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Global Point-of-Care Diagnostics Market to Grow at 9.06% During 2022-2027, Impelled by Growing Prevalence of Infectious Diseases

Published on Jun 03, 2021

According to the latest report by IMARC Group, titled “Point-of-Care Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global point-of-care diagnostics market reached a value of US$ 41.1 Billion in 2021. Point-of-care diagnostics (POCD) enable medical practitioners and physicians to rapidly analyze various diseases and achieve real-time results through portable blood analyzers. POCD devices are utilized for diagnosing oxygen saturation, temperature, blood pressure and electrocardiogram (ECG). These diagnostic tests include various disposable kits, reusable handheld devices, multifunctional benchtop devices. Point-of-care testing (POCT) helps to diagnose a disease at an early stage, which enables faster decision-making regarding the treatment response and simplifies procedures and processes.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Point-of-Care Diagnostics Market Trends:

The increasing prevalence of various acute and chronic diseases, such as cardiac diseases, hepatitis, cancer, gastrointestinal ailments, respiratory and sexually transmitted diseases (STDs), is one of the major factors driving the global POCD market. In line with this, the outbreak of coronavirus disease (COVID-19) has escalated the demand for rapid testing kits across the globe, which is fueling the market growth. Moreover, governments of various countries are undertaking initiatives to support the adoption of POCT devices to rapidly diagnose infectious diseases, such as human immunodeficiency virus/acquired immunodeficiency syndrome (HIV/AIDS), which is contributing to the market growth. Other factors, such as the growing preference for home-based healthcare and self-testing, technological advancements and increasing healthcare expenditure, are further creating a positive outlook for the market. Looking forward, the market is expected to exhibit a CAGR of 9.06% during 2022-2027.

Market Summary:

  • On the basis of the product type, the market has been segmented into blood-glucose monitoring kit, cardio-metabolic monitoring kit, pregnancy and fertility testing kit, infectious disease testing kit, cholesterol test strip, hematology testing kit and others. Amongst these, blood-glucose monitoring kits are the most popular product type.
  • Based on the platform, the market has been divided into lateral flow assays, dipsticks, microfluidics, molecular diagnostics and immunoassays.
  • On the basis of the prescription mode, the market has been bifurcated into prescription-based and OTC testing.
  • Based on end-user, the market has been classified into professional diagnostic centers, home care, research laboratories and others.
  • On a regional basis, the market has been spread across North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa. Currently, North America represents the largest market for POCD.
  • The competitive landscape of the market has also been examined, with some of the key players being Abbott Laboratories, Beckman Coulter, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche AG, Instrumentation Laboratory, Johnson & Johnson, Nova Biomedical Corporation, Pts Diagnostics, Qiagen, Siemens, Trinity Biotech, etc.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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