Asia-Pacific Point-of-Care Testing (POCT) Market, By Product (Glucose Monitoring Products, Cardiometabolic Testing Products, Infectious Disease Testing Products, Pregnancy and Fertility Testing Products, Tumor/Cancer Marker Testing Products, Urinalysis Testing Products, Cholesterol Testing Products, Hematology Testing Products, Drugs-of-Abuse Testing Products, Fecal Occult Testing Products, Rapid Coagulation Testing and Other POC Products), Application (Blood Transfusion, Cardiac Monitoring, Coagulation, Blood Glucose, Haematology, Non- Invasive SPO2 Monitoring, Non- Invasive PCO2 Monitoring, Whole Blood Analysis, Vital Sign Monitoring and Others), Platform (Lateral Flow Assays/Immunochromatography Tests, Dipsticks, Microfluidics, Molecular Diagnostics and Immunoassays), Prescription Mode (Prescription-Based Testing and OTC Testing), Testing Type (Immunoassays, Cell-Based Assays, Nucleic Acid Amplification Testing, Clinical Chemistry Assays and Hematology), End-User (Hospitals, Clinics, Laboratories, Home Care, Ambulatory Surgery Centers and Others), Distribution Channel (Direct Tender and Retail Pharmacies) – Industry Trends and Forecast to 2029
Market Analysis and Size
Point-of-care testing, which is defined as testing that may be done in close proximity to the patient and allows a medical choice to be taken right away based on the results and monitoring. point-of-care testing (POCT), also known as with-patient testing, allows doctors to assess accurate real-time, lab-quality diagnostic results in minutes rather than hours. It guarantees that patients get the most effective and efficient care possible, whenever and wherever they need it.
Data Bridge Market Research analyses that the point-of-care testing (POCT) market which was USD 29 billion in 2021, would rocket up to USD 64.46 billion by 2029, and is expected to undergo a CAGR of 10.5% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
POC tests are not as highly preferred as central laboratory tests because of low volume and high cost. This puts additional strain on the billing system, which must give distinct codes for POC tests. This might result in billing errors by inexperienced or newly hired employees, as well as failure to enter data into the data management system due to mismatched test codes.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Glucose Monitoring Products, Cardiometabolic Testing Products, Infectious Disease Testing Products, Pregnancy and Fertility Testing Products, Tumor/Cancer Marker Testing Products, Urinalysis Testing Products, Cholesterol Testing Products, Hematology Testing Products, Drugs-of-Abuse Testing Products, Fecal Occult Testing Products, Rapid Coagulation Testing and Other POC Products), Application (Blood Transfusion, Cardiac Monitoring, Coagulation, Blood Glucose, Haematology, Non- Invasive SPO2 Monitoring, Non- Invasive PCO2 Monitoring, Whole Blood Analysis, Vital Sign Monitoring and Others), Platform (Lateral Flow Assays/Immunochromatography Tests, Dipsticks, Microfluidics, Molecular Diagnostics and Immunoassays), Prescription Mode (Prescription-Based Testing and OTC Testing), Testing Type (Immunoassays, Cell-Based Assays, Nucleic Acid Amplification Testing, Clinical Chemistry Assays and Hematology), End-User (Hospitals, Clinics, Laboratories, Home Care, Ambulatory Surgery Centers and Others), Distribution Channel (Direct Tender and Retail Pharmacies)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Abbott (U.S), F. Hoffmann-La Roche Ltd (Switzerland), BD (U.S), Siemens Healthcare Private Limited (Germany), Bio-Rad Laboratories, Inc. (U.S), Danaher (U.S), Sekisui Diagnostics (U.S), Trinity Biotech (Ireland), bioMérieux (France), EKF Diagnostics (Germany), AccuBioTech Co., Ltd. (China), Instrumentation Laboratory (U.S), Beckman Coulter, Inc. (U.S), PTS Diagnostics (U.S), Nova Biomedical (U.S), Chembio Diagnostics, Inc. (U.S), Quidel Corporation (U.S) and Sienco, Inc (U.S)
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Market Opportunities
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Point-of-Care Testing (POCT) Market Dynamics
Drivers
- Upward trend in disease prevalence in the developing countries
Chronic diseases and acute infections are on the rise in developing countries, owing to a lack of health awareness, poor medical infrastructure, and a sedentary lifestyle, among other causes. As a result of these circumstances, diagnosis and treatment are delayed, as is the quality of care obtained. The need for point-of-care tests for rapid diagnosis is growing due to their convenience of use, cost-effectiveness, and small product size.
