Pune, July 20, 2022 (GLOBE NEWSWIRE) -- The global point of care diagnostics market is expected to clock US$ ~92.6 billion by 2031 owing to the rising prevalence of target diseases, growing volume of POC tests, and launch of advanced POC diagnostics by the market players.
Growth Engines
Burden of various diseases such as diabetes, cardiac, cancer, and infectious diseases is growing and so is the demand for diagnostic tests. In order to meet the growing demand, companies in the market are focused on launching new and advanced POC diagnostics. Citing the growth potential, there are several emerging players that are raising funds or investment for their R&D programs associated with the POC devices.
For instance, in February 2021, Linear Diagnostics Ltd, a Birmingham-based University secured £800,000 (US$ 1.1 million) as the company’s second round of funding to commence the development of point of care diagnostics platform. The innovation in POC diagnostics supported by the fundings and investments will drive the growth of the point of care diagnostics market during the projected period.
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Report Title: “Point of Care Diagnostics Market by Products (Glucose Monitoring, Cardiometabolic Monitoring, Pregnancy & Fertility Testing, Infectious Disease Testing, Hematology Testing, Urinalysis Testing, and Drug Abuse Testing), Materials (Hospitals & Critical Care Centers, Outpatient & Ambulatory Care Facilities, and Home Care Settings) – Global Outlook & Forecast 2021-2031”
The global point of care diagnostics market has been analyzed from three perspectives: Product, End User, and Region.
Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the global point of care diagnostics market include
- F. Hoffmann-La Roche Ltd
- Abbott laboratories Inc
- Qiagen N.V
- Danaher Corporation
- Becton
- Dickinson and Company
- Quidel Corporation
- Siemens AG
- Johnson & Johnson Services, Inc
- Quest Diagnostics Inc
- Trinity Biotech
- Among Others
Excerpts from ‘By Product Segmentation’
Based on product, the point of care diagnostics market has been segmented into
- Glucose Monitoring
- Cardiometabolic Monitoring
- Pregnancy & Fertility Testing
- Infectious Disease Testing
- Hematology Testing
- Urinalysis Testing
- Drug Abuse Testing
- Other Poc Products
Glucose monitoring products segment held the largest share of the point of care diagnostics market in 2020. The large share of this segment can be attributed to factors such as large diabetic patient and large number of glucose monitoring tests performed for these patients. Cardiometabolic monitoring is also a prominent segment in the global point of care diagnostics market. Increasing prevalence of cardiovascular diseases, growing incidence in younger populations, growing exposure to lifestyle associated risk factors such as dietary habits and sedentary lifestyle are the chief contributors affecting increasing uptake of cardiometabolic POC diagnostic solutions in the global market.
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Excerpts from ‘By Region Segmentation’
Regionally, the global point of care diagnostics market has been segmented into
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
North America held the largest share of the global point of care diagnostics market in 2020. Highly developed healthcare infrastructure, the rising incidence of target diseases, greater adoption of point-of-care tests, and better health insurance policies are some of the factors fueling the growth of point of care diagnostics in the region. Asia Pacific market is characterized by increased availability of POC diagnostic solutions in the regional market. Realizing the untapped opportunities in the region, facilitated by rapid development of healthcare infrastructure in countries such as India, Thailand, Malaysia, Singapore and the Philippines, the Asia Pacific market is anticipated to grow at a rapid pace during the forecast period.
Point of Care Diagnostics Market Segmentation:
Point of Care Diagnostics Market - By Products
- Glucose Monitoring
- Cardiometabolic Monitoring
- Pregnancy & Fertility Testing
- Infectious Disease Testing
- Hematology Testing
- Urinalysis Testing
- Drug Abuse Testing
Point of Care Diagnostics Market – Materials
- Hospitals & Critical Care Centers
- Outpatient & Ambulatory Care Facilities
- Home Care Settings
Report Scope & Segmentation:
| Report Coverage | Details |
| Market Size in 2020 | USD ~ 28.95 billion |
| Revenue forecast in 2031 | USD ~ 92.6 billion |
| Growth Rate | CAGR of ~ 11.2% from 2022 to 2030 |
| Base year for estimation | 2020 |
| Forecast period | 2021-2031 |
| Segments covered | By Products, Materials |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
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- Investment & Initiatives Analysis
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