Report : Point of Care Diagnostics Market to 2027 - Global Analysis and Forecasts By Product (Glucose Monitoring Products, Infectious Disease Testing Products, Cardiometabolic Testing Products, Pregnancy and Fertility Testing Products, Coagulation Testing Products, Tumor/Cancer Marker Testing Products, Cholesterol Testing Products, Urinalysis Testing Products, Hematology Testing Products, Other POC Products), by Prescription Mode (Prescription-Based Testing, OTC Testing), End User (Professional Diagnostic Centers, Home Care, Research Laboratories, Others) and Geography
Infectious disease testing products segment is expected to grow at a fast pace over the forecast period
According to The Insight Partners market research study titled ‘Point of Care Diagnostics Market to 2027 – Global Analysis and Forecasts by Product, Prescription Mode, and End User.’ The global point of care diagnostics market is expected to reach US$ 70.89 Bn in 2027 from US$ 26.60 Bn in 2018. The market is estimated to grow with a CAGR of 11.8% from 2019-2027. The report highlights the trends prevalent in the global point of care diagnostics market and the factors driving the market along with those that act as deterrents to its growth.
Global point of care diagnostics market, based on the product, was segmented as, glucose monitoring products, infectious disease testing products, cardiometabolic testing products, pregnancy and fertility testing products, coagulation testing products, tumor/cancer marker testing products, cholesterol testing products, urinalysis testing products, hematology testing products, and other POC products. In 2018, the glucose monitoring products segment held a largest market share of the point of care diagnostics market, by product. This segment is also expected to dominate the market in 2027 owing to the increasing diabetic patients. However, infectious disease testing product market is expected to grow at significant rate, in the forecast period 2019 to 2027. Moreover, Infectious disease rapid test kits are widely available for a wide variety of prophlogistic pathogen targets, including bacterial, viral, fungal, protozoan, and other disease agents.
The market for point of care diagnostics is expected to grow, owing to factors such as increasing incidences of infectious diseases, product launches and product development and increasing number of CLIA-waived POC tests over the years. In In addition, the emerging markets in developing countries are likely to have a positive impact on the growth of the market in the coming years.
The major players operating in the point of care diagnostics market include F. Hoffmann-La Roche Ltd, Abbott, bioMérieux SA, Johnson & Johnson Services, Inc., Nova Biomedical, Siemens AG, Bio Rad Laboratories Inc., BD, Danaher Corporation, and PTS Diagnostics. The market has witnessed various organic as well as inorganic developments during recent years in the point of care diagnostics market. For instance, during April 2019, Bio-Rad Laboratories, Inc. received U.S. Food and Drug Administration (FDA) approval for its BioPlex 2200 Lyme Total Assay. This is an innovative multiplex test method for the diagnosis of Lyme disease. This development enhanced the product portfolio of the company and increased its customer bases on regional basis.
Global Point of Care Diagnostics Market, By Regions, 2018 (%)
The report segments the global point of care diagnostics market as follows:
Global Point of Care Diagnostics Market – By Product
Global Point of Care Diagnostics Market – By Prescription Mode
Global Point of Care Diagnostics Market – By Geography