Increasing Private and Public Expenditure for the Development of Healthcare Infrastructure is Driving the Growth of the Global Lipid POCT Market

 

Point-of-care lipid testing can be used to determine cholesterol, low-density lipoprotein, high-density lipoprotein, and triglycerides levels in the blood. With POC testing, the time spent between a patient's diagnosis and treatment in hospitals, clinics, ambulances, and homes is considerably decreased. Because of its timeliness, convenience, and potential to enhance patient outcomes, POCT is becoming more popular. Antibody-based and microbial particle-based detection techniques are used in most of these assays.   ​

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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. Increased prevalence of respiratory diseases (such as COVID-19 and influenza) across the globe, as well as enhanced access to point-of-care devices via online platforms, are some of the other significant drivers projected to fuel the long-term growth of the point-of-care diagnostics market.   

Lipid POCT Market

Technological advancements for the delivery of effective healthcare service will drive the market's growth rate

The improvements of the engineering applications to healthcare technologies also significantly impacted the country's economic growth. The emergent technologies, such as sensor technology, the internet of things (IoT), artificial intelligence (AI), big data and so on, have helped researchers and healthcare professionals design and develop efficient, innovative solutions in healthcare services to protect the workers from different hazards. This is driving the growth of the market. Increased expenditure by public and private players on infrastructure development will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced technologies will yet again widen the scope of growth.  

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2021 to 2028

Base Year

2020

Historic Years

2019 (Customizable to 2013 - 2018)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

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.

Market Players Covered

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.             

Data Points Covered in the Report

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.

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).

Lipid POCT Market

Market Development

  • In November 2020, F. Hoffmann-La Roche Ltd was recognized as the most suitable company by Dow Jones Sustainability Index. The recognition was based on the in depth analysis of social, economic and environmental performance. This will help the company further diversify its market position and grow in coming years.
  • Roche introduced its Cobas Pulse System in select countries receiving 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.
  • Thermo Fisher Scientific announced in October 2021 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.

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

The market is expected to be dominated by North America, which is expected to rise in prevalence of cancer cases, presence of key players, increase in healthcare expenditure, advancements in technology, and rise in government initiatives in the region. Due to a growth in the number of cancer patients and demand for new technologies, the United States was the largest market. In addition, the region's plasma fractionation market is fueled by the presence of major competitors.

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 owing to an increase in the region's general population, a spike in facilities offering plasma fractionation services, and increased investments in the healthcare sector. Furthermore, as part of their economic growth aspirations, growing economies in APAC, such as India, are heavily investing in the infrastructure development.

COVID-19 Impact Analysis

The global demand for diagnostic kits to quickly diagnose COVID-19 has increased as a result of the outbreak. However, there is a serious shortage of laboratory-based molecular assays in many nations around the world. As a result, numerous players are concentrating on growing the global testing supply. Because of 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 requirement for quick diagnostic results. Rapid antigen testing kits that may be utilized effectively 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. Significant reasons projected to fuel the long-term growth of the point-of-care diagnostics market include the rising prevalence of other respiratory disorders worldwide, the shift toward decentralized diagnostics, and enhanced access to point-of-care devices through online platforms.

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