The ASEAN and North Asian Point of Care/Rapid Diagnostics 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.
A few major players that have an extensive geographic presence dominate the ASEAN and North Asian Point of Care/ Rapid Diagnostics industry. The leading players in the ASEAN and North Asian Point of Care/Rapid Diagnostics market include 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).
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The key growth strategies adopted by the top players in the market are product launches and approvals, mainly owing to the COVID-19 pandemic.
Roche Diagnostics is one of the leading players in the POC testing market. The company has sustained its leading position through product launches and strategic acquisitions. It offers clinical decision support solutions & automated tools to support the usage of their diagnostic platforms. Over the last few years, the company has made strategic acquisitions (such as the acquisition of Flatiron Health(US)), and partnerships (such as Sysmex (Japan)) to strengthen its presence in the ASEAN and North Asian Point of Care/Rapid Diagnostics market. The company has a strong presence in EMEA, North America, Asia Pacific, Latin America and Japan.
With a robust product portfolio, Siemens Healthineers holds a strong position in the POC diagnostics market. The company has a broad range of testing products, including coagulation, molecular, urinalysis, and blood gas testing. The company is strongly focused on expanding its services business to ensure market dominance. The company observes extensive collaborations with local partners and research organizations to stay apace with technological advancements. The company has strong partnerships with ~90 of the top 100 healthcare providers worldwide.
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
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