Email
Print
Professional Diagnostics Market - Forecast(2024 - 2030)
Professional Diagnostics Market Overview
Professional Diagnostics Market size in 2020 is estimated to be $45 billion, growing at a CAGR of 6.3% during the forecast period 2021-2026. Professional diagnostic is the diagnostic method which are used for faster detection of various diseases such as tuberculosis, cancer, malaria, and others. The main purpose of professional diagnostics is to diagnose or monitor disease in early condition so that treatment can be started so that this diagnostic reduces the number of deaths. There are different products are used for diagnostics such as Clinical Microbiology, immunochemistry, Point of Care Test (POCT), hemotology and homeostasis. Increasing prevalence of chronic diseases such as cancer, malaria, and infectious diseases is major factor driving the growth of the market. Moreover, growing number of geriatric population further enhance the overall market demand for Professional Diagnostics during the aforesaid period.
Report Coverage
The report: “Professional Diagnostics Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Professional Diagnostics Market:
By Product Type: Clinical Microbiology, immunochemistry, Point of Care Test (POCT), Hematology, Homeostasis.
By End-Users: Hospital & Clinics, Diagnostic Laboratories, others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia and Others), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand and Others), South America(Brazil, Argentina and others), and Rest of the World (Middle East and Africa)
Key Takeaways
- In 2020, North America dominates the Professional Diagnostics Market owing to rising incidence of chronic diseases.
- Increasing innovation and development in Professional Diagnostics across the globe is driving the market growth of Professional Diagnostics.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Professional Diagnostics Market report.
- Lack of skilled professional and downward pricing pressure are challenging the growth of the market.
For More Details on This Report - Request for Sample
Professional Diagnostics Market Segment Analysis- By Product Type
Based on the product type, Professional Diagnostics Market is segmented into Clinical Microbiology, immunochemistry, Point of Care Test (POCT), Hematology, Homeostasis. The Point of Care Test (POCT) segment is estimated to dominate the market during the period 2021-2026. This is attributed to rising usage of home-based POC devices. Furthermore, it is more effective and safe as well as gives more rapid decisions with accurate results in the process of diagnosis. The Clinical Microbiology, segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5.0% during the period 2021-2026. This is mainly owing to it plays important role in patient care and provide rapid diagnosis of pathogen during treatment.
Professional Diagnostics Market Segment Analysis- By End-User
Based on the end-user, Professional Diagnostics Market is segmented into Hospital & Clinics, Diagnostic Laboratories, others. In 2020, Hospital & Clinics is estimated to hold major share in the market. This is mainly rising number of hospitals and clinics which leads to reduction in the patient waiting time with the use of rapid POC test. Moreover, increasing government initiatives to provide improved care top the patients in hospitals also contributing to the dominance of this segment. Also, Diagnostic Laboratories is projected to grow with a CAGR of 5.6% over the period 2021-2026. This is owing to diagnostic laboratories provides rapid diagnosis with accurate results and care.
Professional Diagnostics Market Segment Analysis- By Geography
North America dominated the Professional Diagnostics market share accounting for 41% of the market in 2020. This is mainly owing to increasing prevalence of chronic diseases such as heart diseases, diabetes, obesity and others among geriatric population which leads to rise in demand for professional diagnostics this region. According to, Centres for Disease Control and Prevention (CDC), chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare coupled with rising advancement in diagnostic market.
Professional Diagnostics Market Drivers
Increasing Prevalence of Chronic Diseases
Increasing prevalence of chronic diseases such as cancer, heart diseases, diabetes, obesity and others among geriatric population across the globe is driving the growth of Professional Diagnostics market. According to, World Health Organization (WHO), chronic diseases are the leading cause of death on worldwide and by 2020 it is expected to rise to 73% of all deaths across the globe. Moreover, increasing number of geriatric population is also set to increase the market growth.
Rising Technological Advancement
Increase in research and development of advanced technology for Professional Diagnostics is also driving the market. New product development and innovation in formulations of diagnostics test. Also, rising government initiatives for research and development in diagnostic laboratories is also set to the growth of Professional Diagnostics Market.
Professional Diagnostics Market Challenges
Lack of skilled professional in hospitals and clinics for treatment of various diseases is challenging the market. Along with this downward pricing pressure are also further challenging the growth of the market.
Covid-19 Impact
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the Professional Diagnostics market including drastic reduction demand owing to lack of visits to healthcare facilities such as hospitals and clinics. Also owing to widespread of coronavirus it affects workforce and staffing issues, procedural prioritisation. These affects Professional Diagnostics market by cancellation of scheduled visit for primary care at hospitals and reflecting patients concern about infection.
Professional Diagnostics Market Industry Outlook
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the Professional Diagnostics Market. Professional Diagnostics top 10 companies are F. Hoffman-La Roche Ltd, Abbott, Danaher, Thermo Fischer Scientific Inc., Siemens Medical Solutions USA, Inc., Abaxis, Hologenic Inc., Bio-Rad Laboratories Inc.,Enzo Biochem Inc, and Trivitron Healthcare.
