Asia-Pacific Point-of-Care Diagnostics Market to be Worth $11.8 Billion by 2030

 

Meticulous Research^®—a leading market research company, published a research report titled, ‘Asia-Pacific Point-of-Care Diagnostics Market by Application (Influenza, Pneumonia, HAI, Salmonellosis, Hepatitis, HIV, COVID, Pregnancy, Glucose Monitoring, Hematology, Tumor Marker, Urinalysis), Platform (LFA, Molecular), Sample, End User - Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the Asia-Pacific Point-of-Care Market is projected to reach $11.80 billion by 2030, at a CAGR of 7.5% from 2023 to 2030. The growth of this market is driven by the increasing prevalence of chronic diseases, innovations in PoC tests, and a lack of skilled technicians for performing lab tests. However, the pricing pressure due to fluctuations in reimbursements restrains the market’s growth. Furthermore, healthcare professionals’ increasing preference for PoC tests over lab tests will offer significant market growth opportunities. However, a lack of awareness regarding the use of PoC devices challenges the market’s growth.

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Key Players:

The key players operating in the Asia-Pacific Point-of-Care market are Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), QuidelOrtho Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Danaher Corporation (U.S.), Becton, Dickinson and Company (U.S.), Trinity Biotech plc (Ireland), Werfen (Spain), Nova Biomedical (U.S.), Sekisui Diagnostics, LLC. (U.S.), Thermo Fisher Scientific Inc. (U.S.), and bioMérieux S.A. (France).

The Asia-Pacific Point-of-Care market is segmented by Offering (Consumables, Instruments, and Software and Services); Platform (Lateral Flow Assays, Molecular Diagnostics, and Other Platform); Application (Blood Glucose Monitoring, Infectious Disease Testing [Parasitic Infections Testing, Blood-Borne Infections Testing {Hepatitis, HIV, Other Blood-Borne Infections}, Respiratory Infections Testing {Influenza, Pneumonia, Other Respiratory Infections Testing}, Healthcare-Associated Infection (HAI) Testing, Gastrointestinal Infections Testing {Salmonellosis, E. Coli Infections, Other GI Infections} Other Infectious Diseases Testing], COVID-19 Testing, Tumor/Cancer Markers Testing, Pregnancy and Fertility Testing [Pregnancy Testing, Fertility Testing], Cardiac Marker/Cardiac Metabolism Testing, Cholesterol/Lipid Profile Testing, Coagulation Testing [Prothrombin Time (PT/INR) Testing, Activated Clotting Time (ACT/APTT) Testing, Other Coagulation Testing], Hematology, Drugs Of Abuse Testing, Urinalysis, Other Poc Testing); Sample Type (Blood Sample, Nasopharyngeal Swab, Urine Sample, Saliva Sample, Other Sample Types); End User (Home Care/Self-Testing, Hospitals, Physician Offices & Ambulatory Care Settings, Diagnostics Laboratories, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes the country-level markets.

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Among the offerings included in the report, in 2023, the consumables segment is expected to account for the largest share of the Asia-Pacific Point-of-Care market. The large market share of this segment can be attributed to the repeated utilization of consumables for POC testing, developments in direct-to-customer tests, and a surge in product approvals.

Among the platforms included in the report, in 2023, the lateral flow assays segment is expected to account for the largest share of the Asia-Pacific Point-of-Care market. The large market share of this segment can be attributed to new product launches, low development costs, and ease of production. Also, the COVID-19 pandemic led to an increased demand for lateral flow assays, due to which there were several new products in the market. For instance, in October 2020, Siemens Healthineers AG (Germany) launched its CLINITEST Rapid COVID-19 antigen test, a point-of-care cassette test, which helps deliver results in 15 minutes.

Among the applications included in the report, in 2023, the blood glucose monitoring segment is expected to account for the largest share of the Asia-Pacific Point-of-Care market. According to the International Diabetes Federation’s (IDF) Diabetes Atlas, in Southeast Asia, the number of adults with diabetes is estimated to reach 113 million by 2030 from 90 million in 2021. Hence, the increasing prevalence of diabetes and simultaneously the need for blood glucose monitoring contributed to the largest market share of the segment.

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Among the sample types included in the report, in 2023, the blood sample type segment is expected to account for the largest share of the Asia-Pacific Point-of-Care market. The large market share of this segment can be attributed to the availability of a large variety of tests using blood samples, which includes blood glucose testing, rapid cardiac markers diagnostics, drugs of abuse screening, infectious disease testing, and the increased prevalence of various chronic diseases.

Among the end user included in the report, in 2023, the hospital segment is expected to account for the largest share of the Asia-Pacific Point-of-Care market. Point-of-care (PoC) devices are utilized across different hospital departments, including the emergency department (ED), intensive care unit (ICU), operating room/reanimation, and delivery room/neonatal ward. Given the diverse range of medical tests conducted within hospitals to diagnose various conditions, the global rise in healthcare expenditure provides a significant factor in the growth of the point-of-care diagnostics market.

This research report analyzes major geographies in Asia-Pacific, namely Japan, China, India, South Korea, Australia, New Zealand, Singapore, Thailand, and the Rest of Asia-Pacific. In 2023, China is expected to account for the largest share of the Asia-Pacific Point-of-Care market. Some of the major factors contributing to the largest share include the presence of a large number of hospitals and diagnostic centers and support from public and private organizations toward the adoption of advanced healthcare facilities.

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Key questions answered in the report:

·  Which are the high-growth market segments in terms of offering, platform, application, sample type, end user, and country/region?

·  What was the historical market for Point-of-Care across Asia-Pacific?

·  What are the market forecasts and estimates for the period 2023–2030?

·  What are the major drivers, restraints, challenges, and opportunities in the Asia-Pacific Point-of-Care market?

·  Who are the major players in the Asia-Pacific Point-of-Care market?

·  What is the competitive landscape, and who are the market leaders in the Asia-Pacific Point-of-Care market?

 

 

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