According to the new market research report published by MarketsandMarkets, “Point of Care Diagnostics Market by Product (Glucose, HIV, Hepatitis C, Pregnancy), Platform (Microfluidics, Dipstick, Immunoassay), Purchase(OTC, Prescription), Sample(Blood, Urine), User (Pharmacy, Hospital, Homecare) – Global Forecast to 2027“, the global point of care diagnostics market in terms of revenue was estimated to be worth $45.4 billion in 2022 and is poised to reach $75.5 billion by 2027, growing at a CAGR of 10.7% from 2022 to 2027.
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Key Players:
The major players operating in the point of care diagnostics market are Abbott (US), Becton, Dickinson and Company (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), and F. Hoffman-La Roche Ltd. (Switzerland), Quidel Corporation (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland), Instrumentation Laboratory (a Werfen Company) (US), Nova Biomedical (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Thermo Fisher Scientific (US), and bioMérieux SA (France).
Top Point of Care Diagnostics Market Player:
ABBOTT (US): Abbott is the leading player in the point of care diagnostics market. The company has a strong presence in the US and seeks to enhance its geographical presence by strengthening its business operations in emerging markets. The company has a strong product portfolio, and its FDA- and CE-approved products have helped it gain a sizable market share. Abbott focuses on inorganic growth strategies, such as collaborations and acquisitions, to enhance its product portfolio and expand its geographical presence. The company’s extensive research & development activities for product development and its ongoing clinical trials for newly developed products will further enhance its share in the point-of-care and rapid diagnostics market.
F. HOFFMANN-LA ROCHE LTD.: Roche Diagnostics is one of the leading players in the global POC diagnostics market. Roche Diagnostics focuses on R&D to develop new tests and cater to the increasing demand for diagnostic testing. Also, the company has adopted several strategies, such as product launches and approvals and acquisitions. Over the past three years, Roche Diagnostics has launched several new products. In January 2022, Roche launched its Cobas Pulse System in select countries accepting the CE Mark. This is Roche Diagnostics’ newest generation of connected point-of-care solutions for professional blood glucose management.
SIEMENS HEALTHINEERS AG: Due to its robust product portfolio in the diagnostic segment, Siemens Healthineers AG is among the leading players in the point-of-care diagnostics market. It has a broad range of testing systems, including coagulation, molecular, urinalysis, and blood gas testing systems & services. The company is engaged in developing and manufacturing new products to expand its product offerings in the point-of-care diagnostics market. Siemens Healthineers focuses on acquisitions to expand its product portfolio and invest in new business ideas to tap into better market opportunities. Siemens expanded its services business by adding the digital services portfolio and the distribution of its R&D workforce across international sites has enabled the firm to strengthen its foothold in the market.
Recent Developments:
- In May 2022, QuantuMDx announced the launch of its new respiratory panel test; Q-POC™ SARS-CoV-2, Flu A/B & RSV Assay.
- In March 2022, Boditech Med entered in strategic partnership with Novo Integrated Sciences, Inc. with an aim to expand its biomarker based rapid testing product line across North America
- In January 2022, Roche launched its Cobas Pulse System in select countries accepting the CE Mark. This is Roche Diagnostics’ newest generation of connected point-of-care solutions for professional blood glucose management.
Point of Care Diagnostics Market Report Objectives:
- To define, describe, and forecast the point-of-care and rapid diagnostics market by Product, Platform, Mode of Purchase, Sample, End User, and Region
- To provide detailed information about major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyse micromarkets1 with respect to individual growth trends, prospects, and their contributions to the overall point-of-care and rapid diagnostics market
- To analyse market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the market value of various segments and sub-segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players active in the point-of-care and rapid diagnostics market and comprehensively analyse their global revenue shares and core competencies2
- To track and analyse competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the point-of-care and rapid diagnostics market
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