Home healthcare preferences make clinical information available at the right place and time. It will also help in reducing errors and increasing safety with ensured quality. They also help elders in case of medical emergency. Many strategic changes have been made in health care to address point-of-care testing benefits. As per the World Health Organization (WHO), the number of people aged 65 and above is expected to rise from an estimated 524 million in 2010 to approximately 1.5 billion in 2050, with developed countries accounting for the majority of the increase.
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Global Lipid POCT Market is expected to reach USD 969.68 million by 2028 from USD 652.34 million in 2020, growing with a CAGR of 5.12% in the forecast period of 2021 to 2028. The lipid point-of-care testing (POCT) have been witnessing a surge over a period of time with the help of technological advancements. The diagnosis rate is increasing worldwide which requires significant progress in chronic diseases prevention, early diagnosis and better treatment. Hence, there is a large unmet medical need for treatments for major diseases and infections.
The rise in the number of chronic infections will drive the market's growth rate
The encumbrance of chronic disease is briskly increasing across the globe. According to the WHO (World Health Organization), during the year of 2001, the contribution of chronic disease was about 60% that is accounted from the number of deaths. Thus, on conclusion, the rise in the number of chronic diseases such as cardiovascular diseases and diabetes among more has led to people opting for lipid-based point-of-care kits and products for testing, which will drive the growth of the global lipid POCT market in coming years.
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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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Instruments, Consumables and Kits), Application (Hyperlipidemia, Hypertriglyceridemia, Hyperlipoproteinemia, Familial hypercholesterolemia, Tangier Disease, Others), Mode (Prescription-Based Testing, OTC-Based Testing), Brand (Roche Reflotron, Roche Cobas B 101, Alere Cholestech LDX, Alere Afinion, Samsung Labgeo, PTS Cardiochek, Others), Platform (Lateral Flow Assays (Immunochromatography Tests), Molecular Diagnostics, Immunoassays, Dipsticks, Microfluidics), End User (Hospitals, Professional Diagnostic Centers, Home Care, Research Laboratories, Other End Users), Distribution Channel (Direct Tender, Retail Sales)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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SD Biosensor,INC (South Korea). Abbott (U.S.), PTS Diagnostics (U.S.), Trinity Biotech (Ireland), F.Hoffmann-La Roche Ltd. (Switzerland), Nova Biomedical (U.S.), Calligari Srl (Italy), AMD SOLUTIONS (U.S.), EuroMedix (Belgium), Siemens Healthcare GmbH (Germany), TASCOM (South Korea), General Life Biotechnology Co., Ltd. (Taiwan), MICO BIOMED (South Korea), Jant Pharmacal Corporation (U.S.), Samsung Medison Co., Ltd. (South Korea), A. Menarini Diagnostics s.r.l (Italy), ACON Laboratories, Inc. (U.S.), PRIMA Lab SA (Switzerland), Quest Diagnostics Incorporated (U.S.), and SKYLA CORPORATION (South Korea) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, 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
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Segment Analysis:
Global lipid POCT market is segmented into seven notable segments which are based on the type, application, mode, brand, platform, end user and distribution channel.
- On the basis of type, the lipid POCT market is segmented into instruments, consumables and kits. In 2021, instrument segment in lipid POCT market is expected to reach USD 581.56 million by 2028 from USD 406.89 million in 2020 with a market share of 62.1%, due to changing lifestyles and increasing chronic diseases, and a lack of awareness of over-the-counter POCT devices.
- On the basis of application, the lipid POCT market is segmented into hyperlipidemia, hypertriglyceridemia, hyperlipoproteinemia, tangier disease, familial hypercholesterolemia and others. In 2021, hyperlipidemia segment in lipid POCT market is expected to reach USD 581.58 million by 2028 from USD 405.52 million in 2020 with a market share of 61.9%, because of the rising geriatric population and unhealthy lifestyle.
- On the basis of mode, the lipid POCT market is segmented into OTC-based testing and prescription-based testing. In 2021, prescription-based test segment in lipid POCT market is expected to reach USD 775.66 million by 2028 from USD 532.05 million in 2020 with a market share of 81.4%, because of high preference of Point of care lipid testing been recommended for lipid profiling in hospitals and skilled laboratory professionals globally.
