As per the published report, the global point of care (POC) diagnostics and testing market size is estimated to arrive at USD 35.74 billion by 2028. It is projected to develop by 3.25% CAGR in the period of the forecast.
Point of care diagnostics has considerably changed the remedial patterns, useful for the treatment of the patients suffering with Cardiovascular Disorders (CVDs), diabetic patients and HIV patients, during the most recent days. Besides, rising improvements on the scope are expected to improve the medication workflows for cancer, transmittable illness as well as strokes.
The industry is positioned to observe, well-paid development, since point of care diagnostics provides a cost-effective option for the time-honored laboratory examination. Point-of-care apparatuses are intended to present information at the site and moment of patient treatment. This facilitates first diagnosis of the illness.
The implementation of telemedicine in distant patient examination, miniaturized technology, incessant POCT and the introduction of minimally invasive & non-invasive point of care diagnostics apparatuses, are some of the important things encouraging the expansion of the point of care diagnostics & testing market.
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Further key findings from the report suggest:
• North America was the most important provincial market, and it retained above 34% revenue share in 2020. The region was led by the U.S.
• In March 2020, the initial point of care diagnostics test for COVID-19 was accepted by the U.S. FDA, beneath Emergency Use Authorization. This was produced by Cepheid. The major companies of this market are busy in improving and creating such type of tests, which sequentially increasing the expansion of the subdivision.
• The sector for infectious disease products is estimated to hold the maximum share of revenue by 2028. Mainly, this enlargement is credited to the worldwide COVID-19 pandemic.
• Due to the rising changeover from traditional lab test to point of care diagnostics by healthcare experts, to curtail the time in use for analysis and more actions, the clinics end-use segment retained the leading share of revenue in 2020. It is expected to further develop by a stable CAGR for the duration of the forecast.
• Owing to the soaring demand for the point of care diagnostics glucose monitors, for regular testing of glucose level of the diabetic patients, caused by the augmented figure of diabetic patients through the world, the glucose testing product sector headed the market in 2020.
Million Insights segmented the global POC diagnostics & testing market based on End Use, Product and Region.
POC Diagnostics & Testing Product Outlook (Revenue, USD Million, 2017 - 2028)
• Glucose Testing
• Hb1Ac Testing
• Infectious Diseases
• Clostridium Difficile
• Pneumonia or Streptococcus Associated Infections
• Respiratory Syncytial Virus (RSV)
• TB and Drug-Resistant TB
• Other Infectious Diseases
• Cardiac Markers
• Thyroid Stimulating Hormone
• Primary Care Systems
• Decentralized Clinical Chemistry
• Lipid Testing
• Cancer Marker
• Blood Gas/Electrolytes
• Ambulatory Chemistry
• Drug Abuse Testing
POC Diagnostics & Testing End-use Outlook (Revenue, USD Million, 2017 - 2028)
• Pharmacy & Retail Clinics
• Physician Office
• Urgent Care Clinics
• Non-practice Clinics
• Assisted Living Healthcare Facilities
POC Diagnostics & Testing Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
• South Africa
• Saudi Arabia
Various companies for point of care diagnostics and testing market are:
• Spectral Medical, Inc.
• Orasure Technologies, Inc.
• Trinity Biotech
• Trividia Health, Inc.
• Instrumentation Laboratory
• Siemens Healthcare AG
• Biomerieux SA
• Danaher Corp.
• F. Hoffmann-La Roche Ltd.
• Nipro Corp.
• Sekisui Diagnostics
• Quidel Corp.
• Nova Biomedical
• Zoetis, Inc.
• Abbott Laboratories
• Becton Dickinson (BD)