COVID-19 Impact: Point of Care Diagnostics Market Witness to Grow Remarkable at a CAGR of 8% to Reach $30.9 billion by 2024 |Know Companies will Get Benefits Because of Covid-19 Pandemics

Meticulous Research has stated that the size of the global point of care diagnostics market will reach an impressive $30.9 billion by 2024.

The researchers predict that significant growth will be driven by variety of factors including growing incidence of target diseases such as cancer, diabetes, cardiovascular diseases, and infectious diseases; the need for rapid results in certain medical situations; increasing usage of home-based tests/self-testing; rising number of CLIA-waived product approvals; and increasing funding/investment for the development of POC products.

We are in the phase of updating this report by analysing the impact of COVID-19 on this market.

Download Free Sample Copy Of The Report::
https://www.meticulousresearch.com/download-sample-report/cp_id=4871

The report states that lateral flow assays (immunochromatography tests/lateral flow immunoassays) platform accounts for the largest share of the total point of care diagnostics market. However, point of care molecular diagnostics tests are expected to grow at a fastest CAGR of 13.3% from 2018 to 2024. Meticulous Research anticipated as to why this area is emerging as the largest use of the platform: "The shift from the traditional microbiology-based testing to molecular testing stems from the rising antibiotic resistance crisis, and faster turnaround time of POC molecular assay tests."

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.

Browse key industry insights spread across 293 pages with 230 market data tables & 60 figures & charts from the report: https://www.meticulousresearch.com/product/point-of-care-diagnostics-poc-market/

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.

TOP 10 COMPANIES IN POINT OF CARE DIAGNOSTICS MARKET
https://meticulousblog.org/top-10-companies-in-point-of-care-market/

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.

Geographical Analysis:
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.

Asia-Pacific: Fastest growing regional market:

North America commanded the largest share of the global point of care diagnostics market; however, Asia-Pacific is poised to be the fastest-growing regional market due to the accelerated growth of economies, increasing population living with various infectious diseases; lower regulatory hurdles, and rising accessibility to healthcare services and POC products.

Download Free Sample Copy Of The Report::
https://www.meticulousresearch.com/download-sample-report/cp_id=4871

Related Reports:
1. Point of Care Molecular Diagnostics Market by Product and Solution (Assay, Analyzer, Software, Services), Technology (RT-qPCR, INAAT), Application (Respiratory Diseases, Hospital Acquired Infections, STD), and End User - Global Forecast to 2027
https://www.meticulousresearch.com/product/point-of-care-molecular-diagnostics-market-5081/

2. In-Vitro Toxicology/Toxicity Testing Market by Product and Service, Technology (Cell Culture, OMICS), Method (Cell-based Assays, In-Silico), End-point (ADME, Genotoxicity, Organ Toxicity, Dermal Toxicity), End-user, and Geography - Global Forecast to 2025
https://www.meticulousresearch.com/product/in-vitro-toxicology-toxicity-testing-market-5047/

Meticulous Research®
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
+91 744-7780008 (Asia-Pacific)
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Meticulous Research® Blog: https://meticulousblog.org/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

About Meticulous Research

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.

Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

This release was published on openPR.