Market Synopsis
Competitive Market Growth, Size, Share and Forecast to 2027 for Global Point of Care (POC) Diagnostic Devices Market 2019 2027, By Product Type (Albumin Analyzers (Albumin Testing), Blood Lactate Analyzer / Blood Lactate Testing Equipment, Cardiac Marker Analyzers, Clinical Chemistry Analyzers, Coagulation Analyzer / Microcoagulation System, Creatinine Analyzer, CRP Analyzer (C-Reactive Protein Analyzers), Laboratory Blood Glucose Analyzers, Urinalysis Products (Analyzers, Strips, Controls, Supplies), Drugs-Of-Abuse Testing Products, Fecal Occult Testing Products, Hematology Testing Products, HbA1c And Diabetes Products, Infectious Disease Testing Products (HIV Infections, Malaria, Syphilis, E.Coli, Influenza, Others), Others (CO-Oximeter, Etc.)); By Formats (Dipstick And Lateral Flow Configurations, Microfluidics, Magnetic Immunoassay, Molecular Diagnostics); By Device Type (Handheld, Benchtop Models); By Type (Prescription Based, Over The Counter (OTC)); By End Users (Hospitals (Critical Care Units, Neonatal Intensive Care Unit (NICU), Others), Private Clinics, Diagnostic Centres, Home Care Settings, Doctor’s Offices, Ambulatory Care Centers, Emergency Departments, Laboratories, Others);
Market Snapshot
The Global Point of Care (POC) Diagnostic Devices Market 2019 2027 was valued USD 43.2 billion in 2021 and will grow at a CAGR of 10.80% for the forecast period of 2022-2027, as per the market research report by Absolute Markets Insights titled “ Global Point of Care (POC) Diagnostic Devices Market 2019 2027
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Market Overview
The growing prevalence of chronic illnesses amongst the global population is driving the demand for rapid, near-patient diagnostics devices which will enhance the care delivery to patients.
Chronic illnesses are witnessing an upsurge in the number of people affected due to the sedentary lifestyle and degrading quality of human ecosystems. World Health Organization states that chronic non-communicable diseases are the reason for 70% of deaths worldwide. Diabetes is one of the most common chronic non-communicable disease which caused death of 1.6 million people across the globe being the seventh leading cause of deaths in 2016. Patients with Type 2 diabetes require frequent glucose monitoring to control the insulin administration levels, which has created high demand for rapid point of care (POC) diagnostic devices. The POC diagnostic devices can be termed as solutions that provide rapid actionable information for patient care at the time and site of an encounter with the health care system. These devices encompasses any tools which perform tests at or near a patient and at the site where care or treatment is provided. Results of POC diagnostic devices are typically available relatively quickly so that they can be acted upon without delay. POC diagnostic devices have proved their mettle in effectively managing diabetes, thus witnessing high demand from the growing diabetic population across the world. For instance, 1mg, an online pharmacy store, witnessed a spike of 90% in the demand of glucometers (POC diagnostic device for monitoring blood sugar levels) in May 2020. Attempts are also being made to incorporate advanced digital technologies in the traditional POC diagnostic devices to increase their speed and accuracy. Artificial Intelligence algorithms are being incorporated in these devices to make them more easy to use and highly effective. The American Academy of Ophthalmology recommends that patients with Type 1 diabetes should be undergone diabetic retinopathy screening within 5 years of diabetes onset and then annually after 10 years duration. Companies have developed deep learning algorithms which performs automated analysis of fundus photos for POC diabetic retinopathy diagnosis to prevent blindness. For instance, Eyenuk developed deep learning based system called EyeArt for diabetic retinopathy screening at POC locations and received clearance from U.S Food and Drug Administration agency in August 2020. In similar instance, Singapore Eye Research Institute (SERI) has validated the SERI-NUS DL system and Google has validated Google Deep Mind convolutional neural network for diabetic retinopathy detection. Thus, the high prevalence of chronic illnesses coupled with incorporation of advanced technologies is driving the growth of global point of care (POC) diagnostic devices market.
The term Global Point of Care (POC) Diagnostic Devices Market 2019 2027 is influenced by a number of variables, including forward/backward integration, economies of scale, the proportion of different distribution channels, elements influencing consumer behavior, such as brand loyalty, price, and accessibility of the product, capital investments, the regulatory environment, production rights and patents, marketing strategies, and other client preferences. The stakeholders in the industry will probably find this knowledge valuable, and it may even motivate them to take action.
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Global Point of Care (POC) Diagnostic Devices Market 2019 2027 Competitive Landscape:
The prominent companies in the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 are:
Abbott Point of Care Inc., Becton Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher, DIADAMA MEDICAL SL, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Nova Biomedical, Siemens Healthcare Limited and Sysmex Corporation amongst others.
Impact of COVID-19:
This article makes observations about COVID-19 consumer behavior, demand changes, shopping trends, supply chain restructuring, market forces dynamics, and significant government involvement. The new study offers further information, analysis, projections, and estimates regarding the market effects of COVID-19.
