Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The point of care testing is also named as beside testing which implies any part of diagnostic test that are not performed in the diagnostic laboratory. More Specifically, this type of testing is performed as close as possible to the patients. Most of the time the besides the patients or near the patient and due to that it is called as the point of care diagnostics. In another words, point of care testing encompasses any tests which are performed at or near a patient and the site of care treatment have to be provided. The result of point of care diagnostics are obtained relatively faster than that of the diagnostic laboratories.
The United States point of care diagnostic market is observing tremendous growth during forecast period of 2021 to 2027. The point of care testing enables healthcare staff to make rapid triage and treatment decisions at the time of diagnosis of patient’s condition or examine the treatment response of patients. The dynamic factors such as high prevalence of infectious diseases, increasing incidences of target conditions, supportive government policies, dearth of skilled laboratory technicians are driving growth of United States point of care diagnostic market. However, stringent regulatory policies and pricing pressure owing to reimbursement cuts and budget constraints is hindering the growth of United States point of care diagnostic market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the point of care diagnostic market. In addition, complete analysis of changes on point of care diagnostic expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on United States economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The outbreak of COVID-19 has boosted the growth of diagnostic kits for rapid detection of diseases. There is somewhat mismatch between the demand and supply as there is complete shutdown in many countries due to outbreak of COVID-19. The rapidly growing number of COVID-19 cases and the growing pressure on governments for improving patient management has boosted the demand for rapid antigen testing kits which can effectively use in point if care settings.
The United States point of care diagnostic market is segmented into test type, mode of prescription and end user.
Based on product type, the United States point of care diagnostic market is segmented into glucose monitoring, cardiometabolic monitoring, infectious diseases monitoring, coagulation monitoring, pregnancy and fertility testing, faecal occult testing, haematology testing, tumour/cancer marker testing, urinalysis testing, drug abuse testing and cholesterol testing. In which haematology testing is also contributing to the growth of United States point of care diagnostic market. The rising prevalence of chronic and long-term diseases is propelling growth of United States point of care diagnostic market. The growing incidences of blood disorders is also boosting growth of United States point of care diagnostic market.
Based on mode of prescription, the United States point of care diagnostic market is bifurcated into prescription based and over the counter. In which over the counter products is witnessing fastest growth of the market in 2020. The rising trend of OTC products over the prescription products is boosting growth of United States point of care diagnostic market. The growing use of novel technologies is also boosting the growth of United States point of care diagnostic market.
Based on end user, the United States point of care diagnostic market is categorised into hospitals/critical care centres, ambulatory care settings, research laboratories and home care. In which hospitals/critical care centres is likely to dominate the United States point of care diagnostic market in 2020. The rising need for long term care and frequent monitoring is boosting growth of United States point of care diagnostic market. Growing awareness for cost effective and highly innovative point of care centres is also boosting growth of United States point of care diagnostic market.
The major key players operating in the market of point of care diagnostic market are Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Becton Dickinson And Company, Abbott Laboratories, Quidel Diagnostics, Chembio Diagnostics, Ekf Diagnostics, Trinity Biotech and Fluxergy among others.
June 2019: Abbott announced the launch of Affinion HbA1c Dx Assay , a point of care test for diabetes.
June 2019: Quidel Corporation received US FDA approval to commercialize Quidel Triage TOX Drug Screen.
March 2019: Roche Diagnostics FDA approval for the VENTANA PD-L1 (SP142) Assay for identifying triple-negative breast cancer (TNBC) patients.
February 2019: Danaher acquired the Biopharma business of GE Life Sciences with an aim to established as a standalone operating company and strengthen the point of care diagnostics product portfolio.
The report analyses the point of care diagnostic market based on product type, mode of prescription and end user. Various types of products available in the point of care market are glucose monitoring, cardiometabolic monitoring, infectious diseases monitoring, coagulation monitoring, pregnancy and fertility testing, faecal occult testing, haematology testing, tumour/cancer marker testing, urinalysis testing, drug abuse testing and cholesterol testing. By mode of prescription, the market is segmented into the prescription based and over the counter products. Based on end users, the market is segmented into the hospital/critical care centres, ambulatory care settings, research laboratory and home care. The study also analyses the impact of COVID-19 on the point of care diagnostic market and it founds that the outbreak of COVID-19 has boosted the growth of diagnostic kits for rapid detection of diseases. There is somewhat mismatch between the demand and supply as there is complete shutdown in many countries due to outbreak of COVID-19. The rapidly growing number of COVID-19 cases and the growing pressure on governments for improving patient management has boosted the demand for rapid antigen testing kits which can effectively use in point if care settings. The study also analyses various major key players operating in the market.
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