COVID-19 Impact on Point of Care Diagnostics Market | By F. Hoffmann-La Roche Ltd, Abbott, bioMerieux SA, Johnson & Johnson Services, Inc., Nova Biomedical, Siemens AG, Bio Rad Laboratories Inc., BD, Danaher Corporation, and PTS Diagnostics And Others
This report on Point of Care Diagnostics Market delivers an in-depth analysis that also comprises an elaborate assessment of this business. Also, segments of the Point of Care Diagnostics Market have been evidently elucidated in this study, in addition to a basic overview pertaining to the market's current status as well as size, with respect to the profit and volume parameters. The study is ubiquitous of the major insights related to the regional spectrum of this vertical as well as the companies that have effectively gained a commendable status in the Point of Care Diagnostics Market.
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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.
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.
Major Players Included in Point of Care Diagnostics report are as follows
o F. Hoffmann-La Roche Ltd.
o Danaher Corporation
o Bio Rad Laboratories Inc.
o bioM?rieux SA
o Johnson & Johnson Services, Inc.
o Nova Biomedical
o Siemens AG
o PTS Diagnostics
Increasing Incidences of Infectious Diseases
Point-of-care testing (POCT) plays critical roles in diagnosis, treatment, and prevention of infectious diseases. POC testing can be used to detect several major pathogens, including malarial parasites; human immunodeficiency virus (HIV); human papillomavirus (HPV); dengue, Ebola, and Zika viruses; and Mycobacterium tuberculosis (TB bacteria). HIV has infected over 40 million people worldwide; ~85% of this population resides in developing countries, which have a limited availability of clinical diagnostics and antiretroviral therapy (ART) monitoring platforms. To narrow down the diagnostic time, companies are developing POC test kits and reagents, for instance, Food and Drug Administration (FDA) has approved the ARCHITECT HIV Ag/Ab EIA, a fourth-generation assay, introduced by Abbott Laboratories. Increasing incidences of infectious diseases such as HIV is the major global public health issue. In 2018, World Health Organization (WHO) having claimed that more than 32 million HIV people are diagnosed, out of which 770 000 people died. At the end of 2018, 1.7 million people were reported to be newly infected globally, including 62% adults and 54% children. According to HIV and AIDS organization (AVERT), in 2018, 1.1 million US residents were infected with HIV, whereas APAC registered 5.2 million HIV-infected population. As per European Centre for Disease Prevention and Control, ~2 million people in Europe were infected with HIV in 2018. Such increase in the incidence of infectious diseases is expected to create a demand for point of care test kits across the world.
Product Launches and Product Developments
The number of point-of-care testing (POCT) has steadily increased over the last 40 years since it's been widespread introduction. Growth of point of care market is likely to proceed with the help of the introduction of new products into the market, aimed at delivering inexpensive care at the facilities located at the closest-possible distances from the patients' location. New technologies or products are being refined and improved to deliver easier to use devices with incremental improvements in analytical performance.
The growth of the POC market is mainly attributed to the introduction of new devices to perform molecular testing... Many new devices have been launched in recent years. For instance, in June 2019, Abbott launched first-ever rapid POC HbA1c test to aid in the diagnosis of diabetes; this test provides results in 3 minutes, enabling clinicians to develop informed, individualized care plans during patient consultation. Such advancements in new launched devices will propel the overall POC market growth during the forecast period.
Point of Care Diagnostics Market: Competitive Landscape-
Analysts have thoroughly evaluated the competitive landscape in the Point of Care Diagnostics Market. The report includes the study of key players in the Point of Care Diagnostics Market. It also outlines the strategic initiatives companies have taken in recent years to keep pace with increasing competition. It also includes an assessment of the financial perspectives of these companies, their research and development plans, and their future business strategies.
Point of Care Diagnostics Market: Drivers and Restraints-
The comprehensive market assessment of Point of Care Diagnostics contains a complete explanation of the controls available on the market. Analysts have studied investment in research and development, the impact of changing economies, and consumer behaviour to determine the factors that will drive the market in general. In addition, analysts have attempted to take into account changes in manufacturing and industrial operations that determine product sales in the Point of Care Diagnostics Market.
This chapter also explains the possible restrictions on the Point of Care Diagnostics Market. Assess the reasons that could hinder market growth. Analysts have assessed growing environmental concerns and fluctuating raw material costs, which are predicted to dampen the spirit of the Point of Care Diagnostics Market. However, analysts have also identified potential opportunities that players in the Point of Care Diagnostics Market can rely on. The chapter on controls, restrictions, threats and opportunities offers a holistic view of the Point of Care Diagnostics Market.
POINT OF CARE DIAGNOSTICS - MARKET SEGMENTATION
o Glucose Monitoring
o Infectious Disease Testing
o HIV Testing Products
o Influenza Testing Products
o Sexually Transmitted Disease (STD) Testing Products
o Hepatitis C Testing Products
o Healthcare-Associated Infection (HAI) Testing Products
o Tropical Disease Testing Products
o Respiratory Infection Testing Products
o Other Infectious Disease Testing Products
o Cardiometabolic Testing
o Pregnancy And Fertility Testing
o Coagulation Testing
o Tumor/Cancer Marker Testing
o Cholesterol Testing
o Urinalysis Testing
o Hematology Testing
o Other POC Products
BY PRESCRIPTION MODE
o Prescription-Based Testing
o OTC Testing
BY END USER
o Professional Diagnostic Centers
o Home Care
o Research Laboratories
o North America
o Asia Pacific (APAC)
o Middle East & Africa (MEA)
o South and Central America
Key Questions Answered
o How big will the market for Point of Care Diagnostics be in 2027?
o What is the current CAGR of the Point of Care Diagnostics Market?
o Which product is expected to have the highest market growth?
o Which application should be used to win a large part of the market for Point of Care Diagnostics ?
o Which region is likely to offer the most opportunities on the Point of Care Diagnostics Market?
o Will the market competition change in the forecast period?
o Who are the main players currently active in the global Point of Care Diagnostics Market?
o How will the market situation change within the coming years?
o What are the usual commercial tactics for players?
o What is the growth perspective of the global Point of Care Diagnostics Market?
Answering these types of questions can be very useful for gamers to clear up their doubts as they implement their strategies to grow in the global Point of Care Diagnostics Market. The report provides a transparent picture of the actual situation in the global Point of Care Diagnostics Market so that companies can work more effectively. It can be tailored to the needs of readers to better understand the global market for Point of Care Diagnostics.
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