The Asia-Pacific point-of-care testing (POCT) market is a rapidly evolving sector in healthcare, marked by decentralized diagnostic testing. POCT facilitates immediate on-site patient results, expediting decision-making and treatment. With a growing demand for swift and accurate diagnostics, especially in remote settings, the adoption of POCT devices is rising. As the region embraces personalized and preventive healthcare, the Asia-Pacific POCT market is poised for ongoing growth, catering to diverse populations with evolving healthcare needs.
Data Bridge Market Research analyses that the Asia-Pacific Point-of-Care Testing (POCT) Market, which was USD 29 billion in 2021, is expected to reach USD 64.46 billion by 2029 and is expected to undergo a CAGR of 10.5% during the forecast period 2022 to 2029.
"Cardiometabolic testing market drive the market growth"
The surge in diabetes and obesity rates is driving a consequential rise in cardiovascular illnesses. The point-of-care testing (POCT) market for cardiometabolic testing is anticipated to surpass expectations. These tests assess the levels of Docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) in red blood cell membranes, aiding in pinpointing new risk factors for cardiac arrest and other heart-related disorders. This diagnostic frontier is crucial in proactively managing and addressing the evolving landscape of cardiovascular health in the context of escalating metabolic conditions.
What restraints the growth of the Asia-Pacific point-of-care testing (POCT) market?
" Stringent regulatory policies hamper the market growth"
The point-of-care testing industry faces slow growth due to regulatory policies' onerous and time-consuming nature. Stringent requirements have imposed considerable constraints, impeding the industry's pace of advancement. Navigating through intricate regulatory frameworks proves to be a formidable task, contributing to delays in product development and market entry. This regulatory landscape presents a considerable hurdle, hindering the sector's ability to adapt and expand in response to evolving healthcare needs swiftly.
Segmentation: Asia-Pacific Point-of-Care Testing (Poct) Market
The Asia-Pacific point-of-care testing (POCT) market is segmented on the basis of product, technology, prescription, application, end-user, and distribution channel.
- On the basis product, the Asia-Pacific point-of-care testing (POCT) market is segmented into 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
- On the basis of Platform, the Asia-Pacific point-of-care testing (POCT) market is segmented into lateral flow assays/immunochromatography tests, dipsticks, microfluidics, molecular diagnostics and immunoassays
- On the basis of prescription mode, the Asia-Pacific point-of-care testing (POCT) market is segmented into prescription-based testing and OTC testing
- On the basis of testing type, the Asia-Pacific point-of-care testing (POCT) market is segmented into immunoassays, cell-based assays, nucleic acid amplification testing, clinical chemistry assays and hematology
- On the basis of application, the Asia-Pacific point-of-care testing (POCT) market is segmented into blood transfusion, cardiac monitoring, coagulation, blood glucose, haematology, non- invasive spo2 monitoring, non- invasive pco2 monitoring, whole blood analysis, vital sign monitoring and others
- On the basis of end-user, the Asia-Pacific point-of-care testing (POCT) market is segmented into hospitals, clinics, laboratories, home care, ambulatory surgery centers and others
- On the basis of distribution channel, the Asia-Pacific point-of-care testing (POCT) market is segmented into direct tender and retail pharmacies
Regional Insights: India dominates the Asia-Pacific Point-of-Care Testing (Poct) Market
India dominates the Asia-Pacific point-of-care testing (POCT) market, primarily attributed to the widespread prevalence of diseases among its population. The high incidence of health conditions has spurred the demand for efficient diagnostic solutions, consolidating India's position as a key player in the region. This dominance underscores the country's pivotal role in shaping the landscape of point-of-care testing, reflecting the urgent need for accessible and rapid healthcare solutions.
Japan is expected to dominate the Asia-Pacific point-of-care testing (POCT) market. The surge in HIV and other illnesses has led to a growing number of individuals seeking testing. This rise in demand is anticipated to contribute to a notably high approval rate for point-of-care testing devices in the country, solidifying Japan's prominent position in the regional POCT market.
China is expected to dominate the Asia-Pacific point-of-care testing (POCT) market. The extensive application of POCT products in hospital operations, emergency departments, intensive care, chronic disease prevention, public health emergencies, county-level medical institutions, and new rural supportive medical care positions China at the forefront of market influence and utilization.
Recent Developments: Asia-Pacific Point-of-Care Testing (Poct) Market
- In January 2022, Roche launched the Cobas Pulse System in select CE Mark-accepting countries, representing the latest generation of connected point-of-care solutions for professional blood glucose management by Roche Diagnostics
- In October 2021, Thermo Fisher Scientific secured FDA Emergency Use Authorization (EUA) for COVID-19 testing using Spectrum Solutions' SpectrumDNA SDNA-1000 collection device. The high-throughput, automated testing system on the Amplitude Solution is now authorized, incorporating a novel saliva sample collection method for efficient COVID-19 diagnostics
- In June 2021, the SPECIFIC REVEAL Rapid AST system, co-exclusively distributed in Europe by bioMérieux and Specific Diagnostics, complemented bioMérieux's BIOFIRE BCID2 for enhanced infectious disease diagnostics
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The Prominent Key Players Operating in the Asia-Pacific Point-Of-Care Testing (Poct) Market Include:
- 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.)
Above are the key players covered in the report, to know about more and exhaustive list of Asia-Pacific point-of-care testing (POCT) market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Asia-Pacific Point-of-Care Testing (Poct) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
