Global Point of Care/ Rapid Diagnostics Market is Anticipated to grow at a Significant Pace i.e., USD 56.5 Billion during the Forecast Period 2021-2027

Published Date: Dec, 2021

The global point of care/rapid diagnostic market is expected to witness an 11.5% CAGR during the forecast period. Factors attributing to the growth of the point of care/ rapid diagnostics market include the rising prominence of chronic and infectious diseases like diabetes, cancer, etc., owing to the rising elderly population sedentary lifestyles, unhealthy food habits, and environmental factors, thereby leading to the growth of point of care/ rapid diagnostics market. The point of care diagnostics is gaining significant traction owing to wide acceptance by patients globally as samples are collected from patients’ location to perform tests and results comes in very little time, owing to the use of micro fluids, chips, and nano diagnostics. Nevertheless, the favorable regulatory approvals for new immunoassay techniques, technological development, and increased adoption of home-based POC devices will augment the growth of the point of care/ rapid diagnostics market.

Abbott has launched a rapid point-of-care Afinion HBA1C Dx Assay test to help in the diagnosis of diabetes in 3 minutes and aids clinicians to develop informed and individualized care plans during patient consultation

The COVID-19 pandemic has increased the market for point of care diagnostics as companies are focused to develop devices so as to offer a rapid and reliable method to detect viruses i.e., RT-PCR.

Browse 66 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on " Point of Care/ Rapid Diagnostic Market by Product (Coagulation Testing, Glucose Monitoring, Tumor/Cancer Marker Testing, Cardiometabolic Testing, Pregnancy and Fertility Testing, Infectious Disease Testing, Urinalysis Testing, Drugs-of-Abuse Testing, Cholesterol Testing, Fecal Occult Testing, Hematology Testing and Others), by Platform (Lateral Flow Assays, Molecular Diagnostics, Dipsticks, Immunoassays and Microfluidics), by Prescription Mode (OTC Testing and Prescription-Based Testing), and by End User (Research Laboratories, Professional Diagnostic Centers, Home Care and Others), and Region - Global Forecast to 2027"

By platform, lateral flow assays (immunochromatography tests) is projected to witness highest CAGR during the forecast period.

Based upon platform, the lateral flow assays (immunochromatography tests) are anticipated to witness high CAGR during 2021-2027 owing to the increased adoption of lateral flow assays in POC diagnosis over conventional techniques as it involves less time and provides high performance.

Global Point of Care/ Rapid Diagnostic Market Segmentation Analysis

Segment

Categorization

Leading Category

Product

Coagulation Testing, Glucose Monitoring, Tumor/Cancer Marker Testing, Cardiometabolic Testing, Pregnancy and Fertility Testing, Infectious Disease Testing, Urinalysis Testing, Drugs-of-Abuse Testing, Cholesterol Testing, Fecal Occult Testing, Hematology Testing and Others

Infectious Disease Testing (Fastest)

Platform

Lateral Flow Assays, Molecular Diagnostics, Dipsticks, Immunoassays and Microfluidics

Molecular Diagnostics (Fastest)

Lateral Flow Assays (High CAGR)

Prescription Mode

OTC Testing and Prescription-Based Testing

Prescription-Based Testing (Largest)

End User

Research Laboratories, Professional Diagnostic Centers, Home Care and Others

Home Care (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“Asia-Pacific is anticipated to be the fastest-growing region in the Point of Care/ Rapid Diagnostic during 2021-2027.”

Asia-Pacific is expected to be the fastest-growing region in the Point of Care/ Rapid Diagnostic market owing to the faster growth of the economies, growing population suffering from infectious diseases, fewer regulatory hurdles, and increased accessibility to healthcare services and POC products. 

Some of the major players in the Point of Care/ Rapid Diagnostic market include Abbott Laboratories, Danaher Corporation, Accubiotech, Johnson & Johnson, Becton, Dickinson, and Company, EKF Diagnostics, Nova Biomedical, Quidel, Roche Diagnostics, Chembio Diagnostics, PTS Diagnostics and Instrumentation Laboratory.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Product, Platform, Prescription Mode, End User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Abbott Laboratories, Danaher Corporation, Accubiotech, Johnson & Johnson, Becton, Dickinson, and Company, EKF Diagnostics, Nova Biomedical, Quidel, Roche Diagnostics, Chembio Diagnostics, PTS Diagnostics and Instrumentation Laboratory

Global Point of Care/ Rapid Diagnostic Market Coverage

Product Insight and Forecast 2015-2027

  • Coagulation Testing
  • Glucose Monitoring
  • Tumor/Cancer Marker Testing
  • Cardiometabolic Testing
  • Pregnancy and Fertility Testing
  • Infectious Disease Testing
  • Urinalysis Testing
  • Drugs-of-Abuse Testing
  • Cholesterol Testing
  • Fecal Occult Testing
  • Hematology Testing
  • Others

Platform Insight and Forecast 2015-2027

  • Lateral Flow Assays
  • Molecular Diagnostics
  • Dipsticks
  • Immunoassays
  • Microfluidics

Prescription Mode Insight and Forecast 2015-2027

  • OTC Testing
  • Prescription-Based Testing

End User Insight and Forecast 2015-2027

  • Research Laboratories
  • Professional Diagnostic Centers
  • Home Care
  • Others

Geographical Segmentation

Point of Care/ Rapid Diagnostic Market by Region

North America

  • By Product
  • By Platform
  • By Prescription Mode
  • By End User
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product
  • By Platform
  • By Prescription Mode
  • By End User
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product
  • By Platform
  • By Prescription Mode
  • By End User
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product
  • By Platform
  • By Prescription Mode
  • By End User
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries