Global Point of Care Diagnostics Market revenue was estimated at $45.4 billion in 2022 and is projected to reach $75.5 billion by 2027, with a robust growth rate of 10.7% CAGR from 2022 to 2027.
The growth of this market can be attributed to the high prevalence of respiratory diseases such as influenza, cardiac diseases, and infectious diseases (where point of care tests can greatly improve the management of these diseases, especially in developing countries where access to timely medical care is a challenge and the healthcare infrastructure is antiquated and sparse). Furthermore, with the increasing availability of point of care testing products via online platforms, supportive government policies, and an increase in the number of CLIA-waived point of care tests, healthcare decentralisation and greater investments and funding for product development are expected to accelerate the growth of the market in the coming years.
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Prominent players in the point of care diagnostics market are Abbott Laboratories (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Becton, Dickinson and Company (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland), Instrumentation Laboratory (a Werfen Company) (US), Nova Biomedical (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Thermo Fisher Scientific (US), and bioMérieux S.A. (France).
Abbott Laboratories is the leading player in the market. The strong focus on strengthening its brand presence and continuous investments in R&D to introduce novel products and improve its existing product line and processes are expected to help Abbott witness significant growth in the point-of-care diagnostics market during the forecast period. To expand its global diagnostics presence and leadership in the point-of-care diagnostics market, the company acquired Alere, Inc. in October 2017, gaining access to new channels and Alere’s high-quality products.
TABLE OF CONTENTS
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.6 Summary of Changes
2 RESEARCH METHODOLOGY
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions and Limitations
3 MARKET OVERVIEW
3.2 Market Dynamics
3.3 Technology Analysis: Emerging Point-Of-Care Applications
3.4 Regulatory Landscape
3.5 Value Chain Analysis
4 POINT OF CARE DIAGNOSTICS INDUSTRY, BY REGION
4.1 NORTH AMERICA
4.3 ASIA PACIFIC
4.4 Latin America
4.5 Middle East & Africa
5.1 Discussion Guide
5.2 Knowledgestore: MarketsandMarkets’ Subscription Portal
5.3 Customization Options
5.4 Related Reports
5.5 Author Details
- In May 2022, QuantuMDx announced the launch of its new respiratory panel test; Q-POC™ SARS-CoV-2, Flu A/B & RSV Assay.
- In March 2022, Boditech Med entered in strategic partnership with Novo Integrated Sciences, Inc. with an aim to expand its biomarker based rapid testing product line across North America
- In January 2022, Roche launched its Cobas Pulse System in select countries accepting the CE Mark. This is Roche Diagnostics’ newest generation of connected point-of-care solutions for professional blood glucose management.
Point of Care Diagnostics Industry Report Objectives:
- To define, describe, and forecast the point-of-care and rapid diagnostics market by Product, Platform, Mode of Purchase, Sample, End User, and Region
- To provide detailed information about major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyse micromarkets1 with respect to individual growth trends, prospects, and their contributions to the overall point-of-care and rapid diagnostics market
- To analyse market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the market value of various segments and sub-segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players active in the point-of-care and rapid diagnostics market and comprehensively analyse their global revenue shares and core competencies
- To track and analyse competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the point-of-care and rapid diagnostics market
Report Link: ( Point of Care Diagnostics Market )
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