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Global Point of Care Diagnostics Market (2021 to 2028) - COVID-19 Impact and Analysis - ResearchAndMarkets.com

·3 min read

DUBLIN, December 09, 2021--(BUSINESS WIRE)--The "Point of Care Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product, Prescription Mode, and End User, and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the market is expected to reach US$ 82,958.3 million by 2028 from US$ 36,000.4 million in 2021; it is estimated to grow at a CAGR of 12.7% from 2021 to 2028.

The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The market growth is primarily attributed to increase in prevalence of infectious diseases, product developments and launches, and rise in number of CLIA-waived POC tests. However, product recalls are expected to hamper the market growth.

Point of care testing (POCT) is described as medical diagnostic testing at or near the point of care that is, at time and place of patient care. The purpose of POCT is to provide immediate information to physicians about the patient's condition. POCT is an important diagnostic tool used in various locations in the hospital such as the intensive care unit (ICU), the operating room (OR), and the emergency department (ED).

Based on product, the point of care diagnostics market is segmented into glucose monitoring, infectious disease testing, cardiometabolic testing, pregnancy and fertility testing, coagulation testing, tumor/cancer marker testing, cholesterol testing, urinalysis testing, hematology testing, and other POC products.

The infectious diseases segment is further subsegmented into HIV testing, influenza testing, sexually transmitted disease (STD) testing, hepatitis C testing, healthcare-associated infection (HAI) testing, tropical disease testing, respiratory infection testing, and other infectious disease testing. In 2020, the glucose monitoring segment held the largest share of the market. However, the infectious diseases segment is estimated to register the highest CAGR of 14.1% during the forecast period.

The point of care diagnostics market is witnessing substantial growth amid the COVID-19 pandemic. Certain factors such as sudden rise in coronavirus infections and exponential growth in COVID-19 diagnostic kits played a prominent role in the growth of the point of care diagnostics market during the pandemic. In addition, the growing demand for rapid test kits for faster diagnosis at public places is also estimated to have positive impact on the market growth.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Point of Care Diagnostics Market.

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global Point of Care Diagnostics Market, thereby allowing players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Drivers

  • Increase in Prevalence of Infectious Diseases

  • Product Launches and Product Developments

  • Rise in Number of CLIA-Waived POC Tests

Restraints

  • Product Recalls

Opportunities

  • Emerging Markets in Developing Countries

  • Increasing Number of Conferences and Events

Future Trends

  • Rising Use of Home-Based POC Devices

Companies Mentioned

  • F. Hoffmann-La Roche Ltd

  • Abbott

  • bioMerieux SA

  • Johnson & Johnson Services, Inc.

  • Nova Biomedical

  • Siemens AG

  • Bio Rad Laboratories Inc.

  • BD

  • Danaher Corporation

  • PTS Diagnostics

For more information about this report visit https://www.researchandmarkets.com/r/s5dkrk

View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005712/en/

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