Point-of-Care Diagnostics Market Outlook
Point-of-care (PoC) diagnostics include the medical testing conducted to obtain a quick diagnosis and instant detection of critical illnesses. PoC testing uses several portable instruments for glucose monitoring and detection of infectious disease, cardiometabolic, urinalysis, etc.
The global point-of-care diagnostics market size reached US$ 41.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 69.4 Billion by 2027, exhibiting a growth rate (CAGR) of 9.06% during 2022-2027.
It also aids in delivering diagnostic facilities to remote locations where setting up a clinical laboratory is challenging. The testing equipment is often integrated with medical vehicles, including helicopters, air ambulances, airplanes, and spacecraft.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Point-of-Care Diagnostics Market Trends:
The high prevalence of chronic diseases, along with the rising geriatric population, is augmenting the demand for point-of-care (PoC) diagnostics. Moreover, technological advancements have led to the development of miniaturized devices, thereby driving the market growth. Furthermore, rapid integration with PoC devices with wireless technology has enabled healthcare professionals to maintain electronic medical records (EMR).
These records facilitate the direct transmission of test results from PoC devices to the lab specialists, thus reducing the chances of discrepancies. The market is further propelled by the inclusion of home-testing cancer kits to monitor and analyze tumor cells. Besides this, rising R&D activities to develop molecular diagnostic devices and the growing demand for early disease detection are anticipated to boost the point-of-care (PoC) diagnostics market.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players:
- Abbott Laboratories
- Beckman Coulter Inc.
- Dickinson and Company
- Hoffmann-La Roche AG
- Instrumentation Laboratory
- Johnson & Johnson
- Nova Biomedical Corporation
- Pts Diagnostics
- Trinity Biotech
Key Market Segmentation:
The report has categorized the market based on product type, platform, prescription mode and end-user.
Breakup by Product Type:
- Blood-Glucose Monitoring Kit
- Cardio-Metabolic Monitoring Kit
- Pregnancy and Fertility Testing Kit
- Infectious Disease Testing Kit
- Cholesterol Test Strip
- Hematology Testing Kit
Breakup by Platform:
- Lateral Flow Assays
- Molecular Diagnostics
Breakup by Prescription Mode:
- Prescription-Based Testing
- OTC Testing
Breakup by End-User:
- Professional Diagnostic Centers
- Home Care
- Research Laboratories
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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