Point of Care Diagnostics Market - Insights and In Depth Analysis of Industry Segments and Key Players

Growth Factors Driving the Market: The Point of Care Diagnostics Market growth is mainly driven by the high prevalence of infectious diseases, supportive government policies and rising number of CLIA-waived POC tests. In addition, healthcare decentralization and greater investments and funding for product development are expected to offer growth opportunities for players in the point of care diagnostics market. However, issues related to pricing pressure owing to reimbursement cuts and budget constraints are expected to hinder the growth of the point of care diagnostics market during the forecast period.

MarketsandMarkets™ View on Revenue: The global point of care and rapid diagnostics market is expected to reach USD 72.0 billion by 2027 from an estimated USD 43.2 billion in 2022, at a CAGR of 10.8% from 2022 to 2027.

Industry Segmentation in Detailed:

The Glucose Monitoring Products segment accounted for the largest share of the point of care diagnostics market.

Based on products, the point-of-care diagnostics market is segmented into glucose monitoring products, cardiometabolic monitoring products, COVID-19 testing products, infectious disease testing products, coagulation monitoring products, pregnancy & fertility testing products, hematology testing products, tumor/cancer marker testing products, fecal occult testing products, urinalysis testing products, drug-of-abuse testing products, cholesterol testing products, and other products. In 2021, the glucose monitoring products segment accounted for the largest share of the point-of-care diagnostics market. This can be attributed to the growing diabetic patient population base, ongoing technological advancements, and the growing preference for home glucose testing.

The Lateral Flow Assays segment accounted for the largest share of the poc diagnostics market.

Based on platform, the point-of-care diagnostics market is segmented into lateral flow assays, immunoassays, microfluidics, dipsticks, and molecular diagnostics. The lateral flow assays segment accounted for the largest share of the market in 2021. The widespread adoption of lateral flow assays in POC testing as a replacement for lengthy, conventional laboratory procedures is a key factor contributing to the growth of this segment.

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Leading Key Players Analysis:

Prominent players in the point-of-care diagnostics market include Abbott Laboratories (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Becton, Dickinson and Company (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland), Instrumentation Laboratory (a Werfen Company) (US), Nova Biomedical (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Thermo Fisher Scientific (US), and bioMérieux S.A. (France)

Geographical Trends in Detailed:

The global point of care diagnostics market is segmented into North America (comprising the US and Canada), Europe (includes Germany, France, and the UK), the Asia Pacific (includes Japan, China, India), Latin America (Brazil, Mexico), and the Middle East & Africa. In 2021, North America accounted for the largest share of this market, followed by Europe. The rising prevalence of lifestyle diseases, growing number of product approvals, and government initiatives to support the wider adoption of POC testing products are the key factors driving the growth of the North American point-of-care diagnostics market.

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Global Lateral Flow Assays Market Competitive Landscape, and CAGR Status

Growth Factors Driving the Market: The high prevalence of infectious diseases worldwide, rapid growth in the geriatric population, growing demand for point-of-care testing, and rising use of home-based lateral flow assay devices are the major factors driving the growth of this market. On the other hand, reluctance among doctors and patients to change existing diagnostic procedures and the low accuracy of lateral flow assays are the key restraints.

The high prevalence of infectious diseases, such as HIV and malaria, coupled with the underdeveloped healthcare infrastructural facilities and increasing public awareness in developing countries, is expected to drive the adoption of lateral flow assay tests in these countries. In addition, recent outbreaks of infectious diseases from the spread of viruses (such as Ebola, H1N1, and Zika) have highlighted the need for early disease detection capabilities, which is also expected to drive market growth. The current COVID-19 pandemic has resulted in high demand for rapid diagnostic testing through lateral flow technology, supporting the growth of this market in the coming year.

MarketsandMarkets™ View on Revenue: The global lateral flow assays market is projected to reach USD 12.6 billion by 2026, at a CAGR of 2.0% during the forecast period.

Industry Segmentation in Detailed:

The Rising demand for lateral flow assays in the food & beverage industry;

Food safety issues and concerns for public health have led to the implementation of more stringent legislation for food safety in several countries. This resulted in an increased demand for pathogen and toxin tests in just about every segment of the food production industry—processed foods, meats, poultry, beverages, and dairy—and among all major food producers worldwide.

Earlier, most food safety tests were performed using lab-based traditional microbiology techniques, but rapid, on-the-spot tests have seen growing use in this area. These tests are used primarily for testing raw materials, interim products in the manufacturing process, and final products for bacteria such as Listeria, Salmonella, and E. coli. In August 2020, PerkinElmer launched a COVID-19 environmental surface testing kit to detect the virus in food processors. Furthermore, the food industry has also shown a demand for tests capable of detecting mycotoxins and allergens—such as RIDA QUICK rapid tests from R-Biopharm. Merck KGaA (Germany) provides Singlepath L’mono for detecting Listeria monocytogenes; Singlepath Salmonella for salmonella, and Singlepath Campylobacter for Campylobacter in foods.

