Bharat Book Bureau Provides the Trending Market Research Report on “Point-of-Care Diagnostics Devices And Equipment Global Market Report 2020-30” under Life Sciences Category. The report offers a collection of superior market research, market analysis competitive intelligence and Market reports.
Global Point-of-Care Diagnostics Devices And Equipment Market Report 2020-30: Covid 19 Implications and Growth from covers this critical market and the impact on it from the Covid 19 virus.
It provides strategists, marketers and senior management with the critical information they need to assess the increasing demand for point-of-care diagnostics devices and equipment due to COVID 19.
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Where is the largest and fastest growing market for the point-of-care diagnostics devices and equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Point-of-Care Diagnostics Devices And Equipment Market Global Report from answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
• The Market Characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Markets Covered: 1) By Type: Infectious disease testing kits; Cardio metabolic monitoring kits; Cholesterol testing kits; Pregnancy and fertility tests kits; Tumor/cancer markers; Urinalysis testing kits; Hematology testing kits; Drugs of abuse testing kits; Fecal occult testing kits; Others
2) By End User: Professional diagnostic centers; Hospitals/critical care centers; Outpatient healthcare Setting; Ambulatory care settings; Research laboratories; Home
Companies Mentioned: Abbott; F. Hoffmann-La Roche; Siemens Healthineers; Danaher; Beckman Coulter
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the point-of-care diagnostics devices and equipment market are Abbott, F. Hoffmann-La Roche, Siemens Healthineers, Danaher and Beckman Coulter.
The global point-of-care diagnostics devices and equipment market is expected to grow from $17.7 billion in 2019 to $21.5 billion in 2020 at a compound annual growth rate (CAGR) of 21.4%. The growth of this market is mainly due to the increased diagnostic testing in laboratories, hospitals, and other testing sites across various country to detect the pandemic COVID-19 virus. The need for rapid diagnostic testing such as molecular and RT PCR based testing to identify people infected by coronavirus is driving the in-vitro diagnostics market. The market is then expected to grow at a CAGR of 5.3% from 2021 and reach $25.2 billion in 2023.
The point-of-care diagnostics devices and equipment market consists of sales of point-of-care (POC) diagnostics devices and equipment and related services. Point-of-care diagnostics devices and equipment are designed to aid physicians in performing medical diagnostic testing at or near the point of care, for immediate knowledge on diseases or conditions. Point-of-care diagnostics are segmented into cardio metabolic monitoring kits, infectious diseases testing kits, cardiac and cancer markers excluding blood glucose monitoring kits.
The point-of-care diagnostic devices and equipment market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North America is the largest market for point-of-care diagnostic devices and equipment and is expected to continue to be the largest market during the forecast period.
Point of care devices are regulated by the U.S. Food and Drug Administration (FDA) and all the diagnostic laboratory tests regulated by the clinical laboratory improvement amendments of 1988 (CLIA) that is administered by the centers for Medicare & Medicaid services (CMS). As these devices measure the biomarker levels in the body they are classified as class II (requiring 510[k] approval), or III devices (requiring the more tedious premarket approval). On the contrary, to the stringent approvals by FDA, China has a moderately lenient approval mechanism. Therefore, the top companies are using partnership approach with local vendors and distributors to expand their market share.
The POC diagnostics devices and equipment market is expected to slow down due to stringent regulatory policies, which increases the gestational period before the product enters market. POC devices and equipment manufacturers are required to obtain multiple FDA clearances before launching their product into the market. The entire process of approval consumes a lot of time, thereby restraining the market growth.
Over-the-Counter (OTC) testing is being termed as an important trend driving the growth of point of care diagnostics market. FDA has approved OTC test kits for cholesterol, fecal occult blood, pregnancy and HIV/HCV. This method would improve the access to testing and early detection of the disease. These testing kits may generate more revenue than prescription tests over the forecast period due to ease of using the kits, increased home care and self-testing, and rise in availability and adoption rate.
An increase in the incidence of target diseases is driving the POC devices and equipment market globally. The rising incidence of chronic diseases, like diabetes, rheumatism, or cancer is increasing steadily worldwide due to poor lifestyle choices and increasing obesity, thus driving the growth of POC devices and equipment market. For example, according to American Heart Association cardiovascular disease is listed as the underlying cause of death for 0.84 million deaths in the US in 2016, approximately 1 of every 3 deaths.
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