The increasing awareness about importance of proper infrastructure in healthcare set-ups is boosting the global point-of-care diagnostics market, predicts Fortune Business Insights in their new report. The report is titled,” Point-of-care Diagnostics (POC)Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2026”.
According to the report, the market is anticipated to reach US$ 28,379.6 Mn by the end of 2026 from US$ 17,019.5 Mn in 2018. The forecast period is set from 2018 to 2026 and the market is expected to grow at a CAGR of 6.6%.
Key players leading the global Point-of-Care (POC) Diagnostics Market include
- Hoffmann-La Roche
- Johnson & Johnson
- Sekisui Diagnostics, LLC
- Danaher Corporation
- AccuBioTech Co., Ltd.
- Chembio Diagnostic Systems, Inc.
- EKF Diagnostics Holdings plc
- Instrumentation Laboratory (A Werfen Company)
- Nova Biomedical
- PTS Diagnostics
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“Increasing Need for Immunotherapy and Other Therapeutic Methods to Promote Growth”
The rise in geriatric population and their vulnerability towards various are augmenting growth of the global point-of-care diagnostic market. This, coupled with the rising prevalence of infectious diseases, is boosting the market. The rise in disposable income of people worldwide has encouraged them to opt for better healthcare treatment and facilities. This is further prognosticated to fuel the demand for point-of-care diagnostics market in the coming years.
Furthermore, rising incidence of target diseases is propelling the demand for point-of-care treatment methods such as molecular target therapy, immunotherapy, and other therapy methods. Such factors are anticipated to help the market generate better revenue in the years to come.
However, factors such as high cost of installation and high maintenance costs may hamper the market in the long run. Nevertheless, with advancement in technology and new product launches, the market is anticipated to grow remarkably in the years to come.
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“Asia Pacific to Emerge as Fastest Growing Region Backed by Improving Healthcare Settings”
Fortune Business Insights foresees the global market for point-of-care diagnostics to witness the dominance of North America owing to the increasing demand for technologically advanced point-of-care (POC) diagnostic tools and machinery that provided accurate results. As per Fortune Business Insights, the North America market was valued at US$ 6,125.5 Mn in 2018. However, the rapidly increasing and improving healthcare infrastructure in emerging economies of Asia Pacific such as China and India may help the region to emerge as the fastest growing region in the forecast duration.
Major Segmentation for Global Point-of-Care (POC) Diagnostics Market are
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy and Fertility Testing Products
- Hematology Testing Products
By End User
- Hospitals Bedside
- Physician’s Office Lab
- Urgent Care & Retail Clinics
- Home and Self Testing
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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