Point of Care Diagnostics Market Size to Hit USD 68.21 Billion by 2030
The world-class Global Point of Care Diagnostics Market report contains most-detailed market segmentation, systematic analysis of major market players, trends in consumer and supply chain dynamics, and insights about new geographical markets. The market study in this report also analyzes the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors by keeping SWOT analysis and Porter’s Five Forces Analysis as a base. The most accurate way to forecast what future holds is to understand the trend today and hence Global Point of Care Diagnostics Market document has been structured by chewing over numerous fragments of the present and upcoming market scenario.
Point-of-care testing diagnostics have numerous advantages, allowing patients to be diagnosed in a variety of settings, including the doctor’s office, an ambulance, the home, the field, or the hospital. The outcomes of care are timely and provide the patient with prompt treatment. Chronic diseases, such as diabetes, rheumatism, and cancer, are becoming more common around the world for a variety of reasons, including an increase in the geriatric population, sedentary lifestyles, unhealthy eating habits, and environmental factors. Chronic diseases, for example, kill more than 38 million people worldwide each year. Cardiovascular diseases cause the most chronic disease deaths each year, killing 17.5 million people, followed by cancer (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million).
Data Bridge Market Research analyses that the point of care diagnostics market is expected to reach the value of USD 68.21 billion by the year 2029, at a CAGR of 9.1% during the forecast period. The rising prevalence of infectious diseases in developing countries is propelling the point-of-care diagnostics market.
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Point-of-Care diagnostics are techniques used to make an early and accurate diagnosis of a disease. These techniques are highly sensitive, cost-effective, and yield results in a short period of time. These techniques are used in hospitals, clinics, ambulatory care, home healthcare, and research laboratories.
Drivers
- The rise in the cases of chronic diseases
Rising incidence of target conditions, rising government support, rising number of clia-waived POC tests, rising healthcare expenditures globally, rising technological advancements and adoption of home-based point of care devices, and rising initiatives implemented by government and not-for-profit associations for raising health awareness are the major factors driving the point-of-care diagnostics market, among others
The increase in adoption of latest technologies and growing awareness
Rising technological advancements is the vital factor escalating the market growth, also increasing ising awareness via conferences and events, rising POC tests with multiplexing capabilities, healthcare decentralisation, and emerging markets will create new opportunities for the point-of-care diagnostics market during the forecasted period.
- Regulatory Compliance
Maintaining compliance with medical reforms and regulations raises the demand for these solutions. The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the point of care diagnostics market.
Opportunities
Increasing personalised medicine, mass cytometry development, and the combination of cell- and bead-based flow cytometry technologies, improving healthcare infrastructure in emerging markets, and the rise of miniaturised and technologically advanced devices will all create new opportunities for the point of care diagnostics market.
Restraints/Challenges
Rising pricing pressure due to reimbursement cuts and budget constraints, as well as rising stringent and time-consuming regulatory policies, will obstruct market growth, while lack of alignment with definitive central lab methods, insufficient knowledge about the use of POC devices in professional settings, and reluctance to change existing diagnostic practises, will further challenge the growth of the point-of-care diagnostics market.
This point of care diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the point of care diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- Roche will launch its Cobas Pulse System in select countries that accept the CE Mark in January 2022. This is the latest generation of connected point-of-care solutions for professional blood glucose management from Roche Diagnostics.
- Thermo Fisher Scientific announced in October 2021 that it had received FDA Emergency Use Authorization (EUA) to run COVID-19 tests from a new saliva sample collection method using the Spectrum Solutions SpectrumDNA SDNA-1000 collection device, a high-throughput, automated COVID-19 testing system on the Amplitude Solution.
- BioMérieux and Specific Diagnostics announced a co-exclusive distribution agreement in Europe for the SPECIFIC REVEAL Rapid AST system in June 2021. The system is an ideal companion to bioMérieux’s BIOFIRE BCID2.
Some of the major players operating in the point of care diagnostics market are
- Abbott Laboratories (US)
- Siemens Healthineers AG (Germany)
- Quidel Corporation (US)
- F. Hoffman-La Roche Ltd. (Switzerland)
- Danaher Corporation (US)
- Becton, Dickinson and Company (US)
- Chembio Diagnostics (US)
- EKF Diagnostics (UK)
- Trinity Biotech plc (Ireland)
- Instrumentation Laboratory (a Werfen Company) (US)
- Nova Biomedical (US)
- PTS Diagnostics (US)
- Sekisui Diagnostics (US)
- Thermo Fisher Scientific (US)
- bioMérieux S.A. (France).
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Point of Care Diagnostics Market Scope
Platform
- Lateral flow assays
- Dipsticks
- Microfluidics
- Molecular diagnostics
- Immunoassays
- Others
On the basis of platform, point-of-care diagnostics market is segmented into lateral flow assays, dipsticks, microfluidics, molecular diagnostics and immunoassays.
Prescription
- Prescription Based
- OTC testing
Based on prescription, the point-of-care diagnostics market is segmented into prescription-based testing and OTC testing.
End User
- Professional diagnostic centers
- Research laboratories
- Home care
- Others
Based on end-user, the point-of-care diagnostics market is segmented into professional diagnostic centers, home care, research laboratories and other end users. Professional diagnostic centers have been further segmented into clinical laboratories, outpatient healthcare & ambulatory care settings and hospitals/critical care centers.
Product
- Glucose
- Cardio metabolic
- Infectious disease
- Influenza
- Hiv
- Hepatitis c
- Sexually transmitted disease (std)
- Healthcare-associated infection (hai)
- Respiratory infection
- Tropical disease
- Other infectious disease
- Coagulation, pt/inr activated clotting time (act/aptt)
- Pregnancy and fertility
- Tumor/cancer marker
- Urinalysis
- Cholesterol
- Hematology
- Drugs-of-abuse
- Fecal occult
- Other poc products
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Fundamental Aim of this Market Report
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Key highlights of this Market report:
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-point-of-care-diagnostics-market&Shri
Critical Insights Related to the adalimumab biosimilar Included in the Report:
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- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
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