- On the basis of brand, the lipid POCT market is segmented into Roche Reflotron, Roche Cobas B 101, Alere Cholestech LDX, Alere Afinion, PTS Cardiochek and others. In 2021, Roche Reflotron segment in LIPID POCT market is expected to reach USD 462.81 million by 2028 due to their advanced technology over point of care devices.
- On the basis of platform, the lipid POCT market is segmented into lateral flow assays (immunochromatography tests), dipsticks, microfluidics, molecular diagnostics, immunoassays. In 2021, lateral flow assays/ immunochromatography tests segment in lipid POCT market due to advanced technologies and inventions.
- On the basis of end user, the lipid POCT market is segmented into hospitals, professional diagnostic centers, home care, research laboratories and other end users. In 2021, hospital segment in lipid POCT market is expected to reach USD 341.20 million by 2028 due to growing patient preference towards lipid diagnosis in hospitals. However, the high investment cost may hamper the lipid POCT market growth.
Hospitals segment will dominate the end user segment of the lipid POCT market
Hospitals will emerge as the dominating segment under distribution channel in 2021 with approximately 38% market share. This is because of the growing number of hospitals in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.
- On the basis of the distribution channel, the lipid POCT market is segmented into direct tender and retail sales. In 2021, direct tender segment in lipid POCT market is expected to reach USD 598.04 million by 2028 due to the increased demand for advanced technologies and testing requirements in medical care for operations and diagnosis.
Direct tenders segment will dominate the distribution channel segment of the lipid POCT market
The direct tenders segment will emerge as the dominating segment under distribution channel in 2021. This is because of the growing number of direct tenders in the market especially in the developing economies. Further, growth and expansion of the distribution channels all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in lipid POCT market: SD Biosensor,INC (South Korea). Abbott (U.S.), PTS Diagnostics (U.S.), Trinity Biotech (Ireland), F.Hoffmann-La Roche Ltd. (Switzerland), Nova Biomedical (U.S.), Calligari Srl (Italy), AMD SOLUTIONS (U.S.), A. Menarini Diagnostics s.r.l (Italy), ACON Laboratories, Inc. (U.S.), PRIMA Lab SA (Switzerland), Quest Diagnostics Incorporated (U.S.), and SKYLA CORPORATION (South Korea).
Market Development
- In June 2020, Johnson & Johnson Services, Inc. announced a new collaboration to provide training for healthcare workers in Sub-Saharan Africa, including Kenya, Uganda, Ethiopia, Nigeria and Egypt, among others. This collaboration was meant to reach 600,000 healthcare workers including nurses, doctors and midwives.
- In January 2020, Polymer Technology Systems, Inc. announced that it has recalled its class 2 medical devices named CardioChek Plus Professional Analyzer due to its manufacturing defect in the batteries leading to potential overheating of the device.
- In August 2019, Polymer Technology Systems, Inc. announced the recall of its Class 3 medical device named PTS Panels Lipid Panel test strip: IVD Lipid Panel Test Strips, a lipid POCT device due to unidentified reasons.
- In February 2019, Alere San Diego, Inc. announced that it has voluntarily recalled its Class 2 medical devices named Alere Cholestech LDX Analyzer for lipid POCT. The reason given by the firm for the recall was reverse polarity of the device which renders its inoperable and non-functioning.
Regional Analysis
Geographically, the countries covered in the lipid POCT market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in lipid POCT market during the forecast period 2021 - 2028
- In 2021, North America is dominating the global lipid POCT market with a growing CAGR of 4.9% because of their latest advanced technology and inventions in the healthcare sectors. The U.S. is dominating the market due to increasing prevalence of chronic diseases and rising technological advancements.
Asia-Pacific is estimated to be the fastest-growing region in lipid POCT market the forecast period 2021 - 2028
Asia-Pacific is expected to increase significantly as well and will register the highest growth rate because of the increasing diagnosis rate and awareness about cardiovascular disease. China is going to dominate in the Asia-Pacific lipid POCT market because of the increasing diagnosis rate and awareness about cardiovascular disease.
COVID-19 Impact Analysis
The emergence of COVID-19 has further propelled the demand of quick and efficient lipid POCT products and services. This enlightens the vision and interest of World Economic Forum and many public and private sector over global demands on healthcare advancements. Thus, the technological advancements have been developing in order to find more treatments and diagnosis.
For more detailed information about the lipid POCT on market report, click here – https://www.databridgemarketresearch.com/zh/reports/global-lipid-poct-market
