The new report by Expert Market Research titled, ‘Global Point-of-Care Diagnostic Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global point-of-care diagnostic market, assessing the market based on its segments like product, platform, mode of purchase, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 8%
The point-of-care diagnostic market is experiencing a rapid boost with the rapid increase in the acute and chronic diseases among the people all over the world. The United Nations has stated that the current time period has the highest aged population in the world history. The developed nations have particularly witnessed a rise in geriatric population who are more prone to acute and chronic diseases. This has given boost to the demand for diagnostic results with short time required for testing without compromising on result reliability. POC diagnostic market has been able to accomplish this and increases its market swiftly.
Industry Definition and Major Segments
Point-of-care diagnostics refer to the medical instruments that are able to provide immediate results in the examination of several diseases. The PoC testing kits are available for variety of uses like monitoring blood glucose, cholesterol or checking drug abuse. The POC diagnostics can be used in home or at the hospital and provide quick but accurate results.
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Based on the product, the POC market can be segmented into:
• Glucose Monitoring Kits
• Infectious Diseases Testing Kits
• Pregnancy and Fertility Testing Kits
• Haematology Testing Kits
• Cardiometabolic Monitoring Kits
• Urinalysis Testing Devices
• Coagulation Monitoring Kits
• Tumour or Cancer Markers Testing Devices
• Cholesterol Testing Strips
• Drugs of Abuse Testing Kits
• Faecal Occult Testing Kits
Based on the platform, the industry can be classified into:
• Lateral Flow Assays
• Molecular Diagnostics
On the basis of mode of purchase, the market can be categorised as follows:
• Prescription-Based Products
• OTC Products
Based on the end use, industry can be categorised into:
• Professional Diagnostic Centres
• Hospitals/Critical Care Centres
• Assisted Living Healthcare Facilities
• Research Laboratories
The report also covers the regional POC diagnostic markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The POC testing kits have seen prominent technological developments. These improvements have reduced the manual errors in testing and improved the accuracy of results. The key players are coming up with more innovative and reliable products that is driving the POC market growth. Healthcare awareness has been constantly rising in the people. The patients suffering from acute and chronic diseases have been growing continuously. The developing nations have rising population who are also having increased disposable incomes. The government funding for healthcare is also increasing. This has led to growing healthcare expenditure which is bolstering the demand for POC diagnostic industry.
Key Market Players
The major players in the market are Abbott Point of Care Inc., F. Hoffmann-La Roche Ltd, Chembio Diagnostics, Inc., Johnson & Johnson Services, Inc., Siemens AG, Becton, Dickinson and Company, and Danaher Corp, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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