Point Of Care Diagnostic Market : Evolving Opportunities & Advancement with Top Key Players : Include Covid-19 impact Analysis

Overview of Point of Care Diagnostic Market

A comprehensive evaluation of the Point Of Care Diagnostic Market has been presented in the report for the forecasted period 2019 to 2025. In order to get a deep insight into the market, a wide range of segments have been covered in the report along with the thorough analysis of the key trends and the factors that impact the market. The main highlight of the report includes the key factors that impact the Point Of Care Diagnostic Market market, the market dynamics, major drivers, restraining factors, and the opportunities and threats that arise in the market. The intrinsic factors that have been identified are restraints and drivers. The identified threats and opportunities are the extrinsic factors that exist in the market setting. The thorough study provides an insight into the market development in terms of the revenue generation capacity during the forecasted period.

Point-of-care Diagnostic (POCD) is defined as medical diagnostic technology that can be used at the point of care i.e. wherever the patient is present. The diagnostic technique is very different from the traditional testing methods. In traditional diagnostic tests, the diagnostic tests were performed at their respective laboratories and patients had to wait for days for the results, point-of-care diagnostic involves bringing the diagnostic tools immediately and conveniently to the patient and providing rapid diagnosis in real time.

The driving notion of point-of-care diagnostic is its quick diagnostic techniques which allow faster treatment, medication and clinical management based on the POCD results.. Point-Of-Care Diagnostics includes development in microfluidic, biosensors, assay formats, bio-analytical platforms, lab-on-a-chip technologies and complementary technologies.

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Point-of-care diagnostic gathers the specimens and procure results in a short span of time, essentially near the location of the patient such that the cost of treatment is cheaper, quicker and more precise. From management of patient’s data to diagnosis and monitoring of a disease, POCD facilitates all of the tasks for a patient requiring rapid detection.

POCD also plays an important role in patient management, reducing the time required to treat an ailment and improves the ultimate outcome of patient’s health. Since, there are a vast number of point-of-care assays i.e. assays performed on patients, various biomarkers have been developed by deploying portable and simple in usage point-of-care clinical and biochemical analyzers. This is considered to be a revolutionary for many diseases, particularly the ones that require immediate assistance like ischemic stroke. Even for various other diseases, treatment and medical intervention at an early stage would be responsible for saving a lot of lives.

Some examples of equipment being used for improved Point-Of-Care Diagnostics includes label-free biosensors such as white light reflectance spectroscopy (WLRS) and Surface Plasmon Resonance (SPR). Complementary technologies such as system integration, microfluidics, lab-on-a-chip technologies, signal readout and device automation are propelling the Point-Of-Care Diagnostics towards continuous improvements over the forecast period.

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Point-Of-Care Diagnostics disposed towards smart devices equipped with mobile healthcare (mH) is predicted to be the major trend in the market, since, this could be particularly revolutionary for POCD and personalized healthcare monitoring and management. Many promising mobile healthcare technologies have been developed that are being used for a readout of colorimetric, lateral flow, electrochemical, fluorescent, chemiluminescent , label-free assays, detection of cells, biomolecules, nanoparticles, and microorganisms and other diagnostic applications using the cellphone-based POC technologies.

It has been estimated that the number of cellphone users have passed 7.4 billion in emerging countries which is 70% of the total cellphone users and the population in these countries is marred by various communicable/non-communicable diseases. Hence, Point-Of-Care Diagnostics could be a revolutionary aid in treatment procedures in the region. Therefore, emerging countries is projected to be a highly profitable market for Point-of-Care Diagnostics.

Some of the major stakeholders in the Point-Of-Care Diagnostics market include various medical device manufacturing companies, companies distributing POCD equipment, clinical laboratories, hospitals, clinics and special areas such as sports and military fitness bodies, government /private research institutes and clinical research organizations (CROs). Establishment of an international cloud for ease in management of Big Data may hinder the market over the forecast period, since, the technology requires personal data of patients, therefore, effective measure would be required for security of privacy of data storage.

The POCD market is set to witness a rise owing to a global demand of a technology facilitating self-monitor and management of the personal health. Roche (Switzerland), Abbott (US) and Siemens (Germany) are the prominent players in Point-Of-Care Diagnostics acquiring the major share in the industry. Various other companies like Instrumentation Laboratory (US), Nova (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Quidel (US), EKF Diagnostics (UK), Chembio Diagnostics (US), Trinity Biotech (US), and AccuBioTech (China) are set to enter the market with their respective products for Point-of-Care Diagnostics.

Point Of Care Diagnostic Market : Research Methodology

Point Of Care Diagnostic Market research methodologies comprise primary research, secondary and expert panel reviews. Secondary research consists of the following sources: company annual report, research papers, and press releases, as documented in the industry. For further understanding, the following have been considered: Industry magazines, trade journals, government websites, and associations since they also contain vital information that can be useful during the study period. If all these sources are efficiently used to gather information about the industry, then the Point Of Care Diagnostic Market market achieves its goals in the study, which is most likely to expand its territory in the market.

Primary research has been the best way during the study, as it involves things like; telephone conversations that can be either as interviews or creation of appointments between the Point Of Care Diagnostic Market researchers and market players. Questionnaires are also used, and this can also be sent as emails or distributing them to the people for question and answer moments. Lastly, there is a face-to-face interaction between the researchers and the market players. This has been the most effective way the two parties involved engage in one on one question and answer sessions. At primary research, the engagement always leaves both Point Of Care Diagnostic Market research and the market players convinced of the way forward for the betterment of the industry. Primary research enhances discussion on essential factors such as market trends, size, competitions involved has to be done on an ongoing basis with industry experts, to understand the existing market.

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