Selbyville, Delaware, May 03, 2021 (GLOBE NEWSWIRE) -- As cited by seasoned experts, global point of care diagnostic and testing market was valued at USD 26.8 billion in 2019 and is estimated to grow at 3.3% compound annual growth rate during 2020-2027, subsequently accounting for USD 34.8 billion by the end of the analysis period.
The report bifurcates the marketplace into various segments, based on product type, end-user terrain, competitive scenario, and geographic reach. Figures reflecting market share forecasts, alongside growth rate projections of each segment are included in the document.
Furthermore, the study sheds light upon the geographical outlook, while assessing the contribution of each region towards the overall market remuneration. The study delivers a methodical analysis of the prominent players which have a strong presence in this vertical. It also systematically presents the product & services portfolios of each contender, illuminating their individual growth strategies.
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Shifting preferences from conventional diagnostics methods towards POC diagnostics coupled with the ability to offer diagnosis as per the patient’s convenience are positively swaying global point of care diagnostic and testing market dynamics.
POC diagnostics and testing refers to the medical devices which are utilized to obtain immediate results of diagnosis and monitoring of diseases such as diabetes, heart conditions, cancer, and hepatitis among others.
Additionally, advent of advanced technologies, growing geriatric population, rising prevalence of infectious as well as chronic diseases, incorporation of remote access in these diagnostic methods, and high time-efficiency due to quick results are stimulating the overall market outlook.
Speaking of the restraining factors, lack of awareness in developing countries and high costs associated with the procedure are expected to obstruct business development in the forthcoming years.
Market segmentations
Based on product type, global point of care diagnostic and testing market is split into blood gas/electrolytes, primary care systems, hematology, thyroid stimulating hormone, cardiac markers, coagulation, Hb1ac testing, glucose testing, and others.
The end-user terrain of the industry is bifurcated into laboratory, assisted living healthcare facilities, home, clinics, and hospitals among others.
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Regional Scope
Geographically, the overall market is fragmented into North America, Europe, Latin America, Asia-Pacific, and rest of the world. Among these, North America currently holds the largest market share, on account of high concentration of prominent market vendors and favorable government initiatives which are aimed at supporting the adoption of a patient-centric care approach.
Meanwhile, Asia-Pacific point of care diagnostic and testing market is touted to amass lucrative returns, exhibiting the highest compound annual growth rate during 2020-2027. Growing prevalence of infectious as well as chronic diseases along with rapid infrastructural development in the healthcare sectors of India and China are fostering the regional market expansion.
Global Point of Care Diagnostic and Testing Market Product Type Sub-segments (Revenue, USD Billion, 2017-2027)
- Blood Gas/Electrolytes
- Primary Care Systems
- Hematology
- Thyroid Stimulating Hormone
- Cardiac Markers
- Coagulation
- Hb1ac Testing
- Glucose Testing
- Others
Global Point of Care Diagnostic and Testing Market End-User Dynamics (Revenue, USD Billion, 2017-2027)
- Laboratory
- Assisted Living Healthcare Facilities
- Home
- Clinics
- Hospitals
- Others
Global Point of Care Diagnostic and Testing Market Regional Outlook (Revenue, USD Billion, 2017-2027)
North America
- United States of America
- Canada
Europe
- Italy
- Spain
- Germany
- United Kingdom
- France
- Rest of Europe
Latin America
- Mexico
- Brazil
Asia-Pacific
- India
- South Korea
- China
- Australia
- Japan
- Rest of APAC
Rest of the World
Global Point of Care Diagnostic and Testing Market Competitive Scenario (Revenue, USD Billion, 2017-2027)
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- Nova Biomedical Corporation
- Danaher Corporation
- Biomerieux SA
- Becton, Dickinson & Co. (BD)
- Abbott Laboratories
- Zoetis Inc.
- Siemens Healthcare AG
- Instrumentation Laboratory S.p.A.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Point of Care Diagnostic and Testing Market, by Region, 2018-2027 (USD Billion)
1.2.2. Point of Care Diagnostic and Testing Market, by Product Type, 2018-2027 (USD Billion)
1.2.3. Point of Care Diagnostic and Testing Market, by End-Use, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Point of Care Diagnostic and Testing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Point of Care Diagnostic and Testing Market Dynamics
3.1. Point of Care Diagnostic and Testing Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Point of Care Diagnostic and Testing Market: Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Point of Care Diagnostic and Testing Market, by Product Type
5.1. Market Snapshot
5.2. Global Point of Care Diagnostic and Testing Market by Product Type, Performance - Potential Analysis
5.3. Global Point of Care Diagnostic and Testing Market Estimates & Forecasts by Product Type 2017-2027 (USD Billion)
5.4. Point of Care Diagnostic and Testing Market, Sub Segment Analysis
5.4.1. Glucose Testing
5.4.2. Hb1ac Testing
5.4.3. Coagulation
5.4.4. Cardiac Markers
5.4.5. Thyroid Stimulating Hormone
5.4.6. Hematology
5.4.7. Primary Care Systems
5.4.8. Blood Gas/Electrolytes
5.4.9. Others
Chapter 6. Global Point of Care Diagnostic and Testing Market, by End-Use
6.1. Market Snapshot
6.2. Global Point of Care Diagnostic and Testing Market by End-Use, Performance - Potential Analysis
6.3. Global Point of Care Diagnostic and Testing Market Estimates & Forecasts by End-Use 2017-2027 (USD Billion)
6.4. Point of Care Diagnostic and Testing Market, Sub Segment Analysis
6.4.1. Hospitals
6.4.2. Clinics
6.4.3. Home
6.4.4. Assisted Living Healthcare Facilities
6.4.5. Laboratory
Chapter 7. Global Point of Care Diagnostic and Testing Market, Regional Analysis
Related Report:
Point of Care Testing Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
One of the most crucial verticals within the healthcare and medical devices space, global point of care testing market is slated to witness exponential growth over the next few years. The rapid increase in occurrence of chronic diseases and a large geriatric population across the globe has augmented the need for advanced diagnostic procedures and technologies. In terms of the product landscape, global point of care testing industry is segmented into glucose monitoring, infectious diseases testing products, cardiometabolic testing products, coagulation testing products, tumor & cancer marker testing products, pregnancy & fertility testing products, drug-of-abuse testing products, hematology testing products, and cholesterol testing products.
Cardiometabolic testing market size was pegged at USD 2.5 billion in 2019. The test provides a clinically relevant evaluation to help identify a patient's risk for cardiovascular inflammation, progression towards type 2 diabetes (pre-diabetes), and atherosclerotic cardiovascular disease (ASCVD).
Considering the technology, global point of care testing market is bifurcated into lateral flow assays, biosensors, dipsticks, flow-through, microfluidics, immunoassays, molecular diagnostics, agglutination assays, and solid phase. The biosensors technology segment is projected to be worth more than US$11.8 billion by 2026.
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