Asia Pacific Point of Care Diagnostics Market

Asia Pacific Point of care Diagnostics Market

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raksha

Author :

Raksha Sharma

Vineet

Fact-checked by :

Vineet Pandey

Vishal

Editor :

Vishal Golekar

The Asia Pacific Point of Care Diagnostics Market size was valued at USD 7.40 Billion in 2022 and likely reach to USD 22.59 Billion by 2031, expanding at a CAGR of 13.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing geriatric population base in emerging countries such as Japan and China, along with launching new products using advanced technology.

Point of care (PoC) diagnosis is a type of test conducted near the site of patient care. Increasing occurrence of targeted diseases and rising demand for home healthcare are major factors responsible for the growth of the market. The prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases are key aspects for the market expansion.

Asia Pacific Point of care Diagnostics Market Outlook

Cardiovascular disease is one of the most incurable disorders and has caused high mortality rate worldwide. Furthermore, the case related to diabetes is constantly rising in the region, which prompts to increase the demand for several diagnostic solutions such as PoC glucose testing. Moreover, increasing demand for home healthcare because of several government initiatives and growing patient awareness has resulted to reducing hospital stays and healthcare expenses related to it.

The point of care diagnostic solutions are required in divisions such as ICU, neonatal intensive care units, emergency room, cath labs, and operating room for implementation of effective and quick patient care. Roche Diagnostics and Abbott Laboratories are major manufacturers of PoC diagnostic kits and equipment.

With the rising demand for home setting healthcare systems, these manufacturers have launched some user-friendly portable products, which are likely to benefit patients across the globe. The COVID-19 situation has boost the market due to rising demand for several testing solutions to help early detection of the virus and curb the disease spread.

Rising number of cases of COVID-19 and increasing pressure on government for the improvement in patient management have resulted to boost the demand for antigen testing kits, which are widely used in PoC diagnosis.

Asia Pacific Point of Care Diagnostics Market Trends, Drivers, Restraints, and Opportunities

  • Growing prevalence of infectious diseases and chronic illness worldwide along with the rising number of the aging population who are at the risks of exposing to diseases are expected to fuel the market growth during the forecast period.

  • Rising awareness among patients regarding the advantages of early detection of diseases and high incidence of unmet medical needs to undergo treatment of diseases present key factors for driving the market growth in the region.

  • Introduction of advanced testing kits and improvement in patient care centric technology including home setting care systems are anticipated to propel the market growth.

  • Stringent regulatory policies that delay the approval of diagnostic devices and lack of skilled technicians handling various screening procedures are anticipated to impede the market growth.

  • Ongoing R&D to improve healthcare decentralization and technological advancement of diagnostic devices are projected to create immense opportunities for the market players.

Scope of Asia Pacific Point of Care Diagnostics Market Report

The report on the Asia Pacific Point of Care Diagnostics Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Asia Pacific Point of Care Diagnostics Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Products (Blood Gas & Electrolytes, Infectious Disease Testing, Glucose Testing, Cardiac Markers, Hematology, Coagulation, Primary Care Systems, Decentralized Clinical Chemistry, Urinalysis, Drug Abuse Testing, Fertility, OTC & Rapid Diagnostics, and Feces) and Applications (Hospitals, Laboratory, Assisted Living Healthcare Facilities, Home Healthcare, Clinics, and Others)

Geographical Scope

India, China, South Korea, Japan, and Rest of Asia Pacific

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Alere Inc., Siemens Healthcare, Roche Diagnostics, Danaher Corporation, bioMerieux, Abbott Laboratories, Becton, Dickinson and Company, Johnson & Johnson, Chembio Diagnostics, Quidel Corporation, EKF Diagnostics , Trinity Biotech , AccuBioTech , Nova Biomedical , PTS Diagnostics , Instrumentation Laboratory Company , and Sekisui Diagnostics.

Asia Pacific Point of Care Diagnostics Market Segment Insights

Glucose testing segment is projected to hold a key market share

On the basis of products, the Asia Pacific Point of Care Diagnostics Market is segregated into blood gas & electrolytes, infectious disease testing, glucose testing, cardiac markers, hematology, coagulation, primary care systems, decentralized clinical chemistry, urinalysis, drug abuse testing, fertility, OTC & rapid diagnostics, and feces.

The glucose testing segment is expected to hold a key share of the market during the forecast period owing to rising occurrence of diabetes and need of continuous monitoring of blood sugar level. The International Diabetes Federation published a report stating that the worldwide presence of diabetes are expected to rise from 382 million in 2013 to 592 million by 2035.