- Benefits related with OTC-based test
The point of care testing market for TC tests is expected to develop at a 7.1% CAGR through 2027, owing to an increase in OTC testing such as pregnancy tests and blood glucose tests that deliver results in a matter of seconds. These examinations do not necessitate the use of a skilled specialist and may be performed by individuals themselves, propelling the industry forward. The First Response kit, for example, is a quick pregnancy test that provides a response in 60 seconds. Accu-Chek active blood glucose metre kits also give customers with readings in 5 seconds, boosting market demand.
- Increasing incidence rate of diabetes and obesity lead to cardiovascular illness
The increased prevalence of diabetes and obesity, the point of care testing market for cardio metabolic testing is predicted to exceed USD 5.3 billion by 2027. The cardiometabolic test also determines the percentage level of Docosahexaenoic acid (DHA) and eicosapentanoic acid (EPA) in red blood cell membrane.This also aids in the identification of new risk factors for cardiac arrest and other heart-related disorders.
Opportunities
- Technological advancement in lateral flow assay
The market for lateral flow assays in point of care testing is expected to reach USD 11.8 billion by 2027. The industry's growth will be aided by the launch of novel products that will allow for rapid advancement in the research and development (R&D) of point-of-care testing (POCT) diagnostic tools. In addition, advances in component materials, reader technologies, reagents, and sensitivity increase have made quantitative results more possible with the use of lateral flow assay, supporting sector growth.
Restraints/Challenges
- Stringent regulatory policies
Due to tight and time-consuming regulatory requirements, the point of care testing industry is growing slowly. With the expanding area of use and increased adoption in developing economies, regulators are placing a greater emphasis on point-of-care testing (POCT) compliance, safety, and usability. Point-of-care testing are classed as class II medical devices by the US Food and Drug Administration. These devices provide a reasonable guarantee of the device's effectiveness and safety.
- Lack of alignment with definitive central lab methods
Unsuitable indications for the performance of the test, inappropriate sampling times and techniques, a lack of information about the patient's condition, and other factors such as fasting before functional tests or variations in posture/position during similar tests are all examples of pre-analytical errors for POC testing.
This point-of-care testing (POCT) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the point-of-care testing (POCT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Point-of-Care Testing (POCT) Market
The growing use of point-of-care tests that can quickly identify COVID-19, the point-of-care diagnostics market will rise significantly in 2022. Point-of-care testing has become an important diagnostic technique due to the necessity for quick diagnostic results. Rapid antigen testing kits that can be utilised efficiently in point-of-care settings are in high demand due to the rapidly increasing number of COVID-19 cases and the growing pressure on governments to enhance patient management. Different significant reasons projected to fuel the long-term growth of the point-of-care diagnostics market are the rising prevalence of other respiratory disorders around the world, the shift toward decentralised diagnostics, and enhanced access to point-of-care devices through online platforms.
Recent Development
Roche introduced its Cobas Pulse System in select countries accepting the CE Mark in January 2022. This is the latest generation of linked point-of-care solutions for professional blood glucose management from Roche Diagnostics.
In October 2021, Thermo Fisher Scientific announced that it had received FDA Emergency Use Authorization (EUA) to run COVID-19 tests with the Spectrum Solutions SpectrumDNA SDNA-1000 collection device, a high-throughput, automated COVID-19 testing system on the Amplitude Solution, using a new saliva sample collection method.
