ASEAN and North Asian POC Market size is expected to grow from an estimated USD 2.0 billion in 2021 to USD 3.9 billion by 2026, at a CAGR of 13.0%. The growing demand for accurate and early diagnostic methodologies, modernization and expansion of healthcare infrastructure and significant disease prevalence are the major factors that are expected to drive the growth of the ASEAN and North Asian Point of Care/Rapid Diagnostics market during the forecast period. However, dearth of skilled healthcare providers and the high out-of-pocket healthcare expenditure are the key factors hindering the growth of this market.
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Key Market Players:
- Roche Diagnostics (Switzerland),
- Siemens Healthineers (Germany),
- Abbott Laboratories (US),
- Danaher Corporation (US),
- Becton, Dickinson and Company (US),
- Sysmex (Japan),
- Cardinal Health (US),
- Quidel (US),
- EKF Diagnostics (UK),
- bioMérieux SA (France),
- Accubiotech (China),
- PTS Diagnostics (US),
- Chembio Diagnostics (US)
- Trinity Biotech (Ireland),
- Johnson and Johnson(US),
- Sekisui Diagnostics (US),
- Nova Biomedical (US),
- Thermo Fisher Scientific (US),
- Ortho Clinical Diagnostics (US)
- Bio-Techne (US).
Driver: Evolving patient preferences and rapid modernization of healthcare services are poised to augment the PoC diagnostics market growth in target countries during next decade
Rapid rates of urbanization and development within the ASEAN and North Asian countries have boosted the overall healthcare environment. Moreover, approximately half of the SEA population lives in urban areas. The ASEAN region is expected to surpass the EU as the world’s second-largest med-tech market (after the US), and most customers will lie beyond the premium segment. Universal insurance schemes are covering more and more people, which will lead to favorable conditions for growth. In addition, ASEAN and North Asian point of care diagnostics are being adopted due to the growing demand for accurate and early diagnostic methodologies.
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Opportunities: Growth potential offered by emerging markets
Workflow automation and decentralization of diagnostic services offer significant revenue growth opportunities for PoC diagnostic vendors in the region during next decade. Emerging health tech has thrown the spotlight on four areas that set the forces of decentralization in motion. The four areas to watch are Decentralized healthcare at home, Decentralized healthcare at clinics, Insurance providers and HMOs shifting their orientation towards digital solutions, and Major players’ response to decentralization. More than half the labs in developed countries in Asia reported using automation systems, compared to only 28.7% in developing countries. Large labs, defined as those processing over 1,000 samples/day, had a relatively high rate of adoption compared to smaller labs. This suggests that automation of diagnostic workflows is a significant growth opportunity in the ASEAN and North Asian Point of Care/Rapid Diagnostics market.
This research report categorizes the ASEAN and North Asian Point of Care/Rapid Diagnostics market based on product, technology, end user, and country.
Based on the Product:
- Infectious Disease Diagnostics
- Influenza Testing
- Respiratory Infection Testing
- Tropical Disease Testing
- HIV Testing
- STD Testing
- Hepatitis C Testing
- HAI Testing
- COVID Testing
- Other Infectious Disease Testing
Other infectious disease testing products include hepatitis A and B testing products, liver testing products, and Ebola testing products
Other point-of-care products include multi-assay testing, disease-resistant bacteria testing, vitamin assay testing, and other testing products
Based on Technology:
- Lateral Flow Assays
- Immunoassays
- Molecular Diagnostics
- Microfluidics
- Rapid Testing
- Dipsticks
Report Link: ( ASEAN and North Asian POC Market )
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