Moreover, the segment is also driven by increase sales of diabetes rapid diagnostics kits as these kits are available over the counter as well as allow patients for self-testing and monitoring glucose level. Meanwhile, the OTC & rapid diagnostic segment is expected to constitute a major revenue share of the market in the coming years. The segment growth can be attributed to rising demand for home healthcare setting in countries such as China, Vietnam, India, and Malaysia.

Asia Pacific Point of care Diagnostics Market Products

Home healthcare segment is anticipated to dominate the market

Based on applications, the market is divided into hospitals, laboratory, assisted living healthcare facilities, home healthcare, clinics, and others. The home healthcare segment is projected to dominate the market in the coming years owing to increasing adoption of advanced technologies and growing investment by public and private sector in the development of innovative home healthcare settings.

Asia Pacific Point of care Diagnostics Market Applications

China is expected to dominate the market

On the basis of geography, the Asia Pacific Point of Care Diagnostics Market is classified as India, China, South Korea, Japan, and Rest of Asia Pacific. China is expected to dominate the market by accounting a major market share during the forecast period owing to rising disposable income of a large number of the population and growing awareness of several advanced PoC diagnostic facilities.

Moreover, the presence of a large number of consumer-base in the country along with favorable healthcare policies encouraging the adoption of home setting of healthcare systems are key drivers for the market growth in China.

Segments

Products

  • Blood Gas & Electrolytes
  • Infectious Disease Testing
  • Glucose Testing
  • Cardiac Markers
  • Hematology
  • Coagulation
  • Primary Care Systems
  • Decentralized Clinical Chemistry
  • Urinalysis
  • Drug Abuse Testing
  • Fertility
  • OTC & Rapid Diagnostics
  • Feces

Applications

  • Hospitals
  • Laboratory
  • Assisted Living Healthcare Facilities
  • Home Healthcare
  • Clinics
  • Others

Geography

  • India
  • China
  • South Korea
  • Japan
  • Rest of Asia Pacific

Key Players

  • Alere Inc.
  • Siemens Healthcare
  • Roche Diagnostics
  • Danaher Corporation
  • bioMerieux
  • Abbott Laboratories
  • Becton, Dickinson and Company
  • Johnson & Johnson
  • Chembio Diagnostics
  • Quidel Corporation
  • EKF Diagnostics
  • Trinity Biotech
  • AccuBioTech
  • Nova Biomedical
  • PTS Diagnostics
  • Instrumentation Laboratory Company
  • Sekisui Diagnostics

Competitive Landscape

Key players competing in the Asia Pacific PoC diagnostics market are Alere Inc., Siemens Healthcare, Roche Diagnostics, Danaher Corporation, bioMerieux, Abbott Laboratories, Becton, Dickinson and Company, Johnson & Johnson, Chembio Diagnostics, Quidel Corporation, EKF Diagnostics, Trinity Biotech, AccuBioTech, Nova Biomedical, PTS Diagnostics, Instrumentation Laboratory Company, and Sekisui Diagnostics.

Key players are widely focusing to adopt business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance, Precipio Inc. entered into a partnership with ADS biotech in July 2020 for manufacturing immunoassay based COVID-19 detection kits.

Asia Pacific Point of care Diagnostics Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Point of Care Diagnostics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Point of Care Diagnostics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Point of Care Diagnostics Market - Supply Chain
  4.5. Global Point of Care Diagnostics Market Forecast
     4.5.1. Point of Care Diagnostics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Point of Care Diagnostics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Point of Care Diagnostics Market Absolute $ Opportunity
5. Global Point of Care Diagnostics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Point of Care Diagnostics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Point of Care Diagnostics Demand Share Forecast, 2019-2026
6. North America Point of Care Diagnostics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Point of Care Diagnostics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Point of Care Diagnostics Demand Share Forecast, 2019-2026
7. Latin America Point of Care Diagnostics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Point of Care Diagnostics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Point of Care Diagnostics Demand Share Forecast, 2019-2026
8. Europe Point of Care Diagnostics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Point of Care Diagnostics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Point of Care Diagnostics Demand Share Forecast, 2019-2026
9. Asia Pacific Point of Care Diagnostics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Point of Care Diagnostics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Point of Care Diagnostics Demand Share Forecast, 2019-2026
10. Middle East & Africa Point of Care Diagnostics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Point of Care Diagnostics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Point of Care Diagnostics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Point of Care Diagnostics Market: Market Share Analysis
  11.2. Point of Care Diagnostics Distributors and Customers
  11.3. Point of Care Diagnostics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Alere Inc. Siemens Healthcare Roche Diagnostics Danaher Corporation bioMerieux Abbott Laboratories

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