Asia Pacific Point of Care Diagnostics Market Insights Forecasts to 2033

• The Asia Pacific Point of Care Diagnostics Market Size was valued at USD 9.30 Billion in 2023.
• The Market Size is Growing at a CAGR of 8.37% from 2023 to 2033
• The Asia Pacific Point of Care Diagnostics Market Size is Expected to Reach USD 20.77 Billion by 2033

The Asia Pacific Point of Care Diagnostics Market Size is Anticipated to Reach USD 20.77 Billion by 2033, Growing at a CAGR of 8.37% from 2023 to 2033

Market Overview

Healthcare diagnostic testing done at the patient's location or nearby, as opposed to at a conventional laboratory, is known as point-of-care (POC) diagnostics. POC diagnostics' primary benefit is their capacity to produce results quickly often in a matter of minutes which allows medical professionals to decide on a course of therapy or make suggestions right away based on test results. Patients are undergoing POC testing procedures at an increasing rate due to the rising prevalence of conditions like infectious diseases, diabetes, heart disorders, and others, and the benefits associated with these procedures, like efficiency and the ability to produce results quickly. These factors are driving the growth of point of care diagnostics market. The primary factors driving the market include the aging population, the emergence of target diseases, the need for at-home healthcare, and the introduction of new products with technical benefits.        

Report Coverage

This research report categorizes the market for the Asia Pacific point of care diagnostics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Asia Pacific point of care diagnostics market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Asia Pacific point of care diagnostics market.

Driving Factors

The market growth is anticipated to be driven by the rising prevalence of target illnesses such as diabetes, cancer, heart disease, and infectious diseases. The high rate of medical needs related to this disease and the consequent increase in patient awareness that is being found across Asia Pacific is anticipated to drive up demand for the point of care (POC) diagnostics market. The rising incidence of chronic illnesses, advancements in point-of-care testing, and a shortage of trained laboratory technicians are propelling this market expansion. The demand for point-of-care diagnostics is being driven by doctors' tendency to use point-of-care techniques and procedures.

Restraining Factors

The pricing pressure brought on by variations in reimbursements restricts the market growth. Further, the market's expansion is restricted by a lack of knowledge about the use of PoC devices. There are certain limitations, like the low accuracy of test results obtained with POC kits and devices which are restraining the market. 

Market Segmentation

The Asia Pacific point of care diagnostics market share is classified into product type and end user.

• The glucose testing segment is expected to hold the largest market share through the forecast period.

The Asia Pacific point of care diagnostics market is segmented by product into glucose testing, Hb1Ac testing, coagulation, fertility/pregnancy, and infectious disease. Among these, the glucose testing segment is expected to hold the largest market share through the forecast period. Glucose testing is commonly used among diabetes patients in Asian nations. The number of cases of diabetes is rising around the region due to several other causes, including fast urbanization, changing lifestyles, and dietary choices. The need for precise, easy-to-use glucose tracking devices has increased as a consequence.   

• The clinics segment is expected to dominate the Asia Pacific point of care diagnostics market during the forecast period.       

Based on the end user, the Asia Pacific point of care diagnostics market is divided into clinics, hospitals, home assisted living healthcare facilities, and laboratories. Among these, the clinics segment is expected to dominate the Asia Pacific Point of Care Diagnostics Market during the forecast period. To provide healthcare services, especially in rural and underdeveloped areas, clinics are important. Clinics can provide immediate testing and diagnosis without requiring laboratory samples due to point-of-care diagnostics.     

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Asia Pacific point of care diagnostics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Qiagen
• F. Hoffmann-La Roche Ltd.
• Siemens Healthcare GmbH
• Becton Dickinson (BD)
• bioMérieux
• Abbott
• Nova Biomedical
• SEKISUI MEDICAL CO., LTD.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, Qiagen launched Qiagen Biomedical KB-AI to accelerate drug discovery in the biotech and pharmaceutical sectors. Data scientists can use this breakthrough to obtain the most comprehensive knowledge to support data-driven drug discovery.

Market Segment

This study forecasts revenue at Asia Pacific, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Asia Pacific point of care diagnostics market based on the below-mentioned segments:

Asia Pacific Point of Care Diagnostics Market, By Product

• Glucose Testing
• Hb1Ac Testing
• Coagulation
• Fertility/Pregnancy
• Infectious Disease

Asia Pacific Point of Care Diagnostics Market, By End User

• Clinics
• Hospitals
• Home Assisted Living Healthcare Facilities
• Laboratory