According to MRFR analysis, the global point of care diagnostics/testing market is expected to register a CAGR of~11.6% from 2021 to 2027and hold a value of ~USD 36,740.3 million by 2027. Furthermore, the prominent players focus on employee satisfaction, transforming their research utilities, and diversifying their distribution network. These factors will augment the market growth and will increase the market share during the forecast period.
The global point of care diagnostics/testing market is driven by several factors, such as increasing demand for remote diagnosis, rising demand for early-stage diagnosis products, and growing demand for minimally or non-invasive diagnostic products. Other factors such as the introduction of mobile healthcare technologies and wearable diagnostic devices, the emergence of new technologies for monitoring and imaging are creating opportunities for the market players.
The market players are involved in various strategic collaborations, mergers & acquisitions, product launches, cooperative development of the product, and investing in stock to expand their worldwide presence. For instance, in July 2020, Becton, Dickinson and Company (US) launched a rapid POC antigen test to diagnose SARS-CoV-2 in 15 minutes. In June 2020, Celltrion Group (South Korea) announced to launch COVID-19 POC antigen testing kit.
Get more Details Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/10642
Segmentation
The global point of care diagnostics/testing market is categorized into product, end user, mode of purchase, and platform.
- Based on the product category, the market has been segregated into glucose monitoring, pregnancy & fertility testing, infectious disease testing, drug abuse testing, coagulation monitoring, cardiometabolic monitoring, cancer/tumor marker testing, hematology testing, urinalysis testing, cholesterol, and others. The glucose monitoring segment is expected to hold a considerable share of the market in 2020.
- Based on end user, the global point of care diagnostics/testing market has been classified as hospitals & clinics, diagnostics centers, homecare/self-testing, and others. Hospitals &clinics held the largest segment share in 2020, owing to easy maneuvering, sample processing, and quick delivery of results. A laboratory information system also manages and stores patient’s test data for further reference, which further drives the market growth.
- Based on mode of purchase, the global point of care diagnostics/testing market has been classified as over the counter (OTC) testing products and prescription-based testing products. The OTC testing products aim to hold a larger market share in the mode of purchase category. OTC products are sold without the prescription for generic disease-diagnosed patients.
- Based on the platform, the global point of care diagnostics/testing market has been classified as immunoassays, molecular diagnostics, dipstick, and others. Immunoassays is estimated to hold the largest segment share in 2020, owing to the increasing demand for the products for testing antibodies or a specific antigen in blood or other body fluids. The immunoassays based POC test is carried out in countries with low resources and facilities.
Key Players
Some of the key players in the global point of care diagnostics/testing market are Abbott Laboratories (US), Siemens Healthineers GmbH (Germany), Chembio Diagnostics, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Johnson & Johnson Services, Inc. (US), Becton, Dickinson and Company (US), Danaher Corporation (US), PTS Diagnostics (US), Nova Biomedical (US), Quidel Corporation (US), Sekisui Diagnostics (US), Trinity Biotech (Ireland), AccuBioTech Co., Ltd.(China), Instrumentation Laboratory Company (Werfen) (US), and EKF Diagnostics Holdings plc (UK) among others.
Regional Analysis
North America is estimated to dominate the point of care diagnostics/testing market, owing to the increasing demand for virtual and convenient diagnostic solutions, enhancement in healthcare regulations, and growing awareness about wellness and healthcare among the young population. Furthermore, the involvement/adoption of strategies like mergers & acquisitions by key players, government partnerships, and the development of new products are also propelling the market growth.
Europe embraces the second-largest position in the point of care diagnostics/testing market due to the increasing number of IVD testing, molecular diagnostics, and the prevalence of respiratory diseases across the region. The industry players are involved in various business activities such as product launches, mergers and acquisitions, partnerships, and other commercial approaches. For instance, in May 2020, ProciseDx (US) launched 510k filing for CRP test in Europe for gastrointestinal disorders.
Access full report @ https://www.marketresearchfuture.com/reports/point-of-care-diagnostics-testing-market-10642
Asia-Pacific is projected to be the fastest-growing regional market during the study period due to increasing demand for diagnostic tests such as blood gas tests, rapid blood coagulation tests, pregnancy tests, drug abuse screening, rapid diagnosis of cardiac markers, blood glucose testing, electrolyte analysis, urine analysis, and dry biochemical tests across the region. In addition, the increasing demand for multiple diagnostic devices coupled with the rising demand for accurate and efficient diagnostic and testing devices is driving the Asia-Pacific point of care diagnostics market.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future (MRFR) team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013,
United States of America
+1 646 845 9312
