The latest market publication titled Point-of-Care Diagnostics Market by Region, Segment, Product 2022-2027 has been added to the report store by GlobalData Plc. The market is anticipated to witness considerable growth during the forecast period due to the increase in funding from multiple sources for developing novel products and the requirement to address the COVID-19 outbreak. Numerous other factors, such as the rising incidences of lifestyle diseases such as cardiac diseases and diabetes, the rising usage of home-based point-of-care devices, and technological advancements in molecular testing, are stimulating the demand for point-of-care testing.
Global Point-of-Care Diagnostics Market Outlook, 2021-2027
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Point-of-Care Diagnostics Market Segment Highlights
- Glucose Monitoring: In 2021, glucose monitoring products held the largest POC diagnostics market share. The market in focus growth is largely attributed to the growing prevalence of diabetes, growing patient awareness about point-of-care testing, and technological advancements in blood glucose monitoring devices.
- Infectious Diseases Testing
- Cardiometabolic Monitoring
- Pregnancy and Fertility Monitoring
- Lateral Flow Assays: The lateral flow assays platform segment will account for the highest POC diagnostics market growth in 2021. Approval of novel products and the increase in research and development are the factors driving the demand for lateral flow assays segment. These assays can be used for the diagnosis and prognosis of diseases like cancer by identifying specific biomarkers. Lateral flow assay strips are extensively used in point-of-care testing. This technology has progressed over time with digital pregnancy tests as the next-generation tests.
- Molecular Diagnostics
- North America: The region held the largest revenue and will continue to account for the highest revenue throughout the forecast period. The growth in the region is attributed to the rising prevalence of infectious diseases, increasing efforts in research and development activities, and growing funding for the development of novel point-of-care products for various diseases. The prevalence of infectious diseases is high in North America. In the US, cases such as hepatitis, diphtheria, Lyme disease, and pertussis are high.
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POC Diagnostics Market Vendor Landscape
The point-of-care market has a highly competitive landscape. It is led by leading players such as Abbott and Danaher. Competition among players is complex, as these companies compete for market share for point-of-care diagnostics. There are several other players developing novel diagnostics for several infectious disease indications, which are expected to accelerate the market growth during the forecast period. Numerous manufacturers are investing in the development of point-of-care diagnostics.
Top POC Diagnostic Market Players
- Abbott Laboratories: The business of Abbott Laboratories is the discovery, development, manufacture, and sale of a broad and diversified line of health care products. Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company offers point-of-care diagnostics products such as BinaxNOW, Panbio, m-PIMA HIV-1/2, Viral Load Test, ID NOW, Afinion, and Cholestech LDX
- DANAHER CORP.: Danaher is comprised of more than 20 operating companies with leadership positions in the life sciences, diagnostics, environmental and applied sectors, organized under three segments namely, Environmental and Applied Solutions, Life Sciences; Diagnostics. The company offers point-of-care products through its subsidiary HemoCue AB and Cepheid. The companies offer point-of-care solutions for COVID-19, hematology, and diabetes.
- Hoffmann-La Roche AG: The company offers point-of-care products such as Elecsys NT-proBNP, Urisys 1100 analyser, Micral-Test strip, cobas c 111 analyzer, and cobas h 232 POC systems. In January 2022, the company introduced cobas infinity edge, a secure and encrypted cloud-based platform for the integration and management of point of care data, available for use in clinical settings globally.
Some more vendors covered in this report are:
- EKF Diagnostics Holdings plc
- QUIDEL Corp.
- OraSure Technologies Inc.
- SIEMENS HEALTHINEERS AG
- TRINITY BIOTECH PLC
- SYSMEX Corp.
- Becton, Dickinson and Co.
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