Point Of Care | PoC Diagnostics Market To Be Worth Over $30.9 Billion By 2024|Key players are Abbott Laboratories, Danaher , WerfenLife, Johnson and Johnson , Nova Biomedical,F. Hoffmann-La Roche, Sekisui Diagnostics
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Over-the-Counter (OTC) testing is cited as the major trend driving the growth of point of care diagnostics market. OTC testing kits are expected to generate relatively higher revenue than prescription tests over the forecast period owing to the associated ease of usage, growing home care and self-testing, and higher availability and greater adoption rate.
On the basis of product type, blood glucose monitoring testing currently dominates the global POC diagnostics market; however, infectious diseases testing kits segment is expected to register growth during the forecast period. Influenza causes 12,000- 50,000 deaths annually in the U.S. Rapid testing for influenza A and B allows for accurate and timely treatment, as patients only have a 48-hour window to receive critical antiviral therapy. Thus, growing prevalence of infectious diseases and need for rapid testing and treatment provide robust opportunities for POC testing companies like BD, Quidel, Roche, and Alere (Abbott). Meticulous Research® help companies operating in POC diagnostics market to identify key growth segments to invest in.
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Finally, the report states that North America is currently the home of most of the point of care diagnostics companies. However, Asia-Pacific is named as the area expected to grow most by 2024. Major reasons cited for this rising demand include accelerated growth of the economies; relatively lower availability of sophisticated central laboratory testing services; a larger population base in need for clinical testing; increasing incidence of infectious and non-communicable diseases in aging population; and improving availability and awareness of POC tests.
The key players operating in the global point of care diagnostics market are Abbott Laboratories, AccuBioTech Co., Ltd., Becton Dickinson and Company, Chembio Diagnostic Systems, Inc., Danaher Corporation, EKF Diagnostics Holdings plc, WerfenLife, S.A., Johnson and Johnson Service, Inc., Nova Biomedical, F. Hoffmann-La Roche Ltd, Sekisui Diagnostics LLC, Quidel Corporation, Siemens AG, and Trinity Biotech, among others.
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