Point of Care & Rapid Diagnostics Market

Point of Care & Rapid Diagnostics Market Global Forecast to 2027 Point of Care & Rapid Diagnostics Market is expected to reach USD 72.0 billion by 2027

Growing at a CAGR of 10.8% (2022 – 2027)

POINT OF CARE & RAPID DIAGNOSTICS MARKET

CAGR of

MARKET OPPORTUNITY OVER NEXT 5 YEARS

CAGR

43.2 bn

2022 – 2027

72 bn

KEY MARKET PLAYERS  Abbott Laboratories (US)  Siemens Healthineers AG (Germany)  Quidel Corporation (US)  F. Hoffman-La Roche Ltd. (Switzerland)

2022

2027

 Danaher Corporation (US)

BY PRODUCT  Glucose  Infectious Disease(HIV, Hepatitis C)  Pregnancy Test

 Becton  Dickinson and Company (US)

North America Europe Asia Pacific Rest of the World

BY END USER  Pharmacy  Hospital  Home

The Global Point of Care & Rapid Diagnostics Market is expected to reach USD 72.0 billion by 2027 from an estimated USD 43.2 billion in 2022, at a CAGR of 10.8% from 2022 to 2027. The growth of the global Point of Care diagnostics market can be attributed to factors such as increasing prevalence of respiratory diseases (such as COVID-19 and influenza) across the globe, and improved access to point-of-care devices through online platforms are some of the other key factors likely to drive the long-term growth of the point-of-care diagnostics market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=106829185 Key Players: Abbott Laboratories (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Becton, Dickinson and Company (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland), Instrumentation Laboratory (a Werfen Company) (US), Nova Biomedical (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Thermo Fisher Scientific (US), and bioMérieux S.A. (France)

Rapid Diagnostics Market Dynamics Driver: High prevalence of infectious diseases POC tests can greatly improve the management of infectious diseases, especially in developing countries where access to timely medical care is a challenge and the healthcare infrastructure is antiquated and sparse. According to UNAIDS, around 20.6 million people were living with HIV in East and Southern Africa in 2018. In 2019, 20,000 new HIV cases were registered in the Middle East and North Africa (Source: UNAIDS Data 2020). In the Asia Pacific, an estimated 5.8 million people were suffering from HIV in 2019, led by India and China. According to UNAIDS, in 2019, approximately 2.1 million people in India were infected with HIV. The high prevalence of HIV is likely to boost the demand for point-of-care diagnostics, further accelerating the treatment of HIV infection.

Opportunity: Emerging markets Emerging markets such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities for players operating in the POC diagnostics market. This is primarily due to the high and growing prevalence of infectious and lifestyle diseases in these countries. Globally, China has the highest number of diabetes patients, with around 114 million people suffering from diabetes in the country in 2017. Similarly, in emerging countries such as Brazil and India, the prevalence of diabetes, CVDs, and HIV/AIDS is very high. In India, heart diseases accounted for 28% of all deaths in 2016, or ~2.8 million people; this is projected to reach ~4.8 million by 2020 (Source: CCDC, India).

Listed below are important statistics related to major infectious diseases in developing countries:      

According to the WHO, India has the highest tuberculosis burden, with an estimated incidence of 2.64 million cases in 2020.

In 2019, around 4.3 million new tuberculosis cases were reported in Southeast Asia, and 632,000 people died due to TB infections in this region (Source: WHO).

According to the National Influenza Policy 2017, around 10,000 deaths and 40,000 hospitalizations are caused due to influenza in South Africa each year.

According to the WHO, 1.2 million people in Southeast Asia suffer from malaria, with India alone accounting for ~76% of the total alaria cases.

During 2014–2016, West Africa reported the largest Ebola epidemic in the region; in two and a half years, the outbreak resulted in more than 28,600 cases and 11,325 deaths.

In 2020, an estimated 15,898 people in Brazil were at risk of Zika virus infections, down from over 30,000 cases reported a year earlier.

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