The glucose monitoring kits is the top investment pocket in the POC testing devices market. This is attributed to its superior performance, innovative, and advanced applications of these kits. Moreover, the increase in adoption rate of glucose monitoring kits and rise in incidences of diabetes and long shelf life of kits would propel the stakeholders to capitalize on the underlying opportunities in this industry.
The global point of care diagnostics market size was valued for $22,975 million in 2015 and is expected to reach $43,336 million by 2022, growing at a CAGR of 9.4% from 2016 to 2022. The point of care (POC) diagnostics defined in this report are the medical devices used to get an immediate result in the investigation (diagnosis & monitoring) of various diseases such as cancer, diabetes, cardiac diseases, and others.
Rising prevalence of various infectious diseases and several initiatives implemented by government and non-government associations for rise in health awareness around the world are the factors majorly driving the point of care diagnostics market growth. The technological advancements in point of care diagnostic devices, introduction of home-based point of care devices; and increase in healthcare expenditure also support the growth of the global point of care diagnostics market. However, stringent government regulations for the product approval and reimbursement issues for the point of care devices restrict the market growth.
Get the PDF brochure of this market study@ https://www.alliedmarketresearch.com/request-sample/161
North America and Europe together accounted for nearly three-fourths share of point of care diagnostics industry in 2015, and is expected to maintain this lead throughout the forecast period. The growth in the point of care diagnostics market size in these regions is attributed to the increased adoption of advanced point of care diagnostic devices, rise in awareness about innovative and advanced applications of point of care diagnostic devices, and rapidly aging population coupled with increase in incidences of diabetes and liver diseases. However, Asia-Pacific is projected to be the fastest-growing region, registering a CAGR of 12.0% during the analysis period. Japan is the leader in the Asia-Pacific point of care diagnostics market. This is mainly due to the increase in awareness of innovative and advanced applications of POC testing devices.
The glucose monitoring kit 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.
Increasing usage of home-based glucose monitoring systems is one of the key trends observed in the point of care diagnostics industry. Several companies are launching innovative and advanced glucose monitoring systems that have increased their adoption rate among the end-users. For instance, Abbott received approval from the Therapeutic Goods Administration (TGA) in Australia for its FreeStyle Libre Flash Glucose Monitoring System, a glucose sensing technology for insulin-using Australians suffering from diabetes.
Do Purchase Inquiry@ https://www.alliedmarketresearch.com/purchase-enquiry/161
According to the International Diabetes Federation (IDF), developing countries, such as India and China, are expected to have the highest number of diabetes mellitus patients compared to developed countries, such as U.S. and Germany. The number of patients with diabetes mellitus is expected to reach 87 million in India and 62.6 million in China compared to 36 million in U.S. by 2030. This increase in incidence of various diseases in various parts of the world is expected to drive the POC diagnostic procedures.
The key players in the point of care diagnostics industry are highly focused to expand their business operations in the fast-growing emerging countries with new product launches as the preferred strategy. The key players profiled in this report include Abbott Laboratories, Siemens AG, F. Hoffmann-La Roche Ltd., Sinocare Inc., Johnson & Johnson, Sysmex Corporation, Nova Biomedical, Danaher Corporation, Becton Dickinson and Company, bioMrieux SA, and Bio-Rad Laboratories.