SEATTLE, March 16, 2021, (MEDGADGET) —
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global PoC Platform & Technology Market, by Technology (Lateral Flow-based Assays, Enzyme Label, Microfluidics, Biochips, Biosensors, and Others), by Application (Diagnostic and Monitoring, and Drug Development and Quality Testing), By End User (Hospitals, Clinics, Laboratories, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 21,370.3 million in 2016 and is estimated to exhibit a CAGR of 8.9% over the forecast period (2017-2025).
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The POC platform & technology market is expected to witness significant growth over the forecast period, owing to rising awareness about launches of novel diagnostic techniques by key players, which offers instant results that help in early diagnosis.
Increasing investments for R&D by the organizations is expected to augment market growth.
Non-government organizations are focusing on research and development of novel point-of-care devices as they offer robust, inexpensive, and simple diagnostic tests at emergency settings, which is expected to enhance quality of healthcare. For instance, in 2011, the Bill & Melinda Gates Foundation granted US$ 31 million fund for innovation in point-of-care diagnostics (POCD) in the emerging economies, where the burden of disease is significant. This initiative aims to introduce novel diagnostic tools for rapid disease diagnosis, thereby reducing disability and transmission of infections in resource-poor communities. Furthermore, Center for Point-of-Care Diagnostics for Global Health managed by PATH, developed by National Institute of Biomedical Imaging and Bioengineering are focusing on improving access to POC diagnostic tests in low-resource settings, globally. In addition, according to the survey by NIBIB, around 100,000 new cases of parasitic diseases occur every year in Latin America, where majority of the people in remote areas remain undiagnosed. PATH developed a low-cost diagnostic strip test for Chagas which costs less than US$ 2, and provides an immediate diagnosis overcoming the problem of transporting samples to remote laboratories and aids people in receiving appropriate treatment.
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Technological advancements by key players coupled with regulatory approvals for products are expected to fuel growth of the POC platform & technology market.
Moreover, manufacturers are focusing on developing innovative POC flu tests for efficient diagnosis, as the antiviral medications are only effective, when consumed within 48 hours of symptom onset. According to the World Health Organization (WHO), around three to five million cases of severe illness due to influenza is estimated to occur annually and 250,000 to 500,000 deaths are caused each year due to influenza. In February 2018, Mesa Biotech Inc. received the FDA 510 (k) clearance and Clinical Laboratory Improvements Amendments (CLIA) waiver for its Accula Flu A / Flu B test with PCR testing to the POC, which offers a qualitative result in around 30 minutes to guide same day treatment decisions. The manufacturers and researchers are also focused on developing advanced systems such as real-time biosensors to provide instant insights about health status, thereby providing significant opportunities for improving personalized care. For instance, in 2016, VitalConnect, Inc. launched FDA approved Vital Connect platform to achieve better health and economic outcome. The platform includes HealthPatch MD biosensor and single-use VitalPatch biosensor. Furthermore, in October 2017, researchers from the University of Illinois at Urbana-Champaign and the University of Washington at Tacoma developed a lab-on-chip device, which offers easy detection of infectious diseases by connecting the chip to the smartphone, which acts as a detector.
Browse 46 Market Data Tables and 38 Figures spread through 201 Pages and in-depth TOC on “POC Platform & Technology Market”- Global Forecast to 2025, by Technology (Lateral Flow-based Assays, Enzyme Label, Microfluidics, Biochips, Biosensors, and Others), by Application (Diagnostic and Monitoring, Drug Development, and Quality Testing), by End User (Hospitals, Clinics, Laboratories, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the POC platform & technology market, click the link below: https://www.coherentmarketinsights.com/press-release/poc-platform-technology-market-to-surpass-us-454-billion-by-2025-831
Market players are focusing on collaborating with international overseas players to bring about creative innovation in point-of-care testing and to expand their presence in diagnostics, in the global market, which is expected to drive the market growth over the forecast period. For instance, in January 2018, Atomo Diagnostics, an Australia-based company entered into a collaboration with Access Bio that focuses to enhance point-of-care HIV diagnostics by leveraging each other’s rapid diagnostic testing technologies. Similarly, in March 2015, the company entered into collaboration with Helvoet, in order to offer enhanced injection molded microfluidic parts, as they are steadily gaining popularity in the health care market, majorly in point-of-care diagnostics. Furthermore, Abbott Laboratories acquired Alere Inc., in 2016, which is a manufacturer of rapid point-of-care diagnostic tests. Under this acquisition, Abbott Laboratories added test products for influenza, heart attacks, and drug abuse for testing genetic mutations and to fuel diagnostics sales of the company.
