North America Point of Care Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product, Prescription Mode, and End User

Glucose Monitoring Products Segment to Dominate North America Point of Care Diagnostics Market During 2021-2028

According to a new market research study on “North America Point of Care Diagnostics Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Product, Prescription Mode, and End-user” is expected to reach US$ 38,702.11 million by 2028 from US$ 16,612.40 million in 2021. The market is estimated to grow at a CAGR of 12.8% from 2021 to 2028. The report provides trends prevailing in the North America point of care diagnostics market along with the drivers and restraints pertaining to the market growth. Growing prevalence of infectious diseases and increasing product launches and product developments are the major factor driving the growth of the North America point of care diagnostics market. However, product recalls in Market hinders the growth of North America point of care diagnostics market.

In case of COVID-19, North America is highly affected specially the US. The outbreak of the COVID-19 pandemic situation shown some favorable scenario for players operating in the point of care diagnostics market. Significant population of North America is infected with coronavirus. For instance, the US is a highly affected country in the North American regions. The effect of the corona is mild in adults; however, it is adverse in older people. The infection of corona among older people has resulted in severe complications and has accounted for a good number of deaths in the country. But during the pandemic situation, life science companies engaged in development of novel drugs for the treatment of life threaten diseases. In addition, increasing demand for rapid testing equipment is also playing a prominent role in the growth of the North America point of care diagnostics market. Furthermore, due to the rising numbers of COVID-19 population has positive impact on the adoption of point of care diagnostic kits. This adoption is boosting new product development and launches in the market. For instance, in July 2020, Eurofins U.S. Clinical Diagnostics has announced the availability of its pooled PCR test to detect SARS-CoV-2, which would substantially lower the cost per PCR test for clients. Moreover, in March 2020, Abbott received FDA approval for its molecular point-of-care test for the diagnosis of COVID-19. The test is capable to deliver positive results in five minutes and negative result in less than fifteen minutes. Such product launches are expected to accelerate the growth of the North America point of care diagnostics market.

The North America point of care diagnostics market has been segmented into the product, prescription mode, End-user, and country. Based on product, market has been segmented into the glucose monitoring products, infectious disease testing products, cardiometabolic testing products, pregnancy and fertility testing products, coagulation testing products, tumor/cancer marker testing products, cholesterol testing products, urinalysis testing products, hematology testing products, and other poc products. The glucose monitoring products segment dominated the market in 2020 and infectious disease testing products segment is expected to be fastest growing during forecast period. The infectious disease testing products segment has been further bifurcated into the HIV testing, influenza testing, sexually transmitted disease (STD) testing, hepatitis C testing, healthcare-associated infection (HAI) testing, tropical disease testing, respiratory infection testing, and other infectious disease testing. Based on prescription mode, market has been segmented into the prescription-based testing and OTC testing. The prescription-based testing segment dominated the market in 2020 and is also expected to be fastest growing. Based on End-user, market has been segmented into the professional diagnostic centers, home care, research laboratories, and others. The professional diagnostic centers segment dominated the market in 2020 and home care segment is expected to be fastest growing during forecast period. The professional diagnostic centers is further segmented into the hospitals, clinical laboratories, outpatient healthcare, and ambulatory care settings.

Abbott; BD; bioMerieux SA; BIO-RAD LABORATORIES INC.; Danaher; F. HOFFMANN-LA ROCHE LTD.; Johnson and Johnson Services, Inc.; Nova Biomedical; Polymer Technology Systems, Inc. (PTS); and Siemens AG are among the leading companies in the North America point of care diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Roche announces the filing for FDA Emergency Use Authorization for SARS-CoV-2 Rapid Antigen Test, allowing healthcare professionals to make fast decisions at the point of care.

The report segments the North America Point of Care Diagnostics Market as follows:

North America Point of Care Diagnostics Market - By Product

• Glucose Monitoring Products
• Infectious Disease Testing Products
• HIV Testing
• Influenza Testing
• Sexually Transmitted Disease (STD) Testing
• Hepatitis C Testing
• Healthcare-Associated Infection (HAI) Testing
• Tropical Disease Testing
• Respiratory Infection Testing
• Other Infectious Disease Testing
• Cardiometabolic Testing Products
• Pregnancy and Fertility Testing Products
• Coagulation Testing Products
• Tumor/Cancer Marker Testing Products
• Cholesterol Testing Products
• Urinalysis Testing Products
• Hematology Testing Products
• Other POC Products

North America Point of Care Diagnostics Market - By Prescription Mode

• Prescription-Based Testing
• OTC Testing

North America Point of Care Diagnostics Market - By End-user

• Professional Diagnostic Centers
• Hospitals
• Clinical Laboratories
• Outpatient Healthcare
• Ambulatory Care Settings
• Home Care
• Research Laboratories
• Others

North America Point of Care Diagnostics Market - By Country

• US
• Canada
• Mexico

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• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the point of care diagnostics market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution