Infectious Disease Point-of-care Diagnostics Market 2023 Size, Share, Revenue Trends and Growth Drivers
The Infectious Disease Point-of-care Diagnostics Market 2023 Size Forecast to 2030 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
The global infectious disease point-of-care diagnostics market size was USD 1.12 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with infectious disease point of care diagnostics witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of -10.2% in 2020. The market is projected to grow from USD 1.3 billion in 2021 to USD 3.96 billion in 2028 at a CAGR of 17.2% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. Infectious Disease Point-of-care (POC) Diagnostics Market Size, Share & COVID-19 Impact Analysis, By Technique (Lateral Flow Immunoassay, Agglutination Test), By Disease (HIV, Hepatitis B Virus, Respiratory Syncytial Virus, Influenza, Clostridium Difficile Infections), By Disease, COVID-19 Point-of-care (POC) Diagnostics, By End User (Hospital Bedside, Physicians Office Lab, Urgent Care & Retail Clinics), Regional Forecast, 2021-2028
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Market Growth Drivers:
Globally, the increasing prevalence of HIV/Influenza/RSV, etc., leads to an increase in the rate of diagnosis of patients. For instance, according to the United Nations Program on HIV/AIDS (UNAIDS), in 2019, approximately 38 million people were diagnosed with HIV/AIDS. Furthermore, according to another report published by the World Health Organization (WHO), in the year 2018, around 10 million people were affected by tuberculosis worldwide. Thus, the growing infection rate of the various diseases globally will lead to an increase in the uptake of infectious disease point of care products for its diagnosis and subsequently aid the growth of the market during the forecast period.
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Who are the Major Infectious Disease Point-of-care Diagnostics Market Vendors?
- F. Hoffmann-La Roche Ltd(Basel, Switzerland)
- Thermo Fisher Scientific Inc. (Massachusetts, U.S.)
- Abbott Laboratories (Illinois, U.S)
- Quest Diagnostics Incorporated (New Jersey, United States)
- BD (Franklin Lakes, U.S)
- bioMrieux SA (Marcy l’Etoile, France)
- Cardinal Health, Inc.(Ohio, U.S)
- Mesa Biotech (California, U.S)
- Cepheid (California, U.S)
- Trinity Biotech (Bray, Ireland)
- Quidel Corporation (San Diego, U.S.)
- Bio-Rad Laboratories Inc. (California, U.S)
- Other Players
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period [2022 – 2029].
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