DUBLIN, September 27, 2021--(BUSINESS WIRE)--The "Point-of-Care/Rapid Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Point-of-Care/Rapid Diagnostics estimated at US$27.9 Billion in the year 2020, is projected to reach a revised size of US$49.6 Billion by 2027, growing at a CAGR of 8.6% over the analysis period 2020-2027.
Glucose Monitoring Products, one of the segments analyzed in the report, is projected to record a 9.3% CAGR and reach US$13.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cardiometabolic Testing Products segment is readjusted to a revised 9.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.6 Billion, While China is Forecast to Grow at 11.5% CAGR
The Point-of-Care/Rapid Diagnostics market in the U.S. is estimated at US$7.6 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$10.3 Billion by the year 2027 trailing a CAGR of 11.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 7.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR.
Infectious Disease Testing Products Segment to Record 9.7% CAGR
In the global Infectious Disease Testing Products segment, USA, Canada, Japan, China and Europe will drive the 9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$4.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7 Billion by the year 2027, while Latin America will expand at a 11.1% CAGR through the analysis period.
Select Competitors (Total 42 Featured):
AccuBioTech Co., Ltd.
Becton, Dickinson and Company
Chembio Diagnostic Systems, Inc.
EKF Diagnostics Holdings PLC
Johnson & Johnson
Nova Biomedical Corporation
Roche Diagnostics (Schweiz) AG
Sekisui Diagnostics LLC
Trinity Biotech PLC
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Point-Of-Care/Rapid Diagnostics: Overview & Outlook
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Emphasis on Decentralized Testing & Laboratory Strengthening Programs Augurs Well
Emergency Departments Rely on Rapid POC Diagnostics
Rapid POC Diagnostics Streamline Urgent Cardiac Care Settings
Rapid POC Diagnostics Gain Traction in Diagnosis of STD
Rapid POC Diagnostics for Tuberculosis Diagnosis
Quality Assurances Accelerate Adoption
Issues & Challenges
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/hp4mpu
View source version on businesswire.com: https://www.businesswire.com/news/home/20210927005411/en/
Laura Wood, Senior Press Manager
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