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Point of Care Diagnostics Market Size, Analytical Overview, Growth Factors, Demand, Trends and Global Forecast To 2028

The market is projected to grow from USD 41.49 billion in 2021 to USD 36.21 billion in 2028 at a CAGR of -1.9% during the 2021-2028 period

The Point of Care Diagnostics Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The Point of Care Diagnostics Market by region.

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Due to the increased burden in minimizing the number of patient populations suffering from various diseases (diabetes, infectious disease, HIV, etc.), pharmaceutical giants have become focused on introducing innovative and accurate testing kits. This is likely to boost the global market value by pushing higher sales and adoption. For example, in June 2019, Abbott announced the launch of the Afinion HbA1c Dx assay. This assay is the first-of-its-kind POC diagnostics test that the U.S. Food & Drug Administration has approved for the diagnosis of diabetes. Additionally, in February 2019, DiabetOmics announced the launch of the POC diagnostics test Lumella for preeclampsia in pregnant women accurately. Therefore, constant product launches by key players are likely to contribute to the generation of higher market revenue during the forecast period.

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Pre-Post COVID-19 Impact on Global Point of Care Diagnostics Market

COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.

In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Point of Care Diagnostics Market, since end-user industries were still not operating at their full capacity.

Who are the Major Point of Care Diagnostics Market Vendors?

  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)
  • Thermo Fisher Scientific Inc. (Massachusetts, U.S.)
  • Abbott Laboratories (Illinois, U.S.)
  • Quest Diagnostics Incorporated (New Jersey, U.S.)
  • BD (Franklin Lakes, U.S.)
  • bioMérieux SA (Marcy l’Etoile, France)
  • Cardinal Health, Inc. (Ohio, U.S.)
  • Mesa Biotech (California, U.S.)
  • Cepheid (California, U.S.)
  • Trinity Biotech (Bray, Ireland)
  • Quidel Corporation (San Diego, U.S.)
  • Bio-Rad Laboratories Inc. (California, U.S.)

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Secondary Research:

This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research:

Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.

 

Estimation of Market Size

The total size of the Point of Care Diagnostics Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:

Extensive secondary research was used to identify the industry’s key players.

The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.

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North America United States, Canada and Mexico
Europe Germany, UK, France, Italy, Russia and Turkey etc.
Asia-Pacific China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc.
South America Brazil, Argentina, Columbia etc.
Middle East & Africa Saudi Arabia, UAE, Egypt, Nigeria and South Africa

FAQs:

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  • What is the future of Point of Care Diagnostics Market?
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