Point of Care Diagnostics Market Expected to Grow at a CAGR of 8% from 2018 to reach $30.9 Billion by 2024.| Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth

With the growing need for early disease diagnosis and improved patient outcomes, in vitro diagnostics is shifting from centralized laboratories to decentralized point-of-care (POC) testing. POC testing is gaining traction as it enables rapid detection of analytes near to the patient, which facilitates quick medical decisions and better disease diagnosis, monitoring, and management.

Meticulous Research(R) in its latest publication on Point of Care Diagnostics market states that the global Point of Care Diagnostics market will increase at a CAGR of 8.0% from 2018 to 2024 to reach $30.9 billion 2024.

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Growth of the global Point of Care Diagnostics market is mainly attributed to growing burden of infectious diseases, rising geriatric population coupled with the growing prevalence of chronic diseases, technological advancements, rising number of CLIA-waived POC tests, shortage of skilled laboratory technicians, increasing funding/investments for the development of POC products and rising awareness through increasing number of conferences and events.

To provide efficient analysis, Meticulous Research has segmented this market on the basis of product (blood glucose monitoring testing, infectious disease testing, cardiac metabolic monitoring testing, coagulation monitoring testing, pregnancy & fertility testing, fecal occult testing, hematology testing, tumor/cancer marker testing, drug of abuse testing, urinalysis testing, cholesterol testing, and other POC testing kits), platform (lateral flow assays (immunochromatography tests/lateral flow immunoassays), dipsticks, microfluidics, and molecular diagnostics), mode (prescription-based testing kits, and over-the-counter (OTC) testing kits), end users (home care/self-testing, physician offices & outpatient/ambulatory care settings, hospitals, and academic & research institutes), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).

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Wherein, geographically, North America commanded the largest share in this market followed by Europe. The major share of North America is mainly attributed to high prevalence of non-communicable diseases; greater focus on preventive measures and improved patient outcomes; better adoption of technically advanced products; and presence of various POC companies in this region

While in terms of applications, blood glucose monitoring testing segment accounted for the largest share in the global Point of Care Diagnostics market in 2017. The large share of this segment is mainly attributed to high prevalence of diabetes population, need for early detection of Hypo and Hyperglycemic diabetes, convenience of POC glucose monitoring over conventional monitoring, and growing technological innovations.

Here are the top Market companies in the world::
https://meticulousblog.org/top-10-companies-in-point-of-care-market/

Key Players:

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Roche Diagnostics (U.S.), Abbott Laboratories (U.S.), Johnson and Johnson Service, Inc. (U.S.), Siemens Healthineers (Germany), Danaher Corporation (U.S.), AccuBioTech Co., Ltd. (China), Becton Dickinson and Company (U.S.), Chembio Diagnostic Systems, Inc. (U.S.), EKF Diagnostics Holdings plc (U.K.), WerfenLife, S.A. (Spain), Nova Biomedical (U.S.), Sekisui Diagnostics LLC (U.S.), Quidel Corporation (U.S.), OraSure Technologies, Inc., and Trinity Biotech (Ireland).

Key questions answered in the report-

Growing penetration of PoC tests in developing countries will propel the overall point of care diagnostics market

1. How does the penetration of PoC tests in developed regions differ from developing countries like China, India, and Japan?
2. How is the competition between the major global and prominent local players in this market?
3. Which are the high growth market segments in terms of product, platform, prescription mode, end users, and geography?

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Home Care/Self Testing accounted for the largest share of the point of care diagnostics market

1. What factors are contributing to the frequent usage of PoC tests in home care/self-testing?
2. How does the penetration of PoC tests in home care/self-testing differ from other end users?

Point of care diagnostics market favors both global and local manufacturers that compete in multiple segments

1. Who are the top competitors in this market and what strategies do they employ to gain shares?
2. Which market segments have the most potential for revenue expansion over the forecast period?
3. What strategies should new companies look to enter in this market?
4. What are the major drivers, restraints, opportunities, and challenges in the point of care diagnostics market?
5. How is the regulatory scenario for PoC across the globe?
6. What are the geographical trends and high growth regions/countries?

Recent partnerships, acquisitions, and expansions have taken place in the global point of care diagnostics market

1. Which companies have recently merged/acquired and how will these unions affect the competitive landscape of the point of care diagnostics market?
2. Which companies have created partnerships and how will these partnerships promote a competitive advantage?
3. Who are the major players in the global point of care diagnostics market and what share of the market do they hold?
4. What are the local emerging players in the global point of care diagnostics market and how do they compete with the global players?

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