Dublin, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The "Asia Pacific Point Of Care Diagnostics Market Size, Share & Trends Analysis Report By Product (Infectious Diseases, Glucose Testing, Cardiac Markers), By End-use (Clinics, Home, Hospitals), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific point of care diagnostics market is on the brink of a significant expansion, with projections estimating its growth to reach USD 15.61 billion by 2030, progressing at a compound annual growth rate (CAGR) of 8.1%. This surge is primarily driven by the increasing geriatric population and the growing demand for immediate diagnostic results that enhance patient care.
Key Market Drivers:
- Integration of Advanced Systems: The market's growth trajectory is bolstered by the rising adoption of Picture Archiving and Communication Systems (PACS) and Electronic Medical Records (EMR), streamlining diagnostic processes and patient management.
- Addressing Staff Shortages: The scarcity of skilled professionals, particularly in diagnostics, is fast-tracking the market penetration of point of care products. This is leading to greater lab automation, offering more efficient and quicker diagnostic solutions.
- Home Healthcare and Elderly Care: The expanding demand for home healthcare services and the focus on catering to the elderly population are pivotal factors in this market growth. Governments are also taking initiatives to reduce hospital stays by promoting outpatient care models, further stimulating the market.
- Decentralization in Healthcare: The growing use of point of care diagnostic products is fostering a decentralization trend in healthcare. This shift facilitates remote healthcare delivery, promotes early diagnosis, and helps in cost management, thereby driving the establishment of remote and standalone diagnostic facilities.
Segment Highlights:
- Infectious Diseases Dominance: In 2022, the infectious diseases segment led the market with the highest revenue share. This dominance is attributed to the increasing substitution of traditional laboratory testing with point of care diagnostics in infectious disease applications.
- Cancer Markers Segment on the Rise: With the Asia Pacific region witnessing a notable increase in cancer prevalence, the cancer markers segment is expected to grow at the fastest CAGR from 2023 to 2030.
- Clinics as Major End-users: Clinics, particularly in remote and underserved areas, held over 35% of the revenue share in 2022, underlining their critical role in healthcare service provision.
- China's Market Leadership: With a revenue share exceeding 40% in 2022, China leads the Asia Pacific PoC diagnostics market. The country's large population and the prevalent chronic and infectious diseases are key drivers of this demand.
Companies mentioned in the report include:
- Wipro
- ZOE Limited
- Vocalis Health
- DarwinAI
- Biocogniv Inc.
- Laipac Technology Inc.
- Gauss Surgical, Inc.
- Oxford Immune Algorithmics Ltd
- F. Hoffmann-La Roche Ltd.
- QIAGEN
- Danaher
- Beckman Coulter, Inc.
- Radiometer Medical ApS
- HemoCue AB
- BD (Becton, Dickinson, and Company)
- BIOMERIEUX
- Abbott
- Siemens Healthcare GmbH
- Zoetis Services LLC
- Abaxis
- Instrumentation Laboratory Company
- Nova Biomedical
- Trividia Health, Inc.
- Quidel Corporation
- Trinity Biotech
- SEKISUI Diagnostics
- Orasure Technologies, Inc.
- Nipro Europe Group Companies
- Spectral Medical Inc.
For more information about this report visit https://www.researchandmarkets.com/r/u4i5bu
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