Point of Care Diagnostics Market is Accounted to USD 68.21 Billion During the Forecast Period 2029

A wide-reaching Point of Care Diagnostics Market research report brings into focus the key market dynamics of the sector. This market study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. The report provides fluctuations in CAGR values during the forecast period of the market. The transformation in the market landscape is mainly observed due to the moves of key players or brands which range from developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry.

Point-of-care testing diagnostics have numerous advantages, allowing patients to be diagnosed in a variety of settings, including the doctor's office, an ambulance, the home, the field, or the hospital. The outcomes of care are timely and provide the patient with prompt treatment. Chronic diseases, such as diabetes, rheumatism, and cancer, are becoming more common around the world for a variety of reasons, including an increase in the geriatric population, sedentary lifestyles, unhealthy eating habits, and environmental factors. Chronic diseases, for example, kill more than 38 million people worldwide each year. Cardiovascular diseases cause the most chronic disease deaths each year, killing 17.5 million people, followed by cancer (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million).

Data Bridge Market Research analyses that the point of care diagnostics market is expected to reach the value of USD 68.21 billion by the year 2029, at a CAGR of 9.1% during the forecast period. The rising prevalence of infectious diseases in developing countries is propelling the point-of-care diagnostics market.

Point-of-Care diagnostics are techniques used to make an early and accurate diagnosis of a disease. These techniques are highly sensitive, cost-effective, and yield results in a short period of time. These techniques are used in hospitals, clinics, ambulatory care, home healthcare, and research laboratories.

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Point of Care Diagnostics Market Dynamics

Drivers

The rise in the cases of chronic diseases

Rising incidence of target conditions, rising government support, rising number of clia-waived POC tests, rising healthcare expenditures globally, rising technological advancements and adoption of home-based point-of-care devices, and rising initiatives implemented by government and not-for-profit associations for raising health awareness are the major factors driving the point-of-care diagnostics market, among others

The increase in adoption of latest technologies and growing awareness

Rising technological advancements is the vital factor escalating the market growth, also increasing ising awareness via conferences and events, rising POC tests with multiplexing capabilities, healthcare decentralisation, and emerging markets will create new opportunities for the point-of-care diagnostics market during the forecasted period.

Regulatory Compliance

Maintaining compliance with medical reforms and regulations raises the demand for these solutions. The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the point of care diagnostics market.

Opportunities

Increasing personalised medicine, mass cytometry development, and the combination of cell- and bead-based flow cytometry technologies, improving healthcare infrastructure in emerging markets, and the rise of miniaturised and technologically advanced devices will all create new opportunities for the point of care diagnostics market.

Global Point of Care Diagnostics Market Scope

The point of care diagnostics market is segmented on the basis of type, application and end-uplatform, prescription, end-user, and productser. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Platform

Lateral flow assays

Dipsticks

Microfluidics

Molecular diagnostics

Immunoassays

Others

Prescription

Prescription Based

OTC testing

End User

Professional diagnostic centers

Research laboratories

Home care

Others

Product

Glucose

Cardio metabolic

Infectious disease

Influenza

Hiv

Hepatitis c

Sexually transmitted disease (std)

Healthcare-associated infection (hai)

Respiratory infection

Tropical disease

Other infectious disease

Coagulation, pt/inr activated clotting time (act/aptt)

Pregnancy and fertility

Tumor/cancer marker

Urinalysis

Cholesterol

Hematology

Drugs-of-abuse

Fecal occult

Other poc products

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Point of Care Diagnostics Market Regional Analysis/Insights

The point of care diagnostics market is analysed and market size insights and trends are provided by country, platform, prescription, end-user, and product as referenced above.

The countries covered in the point of care diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the point-of-care diagnostics market due to the growing presence of supportive government bodies that promote point-of-care diagnostics or testing in this region. Asia-Pacific is expected to be the fastest growing region in terms of growth in the point-of-care diagnostics market, owing to rising constant developments by international and local players to meet an untapped market need in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Point of Care Diagnostics Market Share Analysis

The point of care diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to point of care diagnostics market.

Some of the major players operating in the point of care diagnostics market are

Abbott Laboratories (US)

Siemens Healthineers AG (Germany)

Quidel Corporation (US)

F. Hoffman-La Roche Ltd. (Switzerland)

Danaher Corporation (US)

Becton, Dickinson and Company (US)

Chembio Diagnostics (US)

EKF Diagnostics (UK)

Trinity Biotech plc (Ireland)

Instrumentation Laboratory (a Werfen Company) (US)

Nova Biomedical (US)

PTS Diagnostics (US)

Sekisui Diagnostics (US)

Thermo Fisher Scientific (US)

bioMérieux S.A. (France).

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Research Methodology: Global Point of Care Diagnostics Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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