Pune, India, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The Global point of care diagnostics market Size is projected to grow during the forecast period due to the increasing incidences of infectious and chronic diseases. Fortune Business Insights™ publishes this information in a report titled, Point of Care Diagnostics Market 2029. As per the report, the point of care diagnostics market size was valued at USD 46.65 billion in 2021. The market size is expected to rise from USD 36.37 billion in 2022 to USD 51.94 billion by 2029 at a CAGR of 5.2% during the projected period.
Key Industry Development:
December 2021 - Thermo Fisher Scientific and Color Health collaborated to launch a k-12 readycheckgo covid-19 testing solution for Texas schools.
June 2020: Celltrion Group announced the SARS-CoV-2 point-of-care antigen diagnostic kit. This will help expand access to COVID-19 diagnosis management and treatment globally
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 5.2% |
| 2029 Value Projection | USD 51.94 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 36.37 billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 182 |
COVID-19 Impact:
Increasing Manufacturing Of Test Kits To Bolster Market Growth
The outbreak of COVID-19 pandemic affected various industries in terms of revenue generation and production. However, the healthcare sector has witnessed a positive impact of this pandemic. The point of care diagnostics had high demand in the market due to increasing cases of COVID-19 and rising demand for frequent tests. During the pandemic, key market players have launched new products to meet customer demands. These factors have bolstered the market growth during the pandemic period.
Drivers & Restraints:
Rising Adoption of Decentralized Healthcare Systems To Propel Growth
The market for point of care diagnostics is expected to grow significantly during the forecast period due to increasing incidences of chronic diseases and the rising spread of infectious diseases. Also, the growing inclination towards decentralized health systems is expected to drive the market. Furthermore, key market players' adoption of recent developments and technological advancements in the industry is projected to fuel the market during the forecast period. These factors are expected to ensure point of care diagnostics market growth in the coming years. However, increasing risks and lack of accuracy in test conduction may hamper the market growth.
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Segments:
Blood Sample Segment Dominates The Market To Conduct Various Disease Diagnosis
By product type, the market is divided into blood glucose monitoring, infectious disease testing, cardiometabolic disease testing, pregnancy & fertility testing, hematology testing, and others.
Based on the sample, the market is segregated into blood, nasal & oropharyngeal swabs, urine, and others.
On the basis of end-user, the market is segmented into hospital bedside, physician’s office lab, urgent care & retail clinics, and home & self-testing.
Geographically, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
| Point of Care Diagnostics Market Segmentation | By Product
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By Sample
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By End User
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Regional Insights:
North America Holds Highest Market Share Due to Favorable Reimbursement Policies
North America dominates the global point of care diagnostics market share due to increasing cases of infectious diseases and the rising prevalence of chronic diseases among the population. The North American market stood at USD 14.48 billion in 2021. The regional market growth is expected to continue during the forecast period due to favorable reimbursement policies that are anticipated to boost the service demand.
Europe is expected to hold the second-highest position in the global market during the forecast period due to the increasing production of innovative products. Also, increasing government investment in R&D is expected to drive regional market growth.
Competitive Landscape:
Key Players Launch New Products To Enhance Their Product Portfolio
The Point of Care Diagnostics Market key players focus on implementing beneficial business growth strategies such as forming strategic alliances and collaborating with the supporting organizations. Also, implementing recent technologies and innovative product development ideas allow companies to improve their overall business performance and propel market growth.
List of Key Players Profiled in the Point of Care Diagnostics Market Report
- F. Hoffmann-La Roche Ltd (Basel, Switzerland)
- Thermo Fisher Scientific Inc. (Massachusetts, U.S.)
- Abbott Laboratories (Illinois, U.S.)
- Quest Diagnostics Incorporated (New Jersey, U.S.)
- BD (Franklin Lakes, U.S.)
- bioMérieux SA (Marcy l'Etoile, France)
- Cardinal Health, Inc. (Ohio, U.S.)
- Mesa Biotech (California, U.S.)
- Cepheid (California, U.S.)
- Trinity Biotech (Bray, Ireland)
- Quidel Corporation (San Diego, U.S.)
- Bio-Rad Laboratories Inc. (California, U.S.)
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Detailed Table of Content:
- Point of Care Diagnostics Market Insights
- Overview: Details on Causative Agents Responsible for Infectious Diseases
- Prevalence of Key Disease Indications– For Key Country/Region
- Technological Advancements in the Point of Care Diagnostics
- New Product Launch
- Overview of Regulatory Scenario
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Overview of COVID-19 Impact on POC Diagnostics Market
- Major Factors Driving the Impact of COVID-19
- Reimbursement Changes in Response to COVID-19 Impact
- Opportunities Offered by the Impact of COVID-19
- Overview of Global IVD Market, 2021
- Global Point of Care Diagnostics Market 2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy & Infertility Testing
- Hematology Testing
- Others
- Market Analysis, Insights and Forecast – By Sample
- Blood
- Nasal and Oropharyngeal Swabs
- Urine
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospital Bedside
- Physician’s Office Lab
- Urgent Care & Retail Clinics
- Homecare/Self-testing
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Point of Care Diagnostics Market Analysis, Insights and Forecast, 2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy & Infertility Testing
- Hematology Testing
- Others
- Point of Care Diagnostics Market 2029 Analysis, Insights and Forecast – By Sample
- Blood
- Nasal and Oropharyngeal Swabs
- Urine
- Others
TOC Continued…!!
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Frequently Asked Questions:
- What does the POC Diagnostics Report Include?
The market report includes a detailed qualitative and quantitative analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into the latest trends and highlights key industry developments. The report further includes historical data & forecasts revenue growth at global, regional, and country levels. It analyzes the industry's latest dynamics and opportunities to impact the market growth between 2022 and 2029.
- What are the top players in the Point of care Diagnostics Market?
F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, BD, Cardinal Health, Inc., Mesa Biotech, Cepheid, Trinity Biotech, Quidel Corporation, Bio-Rad Laboratories Inc
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