Point of care testing Market, June 2021 Report On Share Analysis with Demand Status 2021 | Latest Technological Advancement, Industry Trends, Competitive Landscape, Explosive Factors of Revenue by Key Vendors Size Forecast Analysis 2030

In a recently published report, Point of care testing Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Point of care testing Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Point of care testing Market to reach USD 50.5 billion by 2025.Global Point of care testing market valued approximately USD 23.6 billion in 2017 is anticipated to grow with a healthy growth rate of more than 10.0% over the forecast period 2018-2025. Healthcare decentralization coupled with the technological advancements are considered as the key growth trends for the global point of care testing market over the forecast period. 

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Key driving factors for the point of care testing market are high prevalence of chronic and infectious diseases along with the government support to promote point of care testing. According to the fight chronic disease organization in 2015, in U.S. 133 million deaths are caused and disability due to chronic diseases. It is estimated that 45% Americans populations are suffering from at least one chronic disease. Since point of care testing is a faster and efficient diagnostic test that offers better monitoring, diagnosis, disease management. As a result, the adoption and demand for point of care testing products would increase thereby, supplementing the growth of the market over the forecast period. Furthermore, growing awareness of point-of-care testing offers lucrative growth prospects for the point of care testing market across the globe. However, stringent government policies are expected to hinder the growth of the market during the forecast period. 

On the basis of segmentation, the point of care testing market is segmented into product, platform, mode and end-user. The product segment of global point of care testing market is classified into Glucose Monitoring Products, Infectious Disease Testing Products, Cardiometabolic Testing Products, Pregnancy & Fertility Testing Products, Coagulation Testing Products, Tumor/Cancer Marker Testing Products, Pregnancy & Fertility Testing Products, Cholesterol Testing Products, Urinalysis Testing Products, Drugs-of-Abuse Testing Products, Hematology Testing Products, Fecal Occult Testing Products and other POC products of which glucose monitoring testing products accounts the largest share owing to the increasing prevalence of diabetes. On the basis of platform, the market is diversified into microfluidics, lateral flow assays, dipsticks, immunoassays, molecular diagnostics. The end-user segment is classified into research laboratories, home care, professional diagnostics centers and other end-users. Also, the mode segment is bifurcated into OTC-based testing and prescription-based testing. 

The regional analysis of point of care testing market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in point of care testing market owing to the high awareness amongst healthcare providers and patients regarding early disease diagnosis along with increasing healthcare expenditure. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific is witnessed owing to companies engaged in exploiting the untapped opportunities. 

The leading market players include-

 Abbott Laboratories
 Siemens Healthineers
 Roche Diagnostics
 Becton, Dickinson and Company
 Quest Diagnostic
 Johnson & Johnson 
 Danaher Corporation 
 Siemens 
 Accubiotech 
 EKF Diagnostics 

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below: 
By Product 
 Glucose Monitoring Products 
 Infectious Disease Testing Products 
 Cardiometabolic Testing Products 
 Pregnancy & Fertility Testing Products 
 Coagulation Testing Products 
 Tumor/Cancer Marker Testing Products 
 Cholesterol Testing Products
 Urinalysis Testing Products
 Drugs-of-Abuse Testing Products 
 Hematology Testing Products
 Fecal Occult Testing Products 
 Other POC products

By Platform
 Microfluidics 
 Lateral Flow Assays 
 Dipsticks
 Immunoassays 
 Molecular diagnostics

By Mode 
 OTC-based testing 
 Prescription-based testing

 By End-user: 
 Research laboratories 
 Home care 
 Professional diagnostics centers 
 Other End Users

By Regions:
 North America
o U.S.
o Canada
 Europe
o UK
o Germany
o ROE 
 Asia Pacific
o China
o India
o Japan
o ROAPEC 
 LAMEA 
o Brazil
o Mexico 
 ROW
o Middle East & Africa

Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

Target Audience of the Global Point of care testing Market in Market Study:

 Key Consulting Companies & Advisors
 Large, medium-sized, and small enterprises
 Venture capitalists
 Value-Added Resellers (VARs)
 Third-party knowledge providers
 Investment bankers
 Investors

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