Report ID: SQMIG35I2136 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 61 | Figures: 75
Global Prenatal Vitamin Supplement Market
Global Point Of Care Diagnostics Market Size, Share, Growth Analysis, By Product type(Glucose Testing, Hb1Ac Testing), By End users(Clinics, Hospitals), By Platform(Lateral flow assay, Dipsticks) - Industry Forecast 2023-2030
Report ID: SQMIG35I2098 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 121 | Figures: 76
Global Point Of Care Diagnostics Market Insights
Point Of Care Diagnostics Market size was valued at USD 39.4 billion in 2021 and is poised to grow from USD 45.4 billion in 2022 to USD 113.7 billion by 2030, growing at a CAGR of 10.7% in the forecast period (2023-2030).
For investigation (diagnosis & monitoring) of a variety of diseases, such as cancer, diabetes, cardiac diseases, and others, point-of-care (POC) diagnostics are used. These are medical tools used to obtain an immediate response. The increase in the prevalence of chronic and infectious diseases in developing economies is one of the point of care diagnostics market growth factor. Globally, the prevalence of chronic diseases including diabetes, rheumatism, and cancer is rising for a number of reasons, including rising ageing population, sedentary lifestyles, poor dietary habits, and environmental factors. For instance, chronic illnesses claim the lives of more than 38 million people worldwide each year. Every year, 17.5 million people die from chronic diseases related to the cardiovascular system, followed by cancer (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million). 82% of deaths from chronic disorders are caused by the aforementioned diseases. Point-of-care diagnostics is becoming increasingly popular among patients all over the world since samples are taken from the patient's location for testing, and findings may be obtained in a remarkably short amount of time because to the usage of micro fluids, chips, and nano diagnostics.
The point-of-care diagnostics market continues to benefit from COVID-19. The demand for point-of-care diagnostics kits, such as COVID-19 fast kits used to identify COVID-19. The market is expanding as COVID-19 infection rates rise internationally.
US Point Of Care Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Point Of Care Diagnostics Market Segmental Analysis
Global Point of Care Diagnostics Market is segmented based on product type, end users, and platform. Based on product type, the market is further segmented into Glucose Testing, Hb1Ac Testing, Coagulation Testing, Fertility/Pregnancy, Infectious Disease (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, Haematology, Primary Care Systems, Decentralized Clinical Chemistry, Faeces, Lipid Testing, Cancer Marker, Blood Gas/Electrolytes, Ambulatory Chemistry, Drug of Abuse (DOA) Testing, Urinalysis/Nephrology. Based on end users, global point of care diagnostics market is further segmented into clinics, hospitals, homecare, assisted living healthcare facilities, laboratory. Based on platform, the market is segmented as lateral flow assay, dipsticks, microfluidics, molecular diagnostics, immunoassays.
Point Of Care Diagnostics Market Analysis by Product Type:
In 2021, the infectious diseases segment had the highest revenue share of more than 20%. The change from centralised to decentralised point-of-care diagnostics for infectious diseases has resulted in better patient care. Increased demand for rapid tests is driving the point of care diagnosis market, prompting industry players to supply solutions to decentralised regions.
In 2021, the diabetes testing segment had the second-highest revenue share. Rising incidence of diabetes, combined with the need for regular monitoring of blood sugar levels is boosting the segment expansion. According to International Diabetes Federation figures, the global prevalence of diabetes will rise from 382 million in 2013 to 592 million in 2035. Diabetes prevalence and the introduction of portable diagnostic equipment are predicted to drive market growth from 2022 to 2028. During the projection period, the cardiovascular biomarkers segment is expected to increase significantly. Millions of patients visit the emergency room each year with symptoms of a heart attack. Cardiovascular disease accounts for around 31% of all deaths. Players are expecting future demand and planning product development strategies appropriately. Some of the key drivers of this segment are the high accuracy rates associated with these markers and the increasing prevalence of target diseases. Furthermore, the market is likely to see substantial growth in adoption rates in established regions such as North America and Europe.
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Global Point Of Care Diagnostics Market Regional Insights
North America, which contributed in USD 14.48 billion in revenue in 2021, is expected to dominate the point of care diagnostics market during the forecast period. The regional market is projected to grow as a result of massive use of cutting-edge point of care diagnostics to identify a variety of infectious and chronic diseases, as well as the availability of beneficial reimbursement policies. During the projection period, Europe is expected to develop at a substantial CAGR, holding the global market share. The introduction of quick diagnostic tools for the timely diagnosis of infectious diseases is the focus of major players in Europe. Additionally, the government has made R&D investments to support the diagnostics industry with regard to the most cutting-edge point-of-care diagnostic testing. These elements contribute to the market expansion in the area. Furthermore, the market in Asia Pacific is predicted to grow at a rapid pace during the projection period. The rising prevalence of infectious and chronic diseases in Asia Pacific is expected to drive the adoption of these diagnostics.
