Overview

Point of Care Diagnostics Market Introduction:

Point of Care Diagnostics Market is estimated to value over USD 59.04 billion by 2027 end and register a CAGR of over 11.2% during the forecast period 2020 to 2027.

Growing incidences of persistent disorders along with a rise in the ageing population increases the base of consumers who are likely to get affected by various diseases steers the expansion of the global market size. As per the International Diabetes Federation (IDF), over 400 million adults worldwide were diagnosed with diabetes in 2018 and it is predicted to grow up to over 600 million cases by 2040. The POC glucose meters are substantially useful in the management of glycaemic levels that are to be observed patients suffering from diabetes.

Moreover, the factors steering the POC testing or diagnostics market growth include an increase in the number of investments made by several foundations associated with the government. As per the report published in November 2018, the National Institute of Health (NIH) provided grants of over USD 7 million to the Massachusetts Medical Device Development Center to set up a centre. This centre prioritizes on helping investors who are into point of care technologies and products.

The service decentralization of primary care in many regional markets and programs initiated by the government agencies, for instance, National Health Service, accelerate the growth of the segment. The National Science Foundation, on February 2018, awarded Houston’s Rice University with USD 10.0 million for developing a POC-based solution called mHealth device.

Although, the home-based POC testing procedure is predicted to stand out as the fastest augmenting segment over the forecast period. The introduction of portable and economical POC-based products for early prevention and detection of diseases spur the insistence of home-based POC testing devices. Additionally, the emergence of POC in home arrangements has maintained the patient’s comfort level.

Impact of COVID-19 on Point of Care Diagnostics Market:

The University of Connecticut Health Center has developed a method based on CRISPR technology that can be used to detect diseases like COVID-19. This technology offers a highly specific, reliable and sensitive testing approach for diagnosing nuclei acid-based molecules. Furthermore, this method can be performed at room temperature, unlike the PCR-based methods, where a thermal cycler is required for maintaining temperature. But the current CRISPR detection technology requires multiple manual operations, separate amplification of nuclei acids in various reaction systems. These requirements complicate the tests, thereby risking of carrying contaminations owing to the transfer of amplified products.

Key players included in the global point-of-care diagnostics industry are:

Abbott, AccuBioTech, BioMérieux SA, Bio-Rad Laboratories, Becton, Dickinson, and Company, Chembio Diagnostics, Danaher, EKF Diagnostics, F. Hoffmann-La Roche, Instrumentation Laboratory, Johnson & Johnson, Nova, PTS Diagnostics, Sekisui Diagnostic, Siemens Healthineers, Sinocare Inc., Sysmex Corporation, Trinity Biotech, Trividia Health Inc., QIAGEN, Quidel.

Point of Care Diagnostics Market Segmentation:

By Product

Glucose Monitoring Products
Strips
Meters
Lancets & Lancing Platform
Cardiometabolic Testing Products
Blood Gas/Electrolytes Testing Products
HBA1C Testing Products
Infectious Disease Testing Products
HIV testing Products
Hepatitis C Testing Products
Sexually Transmitted Disease (STD) Testing Products
Healthcare-Associated Infection (HAI) Testing Products
Respiratory Infection Testing Products
Tropical Disease Testing Products
Other Infectious Disease testing Products
Coagulation Testing Products
PT/INR Testing Products
Activated Clotting Time (ACT/APTT) Testing Products
Pregnancy and Fertility Testing Products
Tumour/Cancer Marker Testing Products
Urinalysis Testing Products
Cholesterol Testing Products
Hematology testing Products
Drug-of-Abuse Testing Products
Fecal Occult Testing Products
Other POC Products

By Platform

Agglutination Assays
Biosensors
Dipsticks
Lateral Flow Assays
Microfluidics
Molecular Diagnostics
Solid Phase

By Mode

Prescription-Based Testing
OTC Testing

By End User

Home Care/ Self Testing
Physician Offices and Outpatient Centers
Hospitals
Research Laboratories
Other End Users

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global market by product, by platform, by mode, by end user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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