The global point of care diagnostics and testing market size was valued at USD 27.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.25% from 2021 to 2028. The market is set to gain momentum in the coming years on account of the increase in funding by multiple sources, the rising prevalence of target diseases, and the need to address the recent outbreak of coronavirus.
The glucose monitoring kit segment dominates in the global POC diagnostics market. Glucose monitoring devices are used to measure the amount of glucose or sugar level in the blood stream. These devices provide reliable results, which can be used during routine check-ups to interpret risk factors with high sugar and also help in the designing of new diet chart& medications.
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Divisions, such as operating room, cath labs, ICU, emergency room, and neonatal intensive care units, demand the use of POC tests to ensure effective and rapid patient care. The reach of POC diagnostic solution is set to proliferate with the advent of smartphone-oriented healthcare solutions, digital technologies, and embedded vision-based solutions. These are inclusive of miniaturization of devices, sample multiplexing, and introduction of networking technologies. Integration of networking technologies with the POC diagnostic solutions developed in the recent past is primarily targeted towards boosting the specificity and sensitivity of the existing solutions, which is expected to increase its penetration across large-scale medical settings, especially hospitals.
Key Player Mentioned:
- Qiagen
- Danaher Corp.
- Becton Dickinson (BD)
- Biomerieux SA
- Abbott Laboratories
- Siemens Healthcare AG
- Zoetis, Inc.
- Instrumentation Laboratory
Product Segment Analysis:
- Glucose Testing
- Hb1Ac Testing
- Coagulation
- Fertility
Application Segment Analysis:
- Hospitals
- Home
- Assisted Living Healthcare Facilities
- Laboratory
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Regional Segment Analysis:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Point of care glucose monitors assists in regular monitoring of blood glucose, which further enables doctors to design an effective therapy. Over-the-Counter (OTC) or rapid tests and prescription tests are the POC tests that are useful for the determination of blood glucose levels in hospitals and other POC settings. The growing prevalence of diabetes and the introduction of portable diagnostic equipment are expected to boost the segment growth from 2021 to 2028.
COVID-19 Impact:
The outbreak of the COVID-19 pandemic has significantly increased the demand for antiviral medicines globally. The treatment of novel coronavirus has increased the demand for broad-spectrum Glucose to manage the disease. Remdesivir, favipiravir, oseltamivir, and other combination medicines are highly prescribed for the treatment of COVID-19. Moreover, governments are increasing funding to pharmaceutical companies to develop novel therapeutics against COVID-19. For instance, in June 2021, the U.S. government has announced an investment of more than USD 3 billion to fasten the discovery, development, and manufacturing of antiviral medicines for COVID-19 treatment. The rising incidence of disease coupled with increasing R&D will increase the demand for Glucose in the next 2 to 3 years.
KEY aspects covered in the report include:
- The market size and industry growth rate of the global and regional market across various segments
- The region or the sub-segment that is expected to drive the Point of Care Diagnostics & Testing market in the forecast period 2021-2028
- Key companies operating in the global Point of Care Diagnostics & Testing market and their market share
- The Factors that are estimated to drive the Point of Care Diagnostics & Testing Market growth
- Key opportunities in the Point of Care Diagnostics & Testing market
- Key technological advancements and market trends that shape the market
Good Reasons to Buy a Global Point Of Care Diagnostics & Testing Market Report:
- Offers detailed market breakdown and data triangulation that will help guide the market trends.
- The methodology used in the report gives the absolute authentic data that helps advising whether the market has an opportunity in the upcoming years.
- Provides a detail analysis about the Covid-19 impact on the market and how it will help boost the market in the near future.
- Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
- Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.
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Likewise, end-user segment of the market can be sub-divided into petrochemical and oil & gas industries, food & beverage and agriculture industries, chemical testing laboratories and others.Request a sample of this report @ https://www.adroitmarketresearch.com/contacts/request-sample/718 The global market of laboratory informatics has been segmented by different deployment, product type, end-user and geography.
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Market Size Split by Type
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