Development:
- In March 2021, Hologenic, Inc. acquired Diagenode, European developer and manufacturer of molecular diagnostic assays and epigenetics products for approx. $159 million.
Relevant Reports:
Report Code: HCR 0422
Report Code: HCR 0066
For more Lifesciences and Healthcare Market reports, please click here
1. Professional Diagnostics Market - Overview
1.1 Definitions and Scope
2. Professional Diagnostics Market - Executive Summary
2.1 Market Revenue and Key Trends
2.2 Key trends by Product Type
2.3 Key trends by End-User
2.4 Key trends by Geography
3. Professional Diagnostics Market – Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis – Key Companies
3.3 Market Value Split by Key Companies
3.4 Patent Analysis –
3.5 Pricing Analysis
4. Professional Diagnostics Market - Startup Companies Scenario Premium
4.1 Key Startup Company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Venture Capital and Funding Scenario
5. Professional Diagnostics Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. Professional Diagnostics Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Professional Diagnostics Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Professional Diagnostics Market – By Product Type(Market Size –$Million/$Billion)
8.1 Clinical Microbiology
8.2 Immunochemistry
8.3 Point of Care Test (POCT)
8.4 Hematology
8.5 Homeostasis
9. Professional Diagnostics Market - By End-User(Market Size –$Million/$Billion)
9.1 Hospital & Clinics
9.2 Diagnostic Laboratories
9.3 Others
10. Professional Diagnostics Market - By Geography(Market Size –$Million/$Billion)
10.1 North America
10.1.1 U.S.
10.1.2 Mexico
10.1.3 Canada
10.2 Europe
10.2.1 U.K.
10.2.2 France
10.2.3 Germany
10.2.4 Italy
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Asia Pacific
10.3.1 China
10.3.2 India
10.3.3 Japan
10.3.4 South Korea
10.3.5 Australia & New Zealand
10.3.6 Rest of APAC
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Others
10.5 Rest of the World
10.5.1 Middle East
10.5.2 Africa
11. Professional Diagnostics Market - Entropy
12. Professional Diagnostics Market – Industry/Segment Competition Landscape Premium
12.1 Market Share Analysis
12.1.1 Global Market Share – Key Companies
12.1.2 Market Share by Region – Key companies
12.1.3 Market Share by Countries – Key Companies
12.1.4 Best Practices for Companies
13. Professional Diagnostics Market – Key Company List by Country Premium Premium
14. Professional Diagnostics Market Company Analysis
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.
LIST OF TABLES
1.Global GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 ($M)1.1 IMMUNOCHEMISTRY Market 2019-2024 ($M) - Global Industry Research
1.2 CLINICAL MICROBIOLOGY Market 2019-2024 ($M) - Global Industry Research
1.3 HEMATOLOGY Market 2019-2024 ($M) - Global Industry Research
1.4 POINT OF CARE TEST Market 2019-2024 ($M) - Global Industry Research
1.5 HEMOSTASIS Market 2019-2024 ($M) - Global Industry Research
2.Global GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 ($M)
2.1 HOSPITALS Market 2019-2024 ($M) - Global Industry Research
2.2 DIAGNOSTIC LABORATORIES Market 2019-2024 ($M) - Global Industry Research
3.Global GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 (Volume/Units)
3.1 IMMUNOCHEMISTRY Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 CLINICAL MICROBIOLOGY Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 HEMATOLOGY Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 POINT OF CARE TEST Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 HEMOSTASIS Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 (Volume/Units)
4.1 HOSPITALS Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 DIAGNOSTIC LABORATORIES Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 ($M)
5.1 IMMUNOCHEMISTRY Market 2019-2024 ($M) - Regional Industry Research
5.2 CLINICAL MICROBIOLOGY Market 2019-2024 ($M) - Regional Industry Research
5.3 HEMATOLOGY Market 2019-2024 ($M) - Regional Industry Research
5.4 POINT OF CARE TEST Market 2019-2024 ($M) - Regional Industry Research
5.5 HEMOSTASIS Market 2019-2024 ($M) - Regional Industry Research
6.North America GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 ($M)
6.1 HOSPITALS Market 2019-2024 ($M) - Regional Industry Research
6.2 DIAGNOSTIC LABORATORIES Market 2019-2024 ($M) - Regional Industry Research
7.South America GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 ($M)
7.1 IMMUNOCHEMISTRY Market 2019-2024 ($M) - Regional Industry Research
7.2 CLINICAL MICROBIOLOGY Market 2019-2024 ($M) - Regional Industry Research
7.3 HEMATOLOGY Market 2019-2024 ($M) - Regional Industry Research
