Point-of-care Diagnostics Market

Report Description
Table of Contents

Report Description

The global point-of-care diagnostics market size is estimated to be USD xx billion in 2021 and is expected to witness a CAGR of xx% during the forecast period. Introduction of improved technologically facilitated products is a key driver for the growth of the global point-of-care diagnostics market. Additionally, increase in occurrence of infectious diseases globally and growth in the cases of target diseases are some of the other drivers propelling the market growth. Nevertheless, high cost of point-of-care diagnostics devices in the emerging economies and incidence of unclear regulatory & repayment structure are expected to restrain the global market growth.

Global Point-of-care Diagnostics Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Product

Based on product, the market is segmented into glucose testing, lipid testing, Hb1Ac testing, cardiac markers, coagulation, fertility, infectious diseases, thyroid stimulating hormone, haematology, primary care systems, decentralized clinical chemistry, faeces, cancer marker, blood gas/electrolytes, ambulatory chemistry, drug abuse testing, and urinalysis. In 2021, the infectious diseases segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to rise in cases of infectious and chronic diseases along with shift from centralized laboratories to decentralized point-of-care testing worldwide. Cardiac markers segment projected to grow at a profitable CAGR during the forecast period. This is attributed to increase in accurateness rates allied with these markers and the growing occurrence of target diseases.

By End User

Based on end user, the market is segmented into hospitals, assisted living healthcare facilities, clinics, home, and laboratory. In 2021, the clinics segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to growth in access for patients to new diagnostic technologies along with refining healthcare coverage worldwide. Home segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the application of point of care devices in the home healthcare sector that has permitted patients to address healthcare challenges at home and take judgements promptly.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the quickly increasing COVID-19 cases, presence of major players in the region, growth in initiatives from government, accessibility of technological advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the increasing cases of chronic and targeted diseases in various countries, growing government and corporate investment in healthcare sector, increase in the adoption of scale down models resulting in procedures adopted for the decrease in hospital stays are the major factors in this region.

Competitor Insights

Some of the key players in the point-of-care diagnostics market are F. Hoffmann-La Roche AG (Switzerland); QIAGEN (Germany); Danaher Corporation (U.S.); Becton, Dickinson and Company (U.S.); bioMérieux SA (France); Abbott Laboratories (U.S.); Siemens Healthineers AG (Germany); Zoetis, Inc. (U.S.); Home Diagnostics, Inc. (U.S.); Instrumentation Laboratory Company (U.S.); and Nova Biomedical Corporation (U.S.). The leading players operating in the point-of-care diagnostics industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2018 to 2026. The point-of-care diagnostics market report is categorized into the following segments and subsegments: