March 16th, 2023/Industry News Global/ -- This new report from Stratview Research analyses the Point of Care Diagnostics Market over the forecast period from 2022 to 2028. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Point of Care Diagnostics Market Overview:

The point of care diagnostics market was estimated at US$ 36.6 billion in 2021 and is expected to grow at a CAGR of 7.28% during 2022-2028 to reach US$ ~70.9 billion in 2028.

Drivers

The following are the major players in the point of care diagnostics market:

  • Abbott
  • BD
  • bioMerieux SA
  • Danaher
  • F. Hoffmann-La Roche Ltd.
  • Instrumentation Laboratory
  • Nipro Corp.
  • Nova Biomedical
  • Orasure Technologies, Inc.
  • Qiagen
  • Quidel Corp.
  • Sekisui Diagnostics
  • Siemens Healthcare AG
  • Spectral Medical, Inc. 
  • Trinity Biotech
  • Trividia Health, Inc.
  • Zoetis, Inc.

Segment Analysis

The market is divided based on product, and end user. On the basis of product, the market is further segmented into glucose testing, hb1ac testing. coagulation testing, fertility/pregnancy, infectious disease, cardiac markers, thyroid stimulating hormone, lipid testing, cancer marker, blood gas/electrolytes, drug of abuse testing, urinalysis/nephrology, and others. The infectious diseases segment is further segmented into HIV POC, clostridium difficile POC, HBV POC, pneumonia or streptococcus associated infections, Respiratory Syncytial Virus (RSV) POC, HPV POC, influenza/flu POC, HCV POC, MRSA POC, TB and drug-resistant TB POC, HSV POC, COVID-19, and others.

The segment with the highest revenue share was infectious disorders. Better patient care has resulted from the transition of infectious disease testing from centralised to decentralised POC testing. The market is being driven by a rise in the demand for rapid tests, which has compelled businesses in the sector to offer POC solutions to decentralised areas. For instance, Abbott launched ID NOW, the fastest molecular POC test in the world, available in a range of decentralised healthcare settings like doctor's offices and urgent care centres. It produces COVID-19 findings in 13 minutes. The rising prevalence of diabetes and the need for ongoing blood sugar monitoring are factors in the segment expansion, which is causing the glucose testing market to expand.  Statistical data from the International Diabetes Federation show that the prevalence of diabetes worldwide will rise to 592 million in 2035.

On the basis of end user, the market is segmented into physician offices and outpatient settings, pharmacy & retail clinics, hospitals, homecare settings, research laboratories, others. The primary sources of revenue for this segment are pharmacies and retail clinics. The main drivers of the expansion of POC diagnostics applications are increasing access to novel diagnostic technology, better healthcare coverage, and affordability. As a result, neighbourhood pharmacies and walk-in clinics have gained recognition as prospective medical facilities that carry out certain lab tests, particularly those for measuring cholesterol and A1C levels of glycosylated haemoglobin. The elder population's greater access to healthcare, the frequency of communicable diseases, and the growing burden on conventional clinics are major drivers of the global market's expansion.

The point of care diagnostics market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Some of the main factors driving this industry include the high accuracy rates linked to the markers and the rising prevalence of target diseases. In addition, the segment is anticipated to have a sharp increase in penetration rates in North America and Europe's developed markets. Over the upcoming years, market expansion is anticipated to be driven by the rising elderly population and the prevalence of disease-promoting lifestyle practises in these nations.

Get access to a deeper coverage of the impact of COVID-19 on this Market here: https://www.stratviewresearch.com/Request-Sample/3180/point-of-care-diagnostics-market.html#form

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