Point of Care Diagnostics Market Forecast: $54.56 Billion Valuation by 2030 at 7.4% CAGR

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Point of Care Diagnostics Market- by Product (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), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Point of Care Diagnostics market is valued at US$ 29.27 Billion in 2021, and it is expected to reach US$ 54.56 Billion by 2030, with a CAGR of 7.4% during a forecast period of 2022-2030.

The Point of Care diagnostics are methods used to identify an illness early and precisely. These methods have a high degree of sensitivity, are inexpensive, and produce results quickly. These methods are applied in research labs, hospitals, clinics, ambulatory care settings, and home healthcare settings. It has many benefits, including enabling patients to receive a diagnosis in a number of locations, such as a hospital, doctor's office, field, ambulance, or patient's house.

The incidence of chronic and infectious diseases has increased the number of medical tests, increasing the demand for the point-of-care diagnostic market. A rising elderly population around the world is also anticipated to increase demand for the point-of-care diagnostic market. Increased healthcare decentralisation, an increase in point-of-care tests with multiplexing capabilities, raising awareness through conferences and events, and emerging markets will all lead to new opportunities for the point-of-care diagnostics market over the course of the forecasted period. The federal government's increased financing to promote the adoption of these solutions has a more significant impact on the market. Additionally, the need for point-of-care diagnostics is positively impacted by the rise in healthcare spending, improvements in the healthcare infrastructure, and rising demand for extended care delivery. However, point-of-care diagnostics market growth will be hampered by increasing pricing pressure brought on by reimbursement reduction, budgetary restrictions, and increasingly strict and time-consuming regulatory procedures.

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North America is anticipated to be the major contributor to the Point of Care Diagnostics market over the forecast years, followed by Europe. Due to the rapidly growing COVID-19 cases and the existence of essential players in Canada and the U.S., the area will continue its dominant position. Innovations in products and the rise in the incidence of infectious and chronic diseases are the fundamental causes of the growth in this region. Additionally, the Asia Pacific regional market is predicted to increase significantly throughout the forecast period. The market is anticipated to be compelled by the economies' accelerated growth, the rising number of people suffering from infectious diseases, the lowering of regulatory barriers, and the increased accessibility of healthcare services and POC goods.

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

Recent collaborations and agreements in the market:
• In March 2022, Una Health announced a collaboration with Siemens Healthineers to enhance the distribution channel for the Atellica VTLi Patient-side Immunoassay Analyzer in the United Kingdom.
• In December 2021, Color Health and Thermo Fisher Scientific teamed up to provide Texas schools with a k-12 readycheckgo covid-19 screening solution.
• In July 2020, Abbott announced the Panbio COVID-19 Antigens Self-Test, which can detect the SARS-CoV-2 virus in children and adults. The test has received CE Mark approval and is also supported by an ICMR guideline in India.

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Market Segments
Global Point of Care Diagnostics Market, by Product, 2022-2030 (Value US$ Bn)
• 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
• Other PoC Testing Products
Global Point of Care Diagnostics Market, by Platform, 2022-2030 (Value US$ Bn)
• Lateral Flow Assays (Immunochromatography Tests/Lateral Flow Immunoassays)
• Dipsticks
• Microfluidics
• Molecular Diagnostic
Global Point of Care Diagnostics Market, by Mode, 2022-2030 (Value US$ Bn)
• Prescription-Based Testing Products
• Over-the-Counter (OTC) Testing Product
Global Point of Care Diagnostics Market, by End-Users, 2022-2030 (Value US$ Bn)
• Home Care/Self Testing
• Physician offices & Outpatient/Ambulatory Care Settings
• Hospitals
• Research Laboratories
Global Point of Care Diagnostics Market, by Region, 2022-2030 (Value US$ Bn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Point of Care Diagnostics Market, by Country, 2022-2030 (Value US$ Bn)
• U.S.
• Canada
Europe Point of Care Diagnostics Market, by Country, 2022-2030 (Value US$ Bn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Point of Care Diagnostics Market, by Country, 2022-2030 (Value US$ Bn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Point of Care Diagnostics Market, by Country, 2022-2030 (Value US$ Bn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Point of Care Diagnostics Market, by Country, 2022-2030 (Value US$ Bn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Point of Care Diagnostics market
 To receive an industry overview and future trends of the Point of Care Diagnostics market
 To analyze the Point of Care Diagnostics market drivers and challenges
 To get information on the Point of Care Diagnostics market value (US$Bn) forecast to 2030
 Significant investments, mergers & acquisitions in the Point of Care Diagnostics market industry

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.