Point of Care Diagnostics Market Overview
The worldwide point of care diagnostics market is anticipated to generate more than 36,740.3 million by the end of 2027. Further, the global market is predicted to hold the market value at a CAGR of 11.6% from 2021 to 2027, says Market Research Future (MRFR).
The global point of care diagnostics market is driven due to the increasing need for AI integrated POCs for real-time diagnostics, rising chronic disease cases across the world, and rising demand for COVID-19 POC test kits. However, the stringent regulatory policies might hamper the growth of the global market during the forecast period.
Point of Care Diagnostics Market Segmentation
Segmentally, the point of care diagnostics market has been classified into the mode of purchase, platform, end-users and products.
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Based on the mode of purchase, the global point of care diagnostics market has been segmented into prescription-based and OTC testing products. Here, the prescription-based testing product is used for the test with the doctor’s prescriptions. On the other hand, the OTC testing product is independent of healthcare settings that do not need a prescription. Depending on the product segment, the point of care diagnostics/testing industry has been segmented into Cardiometabolic Monitoring, Infectious Disease Testing, Glucose Monitoring, Coagulation Monitoring, Pregnancy & Fertility Testing, Cholesterol, Cancer/Tumor Marker Testing,
Drugs-of-Abuse Testing, Hematology Testing, Urinalysis Testing, and others. Further, the cardiometabolic monitoring has been sub-segmented into Blood Gas/Electrolyte Testing Products, Cardiac Marker Testing Products, and HbA1c Testing Products. Glucose Monitoring has been sub-divided into Lancets, Strips, and Meters. Coagulation Monitoring has been sub-classified into ACT/APTT Testing and PT/INR Testing. Infectious Disease Testing has been sub-classified into Respiratory Infection Testing, HIV Testing, Sexually Transmitted Disease Testing, Hepatitis Testing, and others.
Based on the platform segment, the point of care diagnostics/testing industry has been segmented into molecular diagnostics, immunoassays, and dipsticks. Here, molecular diagnostics are used to identify disease using molecules like tissue, RNA, DNA, proteins, and fluids. Alternatively, immunoassays are used to measure supplementary substances and particular proteins through their antibody and antigen properties. Further, the dipsticks are extensively used to identify the protein, glucose, and other components in urine. In terms of the end-user segment, the global point of care diagnostics market has been categorized into diagnostic centers, hospitals &clinics, and homecare/self-testing.
Point of Care Diagnostics Market Regional Analysis
Regionally, the point of care diagnostics market has been divided into several regions like North America, South America, Asia Pacific, Europe, and other countries.
Of these, the North American market for point of care diagnostics/testing is dominating the market by generating the largest market share in 2020. This region is expanding due to the supportive government policies, rising demand for remote diagnostics, acquisition of the market leaders by the healthcare giants, and rising market players across the region.
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In April 2021, a nucleic acid-based point of care diagnostic device was launched by the Indian Institute of Technology Kharagpur (India), which has been proposed to diagnose COVID-19. For instance, in June 2021, PortaScience Inc. (US) was acquired by the prominent company DCN Dx(US). It has aimed to expand the company’s point of the care product portfolio.
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