The global “infectious disease point of care (PoC) diagnostics“ market size is projected to reach USD 3,371.1 million by the end of 2027. The presence of several large-scale companies in this sector will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Infectious Disease Point-of-care (POC) Diagnostics Market Size, Share COVID-19 Impact Analysis, By Technique (Lateral Flow Immunoassay, Agglutination Test, Flow-through Test, Molecular Diagnostics, and Others), By Disease (HIV, Hepatitis B Virus, Pneumonia/Streptococcus Associated Infections, Respiratory Syncytial Virus (RSV), Influenza, Clostridium Difficile Infections (CDI), Hepatitis C Virus, Methicillin Resistant Staphylococcus Aureus (MRSA), Tuberculosis, and Others), By End User (Hospital Bedside, Physicians Office Lab, Urgent Care Retail Clinics, Home Self-Testing, Nursing Homes, and Others), and Regional Forecast, 2020-2027” the market was worth USD 1246.5 million and will exhibit a CAGR of 17.4% during the forecast period, 2020-2027.
Point of care (PoC) testing allows faster diagnosis of diseases at the patient site itself. The drawbacks of conventional diagnostic methods including time to test, inefficiency, and non-portability can be overcome through infectious disease PoC diagnosis. Recent technological advances have opened up a massive potential for the growth of the market in the past few years. The increasing popularity of this concept is consequential to the rapid technological advances. The increasing product demand has encouraged companies to invest higher upfront capital. The sector holds a huge potential for entry-level as well as mid-sized companies across the world. Additionally, increasing research activities will also emerge in favor of market growth in the forthcoming years.
Major Infectious Disease Point of Care Diagnostics Market Key players covered in the report include:
- Hoffmann-La Roche Ltd (Basel, Switzerland)
- Thermo Fisher Scientific Inc. (Massachusetts, U.S.)
- Abbott Laboratories (Illinois, U.S)
- Quest Diagnostics Incorporated (New Jersey, United States)
- BD (Franklin Lakes, U.S)
- bioMérieux SA (Marcy l'Etoile, France)
- Cardinal Health, Inc. (Ohio, U.S)
- Mesa Biotech (California, U.S)
- Cepheid (California, U.S)
- Trinity Biotech (Bray, Ireland)
- Quidel Corporation (San Diego, U.S.)
- Bio-Rad Laboratories Inc. (California, U.S)
- Other Players
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Global Infectious Disease Point of Care Diagnostics Market report covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Infectious Disease Point of Care Diagnostics Market Analysis 2021:
Covid-19 Pandemic to Create Massive Opportunities for Rapid Market Growth
The recent coronavirus outbreak has created a sense of panic and urgency across the world. The pandemic has had a drastic impact on several economies across the globe, with SMEs being affected the most. With only large-scale companies being able to sustain the drawbacks of the pandemic in a seamless manner, it is evident that these companies will look to adopt newer strategies to recover the losses in the past few months. The use of several PoC diagnostic test kits has risen dramatically in the past few months, given the ability of the product to generate results in a time span that is lesser than 30 mins. Having said that, major attention has been given to the SARS-Cov-2 infection and other diagnostic products have been kept on hold. As a result, the Covid-19 pandemic has brought mixed fortunes for companies in the infectious disease PoC diagnostics market.
Increasing Product Use during Covid-19 Pandemic will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. The massive investments in infectious disease PoC diagnostics have yielded a few exceptional products, enabling applications across diverse treatment procedures. The product has also been put to use in detecting symptoms of Covid-19 in the ongoing pandemic. Several large-scale companies are looking to maximize the use of the product during the pandemic and as a result, the investments in PoC diagnostics has gone up considerably in the past few months. In May 2020, Quest Diagnostics announced that it has received emergency use authorization (EUA) from the US Food and Drug Administration (FDA) for its self-collection antibody test kits. The product is used for test kit for Covid-19 for patients looking to get tested from home. Increasing number of product innovations will have a huge impact on the growth of the overall market in the coming years.
For more information visit : https://www.fortunebusinessinsights.com/infectious-disease-point-of-care-poc-diagnostics-market-104307
North America to Emerge Dominant; Growing Penetration of Advanced PoC Diagnostics will Emerge in Favor of Market Growth
The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East Africa, and Latin America. Among all regions, the market in North America is projected to emerge dominant in the coming years. The increasing adoption of advanced PoC diagnostics, especially in the United States, has contributed to the growth of the regional market. The increasing Covid-19 cases has also given the platform for companies in the infectious disease PoC diagnostics sector. As of 2019, the market in North America was worth USD 457.2 million and this value is projected to rise at a considerable pace in the coming years. The market in Europe held the second largest share, following North America in the global market.
June 2020 - Cepheid announced launch of Xpert Xpress SARS-CoV-2/Flu/RSV a four in one combination test used for the detection of detection of SARS-CoV-2, Flu A, Flu B and RSV from a sample of single patient.
Key questions answered in the report:
- What will the market growth rate of Infectious Disease Point of Care Diagnostics market in 2027?
- What are the key factors driving the global Infectious Disease Point of Care Diagnostics market?
- Who are the key manufacturers in Infectious Disease Point of Care Diagnostics market space?
- What are the market opportunities, market risk and market overview of the Infectious Disease Point of Care Diagnostics market?
- What are sales, revenue, and price analysis of top manufacturers of Infectious Disease Point of Care Diagnostics market?
- Who are the distributors, traders and dealers of Infectious Disease Point of Care Diagnostics market?
- What are the Infectious Disease Point of Care Diagnostics market opportunities and threats faced by the vendors in the global Infectious Disease Point of Care Diagnostics industry?
- What are sales, revenue, and price analysis by types and applications of Infectious Disease Point of Care Diagnostics market?
- What are sales, revenue, and price analysis by regions of Infectious Disease Point of Care Diagnostics industry?
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