Point of Care Diagnostics Market Research Insight 2022| Industry Development - Growth Opportunities in Future, Revenue Forecast Up to 2030

InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled "Global Point of Care Diagnostics Market by (Product (Products (Blood Glucose Monitoring Testing Products, Cardiac Metabolism Monitoring Testing Products, Infectious Disease Testing Products, Coagulation Monitoring Products, Pregnancy, and Fertility Testing Product, Fecal Occult Testing Products, Hematology Testing Products, Tumor/Cancer Markers Testing Products, Drugs of Abuse Testing Products, Urinalysis Testing Products, Cholesterol Testing Products, and other PoC Testing Products), Platform (Lateral Flow Assays (Immunochromatography Tests/Lateral Flow Immunoassays), Dipsticks, Microfluidics, and Molecular Diagnostic), Mode (prescription-based Testing Products and Over-the-Counter (OTC) Testing Products), End-users (Home Care/Self-Testing, Physician offices & Outpatient/Ambulatory Care Settings, Hospitals, and Research Laboratories)) - Market Outlook and Industry Analysis 2030"

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Point-of-care testing (POCT) is crucial for rapidly detecting analytes close to the patient, allowing for improved disease diagnosis, monitoring, and management. Point-of-care (POC) diagnostics provide immediately actionable information for patient care at the time and location of a patient encounter with the health care system. Recently, developing molecular diagnostics have met POC application criteria for speed, low cost, and ease of use. Dipsticks, lateral flow immunoassays (LFIA), and microfluidics are all types of point-of-care testing. While POC testing has gained widespread acceptance and the LFIA platform has matured, other innovations on the horizon will increase accessibility, test performance, and end-user adoption.

Advances in analytical diagnostic systems for point-of-care (POC) usage have garnered substantial interest due to their ability to operate rapidly at the location necessary to manage serious illnesses, even on a customized basis. The ease of operation, rapid analytical results, and low cost of POC diagnostic devices contribute to their advanced research and widespread adoption. The advancements in POC techniques are astounding, allowing them to outperform expensive late-stage diagnostic tools and facilitate early-stage diagnosis with inexpensive options.

Market Dynamics:

POC testing is highly effective in minimizing the spread of infectious/chronic illnesses. Recently, developing molecular diagnostics have met POC application criteria for speed, low cost, and ease of use. The capacity to detect infectious diseases in areas with minimal infrastructure is a primary driver of market growth. Factors such as the high incidence of diabetes, the increasing number of regulatory approvals for innovative immunoassay methods, technical advances, and the growing use of home-based point-of-care devices are expected to drive the market's expansion during the forecast period. POC methods have advanced to the point where they can outperform pricey late-stage diagnostic equipment and provide an early-stage diagnosis with low-cost solutions.

Additionally, the recent coronavirus (COVID-19) outbreak paved the path for advancements in quick and point-of-care diagnostics that may aid in its control. POC test kits for the diagnosis of COVID-19 are currently in development, with several already on the market to help control the pandemic.

Regionally, North America leads the worldwide market in terms of revenue and is likely to maintain its position throughout the forecast period. Increasing incidence of infectious diseases, the launch of novel and advanced kits, favorable government regulations, and well-established healthcare infrastructure are projected to fuel regional market expansion.

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The following key companies are engaged in the Point of Care Diagnostics market:
Abbott Laboratories, Nova Biomedical, Chembio Diagnostic Systems, Inc., Danaher Corporation, Ekf Diagnostics Holdings Plc, Werfenlife, S.A., Johnson & Johnson Services, Inc., Hoffmann-La Roche Ltd., Sekisui Chemical Co. Ltd., Dickinson, And Company (Bd), Quidel Corporation, Siemens Ag, Trinity Biotech, Accubiotech Co., Ltd.

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