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Point of Care Testing Market to Grow with Launch of Technologically Advanced Products by 2027 profiling Siemens Healthcare, Danaher, BD, Johnson & Johnson Services, Accubiotech, Instrumentation Laboratory

08-23-2019 12:51 PM CET | Health & Medicine

Press release from: The Insight Partners

Point of Care Testing Market

Point of Care Testing Market

Increase in adoption of point of care testing in diagnostics, launch of technologically advanced products, shortage of skilled staff in healthcare industry, and increase in investments by medical device companies to develop rapid diagnostic tests are likely aid in the growth for global point of care testing market. Also introduction of favorable regulatory initiatives for point of care testing is expected to add novel opportunities in the forecast period for global Point of care testing market.

Point of Care Testing Market to 2027 - Global Analysis and Forecasts By Product (Glucose Monitoring Products, Cardiometabolic Testing Products, Infectious Disease Testing Products, Coagulation Testing Products, Pregnancy And Fertility Testing Products, Urinalysis Testing Products, Hematology Testing Products And Others), Platform (Lateral Flow Assays, Dipsticks, Microfluidics, Molecular Diagnostics, and Immunoassays), Application (Research & Development, Diagnosis), End User (Hospitals & Clinics, Home Care, Diagnostic Laboratories And Others) and Geography

Point of care testing (POCT), also known as bedside testing are medical diagnostic tests that are performed near the patient, or at the time of his/her consultation visit. These are rapid diagnostic tests that give the result immediately and both the patients as well as the healthcare professional does not have to wait for test results. These tests when used properly provide efficient, effective medical treatments and can enhance the quality of medical care. Patients can use these test at home and thus can have a track record of his medical treatment. These tests are also used in emergency departments and in operating theatres.

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North America held the major market share in 2017 due to the growing geriatric population and growing healthcare expenditure in this region. Also, the growing preference for rapid diagnostics tests by patients and increasing prevalence of diabetes and cardiovascular diseases in this region drives the market growth. Asia Pacific market is expected to witness to fastest CAGR throughout the forecast period in point of care testing market. This can be attributed to the fact that many major market players are involved in entering the untapped region to enhance their market position. Moreover, rising prevalence of infectious diseases, increasing adoption of POC testing and growing awareness amongst the Asian population is expected to shoot the POC products in Asian countries.

Key Players in the Point of Care Testing Market are- F. HOFFMANN-LA ROCHE LTD, ABBOTT, Siemens Healthcare GmbH, Danaher, BD, Johnson & Johnson Services, Inc., Accubiotech Co,.Ltd., Instrumentation Laboratory, Nova Biomedical, and bioMérieux SA among others.

The point of care testing market report provides a detailed overview on the industry including both qualitative and quantitative information. It provides overview and forecast of the global Point of care testing market based product, platform, end user. It also provides market size and forecast till 2027 for overall Point of care testing market with respect to five major regions, namely; North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.

The point of care testing market is classified by product as glucose monitoring products, cardiometabolic testing products, infectious disease testing products, coagulation testing products, pregnancy and fertility testing products, urinalysis testing products, hematology testing products and others. By platform, the point of care testing market is segmented as lateral flow assays, dipsticks, microfluidics, molecular diagnostics, and immunoassays. On basis of end user the point of care testing market is segmented into hospitals & clinics, home care, diagnostic laboratories and others.

The "Global Point of Care Testing Market Analysis to 2027" is a specialized and in-depth study of the biotechnology industry with a focus on the global market trend. The report aims to provide an overview of global point of care testing market with detailed market segmentation by product, platform, end user and geography. The global Point of care testing market is expected to increase the high progression during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.

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