POC Diagnostics Market worth USD 81.37 Billion at 9.4% by 2028 Backed by Increasing Investment in Development of POC Kits in Europe, reports Fortune Business Insights™
Key Prominent Players Covered in the POC Diagnostics Market Research Report Are Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Quest Diagnostics Incorporated, BD, bioMérieux SA, Cardinal Health, Inc., Cepheid, Trinity Biotech, Quidel Corporation, Bio-Rad Laboratories Inc, Other Players
Pune, India, Sept. 16, 2021 (GLOBE NEWSWIRE) -- The global POC Diagnostics Market size is expected to gain momentum by reaching USD 81.37 billion by 2028 while exhibiting a CAGR of 9.4% between 2021 and 2028. This information is published by Fortune Business Insights in a report titled “POC Diagnostics Market, 2021-2028.” The report further mentions that the market stood at USD 34.49 billion in 2020. Factors such as the increasing prevalence of chronic diseases and the growing focus on introducing advanced testing kits will favor the growth of the market. According to the United Nations Program data on HIV/AIDS (UNAIDS), in 2019, around 38 million people were diagnosed with HIV/AIDS.
The occurrence of coronavirus has exerted massive economic stress on sectors in various countries. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. Some industries are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
Significant Industry Developments of the POC Diagnostics Market Include:
June 2020 - Celltrion Group launched SARS-CoV-2 point-of-care antigen diagnostic kit. The launch is expected to aid in consolidating its position in the COVID-19 diagnosis management and treatment globally
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What does the Report Include?
The market report includes a detailed qualitative and quantitative analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into the latest trends and highlights key industry developments. The report further includes historical data & forecasts revenue growth at global, regional, and country levels. It analyzes the industry's latest dynamics and opportunities to impact the market growth between 2021 and 2028.
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Increasing Focus on Launch of Innovative Diagnostic Devices to Propel Market Growth
The increasing number of chronic ailments such as infectious disease, diabetes, HIV, etc., propels several pharmaceutical companies to introduce innovative testing kits. This is anticipated to boost the demand for the product. For instance, in June 2019, Abbott introduced the Afinion HbA1c Dx assay, a first-of-its-kind point-of-care test approved by the U.S Food and Drug Administration (FDA) to detect diabetes. The continual efforts exerted by major companies to develop advanced POC kits are therefore expected to contribute to the global POC Diagnostics Market growth during the forecast period.
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North America to Remain Dominant; Increasing Adoption of Advanced POC Kits to Aid Growth
Among all the regions, North America is expected to remain at the forefront and hold the highest market position in the forthcoming years. This is attributable to the increasing adoption of advanced point-of-care (POC) diagnostics kits to detect infectious diseases in the region during the forecast period. North America stood at USD 14.10 billion in 2020.
Europe is expected to hold the second position in the market during the forecast period. This is due to the increasing investment in developing point of care (POC) diagnostics in countries such as Germany, Spain, and France. For instance, in November 2019, Linear Diagnostics secured an investment worth USD 2.6 million to develop an advanced optical POC diagnostic testing platform to detect sexually transmitted diseases.
List of Manufacturers in the POC Diagnostics Market include:
- Hoffmann-La Roche Ltd
- Thermo Fisher Scientific Inc.
- Abbott Laboratories
- Quest Diagnostics Incorporated
- BD
- bioMérieux SA
- Cardinal Health, Inc.
- Mesa Biotech
- Cepheid
- Trinity Biotech
- Quidel Corporation
- Bio-Rad Laboratories Inc.
- Other Players
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Global POC Diagnostics Market Segmentation:
- Introduction
- Market Scope
- Market Segmentation
- Market Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Global POC Diagnostics Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy & Infertility Testing
- Hematology Testing
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospital Bedside
- Physician’s Office Lab
- Urgent Care & Retail Clinics
- Homecare/Self-testing
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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