This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the point of care diagnostics market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the point of care diagnostics market. The primary sources from the demand side include hospitals, clinical laboratories, pharmacies, ecommerce platforms, physician’s office, among others. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2022, Tier 1 = >USD 10.00 billion, Tier 2 = USD 1.00 billion to USD 10.00 billion, and Tier 3 = <USD 1.00 billion.
*C-level primaries include CEOs, CFOs, COOs, and VPs.
**Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue; as of 2021, Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion.
Source: MarketsandMarkets Analysis
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Market Estimation Methodology:
For the global market value, annual revenues were calculated based on the revenue mapping of major product manufacturers and OEMs active in the global point of care diagnostics market. All the major product manufacturers were identified at the global and/or country/regional level. Revenue mapping for the respective business segments/sub-segments was done for the major players (who contribute at least 85–90% of the market share at the global level). Also, the global point of care diagnostics market was split into various segments and sub-segments based on:
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list of major players operating in the point-of-care market at the regional and/or country level
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Product mapping of various manufacturers for point-of-care diagnostics products at the regional and/or country level
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Mapping of annual revenue generated by listed major players from point-of-care diagnostics segments (or the nearest reported business unit/product category)
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Revenue mapping of major players to cover at least 65–75% of the global market share as of 2022
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Extrapolation of the revenue mapping of the listed major players to derive the global market value of the respective segments/subsegments
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Summation of the market value of all segments/subsegments to arrive at the global point-of-care diagnostics market
The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
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Data Triangulation:
After deriving the overall Point of care diagnostics market value data from the market size estimation process, the total market value data was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various qualitative and quantitative variables as well as by analyzing regional trends for both the demand- and supply-side macro indicators.
Market Definition:
Point of care testing includes conducting diagnostic tests near the patient, offering immediate results enabling helathacare providers to expedite the clinical decisions. Point of care devices are best suited for various healthcare settings, including clinical laboratories , hospitals, physician offices, ambulances, and at homes, emergency rooms
Key Market Stakeholders:
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Point-of-care Diagnostic Product Manufacturers
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Distributors, Channel Partners, and Third-party Suppliers
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Clinical Laboratories, Reference Laboratories, and Contract Testing Laboratories
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Hospitals, Diagnostic Clinics, and Sports/Military Facilities
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Contract Manufacturing Organizations (CMOs)
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Contract Research Organizations (CROs)
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R&D Companies
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Business Research and Consulting Service Providers
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Medical Research Laboratories
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Academic Medical Centers, Universities, and Hospitals
Report Objectives:
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To define, describe, and forecast the point-of-care diagnostics market by Product, Platform, Mode of Purchase, Sample, End User, and Region
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To provide detailed information about major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges)
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To analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the overall point-of-care and rapid diagnostics market
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To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
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To forecast the market value of various segments and sub-segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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To profile the key players active in the point of care diagnostics market and comprehensively analyze their global revenue shares and core competencies
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To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the point-of-care diagnostics market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the present global point of care diagnostics market report:
Product Analysis:
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Product matrix, which gives a detailed comparison of the product portfolios of the top fifteen companies
Company Information:
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Detailed analysis and profiling of additional market players (up to 15)
Geographic Analysis:
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Further breakdown of the Rest of Europe's point of care diagnostics market into Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal, among other
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Further breakdown of the Rest of Asia Pacific point of care diagnostics market into Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries.
Growth opportunities and latent adjacency in Point of Care Diagnostics Market