Global Point of Care Analyzers Market, By Type (Hemoglobin Analyzers, HbA1c Analyzers, Glucose Analyzers, Others), End-Users (Clinics, Hospital, Ambulatory Surgical Centers, Laboratories, Others) - Industry Trends and Forecast to 2029.
Market Analysis and Insights
Point of care testing has reduced critical time on waiting for test results from the lab. Point-of-care (POC) analyzers refer to the medical diagnostic devices that are specifically designed for use within doctors' surgeries, hopsitals, laboratories and clinics to provide fast and accurate results at an affordable price.
POC testing is performed in the presence of the patient allowing open dialogue between them and the medical professional. Data Bridge Market Research analyses that point of care analyzers market is expected to grow with a CAGR of 11.5% during the forecast period.
Point of Care Analyzers Market Dynamics
Drivers
- Prevalence of infectious diseases
The increase in the prevalence of infectious diseases across the globe, is one of the major factors driving the market's growth.
- Government investments
The increase in the funding by the federal government to drive the adoption of these services further influence the market.
- Advancements in technologies
The surge in technological advancements for infectious diseases diagnosis to make it asier for people in underdeveloped and developing countries to afford these tests.
- Increase in geriatric population
The increase in the geriatric population will help in the expansion of point of care analyzers market as elderly people are prone to infectious diseases.
Additionally, advanced healthcare healthcare regulatory scenarios, surge in funding on healthcare infrastructure, high investment in research and development and surge in healthcare expenditure positively affect the point of care analyzers market.
Opportunities
Furthermore, increase in demand for POC tests with multiplexing capabilities and healthcare decentralization extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, high investments and funding for product development are will further expand the point of care analyzers market’s growth rate in the future.
Restraints/Challenges
On the other hand, pricing pressure owing to reimbursement cuts and budget constraints and stringent regulatory policies are expected to obstruct market growth. Also, Lack of alignment with definitive central lab methods and inadequate adoption of POC devices in professional settings are projected to challenge the point of care analyzers market in the forecast period of 2022-2029.
This point of care analyzers 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 analyzers 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 Analyzers Market
COVID-19 had a positive impact on the point of care analyzers market due to the increase in medical condition such as infectious diseases. Furthermore, COVID-19 patients who died or were critically ill owing to which point of care analyzers were elevated in most of the complicated cases of COVID-19.
Recent Development
- Roche Diagnostics FDA approval for the VENTANA PD-L1 (SP142) Assay was finalized in 2019 for the identification of triple-negative breast cancer (TNBC) patients.
- Abott anouced the launch of Afinion HbA1c Dx Assay in 2019, which is a point of care test for diabetes.
Global Point of Care Analyzers Market Scope and Market Size
The healthcare interoperability solutions market is segmented on the basis of type and end-users. The growth amongst these segments will help you analyze meager 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.
Type
- Hemoglobin Analyzers
- Hba1c Analyzers
- Glucose Analyzers
- Others
On the basis of type, the point of care analyzers market is segmented into hemoglobin analyzers, HbA1c analyzers, glucose analyzers and others.
End-Users
- Clinics
- Hospital
- Ambulatory Surgical Centers
- Laboratories
- Others
The end-users segment of the point of care analyzers market is divided into clinics, hospital, ambulatory surgical centers, laboratories and others.
Point of Care Analyzers Market Regional Analysis/Insights
The point of care analyzers market is analysed and market size insights and trends are provided by country, type and end-users as referenced above.
The countries covered in the point of care analyzers 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.
North America dominates the point of care analyzers market because of the high expenditure on R&D and presence of major players within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the development of healthcare infrastructure.
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 global 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 analyzers 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 analyzers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the point of care analyzers market. The data is available for historic period 2010-2020.
Competitive Landscape and Point of Care Analyzers Market Share Analysis
The point of care analyzers 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, global 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 analyzers market.
Some of the major players operating in the point of care analyzers market are EKF Diagnostics Holdings plc, Radiometer Medical ApS, Abbott, F. Hoffmann-La Roche Ltd., Achira Labs Pvt. Ltd. HemoCue India., Trinity Biotech, HORIBA Europe GmbH, Nova Biomedical, and BD among others.
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