Primary Care POC Diagnostics Market size is estimated to reach $8.9 billion by 2026, growing at a CAGR of 3.5% during the forecast period 2021-2026. Point-of-Care (POC) Diagnostics allows physicians to accurately achieve real-time and quality diagnostic results within minutes rather than hours. POC diagnostics at primary care is essential for the rapid detection of analytes to the patient that facilitates better disease monitoring and management. These diagnostics ensure the patients receive the most efficient care and enable staff to make rapid treatment decisions. Rise in the adoption of self-glucose testing devices in developed nations to control glycemic levels regularly, growing demand for lateral flow assays owing to its low cost and user-friendliness, and increasing demand for coagulation testing at physician’s office are the factors that are set to drive the growth of the Primary Care POC Diagnostics Market for the period 2021-2026.
Primary Care POC Diagnostics Market Segment Analysis-By Product Type
The Primary Care POC Diagnostics Market based on the Product Type can be further segmented into Glucose Testing, Hb1Ac Testing, Coagulation Testing, Fertility Testing, Thyroid Testing, Hematology Testing, Lipid Testing, and Others. The Glucose Testing segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 4.8% over the period 2021-2026. This growth is owing to the factors such as the growing adoption of glucose testing to determine glucose levels in hospitalized patients and facilitate rapid treatment decisions in response to fluctuations in glycemia and increasing demand of glucometers to inform the doctor about the working of a medication regime. The rise in the adoption of self-glucose testing devices in developed nations to control glycemic levels regularly is driving the growth of the Primary Care POC Diagnostics Market. The Lipid Testing held the second largest share in 2020 owing to the factors such as the rise in the prevalence of target diseases such as cardiovascular diseases and dyslipidemia and growing favorable regulatory initiatives by the governments pertaining to diagnosis.
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Primary Care POC Diagnostics Market Segment Analysis-By End user
The Primary Care POC Diagnostics Market based on the End User can be further segmented into the Pharmacy and Retail Clinics, Physician Office, Urgent Care Clinics, and Others. The Physician Office segment held the largest share in 2020 owing to the factors such as increasing demand for lateral flow assays in developed nations and rise in the consumer inclination towards stress-free and less time-consuming tests. The growing demand for coagulation testing at the physician’s office is driving the growth of the Primary Care POC Diagnostics Market. The Pharmacy and Retail Clinics segment is estimated to be the fastest growing segment with a CAGR of 4.5% over the period 2021-2026. This growth is owing to the factors such as the growing number of patients undergoing testing for chronic diseases at pharmacies and the rise in the availability of POC testing at pharmacies and retail clinics.
Primary Care POC Diagnostics Market Segment Analysis-By Geography
North America held the largest share with 33% of the overall market in 2020. The growth in this segment is owing to the factors such as the growing adoption of self-glucose testing devices in developed nations to control glycemic levels regularly and the rise in the demand for POC technologies from the pharmacy and retail clinics. The increasing demand for coagulation testing at the physician’s office is driving the growth of the Primary Care POC Diagnostics Market. Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as growing demand for lateral flow assays laboratories for the qualitative and quantitative detection of specific antibodies and an increase in the efforts by the key players for the advancement of POC products at primary care.
Primary Care POC Diagnostics Market Drivers
Increase in the Demand for Lateral Flow Assays
Lateral flow assays are increasingly being used in physician's offices and clinical laboratories for the qualitative and quantitative detection of specific antibodies and also for products of gene amplification. Lateral flow assays have emerged as a well-established platform for primary care point-of-care (POC) testing owing to its low cost and user-friendliness, which is one of the major factors driving the growth of the Primary Care POC Diagnostics Market.
Rise in the Adoption of Glucose Testing in Primary Care POC Diagnostics
POC glucose testing has become a widely used tool to enable the determination of glucose levels in hospitalized patients and also to facilitate treatment decisions as a response to fluctuations in glycemia. POC glucose testing devices conveniently use whole blood measurements at the patient’s bedside and convert the results to plasma glucose concentrations, which is propelling the growth of the Primary Care POC Diagnostics Market.
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Primary Care POC Diagnostics Market Challenges
Stringent Government Regulations
The key players across the world are making continuous efforts for the advancement of POC products concerning their portability to ensure effective and unrestricted usage of POC devices at primary care levels. However, the stringent barriers faced by the key players owing to multi-layered regulations set by the Food and Drug Administration (FDA) is one of the major factors that is estimated to reduce the growth of the Primary Care POC Diagnostics Market.
Primary Care POC Diagnostics Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Primary Care POC Diagnostics Market. Key companies of this market are Roche Diagnostics, Danaher Corporation, Abbott Laboratories, Siemens Healthcare, BioMerieux, Quidel Corporation, BD Biosciences, Thermo Fisher Scientific, Agilent Technologies, and Qiagen among others.
Acquisitions/Product Launches:
In January 2021, Thermo Fisher Scientific has acquired point-of-care diagnostics provider Mesa Biotech for $450 million in cash to develop point-of-care testing devices for infectious diseases in the future and to accelerate the availability of accurate advanced diagnostics at the point of care.
In May 2020, Roche Diagnostics has launched Roche v-TAC that can be used in point of care (POC) that allows clinicians to obtain results for arterial blood gas values from patients with respiratory abnormalities with a less invasive venous puncture by using a digital algorithm.
In March 2020, Abbott Laboratories has launched a point-of-care test to be made available and provide rapid results in a wide range of healthcare settings such as physicians' offices and urgent care clinics and also to provide positive results in five minutes.
Key Takeaways
Geographically, North America Primary Care POC Diagnostics Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing adoption of self-glucose testing devices in developed nations to control glycemic levels regularly.
The growing demand for coagulation testing at the physician’s office is driving the Physician Office segment. However, the stringent barriers faced by the key players owing to multi-layered regulations set by the Food and Drug Administration (FDA) is one of the major factors that is said to reduce the growth of the Primary Care POC Diagnostics Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Primary Care POC Diagnostics Market report.
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