostics
7.6.1 Increasing Initiatives by Market Players for Developing Poc Molecular Diagnostic Products to Drive Market Growth
8 Point-Of-Care Diagnostics Market, by Mode of Purchase
8.1 Introduction
8.2 OTC Testing Products
8.2.1 Rising Focus on Home Care is Expected to Boost the Demand for OTC Testing in the Coming Years
8.3 Prescription-Based Testing Products
8.3.1 Growing Prevalence of Lifestyle Diseases and Favorable Reimbursement Have Driven Market Growth
9 Point-Of-Care Diagnostics Market, by End-user
9.1 Introduction
9.2 Outpatient & Ambulatory Care Facilities
9.2.1 Rapid Result Generation and Availability of Immediate Patient Care Are the Major Factors Driving Market Growth
9.3 Hospitals & Critical Care Centers
9.3.1 Hospitals Are Among the Largest End-users of Poc Diagnostics
9.4 Home Care Settings
9.4.1 Increasing Inclination Toward Home Healthcare is Driving the Growth of this End-User Segment
9.5 Other End-users
10 Point-Of-Care Diagnostics Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Latin America
10.6 Middle East & Africa
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis (2019)
11.3 Competitive Scenario (2016-2020)
11.3.1 Key Product Launches & Product Approvals (2016-2020)
11.3.2 Key Acquisitions (2016-2020)
11.3.3 Key Agreements, Contracts, and Partnerships (2016-2020)
11.4 Competitive Leadership Mapping: Major Global Players (As of 2019)
11.4.1 Stars
11.4.2 Emerging Leaders
11.4.3 Pervasive Players
11.4.4 Participants
11.5 Competitive Leadership Mapping: Emerging Companies/SMEs/Start-Ups (As of 2019)
11.5.1 Progressive Companies
11.5.2 Starting Blocks
11.5.3 Responsive Companies
11.5.4 Dynamic Companies
12 Company Profiles
12.1 Roche Diagnostics
12.2 Siemens Healthineers
12.3 Danaher Corporation
12.4 Becton, Dickinson and Company
12.5 Abbott Laboratories
12.6 Quidel Corporation
12.7 Chembio Diagnostics
12.8 Johnson & Johnson
12.9 EKF Diagnostics
12.10 Trinity Biotech
12.11 Accubiotech
12.12 Instrumentation Laboratory (A Werfen Company)
12.13 Nova Biomedical
12.14 PTS Diagnostics
12.15 Sekisui Diagnostics
12.16 Fluxergy
13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: The Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
For more information about this report visit https://www.researchandmarkets.com/r/nfniwh
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