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Point of Care Diagnostics Market and the Impact of COVID-19: Prioritizing of OTC and At-Home Testing Solutions

·4-min read

Dublin, Dec. 30, 2021 (GLOBE NEWSWIRE) -- The "Point of Care Diagnostics: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.

Globally, the diagnostic testing business is a multi-billion-dollar industry with intense competition and areas of high growth. The United States is the world's largest single market for diagnostic testing. This study focuses on POC testing, which is one of the most active segments within the diagnostic industry.

POC testing is growing in both home use and POC testing near-patient applications. Both segments are included in this market study.

The global market for point of care diagnostics was valued at $24.8 billion in 2021. The market is expected to grow at a compound annual growth rate (CAGR) of 11.9% to reach $43.5 billion by 2026. The major factor contributing to the growth of the POC diagnostics market is the rising prevalence of infectious diseases. POC tests help to enhance the management of infectious diseases, particularly in developing countries where it is difficult to access timely diagnosis due to a lack of healthcare infrastructure.

Funding and grants from governments for the advancement and development of innovative products are contributing towards the adoption of innovative technologies for infectious diseases diagnosis. All such innovation within the market is expected to increase the reach of POC devices to remote areas in developing and underdeveloped countries and make them pocket friendly and can be adopted by the economically challenged populace. The increasing prevalence of diabetes and other chronic diseases is also contributing towards growth in the global market.

The strict regulation for approval and commercialization is the primary factor restraining the growth of the market. POC devices are being regulated as other diagnostics devices and In-Vitro devices that are regulated by U.S. Food and Drug Administration (FDA). POC devices are considered by FDA as high risk and therefore require pre-market approval. Strict healthcare standards and high regulatory barriers have a significant impact on the introduction of innovative technology. The regulations and standards are strict and require substantial expertise to navigate; this resulted in increased times for pre-market approval and commercialization process

The report includes

  • 59 data tables and 40 additional tables

  • An overview of the global markets and technologies for point of care (POC) diagnostics within healthcare industry

  • Estimation of market size and analyses of global market trends, with data from 2019, 2020, estimates for 2021 and projections of compound annual growth rates (CAGRs) through 2026

  • Evaluation of current market trends, and technological advancements within the industry and market share analysis by test type, product, end-user, and region

  • Coverage of novel approaches for the POC; discussion on significance of CLIA in the United States and FDA's role in POC testing; and information on laser PCR

  • Detailed description about COVID-19 impact on MedTech and medical tourism, discussion on FDA's contribution to COVID-19 diagnostic testing and synopsis of FDA-Associated testing milestones since May 2020

  • Detailed analysis of relevant R&D activities, new products launches and product enhancement in the industry, clinical trials, and discussion of regulatory elements that are affecting the future marketplace

  • Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies

  • Company profiles of major players of the industry, including Abbott, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Medtronic plc, Chembio Diagnostics Inc. and Philips Healthcare


Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market and Technology Background

Chapter 4 Market Dynamics

Chapter 5 COVID-19 Impact Analysis

  • Impact on MedTech

  • Elective and Noncritical Procedures

  • Shift in Manufacturing

  • Regulatory Delays, Clinical Trials and Product Launches

  • Supply Chain Disruptions

  • Medical Tourism

  • FDA's Contribution to COVID-19 Diagnostic Testing

  • Prioritizing of OTC and At-Home Testing Solutions

  • Synopsis of FDA-Associated Testing Milestones Since May 2020

Chapter 6 Global Point of Care Diagnostics Market, by Test Type

Chapter 7 Market Breakdown by Product

Chapter 8 Market Breakdown by End User

Chapter 9 Market Breakdown by Region

Chapter 10 Competitive Landscape

Chapter 11 Company Profiles

  • Abaxis

  • Abbott

  • Becton, Dickinson And Co.

  • Bio-Rad Laboratories Inc.

  • Cardinal Health

  • Chembio Diagnostics

  • Danaher Corp.

  • Ekf Diagnostics Holdings Plc

  • Elitech Group

  • Esaote S.P.A.

  • General Electric

  • Lifescan

  • Lumos Diagnostics Holdings Ltd.

  • Medtronic Plc

  • Mindray Medical International Ltd.

  • Nexus Dx

  • Nova Biomedical

  • Orasure Technologies

  • Philips Healthcare

  • Quidel

  • Roche Holding Ag (F. Hoffmann-La Roche Ltd.)

  • Siemens Healthcare

  • Thermo Fisher Scientific Inc.

  • Zoetis Inc.

For more information about this report visit https://www.researchandmarkets.com/r/aznozq

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