ALBANY, N.Y., April 14, 2022 (GLOBE NEWSWIRE) -- A study by Transparency Market Research (TMR) states that the global point-of-care diagnostics market is prognosticated to expand at a CAGR of 4.7% during the forecast period from 2021 to 2028.
Government authorities of several nations around the world are providing favorable reimbursement policies pertaining to the healthcare. As a result, there has been rise in the adoption of various point-of-care diagnostics services in the recent years. Moreover, many developing nations around the world are investing heavily in the development of their healthcare infrastructure. This factor is creating sizable business prospects for players operating in the global point-of-care diagnostics market.
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Point-of-care Diagnostics Market: Key Findings
- In point-of-care diagnostics devices, a combination of biosensors is used. These devices are gaining traction, as they can assist in advancing the patient care services through remote as well as real-time health monitoring. Moreover, these techniques are being increasing adopted instead of the label-based techniques, which are lengthy and may result into several complexities. Hence, rise in the adoption of such diagnostics devices is propelling the growth of the point-of-care diagnostics market.
- Point-of-care diagnostics are gaining immense popularity among healthcare professionals from across the globe as these devices offer precise, trustworthy, high-quality, and real-time outcomes in a short time. Hence, these diagnostics assist clinicians, physicians, and other healthcare professionals while making quick and precise decisions pertaining to the treatment plan of a patient, notes a TMR study on the global point-of-care diagnostics market. Owing to these factors, the market for point-of-care diagnostics is expected to gain a valuation of US$ 66 Bn by 2028.
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Point-of-care Diagnostics Market: Growth Boosters
- Rise in use of home healthcare services globally is driving sales in the point-of-care diagnostics market
- Increase in prevalence of different transmittable diseases, including malaria and HIV/AIDS is driving demand opportunities in the point-of-care diagnostics market
Point-of-care Diagnostics Market: Regional Analysis
- The point-of-care diagnostics market in North America is prognosticated to maintain its prominent position in the forthcoming years, owing to many factors such as surge in the cases of diabetes, cardiovascular diseases, & cancer, and increase in geriatric population in the region
- The Asia Pacific point-of-care diagnostics market is expected to grow during the forecast period, owing to factors such as increase in regional governments’ initiatives to offer superior healthcare facilities, rise in population, and surge in prevalence of different viral diseases. Moreover, the point-of-care diagnostics market in Asia Pacific is estimated to gain lucrative opportunities due to improving spending power of the regional populace.
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Point-of-care Diagnostics Market: Competition Landscape
- Companies operating in the point-of-care diagnostics market are increasing their investments in R&Ds in order to develop technologically advanced products. Such initiatives are helping companies in new product launches, thereby strengthening their product portfolios.
- Several prominent players operating in the point-of-care diagnostics market are using different strategies such as joint ventures, partnerships, and mergers & acquisitions in order to maintain their position. In addition, such strategies are also helping companies in the point-of-care diagnostics market to boost their production abilities and expand in new regions.
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Point-of-care Diagnostics Market: Key Players
Some of the key players profiled in the report are:
- bioMérieux SA
- Johnson & Johnson Services, Inc.
- Nova Biomedical
- F. Hoffmann-La Roche Ltd.
- Bio Rad Laboratories, Inc.
- Siemens AG
- Danaher Corporation
- Abbott
- Thermo Fisher Scientific, Inc
- Cardinal Health Inc
Point-of-care Diagnostics Market Segmentation
Platform
- Lateral Flow Assays
- Dipsticks
- Microfluidics
- Molecular Diagnostics
- Immunoassays
- Others
Application
- Glucose Monitoring Products
- Cardiometabolic Monitoring Products
- Infectious Disease Testing Products
- Pregnancy & Fertility Testing Products
- Urinalysis Testing Products
- Cholesterol Testing Products
- Hematology Testing Products
- Drugs-of-abuse Testing Products
- Others
End-user
- Hospitals
- Diagnostic Laboratories
- Clinics / Physician Offices
- Home Care
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
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