Global Point of Care Diagnostics Market Ecosystem by Products, Prescription Mode, Platform, End User (Hospitals & Clinics, Homecare & DTC, Others) and Region - Forecast to 2027

Point of Care Diagnostics Market Overview

This report evaluates “Global Point of Care Diagnostics Market-Ecosystem” by studying Ecosystem analysis, trend intelligence and market revenue analysis. Point of care diagnostics, also referred to as near patient or bedside testing, involves the use of medical devices for the quick diagnosis of various diseases including diabetes, cardiovascular diseases, and cancer, amongst others. Rising inclination of physicians and healthcare providers to use point-of-care devices owing to various advantages offered by these devices, such as ease of use and rapid diagnosis which facilitate better diagnosis and management, has led to increasing adoption of these devices in healthcare settings. However, the accuracy of point-of-care tests remains a major challenge for PoC diagnostics manufacturers. The accuracy factor hinders the growth of Point of Care Diagnostics Market Ecosystem.

Point of Care Diagnostics Market Ecosystem Size 

Global Point of Care Diagnostics Market Ecosystem was valued at US$ 17,886.3 Mn 2018 and is anticipated to grow US$ 30,175.3 Mn 2027, growing at a CAGR of 6.8% during the forecast period 2018-2027.

The Point of Care Diagnostics market has witnessed the launch of new and technologically advanced products in the past few years. Companies such as Roche, Abbott, and Quidel have aggressively launched products for the PoC diagnosis of various diseases. Mergers and acquisitions are one of the key strategies adopted by the companies to increase their market share. For instance, Abbott completed the acquisition of Alere Inc. in 2017, to become a leader in the point-of-care diagnostics market. 

COVID-19 Impact Analysis & Opportunities in Point of Care Diagnostics Market

The outbreak of COVID-19 has bought along a global recession, which has impacted several industries. Along with this impact COVID Pandemic has also generated few new business opportunities for Point of Care Diagnostics market. Overall competitive landscape and market dynamics of Point of Care Diagnostics has been disrupted due to this pandemic. All these disruptions and impacts has been analysed quantifiably in this report, which is backed by market trends, events and revenue shift analysis. COVID impact analysis also covers strategic adjustments for Tier 1, 2 and 3 players of Point of Care Diagnostics industry.

Ecosystem Snapshot of Point of Care Diagnostics Market

                                    

Point of care diagnostics industry ecosystem is driven due to the fact that the test results can be obtained within a few seconds to a few hours. Faster TAT can be particularly important in case of a suspected heart attack. An accurate and fast diagnosis helps physicians rule in or rule out a heart attack, and decide the course of treatment. Faster TAT also helps improve the operational efficiency of clinical settings and exerts a positive impact on clinical decision-making. Improvements in the turnaround time for test result lead to an increase in demand for point-of-care tests.

Chronic diseases such as diabetes, hypertension, and cardiovascular diseases are increasing the burden on the healthcare systems across the globe. For instance, as per IDF estimates, the prevalence of diabetes will increase from 425 million in 2017 to 629 million by 2045. The regular use of point-of-care devices for the management of chronic diseases can help improve patient outcomes and enable fast and better clinical decision-making. These factors contributes to the growth of point of care diagnostics market ecosystem.

Due to the spread of Novel Coronavirus, the U.S. department of Health and Human Services (HHS)  is providing full support to Mesa Biotech to develop rapid diagnostic device to detect the Corona infection. In March 2020, Aytu Biosciences Inc. has announced that the company has signed a distribution agreement to commercialize the use of Point of care devices for detecting the Novel Corona infection that deliver clinical results in few minutes.

Point of Care Diagnostics Market Ecosystem Segmentation           

Products	Prescription Mode	Platform	End User
Glucose Monitoring Products	Prescription	Microfluidics	Hospitals & Clinics
Infectious Disease Testing Products	OTC	Immunoassays	Homecare & DTC
Coagulation Testing Products			Others
Cardiometabolic Testing Products
Haematology Testing Products
Pregnancy & Fertility Testing Products
Cancer/Tumor Market testing products
Urinalysis Testing Products
Other PoC Testing Products

Regional Overview of Point of Care Diagnostics Market

North America accounted for a share of 35.9% among the global point of care diagnostics market in the year 2018. The major factors responsible for the dominance of this region are high awareness regarding point-of-care tests and the availability of sophisticated healthcare infrastructure. Apart from this, favorable reimbursement policies and the presence of a large target patient population are contributing to the dominance of this region.

In case of point of care diagnostics market, the Asia Pacific is the most attractive region for investment. The APAC point-of-care diagnostics market is expected to grow at a CAGR of 7.1% during the forecast period. The growth of the point-of-care diagnostics market in this region is mainly due to the presence of a high target population and increasing demand for quality healthcare. Due to the lucrative growth opportunities in this region, many major industry players are developing products, particularly for this market.

In Europe, increasing government initiatives taken for shortening hospitals stays and improving healthcare infrastructure will lead to an increase in the adoption of PoC tests. Countries in Western Europe, particularly Germany, the United Kingdom, and Italy are leading the Europe point of care diagnostics market in terms of consumption. Germany accounted for the highest share of 23.6% in 2018. High adoption of point-of-care tests in clinical settings and for self-testing is expected to drive the growth of the Point of Care diagnostics market in Germany.

Point of Care diagnostics Market Ecosystem Statistics Glimpse

                                   

There are many trends that are having an impact on the market forecast. These, when evaluated from a company’s perspective, can drive growth. Our numerous consulting projects have generated sizeable synergies across all regions and all sizes of companies.

The major players operating in the global point of care diagnostics market are as follows:

Company	Ecosystem Positioning	Total Revenue 2018 (US$ Mn)	Region
F. Hoffmann-La Roche Ltd	Product Manufacturer	$ 57,982.9 Million	Global
Abbott Laboratories	Product Manufacturer	$ 30,578 Million	Global
Danaher Corporation	Product Manufacturer	$ 19,893 Million	Global
Siemens Healthineers	Product Manufacturer	$ 15,174.8 Million	Global
Becton Dickinson & Company	Product Manufacturer	$ 15,983 Million	Global

Very few markets have interconnectivity with other markets. Our Interconnectivity module focuses on the key nodes of heterogeneous markets in detail. Smart Glucose Meters, Diabetic Lancing Device, Microfluidics, Hospitals and Clinics are some of our key researched markets.  

Point of Care Diagnostics Market: Major Interconnectivity

        

 

A Glance on Global Point of Care Diagnostics Market Trends:

Key Trends	Products	Impact on the Market
Companies are investing in the development of molecular point-of-care diagnostic devices for the diagnosis of infectious diseases, as these are more effective as compared to LFIAs	Infectious diseases testing	0.84%
There has been an increase in the usage of ovulation and fertility tracking websites/apps. Most of these apps use basal body temperature as a parameter for fertility/ovulation tracking. Increased usage of such apps may negatively impact the fertility testing kits market.	Pregnancy and Fertility Testing	0.25%
Companies are aggressively investing for the development of point-of-care tests for the detection of the novel coronavirus.	Infectious diseases testing	0.64%

Related Reports