The SPECIFIC REVEAL Rapid AST system was co-exclusively distributed in Europe by bioMérieux and Specific Diagnostics in June 2021. The system works in tandem with bioMérieux's BIOFIRE BCID2.
Asia-Pacific Point-of-Care Testing (POCT) Market Scope
The point-of-care testing (POCT) market is segmented on the basis of product, technology, prescription, application, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Glucose Monitoring
- Strips
- Meters
- Lancets
- Cardiometabolic testing
- Cardiac marker testing
- hsTnl
- BNP
- D-dimer
- CK-MB
- Myoglobin
- Others
- Blood gas/electrolytes testing
- HBA1C testing
- Infectious disease testing
- Influenza testing
- HIV testing
- Hepatitis C testing
- Sexually Transmitted Disease (STD) testing
- Healthcare-Associated Infection (HAI) testing
- Respiratory infection testing
- Tropical disease testing
- Other infectious diseases testing
- Coagulation testing
- PT/INR testing
- Activated Clotting Time (ACT/APTT) testing
- Pregnancy and fertility testing
- Pregnancy testing
- Fertility testing
- Tumor/Cancer marker testing
- Urinalysis testing
- Cholesterol testing
- Hematology testing
- Drugs-of-abuse testing
- Fecal occult testing
- Others
Technology
- Lateral flow assays
- Dipsticks
- Microfluidics
- Molecular diagnostics
- Immunoassays
- Agglutination assays
- Flow-through
- Solid phase
- Biosensors
Prescription
- OTC testing
- Prescription-based testing
Application
- Cardio metabolic testing
- Infectious disease testing
- Nephrology testing
- Drug-of-Abuse (DoA) testing
- Blood glucose testing
- Pregnancy testing
- Cancer biomarker testing
- Other applications
End-user
- Hospitals
- Diagnostic centers
- Research laboratories
- Home-care settings
- Others
Distribution Channel
- Direct tender
- Retail Pharmacies
Point-of-Care Testing (POCT) Market Regional Analysis/Insights
The point-of-care testing (POCT) market is analysed and market size insights and trends are provided by country, product, technology, prescription, application end-user and distribution channel as referenced above.
The countries covered in the point-of-care testing (POCT) market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is expected to dominate the market because point-of-care testing (POCT) products in China have a massive application space in the fields of hospital operation, emergency department, intensive care, chronic disease prevention and control, public health emergencies, county-level medical institution construction, and new rural supportive medical care.
Japan will dominate the market due to an increasing number of people suffering from HIV and other illnesses, which will result in a high approval rate for point-of-care testing devices in the country. India is the dominant country due to the high prevalence of diseases among its people.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The point-of-care testing (POCT) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for point-of-care testing (POCT) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the point-of-care testing (POCT) market. The data is available for historic period 2010-2020.
Competitive Landscape and Point-of-Care Testing (POCT) Market Share Analysis
The point-of-care testing (POCT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to point-of-care testing (POCT) market.
Some of the major players operating in the point-of-care testing (POCT) market are:
- Abbott (U.S)
- F. Hoffmann-La Roche Ltd (Switzerland)
- BD (U.S)
- Siemens Healthcare Private Limited (Germany)
- Bio-Rad Laboratories, Inc. (U.S)
- Danaher (U.S)
- Sekisui Diagnostics (U.S)
- Trinity Biotech (Ireland)
- bioMérieux (France)
- EKF Diagnostics (Germany)
- AccuBioTech Co., Ltd. (China)
- Instrumentation Laboratory (U.S)
- Beckman Coulter, Inc. (U.S)
- PTS Diagnostics (U.S)
- Nova Biomedical (U.S)
- Chembio Diagnostics, Inc. (U.S)
- Quidel Corporation (U.S)
- Sienco, Inc (U.S)
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