Worldwide Point of Care Diagnostics Market Size was US$ 29.04 Billion in 2021
Around the world, testing devices have been designed for point of care with reduced footprints and ability to analyze a larger range of biomarkers, making them more flexible than machinery in the central laboratory. Portability and versatility have expanded POC testing’s capability; diagnoses are conducted in less traditional places, such as lower-income and under-served populations, rural regions, and areas with limited infrastructure. Furthermore, the factors that drive the global Point of Care diagnostic are the surging prevalence of diseases which demand for better treatment and rapid diagnostic services. Staff shortages in clinical laboratories are primarily driving the demand for POC diagnostics.
United States Point of Care Diagnostics Market has the Lion’s Share
In this report we have covered by Country such as the United States, China, Japan, United Kingdom, Germany, Spain, Italy, Argentina, India, Brazil, Canada, and Mexico. The United States holds the dominant position across countries covered in this report and expected to continue its dominance during forecast period. The factors that contribute to this country's growth are the surging geriatric population base in the country, rising prevalence of diseases, and the favorable government regulations and initiatives undertaken to develop healthcare infrastructure. Emerging countries has been growing continuously and tend to do well during the forecast period as suggested by our analyst.
COVID-19 Impact on Point of Care Diagnostics Industry
Around the world, industries have been impacted by COVID-19 pandemic outbreak due to lockdowns, restrictions, and unavailability of transportation. But point of care diagnostics technologies has grown many folds. With many technologies approved during the pandemic for commercialization in the past 10 months, the field of COVID-19 POC diagnostics is rapidly evolving. As such, worldwide companies are in search of developing these devices to provide a reliable method of virus detection. The point of care market has multiplied during the pandemic and will surge post-recovery as expected. As per our research findings, the global Point of Care Diagnostics Industry will grow at a CAGR of 7.17% during 2021-2027.
This report “Global Point of care diagnostic Market by Diagnostic types (Glucose Monitoring Infectious Disease, Pregnancy & Fertility Testing Market, Hermatology Testing, Cardio metabolic Monitoring, Coagulation Monitoring, Urinalysis, and Tumor Markers) Technology (Biosensor, Lateral Flow, Agglutination, Flow Through, Solid phase) End Users (Hospital, Clinics, Diagnostic centers, Others) Country (United States, China, Japan, United Kingdom, Germany, Spain, Italy, Argentina, India, Brazil, Canada, Mexico) Company (Sysmex, Abbott Laboratories (US, Becton Dickinson and Company (US), Danaher Corporation (US),Quidel Diagnostics (US)) provides in-depth analysis on the Point of care global industry.
Diagnostics Types – Market breakup from 8 viewpoints
1. Glucose Monitoring
2. Infectious Disease
3. Pregnancy & Fertility Testing Market
4. Hermatology Testing
5. Cardiometabolic Monitoring
6. Coagulation Monitoring
7. Urinalysis
8. Tumor Markers
Technology - Market breakup from 5 viewpoints
1. Biosensor
2. Lateral Flow
3. Agglutination
4. Flow Through
5. Solid phase
End User - Market breakup from 4 viewpoints
1. Hospital
2. Clinics
3. Diagnostic centers
4. Others
Country - Market breakup of 12 countries
1. United States
2. China
3. Japan
4. United Kingdom
5. Germany
6. Spain
7. Italy
8. Argentina
9. India
10. Brazil
11. Canada
12. Mexico
All companies have been covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Companies Profile
1. Sysmex
2. Abbott Laboratories (US)
3. Becton Dickinson and Company (US)
4. Danaher Corporation (US)
5. Quidel Diagnostics (US)
Table of Contents
Companies Mentioned
- Sysmex
- Abbott Laboratories (US)
- Becton Dickinson and Company (US)
- Danaher Corporation (US)
- Quidel Diagnostics (US)
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | November 2021 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 29.04 Billion |
| Forecasted Market Value ( USD | $ 44 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