“Kits & Reagents segment accounted for the largest share in the lateral flow assays market.”

The lateral flow assays market is segmented into kits & reagents and lateral flow readers. In 2020, kits & reagents accounted for the larger share of the global lateral flow assays market. The large share of this segment can be attributed to the increasing application of lateral flow kits & reagents for POC testing, during the forecast period.

 

 

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Leading Key Players Analysis:

The prominent players in the global lateral flow assays market include Abbott Laboratories (US), Quidel Corporation (US), F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), Siemens AG (Germany), BD (US), bioMérieux SA (France), Bio-Rad Laboratories (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc. (US), Hologic Inc. (US), QIAGEN N.V. (Netherlands), and Merck KGaA (Germany).

Geographical Trends in Detailed:

The North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the lateral flow assays market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. However, the APAC is expected to grow at the highest CAGR during the forecast period. The rapidly developing healthcare industry in China and India, growth in the aging population reasons for high growth rate in the lateral flow assays market in this region.

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Breast Reconstruction Market - Growth and key Industry Players Analysis 2021 and Forecast

Growth Factors Driving the Market: The emergence of 3D-printed implants can provide significant opportunities for market growth. German companies, BellaSeno and Evonik, have entered into a collaboration to develop 3D breast implant technology. BellaSeno will use Evonik’s Resomer bioresorbable polymer in its Senella breast scaffolds, avoiding the use of silicone implants that have raised major safety concerns.

BellaSeno planned to start the first human clinical trials of the Senella scaffolds with Resomer in Germany in 2019. Evonik has supplied its Resomer polymer for clinical and commercial use. The scaffolds are designed to guide the growth of the natural tissue using the patient's body fat harvested via liposuction. This product is designed to be used after augmentation, reconstruction, and revision surgery. This is progressively reabsorbed by the body and replaced with natural breast tissue. This technology avoids the use of silicone implants and their associated complications & risk, like capsular contracture, rupture, and deflation. Moreover, in December 2021, Bellaseno GmbH reported the publication of first-in-human data for its 3D-printed biodegradable and highly porous Senella scaffold filled with an autologous fat graft to correct a chest deformation in a 22-year-old patient with severe pectus excavatum. The article was published in the European Journal of Plastic Surgery.

MarketsandMarkets™ View on Revenue: The global breast reconstruction market size is expected to grow from USD 647 million by 2026 to USD 567 million in 2021, at a CAGR of 2.7%.

Industry Segmentation in Detailed:

"Breast implants accounted for the largest share of the breast reconstruction market"

Based on the product, the breast reconstruction market is segmented into breast implants, tissue expanders, and acellular dermal matrix. The breast implants segment accounted for the largest market share in 2020.

"The immediate procedures segment accounted for the largest market share in 2020."

Based on the procedure, the breast reconstruction market is segmented into immediate, delayed, and revision procedures. The immediate procedures segment accounted for the largest market share in 2020. This is primarily attributed to the increasing number of surgeries post-mastectomy and rising awareness.

"The unilateral segment accounted for the largest market share in 2020."

Based on type, the breast reconstruction market is segmented into unilateral and bilateral. The unilateral segment accounted for the largest market share in 2020. The increasing incidence of breast cancer and rising awareness are major factors responsible for the dominant share of this segment.

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Leading Key Players Analysis:

The prominent players operating in this market include Mentor Worldwide LLC (Johnson & Johnson) (US), are Allergan Aesthetics (an Abbvie company) (US), Ideal Implant Incorporated (US), Sebbin (France), GC Aesthetics (Ireland), POLYTECH Health & Aesthetics (Germany), Sientra (US), Integra Lifesciences (US), RTI Surgical Holdings (US), Establishment Labs S.A. (US), Silimed (Brazil), Laboratories Arion (France), and other players are Guangzhou Wanhe Plastic Materials Co. Ltd.(China), CEREPLAS (France), HansBiomed (South Korea), PMT Corporation (US), and Shanghai Kangning Medical Device (China)

Mentor Worldwide LLC (Johnson & Johnson) (US) is one of the leading players in the breast reconstruction market. The company offers a broad product portfolio across the globe. Over the years, the company has maintained its leading position in the breast reconstruction market.

Geographical Trends in Detailed:

North America was the largest regional market for breast reconstruction in 2020;

The breast reconstruction market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2020, North America held the largest share of the market, followed by Europe. The rising incidences of breast cancer, increasing awareness of breast reconstruction, and FDA approvals for breast reconstruction products in this region are the major factors driving the growth of the breast reconstruction in North America.

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