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Global Point Of Care Diagnostics Market Dynamics
Point Of Care Diagnostics Market Driver
Rising Incidence of Chronic and Infectious Diseases Drives Demand for Point of Care Diagnostics
Globally, there has been a significant increase in the occurrence of chronic diseases such as cardiovascular problems, diabetes, and numerous infectious diseases. One of the primary factors driving demand for point-of-care diagnostics during the forecast period is the rising occurrence of such disorders. According to the United Nations, about 38 million individuals have HIV/AIDS in 2019. There were 1.8 million youngsters and 36.2 million adults among them. Furthermore, human respiratory syncytial virus (RSV) is one of the most common viruses responsible for respiratory tract infections. According to the CDC, 4-5 million children worldwide suffer respiratory syncytial virus (RSV) lower respiratory tract infection each year. Similarly, according to the IDF Diabetes Atlas, 206.0 million adults worldwide had diabetes in 2021. Furthermore, the global adult diabetic population is projected to hit 643 million by 2030 and 783 million by 2045.
A large increase in the prevalence of diabetes and the aforementioned chronic diseases around the world has produced a demand for rapid point of care diagnostics with the goal of properly managing such conditions, and the market is expected to grow positively internationally.
Point Of Care Diagnostics Market Restraint
Inconsistency with Definitive Central Lab Methods
Due to a high number of pre- and post-analytical mistakes, point of care test findings are not properly aligned with central lab procedures. Unsuitable indications for the performance of the test, inappropriate sampling times and techniques, an insufficient information about patient conditions, and other variables such as fasting before functional tests or differences in posture/position during similar tests are examples of pre-analytical errors for point of care testing. Post-analytical errors, on the other hand, include insufficient technical validation, incorrect result assignment, and data storage issues. Point of care testing is frequently used in emergency scenarios to aid with clinical decision-making. These tests are frequently performed by nurses or clinical team members rather than physicians. Such circumstances can result in incorrect order and result documentation. These issues have the chance of leading to incorrect diagnoses and have an impact on the quality of care provided to patients. Considering these concerns, patients and doctors may decide not to go for point of care testing. This is one of the most significant barriers to increased acceptance of point of care testing.
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Global Point Of Care Diagnostics Market Competitive Landscape
The global point of care diagnostics market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For instance, in December 2018, Anteo Diagnostics (Australia) and Shanghai GeneoDx Biotechnology (China) announced an agreement to market, sell, and distribute Anteo’s range of AnteoBind products in China The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students.
Top Players in Global Point of Care Diagnostics Market
- Abbott Laboratories
- Roche Diagnostics
- Siemens Healthineers AG
- Danaher Corporation
- Becton, Dickinson and Company
- Quidel Corporation
- bioMérieux SA
- Sysmex Corporation
- Nova Biomedical Corporation
- Trinity Biotech plc
- Hologic, Inc.
- Sekisui Diagnostics, LLC
- EKF Diagnostics Holdings plc
- PTS Diagnostics
- Chembio Diagnostic Systems, Inc.
- OraSure Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- LumiraDx
- Magnasense Technologies
- Spectral Medical Inc.
Point Of Care Diagnostics Market Recent Developments
In March 2022, Visby Medical announced to receive funding of USD 25.5 million from the U.S. Biomedical Advanced Research and Development Authority in order to develop a rapid flu-COVID-19 PCR test for home use. At present, the test is in the under-developing phase and the design is ready as a PCR device that can detect COVID-19, influenza A, and B from a single sample.
March 2022, Canada-based Company, bioLytical Laboratories Inc. received CE marking for the iStatis COVID-19 Antigen Home Test.
Abbott has introduced ID NOW, the world's quickest molecular point of care test, which provides COVID-19 findings in 13 minutes and is usable in a variety of decentralized healthcare settings such as doctors' offices and urgent care clinics.
April 2021, Siemens Healthineers obtained CE marking for Atellica VTLi Patient-Side Immunoassay Analyzer. It is one of the first technologies in the industry that aims to enhance the patient care paradigm and offers hs-cTnI results that assist in the diagnosis and treatment of heart attacks.
Global Point Of Care Diagnostics Key Market Trends
Technological Advancements in Point of Care Diagnostic
Major market participants have increased their focus on the use of new technologies such as artificial intelligence in the production of efficient point of care diagnostics. Significant breakthroughs in point of care testing devices have resulted from lab-on-a-chip platforms, wearable technologies, and smartphone-based technology innovations. Cloud-based Intelligent systems have cleared the way for future revolutions. Miniaturization in chip technology, microfluidics, and novel biosensors has influenced the creation of new diagnostic systems. One of the key drivers of POCT is lab-on-a-chip technology, notably in infectious illness detection. Microbiological culture, enzyme-linked immunosorbent assays (ELISA), and polymerase chain reaction (PCR) can now be employed at the point of care thanks to lab-on-a-chip technology.
Global Point Of Care Diagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global point of care diagnostics market analysis, Infectious diseases point of care testing held the highest revenue share. Diabetes prevalence and the introduction of portable diagnostic equipment are predicted to drive the market growth. North America held highest market share and expected to rule the point of care diagnostics market during the forecast period. The regional market is projected to grow as a result of massive use of cutting-edge point-of-care diagnostics to identify a variety of infectious and chronic diseases, as well as the availability of beneficial reimbursement policies.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 39.4 billion |
| Market size value in 2030 | USD 45.4 billion |
| Growth Rate | 10.7% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Point Of Care Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Point Of Care Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Point Of Care Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Point Of Care Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Point Of Care Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Point Of Care Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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