The global Point of CareRapid Diagnostics market gathered revenue around USD 28.9 Billion in 2020 and market is set to grow USD 54.6 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 10.9% during the prediction period 2021 to 2027.
Growth Factors:
The marke Factors such as the technological advancements in point of care devices in the market are propelling the growth of the market. Additionally, rising cases of investments from both private and public sectors boosting the research activities are likely to have effect in the growth of point of care diagnostics market. However, lack of proper alignment of POCs with central lab methods, and lower adoption, due to lack of knowledge regarding the use of PoC products for indicative diseases in many low resource economies are likely to hamper the growth of this market.
The recent COVID-19 global pandemic has also impacted the point of care diagnostics market. Demand from the main end-users has increased as key regions and countries demanded for rapid testing kits in order to detect the COVID infection at the earliest. The rapidly growing number of COVID-19 cases and the growing pressure on governments to improve patient management has boosted the demand for rapid testing kits that can be effectively used in point-of-care settings..
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Point of CareRapid Diagnostics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Point of CareRapid Diagnostics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Point of CareRapid Diagnostics market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America is the largest regional market for Point of care diagnostics
North America (comprising the US and Canada) dominates point of care diagnostics market. North America is a gaining traction with the increasing incidence and prevalence of lifestyle diseases. Moreoer resence of major key platers in the region, facourable government scenarios, higher awarness of self tetsing and home care products and significant adoption of novel technologies are likely to paly a major role in fueling the growth of the point of care diagnostics market in the North America.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Point of CareRapid Diagnostics Market are: Roche Diagnostics , Abbott Laboratories , Siemens Healthineers , Becton, Dickinson and Company , Johnson & Johnson , Danaher Corporation , Chembio Diagnostics , Quidel Corporation, EKF Diagnostics , Trinity Biotech , AccuBioTech , Nova Biomedical , PTS Diagnostics , Instrumentation Laboratory Company , and Sekisui Diagnostics .
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Product
- Glucose Monitoring Products
- Cardiometabolic Monitoring Products
- Infectious Disease Testing Products
- Coagulation Monitoring Products
- Pregnancy & Fertility Testing Products
- Fecal Occult Testing Products
- Hematology Testing Products
- Tumor/Cancer Marker Testing Products
- Urinalysis Testing Products
- Drugs-of-abuse Testing Products
- Cholesterol Testing Products
- Other POC Products
By Platform
- Lateral Flow Assays
- Immunoassays
- Microfluidics 1
- Molecular Diagnostics
- Dipsticks
By Mode of Purchase
- OTC Testing Products
- Prescription-based Testing Products
By End Users
- Outpatient & Ambulatory Care Facilities
- Hospitals & Critical Care Centers
- Home Care Settings 5
- Other End Users
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Request Customization
Get a Sample
Get a Sample
Request Customization