Point-of-Care Diagnostics Market 2021 Growing Share Analysis, Industry Size, Future Growth, Covid-19 Impact Analysis, Key Manufacturers and 2030 Forecast Research Report

In a recent published report, Kenneth Research has updated the market report for Point-of-Care Diagnostics Market for 2021 till 2030. 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 the 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 be 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 Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Diagnostics Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

Global Point-of-Care Diagnostics Market By Products (Infectious Disease Testing, Glucose Monitoring, Hematology Testing, Pregnancy and Fertility Testing, Urinalysis Testing, Cardiometabolic Monitoring, Tumors or Cancer Marker Testing, Coagulation Monitoring, Cholesterol Testing, Drugs of Abuse Testing), Prescription Mode (Prescription-based Point-of-Care Diagnostics, Over-the-Counter-based Point-of-Care Diagnostics), End-users (Hospitals, Clinics/Physician Office Laboratory, Home Care, Ambulatory Care), and Regions (North America, Europe, Asia Pacific, Rest of the World): Global Forecast up to 2025
This market research report includes a detailed segmentation of the global point-of-care diagnostics market by products (infectious disease testing, glucose monitoring, hematology testing, pregnancy and fertility testing, urinalysis testing, cardiometabolic monitoring, tumors or cancer marker testing, coagulation monitoring, cholesterol testing, drugs of abuse testing, and others), by prescription mode (prescription-based point-of-care diagnostics and over-the-counter-based point-of-care diagnostics), by end-users (hospitals, clinics/physician office laboratory, home care, and ambulatory care), and by regions (North America, Europe, Asia Pacific, and Rest of the World).

Overview of the Global Point-of-Care Diagnostics Market Research:
Infoholic’s market research report predicts that the global point-of-care diagnostics market will grow at a CAGR of 7.3% during the forecast period 2019–2025. The market has witnessed steady growth in the past few years, and the advancements in technology with the launch of innovative products have increased the adoption of point-of-care diagnostics products. The market is fueled by the increasing prevalence of infectious diseases, upsurge in the incidence of lifestyle diseases, increasing geriatric population, and rising adoption of the technology in emerging countries.

The market continues to grow as point-of-care diagnostics is one of the most widely used techniques for screening, diagnosis, and making a treatment decision. Key market players are focusing on product approvals, new launches, and targeting end-user’s perspective. The market generates significant revenue from the key players operating in this field, and few of them include Abbott Laboratories, F. Hoffmann-La Roche, Johnson & Johnson, Danaher Corporation, and Siemens Healthineers Inc. (Siemens AG).

According to Infoholic Research analysis, North America accounted for the largest share of the global point-of-care diagnostics market in 2018, and Asia Pacific is expected to grow at a high CAGR during the forecast period. According to a report released by the Centers for Disease Control and Prevention (CDC), in the US alone, more than 100 million adults are now living with diabetes or prediabetes. According to an estimation, in the US, approximately 1,688,780 new cancer cases were diagnosed and 600,920 cancer deaths were reported in 2017. Canada had an estimated 206,200 new cases of cancer and 80,800 deaths from cancer in 2017. Cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the US, and on an average, one person dies from CVD every 40 seconds in the US. Coronary heart disease accounts for the majority of CVD deaths followed by stroke and heart failure. The presence of dominant players in the region, promising reimbursement facilities, availability of hi-tech medical technologies, and growing patient base for lifestyle diseases make North America the dominant shareholder in the market.

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By Products:
• Infectious Disease Testing (influenza testing, HIV testing, hepatitis testing, tuberculosis testing, sexually transmitted diseases testing, healthcare-associated infections testing, respiratory infections testing, others)
• Glucose Monitoring
• Hematology Testing
• Pregnancy and Fertility Testing
• Urinalysis Testing
• Cardiometabolic Monitoring
• Tumors or Cancer Marker Testing
• Coagulation Monitoring
• Cholesterol Testing
• Drugs of Abuse Testing
• Others
Glucose monitoring kits, in terms of point-of-care diagnostics products, held a significant market share in 2018, owing to an increase in the prevalence of diabetes, change in lifestyle, growing elderly population, and increasing demand for disease management. The infectious disease testing segment is expected to grow at a high CAGR during the forecast period 2019–2025.

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By Prescription Mode:
• Prescription-based Point-of-Care Diagnostics
• Over-the-Counter-based Point-of-Care Diagnostics
The prescription-based diagnostic tests occupied the largest share in 2018 with mid-single-digit CAGR, and over-the-counter-based point-of-care diagnostics is estimated to grow at the highest CAGR during the forecast period.

By End-users:
• Hospitals
• Clinics/Physician Office Laboratory
• Home Care
• Ambulatory Care
• Others
Growing preference for home or remote monitoring, introduction of portable point-of-care products, and increasing demand for rapid tests among home care users make home care the fastest-growing segment during the forecast period 2019–2025.

By Regions:
• North America
• Europe
• Asia Pacific
• Rest of the World

Based on geography, North America dominated the market in 2018 with a share of over 40% and is expected to maintain this position during the forecast period. Asia Pacific is projected to grow at a high CAGR during the forecast period. The increasing incidence of chronic and lifestyle diseases, booming economy, and increasing health awareness among patients make North America the fastest-growing region during the forecast period.
Global Point-of-Care Diagnostics Market Research Competitive Analysis: The market is growing at a steady rate with a CAGR of 7.3% during the forecast period 2019–2025.

A lot of new players are concentrating on this market to deliver advanced and innovative products. The increasing adoption of point-of-care diagnostics has resulted in increased approvals, new launches, strategic collaborations, acquisitions, and increased funding. For instance, in February 2019, HemoCue received the FDA approval for its HemoCue Hb 801 System that quantitatively measures hemoglobin in capillary or venous whole blood. In June 2019, Abbott launched its Afinion HbA1c Dx assay available for use on the Afinion 2 Analyzer, as well as the Afinion AS100 Analyzer. Afinion HbA1c Dx assay is the first rapid point-of-care test approved by the FDA to aid healthcare professionals in the diagnosis of diabetes. In March 2019, Group K Diagnostics partnered with the US Centers for Disease Control and Prevention to design and evaluate a prototype reverse transcriptase loop-mediated isothermal amplification assay to detect Zika virus RNA at POC.

Key Vendors:
• Abbott Laboratories
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Danaher Corporation
• Siemens Healthineers Inc. (Siemens AG)
• Trinity Biotech plc
• Qiagen N.V.
• OraSure Technologies Inc.
• Instrumentation Laboratory (IL)
• Becton Dickinson and Company
• Nova Biomedical

Key Competitive Facts:
• The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
• The market is moving strongly toward smart devices that are equipped with mobile healthcare (mH). This smart healthcare option is expected to revolutionize personalized healthcare monitoring and management, thus leading the way for next-generation point-of-care testing.
Benefits – The report provides complete details about the sub-segment of the global point-of-care diagnostics market. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the diagnostics segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.

Key Takeaways:
• Understanding the potential market opportunity with precise market size and forecast data.
• Detailed market analysis focusing on the growth of point-of-care diagnostics industry.
• Factors influencing the growth of the point-of-care diagnostics market.
• In-depth competitive analysis of dominant and pure-play vendors.
• Prediction analysis of the point-of-care diagnostics industry in both developed and developing regions.
• Key insights related to major segments of the point-of-care diagnostics market.
• Latest market trend analysis impacting the buying behavior of the consumers.

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