The market for non-hospital-based point-of-care diagnostic products is expected to reach $12.9 billion by 2022. The market for non-hospital-based point-of-care diagnostic products is expected to reach US$ 33.6 billion by 2032, growing at a CAGR of 9.1% over the forecast period.
The availability of various self-test kits and devices is increasing demand for non-hospital-based point-of-care diagnostic products. Furthermore, these are widely used in home care settings, and clinics are expected to increase their non-hospital-based point-of-care diagnostic products market share from 2022 to 2032.
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In recent years, the growing geriatric population, rising diabetes incidence, and unmet need for home care have all contributed to the growth of the non-hospital-based point-of-care diagnostic products market.
The growing prevalence of target diseases, combined with an increase in the geriatric population base, which is more prone to disease development and requires home care and monitoring, is expected to drive future trends in the non-hospital-based point-of-care diagnostic products market over the forecast period.
Non-Hospital-Based Point-Of-Care Diagnostic Products Market Overview
The non-hospital-based point-of-care diagnostic product includes various self-tests kits and devices which is widely used in home care settings and clinics. Non-hospital-based point-of-care diagnostic products are basically in-vitro diagnostic medical devices that have the medical purpose. There is number of products present in the market for non-hospital-based point-of-care diagnosis which can be used to diagnose for a variety of conditions or to monitor a particular treatment. Some common examples include pregnancy tests and test kits for measuring blood sugar. The non-hospital based point-of-care diagnostic product market is rapidly expanding owing to cost-effectiveness and comfort level.
The non-hospital based point-of-care diagnostic product provides to the patients is anticipated to empower the clinicians in addressing healthcare challenges and take decisions instantly. The extensive use of Non-hospital-based point-of-care diagnostic products boosts the market growth over the forecast period. Non-hospital-based point-of-care diagnostic products give the accuracy, reliability, efficiency for the end user is expected to fuel the market growth. Growing demand for Non-hospital-based point-of-care diagnostic products in emerging countries also create tremendous opportunity during the forecast period
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Non-Hospital-Based Point-Of-Care Diagnostic Products Market: Overview
Huge competition in the Non-hospital-based point-of-care diagnostic products market is due to the increased number of service providers. Point-of-care testing can be a tremendous asset to many types of healthcare providers and healthcare settings. Blood glucose testing POC meters accounted for the largest share of over the forecast period due to the sheer volume of these tests marketed on account of their high usage. Rapid healthcare shift to early detection and prevention initiative for disease treatment is expected to increase the demand for non-hospital based point-of-care diagnostics products, which is expected to witness lucrative growth during the forecast period.
By Product type, Non-hospital-based point-of-care diagnostic products can be segmented into Paper-based Test Kit and Analyzer.
By End-user, Non-hospital-based point-of-care diagnostic products can be segmented into Segmented into, Diagnostic Clinics, Home care setting, clinics and other.
By region, Non-hospital-based point-of-care diagnostic products market is segmented into North America, Western Europe, Eastern Europe, Latin America, Asia-Pacific excluding Japan, Japan and the Middle East and Africa
Non-Hospital-Based Point-Of-Care Diagnostic Products Market: Region-wise Outlook
By region, global Non-hospital-based point-of-care diagnostic products market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia-Pacific Excluding Japan), Japan and Middle East & Africa. North America followed by Europe will continue to dominate the global Non-hospital-based point-of-care diagnostic products market attributed to the high incidence of metabolic disease moreover, favorable government regulations and initiatives pertaining to the development of healthcare infrastructure are expected to result in higher demand for Non-hospital-based point-of-care diagnostic products market globally over the forecast period. Asia Pacific excluding Japan is expected to be the most attractive regional market, owing to the presence of high unmet medical needs and constantly improving healthcare infrastructure, growing medical awareness, and rise in per capita income levels in developing economies of including India and China.
Non-Hospital-Based Point-Of-Care Diagnostic Products Market: Key Market Participants
The key players in the Non-hospital-based point-of-care diagnostic products market are Abbott Laboratories Inc., Siemens Healthcare GmbH, Bio Rad Laboratories Inc., Thermo Fisher Scientific Inc., Roche Diagnostics (H. Hoffman-La Roche Ltd.), STD Rapid Test Kits etc. Most of the companies sell their products through the medical equipment distributors that operate in different regions and therefore account for substantial competition with respect to the distribution network and market presence.
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