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The fully updated, 405+ page books provide a comprehensive overview of the COVID-19 virus and pandemic. You can discover more about subjects like regional impact analysis, worldwide prediction, competitive landscape analysis, and size & share of regional markets by using industry data and expert interviews. Information on the market’s size, key players, profitability analysis, SWOT analysis, historical and projected statistics, growth Porter’s Five Forces analysis, revenue projections, industry trends, and financial ratios are all included in the free sample. Along with assessments from Absolute Market Insights for various countries and regions, the study also provides thorough analyses of the major variables influencing the market’s growth. The Sample Report gives readers a competitive edge by providing more information on the main market participants, including their sales volume, corporate strategy, and revenue analysis. Key Benefits of Global Global Point of Care (POC) Diagnostic Devices Market 2019 2027 Report:
Much work has been devoted to studying both the present and the future as part of the study of global Global Point of Care (POC) Diagnostic Devices Market 2019 2027 trends. The Global Global Point of Care (POC) Diagnostic Devices Market 2019 2027 Growth Research Report offers comprehensive data on the Market Introduction, Market Summary, Global Market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and National levels.
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Global Point of Care (POC) Diagnostic Devices Market 2019 2027 Regional Insights
North America region registered the highest share in global point of care (POC) diagnostic devices market in 2018. The growing geriatric population in the region which increases the prevalence of chronic ailments is a major factor contributing towards high share of North America. However, the low and middle-income countries from Asia Pacific region are witnessing rise in demand for medical services driven by the growing number of sick people due to high tobacco use, physical inactivity, the harmful use of alcohol and unhealthy diets. Also, governments of countries such as Malaysia, China, India, Japan and others are promoting use of POC diagnostic devices by releasing guidelines for proper implementation. These factors are anticipated to propel the share of Asia Pacific region in global point of care (POC) diagnostic devices market over forecast period.
In terms of revenue, global point of care (POC) diagnostic devices market is anticipated to grow at a CAGR of 9.1% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The report provides a comprehensive examination of a number of factors, including the distribution of the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 in significant geographic areas. North America, Europe, Asia-Pacific, and Latin America are the key geographical emphasis areas of the study.
Why the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 Report is Beneficial?
The Global Point of Care (POC) Diagnostic Devices Market 2019 2027 study was constructed using a comprehensive and modern research approach. The study contains a large amount of data on the most current technological and product advancements in the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 and offers a complete analysis of the market competition for the Global Point of Care (POC) Diagnostic Devices Market 2019 2027. The numerous evaluations of how these upgrades may affect the ongoing growth of Global Point of Care (POC) Diagnostic Devices Market 2019 2027 In the research report for the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 study, extensive historical data and analysis are presented.
The graphical data representations used in the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 report, such as bar graphs, statistics, pie charts, etc., make the report’s insights obvious and simple to comprehend. Global Point of Care (POC) Diagnostic Devices Market 2019 2027 Segmentation:
Based on the makeup of the product and the intended use for which it is to be used, various divisions have been made within the Global Point of Care (POC) Diagnostic Devices Market 2019 2027 market. The growth rate and market share of each market segment are assessed. The experts have also investigated prospective areas where the producers could make money in the ensuing years. Thanks to the accurate volume and value estimates provided by the geographical analysis, market participants can better understand the entire industry.
Global Point of Care (POC) Diagnostic Devices Market:
By Product Type
Albumin Analyzers (Albumin Testing) Blood Lactate Analyzer / Blood Lactate Testing Equipment Cardiac Marker Analyzers Clinical Chemistry Analyzers Coagulation Analyzer / Microcoagulation System Creatinine Analyzer CRP Analyzer (C-Reactive Protein Analyzers) Laboratory Blood Glucose Analyzers Urinalysis Products Analyzers Strips Controls Supplies Drugs-of-abuse Testing Products Fecal Occult Testing Products Hematology Testing Products HbA1c and Diabetes Products Infectious Disease Testing Products HIV Infections Malaria Syphilis E.Coli Influenza Others Others (CO-Oximeter, etc.) By Formats
Dipstick and Lateral Flow Configurations Microfluidics Magnetic immunoassay Molecular Diagnostics By Device Type
Handheld Benchtop models By Type
Prescription based Over the counter (OTC) By End Users:
Hospitals Critical Care Units Neonatal Intensive Care Unit (NICU) Others Private clinics Diagnostic centres Home Care Settings Doctor’s Offices Ambulatory Care Centers Emergency Departments Laboratories Others Global Global Point of Care (POC) Diagnostic Devices Market 2019 2027 by Region Global Point of Care (POC) Diagnostic Devices Market 2019 2027
North America US Canada Mexico Rest of North America Europe Germany France Italy Spain UK Nordic Countries Denmark Finland Iceland Sweden Norway Benelux Union Belgium The Netherlands Luxembourg Rest of Europe Asia-Pacific Japan China India Australia South Korea Southeast Asia Indonesia Thailand Malaysia Singapore Rest of Southeast Asia Rest of Asia-Pacific The Middle East & Africa Saudi Arabia UAE Egypt South Africa Rest of the Middle East & Africa Latin America Brazil Argentina Rest of Latin America Absolute Markets Insights
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