Decentralization of Healthcare and Diagnostics to Bode Well for Point of Care Testing for Infectious Diseases Market
The global point of care diagnostics for infectious diseases market is anticipated to reach a value of USD 2.2 billion by 2025, growing at a CAGR of 9.1% during the forecast period from 2019 to 2025. Point of care testing for infectious diseases market is in for magnificent growth, finds out Adroit Market Research in its latest research compilation added to a humongous data archive. Latest research states that this tremendous growth upsurge in point of care testing market is directly proportional to high prevalence of infectious diseases.
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Other additional factors such as novel technologies in point of care detection methods and unprecedented advances in home care and testing practices are also anticipated to keep growth curve steady. Several international institutions vouching for quick and on-time disease identification and diagnostics have fueled advances in point of care testing for infectious diseases. Institutions such as Dpt. of Health and Human Services, US and National Institutes of Health amongst other notable institutions are prioritizing quick and effortless diagnostics with high accuracy, thus pushing further growth into point of care testing for infectious diseases market.
POCTID offerings are gaining prominence as they drive high accuracy besides expediting clinical discretion. Additionally, Point of care testing for infectious diseases practices are very innovative and are highly cost efficient owing to simple architectural settings.
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Primary growth impetus for point of care testing for infectious diseases is decentralization of healthcare, diagnostics and therapeutic practices to address larger patient pools by banishing traditional settings and barriers. Quick therapeutic outcome and timely diagnostics are crucial to achieve milestones in early detection. Pediatric point of care testing for infectious diseases is likely to witness market expansion as players are akin towards reducing patient risks for morbidity and mortality. Essentially, point of acre testing for infectious diseases is the process of testing and diagnostics performed on the site or in the vicinity to expedite results and subsequent decision making for improved healthcare outcome, mitigating risks considerably.
Geographically, North America dominates the global point of care infectious disease diagnostics market. High awareness, better availability of POC kits, and high incidence of infections in the region. Asia Pacific, despite its large population base and high incidence of infectious diseases, especially those like tropical diseases, has not yet reached the market status as North America. However, the growth of Asia Pacific market has been picking pace and is anticipated to witness a continued trend through the forecast period. China and Indian markets will spearhead the growth in Asia Pacific, through attributes such as growing awareness, rapid development of healthcare infrastructure, improving purchasing power and growing funding of domestic governments.
Introduction of novel point of care testing technologies such as lab on chip and microfluidics will open new market development opportunities in the future. Additionally, changes in regulatory environment in terms of speeding up the process of approval will further render to the market growth. Major companies operating in the point of care testing for infectious diseases market are Thermo Fisher Scientific Inc., Alere Inc., Chembio Diagnostic Systems Inc., Trinity Biotech plc, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., bioMérieux SA, Bio-Rad Labs Inc., Cardinal Health, BD & Company, Ortho-Clinical Diagnostics and others.
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Key Segments of the Global Point of Care Testing for Infectious Diseases Market
Infection Overview, 2015-2025 (USD Million)
- Clostridium difficile
- Pneumonia or Streptococcus associated infections
- Respiratory syncytial virus (RSV)
- TB and drug-resistant TB
- HSV (Herpes Simplex Virus)
Usage Area Overview, 2015-2025 (USD Million)
- Home Care
- Clinical Laboratories
- Assisted Living Facilities
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
What does the report include?
- The study on the global point of care testing for infectious disease testing market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of infection types and usage area. Moreover, the study on POC testing for infectious diseases market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
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