Key Takeaways of the POC Platform & Technology Market:
- The global POC platform & technology market is expected to exhibit a CAGR of 8.9% over the forecast period, owing to increasing research and development by private research organizations for diagnosis of diseases, biomarker validation, and drug discovery in regions such as North America, Asia Pacific, and Europe
- On the basis of technology, biosensors segment is expected to hold a dominant position in the POC platform & technology market over the forecast period. This is attributed to sensitive and rapid detection of target analytes, which is vital in medical diagnosis of diseases whilst providing a cost effective option to the patient
- On the basis of application, diagnostic and monitoring segment is expected to hold a dominant position in the POC platform & technology market over the forecast period. This is attributed to rising adoption of novel diagnostic platforms for detecting various infectious and chronic diseases for early intervention in resource constrain settings
Key players operating in the global POC platform & technology market include Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories, Siemens Healthineers, and LifeScan, Inc.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Evolution of POC Diagnostics
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Impacting Factors
- Key Highlights
- Benefits of POC Testing Systems
- Regulatory Scenario
- Reimbursement Scenario
- PEST Analysis
- Porter’s Analysis
- Global and Regional Epidemiology
- Global POC Platform & Technology Market, By Technology, 2015–2025, (US$ Million)
- Introduction
- Market Share Analysis, 2015 and 2025 (%)
- Y-o-Y Growth Analysis, 2016–2025
- Segment Trends
- Lateral Flow Based Assays
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Segment Trends
- Colloidal Gold Label
- Colored Latex Particle Label
- Paramagnetic Monodisperse Latexes
- Fluorescence Immunoassay
- Traditional Fluorescence Immunoassay
- Time Resolve Fluorescence Immunoassay
- Upconverting Nanoparticles Immunoassay
- Quantum Dot Immunoassay
- Enzyme Labels
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Microfluidics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Biochips
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Biosensors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Medical MEMS
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Agglutination
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Solid Phase
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Lab-on-a-chip
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Chemiluminescence Based Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Introduction
- Global POC Platform & Technology Market, By Application, 2015–2025, (US$ Million)
- Introduction
- Market Share Analysis, 2015 and 2025 (%)
- Y-o-Y Growth Analysis, 2016–2025
- Segment Trends
- Diagnostic and Monitoring
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Drug Development and Quality Testing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Introduction
- Global POC Platform & Technology Market, By End User, 2015–2025, (US$ Million)
- Introduction
- Market Share Analysis, 2015 and 2025 (%)
- Y-o-Y Growth Analysis, 2016–2025
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Laboratories
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Home Care Settings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2015–2025, (US$ Million)
- Introduction
- Global POC Platform & Technology Market, By Region, 2015–2025, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2015 and 2025 (%)
- Y-o-Y Growth Analysis, For Regions, 2016–2025
- North America
- Market Size and Forecast, By Technology, 2015–2025, (US$ Million)
- Market Size and Forecast, By Application, 2015–2025, (US$ Million)
- Market Size and Forecast, By End User, 2015–2025, (US$ Million)
- Market Size and Forecast, By Country, 2015–2025, (US$ Million)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Technology, 2015–2025, (US$ Million)
- Market Size and Forecast, By Application, 2015–2025, (US$ Million)
- Market Size and Forecast, By End User, 2015–2025, (US$ Million)
- Market Size and Forecast, By Country, 2015–2025, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Technology, 2015–2025, (US$ Million)
- Market Size and Forecast, By Application, 2015–2025, (US$ Million)
- Market Size and Forecast, By End User, 2015–2025, (US$ Million)
- Market Size and Forecast, By Country, 2015–2025, (US$ Million)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Technology, 2015–2025, (US$ Million)
- Market Size and Forecast, By Application, 2015–2025, (US$ Million)
- Market Size and Forecast, By End User, 2015–2025, (US$ Million)
- Market Size and Forecast, By Country, 2015–2025, (US$ Million)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
- Middle East
- Market Size and Forecast, By Technology, 2015–2025, (US$ Million)
- Market Size and Forecast, By Application, 2015–2025, (US$ Million)
- Market Size and Forecast, By End User, 2015–2025, (US$ Million)
- Market Size and Forecast, By Country, 2015–2025, (US$ Million)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Technology, 2015–2025, (US$ Million)
- Market Size and Forecast, By Application, 2015–2025, (US$ Million)
- Market Size and Forecast, By End User, 2015–2025, (US$ Million)
- Market Size and Forecast, By Country, 2015–2025, (US$ Million)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3×3 Matrix)
- Company Profiles
- Advanced Liquid Logic, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Agilent Technologies
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Axxicon Moulds Eindhoven B.V.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Lifesensors, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Abbott Laboratories
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Seimens Healthineers
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- LifeScan, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Advanced Liquid Logic, Inc.
- Analyst Views
- Section
- References
- Research Methodology
- About Us and Sales Contact.
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