by The COVID-19 pandemic’s worldwide impact has been unforeseen and devastating, with point of care diagnostics experiencing a positive demand across all around the world. Because of the global frequency of chronic and acute diseases, there is a growing demand for high quality point of care diagnostics kits. Furthermore, technical advancements in diagnostic kits have resulted in fewer manual errors, which have emerged as a key driver of the market. This is likely to increase the use of point of care diagnostics testing kits in emerging and low-income nations.
The global point of care diagnostics market size is forecasted to reach from US$ 36 billion in 2021 to US$ 93.21 billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 11.1 from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The point of care diagnostics market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decision to sustain growth through the assessment period.
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Growth Factors
- Technological developments in POC devices
- Rising infectious disease incidence
- Increased expenditures by key companies
- Rising occurrences of target disorders
Scope of the Point of Care Diagnostics Market
| Report Coverage | Details |
| Market Size | US$ 32.5 Billion |
| Growth Rate From 2021 to 2030 | CAGR of 11.1% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| By Product |
|
Competitive Landscape Analysis:
Some of the leading companies operating in the point of care diagnostics market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Major companies operating in this report are
- Cardinal Health Inc.
- Trinity Biotech
- Bio-Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.
- Quest Diagnostics Incorporated
- Quidel Corporation
- Abbott Laboratories
- Mesa Biotech
- F. Hoffmann-La Roche Ltd
- Cepheid
Market Dynamics
Drivers
Growing geriatric population
The elderly or senior population is rapidly increasing. According to the World Health Organization (WHO), the number of people aged 65 and up is expected to increase by around 1.5 billion by 2050. In developing countries such as China, Japan, India, and South Korea, the figure is expected to rise. Cancer, diabetes, high blood pressure, and blood sugar levels are just a few of the health issues that the geriatric population faces. They need to be more cautious about their health. As a result, they require medications at regular intervals. Geriatric patients may purchase medications without a prescription. As a result, during the forecast period, the growing geriatric population will drive the growth of the point of care diagnostics market.
Restraints
Inadequate adoption of point of care diagnostics
The clinical professionals with less laboratory experience, such as nurses, perform the majority of point of care diagnostics tests. Because hospitals have a huge number of patients, these individuals focus on patient care and are constantly under pressure to give quick treatments. The sample collection and all other processes that clinical personnel do while performing point of care diagnostics tests are generally unfamiliar with the proper procedures. Furthermore, it has been noticed that in most situations, the opinion of lab experts or healthcare workers is not taken into consideration. Thus, the inadequate adoption of point of care diagnostics is hindering the market growth.
Opportunities
Rising prevalence of chronic diseases
The rising prevalence of infectious and chronic diseases such as cancer, heart diseases, hepatitis, and other respiratory diseases is driving the global point of care diagnostics market growth. Furthermore, the change in consumer lifestyle patterns can lead to a variety of medical disorders, such as obesity, hypertension, blood sugar, and diabetes, which necessitate the use of point of care diagnostics for monitoring and diagnosis. As a result, the rising prevalence of chronic diseases is creating lucrative opportunities for the growth of point of care diagnostics market during the forecast period.
Challenges
Stringent regulatory framework
The regulatory policies have hampered the development of new point of care diagnostics test kits, despite the improved accuracy and capabilities of point of care diagnostics kits. The diagnostic test is regulated by the Food and Drug Administration (FDA) in the U.S., and it must go through a lengthy approval process. As a result, businesses must work hard to get strict laws passed. The regulatory authorities’ enforcement of regulations on certain point of care diagnostics testing kits threatens to halt the development of novel diagnostic kits. As a result, the stringent regulatory frameworks is biggest challenge for the growth of the point of care diagnostics market.
Report Highlights
- Based on the product, the blood glucose monitoring segment dominated the point of care diagnostics market in 2020. The diabetic patients need to monitor their glucose levels on a regular basis, which has prompted the adoption of point of care diagnostics among the diabetic patients in this market. The diabetes’s expanding prevalence around the world is projected to drive the segment growth.
- Based on the end user, hospital bedside led the market with highest share in 2020 due to the rising prevalence of chronic diseases.
Regional Snapshot
North America is the largest segment for point of care diagnostics market in terms of region. The U.S. dominates the North America point of care diagnostics market with highest market share. This is mostly due to the country’s growing senior population, as well as other factors such as rising chronic diseases and favorable government legislation and programs aimed at improving the healthcare infrastructure.
Asia-Pacific region is the fastest growing region in the point of care diagnostics market.The point of care diagnostics market is expected to grow rapidly in developing countries such as China, Japan, and India. The growing demand for efficient and effective diagnostics, as well as rising middle class population with regular health issues are factors propelling the growth of point of care diagnostics market. In addition, the point of care diagnostics market in the Asia-Pacific region may benefit from change in consumer lifestyle combined with rising disposable income.
Segments Covered in the Report
By Product
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy & Infertility Testing
- Hematology Testing
- Others
By End User
- Hospital Bedside
- Physician’s Office Lab
- Urgent Care & Retail Clinics
- Homecare/Self-testing
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global point of care diagnostics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for point of care diagnostics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Point of Care Diagnostics Market
5.1. COVID-19 Landscape: Point of Care Diagnostics Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Point of Care Diagnostics Market, By Product
8.1. Point of Care Diagnostics Market, by Product Type, 2021-2030
8.1.1. Blood Glucose Monitoring
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Infectious Diseases
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Cardiometabolic Diseases
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Pregnancy & Infertility Testing
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Hematology Testing
8.1.5.1. Market Revenue and Forecast (2019-2030)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Point of Care Diagnostics Market, By End User
9.1. Point of Care Diagnostics Market, by End User, 2021-2030
9.1.1. Hospital Bedside
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Physician’s Office Lab
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Urgent Care & Retail Clinics
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Homecare/Self-testing
9.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Point of Care Diagnostics Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.2. Market Revenue and Forecast, by End User (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.6.2. Market Revenue and Forecast, by End User (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.6.2. Market Revenue and Forecast, by End User (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.6.2. Market Revenue and Forecast, by End User (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.4.2. Market Revenue and Forecast, by End User (2019-2030)
Chapter 11. Company Profiles
11.1. Cardinal Health Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Trinity Biotech
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Bio-Rad Laboratories Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Thermo Fisher Scientific Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Quest Diagnostics Incorporated
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Quidel Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Abbott Laboratories
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Mesa Biotech
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. F. Hoffmann-La Roche Ltd
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Cepheid
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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