Northbrook, IL -- (SBWire) -- 12/16/2021 --According to the new market research report "ASEAN and North Asian Point of Care/Rapid Diagnostics Market by Product (Glucose Monitoring, COVID, HIV, STDs, HAIs, Influenza, Tropical & Respiratory diseases), Technique (Rapid test, Molecular diagnostics), User (Hospital, Home Care) - Forecast to 2026", published by MarketsandMarkets™, the ASEAN and North Asian Point of Care 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%.
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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.
Infectious Disease Diagnostics are the largest product segment in the ASEAN and North Asian Point of Care/Rapid Diagnostics market
Based on product, the ASEAN and North Asian Point of Care/Rapid Diagnostics market is segmented into Infectious Disease Diagnostics, Glucose Monitoring, Cancer Marker Testing, Cardiometabolic Monitoring, Cholesterol Testing, Coagulation Monitoring, Hematology Testing, Urinalysis, Drugs-of-abuse Testing, Pregnancy & Fertility Testing, Fecal Occult Testing and other PoC Diagnostic products. Infectious diseases are expected to account for the largest share of the ASEAN and North Asian Point of Care/Rapid Diagnostics market in 2021. Infectious disease diagnostics dominates the ASEAN and North Asian Point of Care/Rapid Diagnostics market owing to greater patient population and extensive market availability.
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Molecular Diagnostics is estimated to be having the highest demand in the technology segment in the ASEAN and North Asian Point of Care/Rapid Diagnostics market.
On the basis of technology, the ASEAN and North Asian Point of Care/Rapid Diagnostics market is segmented into Lateral Flow Assays, Immunoassays, Molecular Diagnostics, Microfluidics, Rapid Testing and Dipsticks. Molecular diagnostic technologies are projected to experience higher demand owing to supportive regulations, techno-commercial advantages, and rising public awareness.
South Korea, Hong Kong, and Taiwan are among the top ASEAN countries to dominate the Point of Care diagnostics market.
The high growth in this regional market is majorly attributed to factors such as the growing demand for accurate and early diagnostic methodologies.
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The major players operating in the ASEAN and North Asian Point of Care/Rapid Diagnostics market are Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Abbott Laboratories (US), Danaher Corporation (US), Becton, Dickinson and Company (US), Sysmex (Japan), Cardinal Health (US), Quidel (US), GE Healthcare (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) and Bio-Techne (US).
ASEAN and North Asian Point of Care/Rapid Diagnostics Market Worth $3.9 Billion by 2026 - Exclusive Report by MarketsandMarkets™
In 2021, Siemens acquired Fast Track Diagnostics (Luxembourg). This acquisition is to integrate Fast Track’s offerings into Siemens’ portfolio, thus expanding its molecular diagnostics business.