November 24, 2020

Point of Care (PoC) Diagnostics Market Size and Growth Factors Research and Projection 2027

According to the recent marketing research of Reports and Data, the global Point of Care (PoC) Diagnostics market size was estimated to be USD 26.28 Billion in 2019 and is anticipated to surpass USD 55.35 Billion by year 2027, registering a CAGR of 9.6%.

The Centers for Disease Control and Prevention, in U.S. estimates 100 million adults are affected by diabetes or pre-diabetes at the present. Cardiovascular diseases (CVD) account for about 800,000 deaths within the country. On a mean, U.S. records the death of 1 person every 40 seconds from CVD. It also causes 3.9 million deaths in Europe and around 1.8 million deaths within the European Union.

Point-of-care (POC) diagnostics is a medical diagnostic assay that allows physicians and medical staff to accurately attain lab-quality diagnostic leads to real-time. In other words, the results are available within minutes instead of hours. With portable blood analysers, testing near patient streamlines the diagnostic process and aids to make sure patients receive the foremost effectual and efficient care when and where needed. Point-of-care (POC) diagnostic testing allows medical staff to form speedy treatment decisions when analysing a patient’s condition or monitoring a treatment reaction. By streamlining the testing process, physicians can specialise in providing effective, quality patient care.

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Point of Care (PoC) Diagnostics Market Dynamics

Near patient testing allows quite just bedside testing. It enables clinicians to enhance efficiency and productivity. These diagnostic tools are possibly costlier than traditional ones but are more accurate and even lower staff burden by driving the main target back to the patient. Major developments within the field of Point-of-Care (PoC) diagnostics include PixCell Medical’s acceptance of the FDA 510(k) approval for its POC the HemoScreen Haematology Analyser, in 2018. HemoScreen Haematology Analyser enables physicians to form accurate decisions with increased rapidity.

Predominance of infectious diseases, swelling occurrence of target diseases, and stronger preference for home healthcare in developing economies across the planet are increasing the adoption of PoC diagnostics products. Greater investment by public organizations is additionally acting as driving factor for the expansion of the market. As an example , in 2018, the Massachusetts Medical Device Development Center used a USD 7.9 million grant from the National Institute of Health (NIH) to determine a M2D2 which essentially helps inventors leading promising new PoC devices and technologies handling heart, lung, blood and sleep disorders.

Point of Care (PoC) Diagnostics Market: Regional Outlook

North America is predicted to account for the 41.1% of the global Point of Care (PoC) Diagnostics market due to CVD prevalence and chronic disorders due to unhealthy lifestyle. Rapid FDA approvals and streamlined government regulations related to development of healthcare will also supplement the growth. Europe Point of Care (PoC) Diagnostics market size follows that of North America with a share of 33.1% thanks to the increased adoption of these devices, rise in awareness about medical innovative, increased applications of point of care diagnostic devices, and rapidly aging population including increase in incidences of diabetes and liver diseases.

Impact of COVID-19 on Point of Care (PoC) Diagnostics Market:

COVID-19 has affected various business aspects and therefore the healthcare sector has been the most considerably impacted by the crisis. The WHO has declared COVID-19 to be a worldwide pandemic and therefore the healthcare industry has resorted to variety of emergency undertakings to assist the overall population in fighting the deadly disease. While hospitals and clinics are filled to capacity, trying to assist ailing patients, most patients are asked to remain away from healthcare institutions if not faced with dire emergency as hospitals are currently highly contagious and the coronavirus can negatively impact the health condition of weak individuals. The growth of PoC Diagnostics market is predicted to register a huge surge in demand as COVID-19 crisis creates a substantial opportunity for near patient tests.

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Point of Care (PoC) Diagnostics Market: Key Players

·         Abbott

·         F. Hoffmann-La Roche

·         Siemens Healthineers

Report Highlights:

·         Detailed overview of the market

·         Evolving Point of Care (PoC) Diagnostics market dynamics

·         In-depth Point of Care (PoC) Diagnostics market classification

·         Historical, present, and anticipated Point of Care (PoC) Diagnostics market size and share in terms of volume and value

·         Recent Point of Care (PoC) Diagnostics market trends and advances

·         Competitive landscape

·         Strategies adopted by key players and products portfolio

·         Segments, sub-segments, and geographic regions exhibiting growth prospects

·         A neutral and global perspective on Point of Care (PoC) Diagnostics market performance

Point of Care (PoC) Diagnostics Market: Segmentation

For the purpose of the study, this Reports and Data has segmented the Global Point of Care (PoC) Diagnostics Market on the basis of product type, platform type, prescription mode, end user and the regional outlook:

Product Type (Revenue, USD Million; 2017‚Äď2027)

·         Glucose Monitoring Products

o    Strips

o    Meters

o    Lancets & Lancing Devices

·         Cardiometabolic Testing Products

o    Cardiac Marker Testing Products

o    Blood Gas/Electrolytes Testing Products

o    HBA1C Testing Products

·         Infectious Disease Testing Products

o    Influenza Testing Products

o    HIV Testing Products

o    Hepatitis C Testing Products

o    Sexually Transmitted Disease (STD) Testing Products

o    Healthcare-Associated Infection (HAI) Testing Products

o    Respiratory Infection Testing Products

o    Tropical Disease Testing Products

o    Other Infectious Disease Testing Products

·         Coagulation Testing Products

·         PT/INR Testing Products

·         Activated Clotting Time (ACT/APTT) Testing Products

·         Pregnancy and Fertility Testing Products

·         Pregnancy Testing Products

·         Fertility Testing Products

·         Tumour/Cancer Marker Testing Products

·         Urinalysis Testing Products

·         Cholesterol Testing Products

·         Haematology Testing Products

·         Drugs-of-Abuse Testing Products

·         Fecal Occult Testing Products

·         Other POC Products

Platform Type (Revenue, USD Million; 2017‚Äď2027)

·         Agglutination assays

·         Biosensors

·         Dipsticks

·         Lateral Flow Assays

·         Microfluidics

·         Molecular Diagnostics

·         Solid phase

Prescription Mode (Revenue, USD Million; 2017‚Äď2027)

·         Prescription-based Testing

·         OTC Testing

End User (Revenue, USD Million; 2017‚Äď2027)

·         Professional Diagnostic Centres

·         Clinical Laboratories (Outpatient Healthcare & Ambulatory Care Settings)

·         Hospitals/Critical Care Centres

·         Home Care

·         Research Laboratories

·         Other End Users

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Regional Outlook (Revenue, USD Million; 2017‚Äď2027)

·         North America

o    U.S.

o    Canada

·         Europe

o    Germany

o    UK

o    Spain

o    France

o    Italy

o    Rest of Europe

·         Asia Pacific

o    Japan

o    China

o    India

o    Australia

o    Rest of Asia-Pacific

·         Latin America

o    Brazil

o    Mexico

·         Middle East and Africa (MEA)

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