7.4 POINT OF CARE TEST Market 2019-2024 ($M) - Regional Industry Research
7.5 HEMOSTASIS Market 2019-2024 ($M) - Regional Industry Research
8.South America GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 ($M)
8.1 HOSPITALS Market 2019-2024 ($M) - Regional Industry Research
8.2 DIAGNOSTIC LABORATORIES Market 2019-2024 ($M) - Regional Industry Research
9.Europe GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 ($M)
9.1 IMMUNOCHEMISTRY Market 2019-2024 ($M) - Regional Industry Research
9.2 CLINICAL MICROBIOLOGY Market 2019-2024 ($M) - Regional Industry Research
9.3 HEMATOLOGY Market 2019-2024 ($M) - Regional Industry Research
9.4 POINT OF CARE TEST Market 2019-2024 ($M) - Regional Industry Research
9.5 HEMOSTASIS Market 2019-2024 ($M) - Regional Industry Research
10.Europe GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 ($M)
10.1 HOSPITALS Market 2019-2024 ($M) - Regional Industry Research
10.2 DIAGNOSTIC LABORATORIES Market 2019-2024 ($M) - Regional Industry Research
11.APAC GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 ($M)
11.1 IMMUNOCHEMISTRY Market 2019-2024 ($M) - Regional Industry Research
11.2 CLINICAL MICROBIOLOGY Market 2019-2024 ($M) - Regional Industry Research
11.3 HEMATOLOGY Market 2019-2024 ($M) - Regional Industry Research
11.4 POINT OF CARE TEST Market 2019-2024 ($M) - Regional Industry Research
11.5 HEMOSTASIS Market 2019-2024 ($M) - Regional Industry Research
12.APAC GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 ($M)
12.1 HOSPITALS Market 2019-2024 ($M) - Regional Industry Research
12.2 DIAGNOSTIC LABORATORIES Market 2019-2024 ($M) - Regional Industry Research
13.MENA GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY TYPE Market 2019-2024 ($M)
13.1 IMMUNOCHEMISTRY Market 2019-2024 ($M) - Regional Industry Research
13.2 CLINICAL MICROBIOLOGY Market 2019-2024 ($M) - Regional Industry Research
13.3 HEMATOLOGY Market 2019-2024 ($M) - Regional Industry Research
13.4 POINT OF CARE TEST Market 2019-2024 ($M) - Regional Industry Research
13.5 HEMOSTASIS Market 2019-2024 ($M) - Regional Industry Research
14.MENA GLOBAL PROFESSIONAL DIAGNOSTICS MARKET, BY END USERS Market 2019-2024 ($M)
14.1 HOSPITALS Market 2019-2024 ($M) - Regional Industry Research
14.2 DIAGNOSTIC LABORATORIES Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Professional Diagnostics Market Revenue, 2019-2024 ($M)2.Canada Professional Diagnostics Market Revenue, 2019-2024 ($M)
3.Mexico Professional Diagnostics Market Revenue, 2019-2024 ($M)
4.Brazil Professional Diagnostics Market Revenue, 2019-2024 ($M)
5.Argentina Professional Diagnostics Market Revenue, 2019-2024 ($M)
6.Peru Professional Diagnostics Market Revenue, 2019-2024 ($M)
7.Colombia Professional Diagnostics Market Revenue, 2019-2024 ($M)
8.Chile Professional Diagnostics Market Revenue, 2019-2024 ($M)
9.Rest of South America Professional Diagnostics Market Revenue, 2019-2024 ($M)
10.UK Professional Diagnostics Market Revenue, 2019-2024 ($M)
11.Germany Professional Diagnostics Market Revenue, 2019-2024 ($M)
12.France Professional Diagnostics Market Revenue, 2019-2024 ($M)
13.Italy Professional Diagnostics Market Revenue, 2019-2024 ($M)
14.Spain Professional Diagnostics Market Revenue, 2019-2024 ($M)
15.Rest of Europe Professional Diagnostics Market Revenue, 2019-2024 ($M)
16.China Professional Diagnostics Market Revenue, 2019-2024 ($M)
17.India Professional Diagnostics Market Revenue, 2019-2024 ($M)
18.Japan Professional Diagnostics Market Revenue, 2019-2024 ($M)
19.South Korea Professional Diagnostics Market Revenue, 2019-2024 ($M)
20.South Africa Professional Diagnostics Market Revenue, 2019-2024 ($M)
21.North America Professional Diagnostics By Application
22.South America Professional Diagnostics By Application
23.Europe Professional Diagnostics By Application
24.APAC Professional Diagnostics By Application
25.MENA Professional Diagnostics By Application
26.SIEMENS MEDICAL SOLUTIONS USA, INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.F. HOFFMANN LA ROCHE LTD, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.THERMOFISCHER SCIENTIFIC INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.ABAXIS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.BIO-RAD LABORATORIES INC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.HOLOGIC INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.ALERE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.ENZO BIOCHEM INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.BECTON, DICKENSON AND COMPANY, Sales /Revenue, 2015-2018 ($Mn/$Bn)