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

Professional Diagnostic Centers Segment to Dominate APAC Point of Care Diagnostics Market During 2021-2028

According to a new market research study on “APAC 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$ 15,641.78 million by 2028 from US$ 6,548.48 million in 2021. The market is estimated to grow at a CAGR of 13.2% from 2021 to 2028. The report provides trends prevailing in the APAC point of care diagnostics market along with the drivers and restraints pertaining to the market growth. Rising number of conferences and events and growing use of home-based poc devices are the major factor driving the growth of the APAC point of care diagnostics market. However, growing product recalls hinders the growth of APAC point of care diagnostics market.

In case of COVID-19, APAC is highly affected specially India. Many measures have been implemented to contain the spread of COVID-19, which have resulted in significant operational disruption for many companies including in the healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Rising prevalence and incidence of COVID-19 support the growth of the market in near future forecast period. Increasing launch of PCR tests for detection COVID-19 support the growth of the market. In April 2021, Fujita Health University in Toyoake has started using a fully automated coronavirus testing system from Kawasaki Heavy Industries Ltd. The machine conducts polymerase chain reaction (PCR) test to reducing the risk of infection for technicians. Therefore, the outbreak of the COVID-19 pandemic is estimated to affect high impact on molecular biology enzymes, kits & reagents industry. Moreover, in June 2020, J Mitra & Co Pvt Ltd. an India-based company introduced its state-of-the-art COVID-19 detection kit in Indian market. Further, in May 2021, Mylab Discovery solutions, India-based company introduced home testing kits for Covid-19. The kit incorporates reverse transcription polymerase chain reaction (RT-PCR) technology. Besides, in April 2021, Celltrion, a South Korea based company announced approval and launch of its DiaTrust rapid antigen test for diagnosis of COVID-19. The kit has capacity to deliver results within 15 minutes. Also, in April 2020, India-based company Bione announced launch of India’s first home screening kit for diagnosis of COVID-19. Such product launches and approval to boost market growth during the pandemic in APAC.

The APAC 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 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 during forecast period. 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 APAC 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 2019, HemoCue AB, a subsidiary of Danaher, received US FDA 510(k) approval of the latest point-of-care hemoglobin test, the HemoCue Hb 801 System.

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

APAC 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

APAC Point of Care Diagnostics Market - By Prescription Mode

• Prescription-Based Testing
• OTC Testing

APAC Point of Care Diagnostics Market - By End-user

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

APAC Point of Care Diagnostics Market - By Country

• China
• Japan
• India
• South Korea
• Australia
• Rest of APAC

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC point of care diagnostics market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in APAC point of care diagnostics market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth APAC 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