December 06, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Point of Care Diagnostics Market to 2027 - Global Analysis and Forecasts By Product (Glucose Monitoring Products, Infectious Disease Testing Products, Cardiometabolic Testing Products, Pregnancy and Fertility Testing Products, Coagulation Testing Products, Tumor/Cancer Marker Testing Products, Cholesterol Testing Products, Urinalysis Testing Products, Hematology Testing Products, Other POC Products), by Prescription Mode (Prescription-Based Testing, OTC Testing), End User (Professional Diagnostic Centers, Home Care, Research Laboratories, Others) and Geography’, the worldwide point of care diagnostics market is predicted to amass US $70.89 billion by the year 2027.
Point of care diagnostics (POC) testing is carried out near or at the point of care that is, at place and time of patient care. Factors like new product launches & development, growing number of CLIA-waived POC tests, and rising incidences of infectious diseases over the years are propelling the growth of point of care diagnostics market. However, rising product recalls due to ineffectiveness and erroneous results is presumed to hamper market growth over the forecast period.
According to the report, POC diagnostics market was worth US $26.60 billion in 2018 and is anticipated expand with a CAGR of 11.8% through the year 2027 which will result in the market value of US $70.89 billion.
The worldwide POC diagnostics market is analyzed on the basis of product, prescription mode, and end-user scope. Based on product type, the market is classified as infectious disease testing, glucose monitoring, cardiometabolic testing, pregnancy & fertility testing, tumor/cancer market testing, urinalysis testing, coagulation testing, hematology testing, cholesterol testing, and other products. The glucose monitoring products segment dominated the POC diagnostics market in 2018.
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Considering the prescription mode, the market is fragmented as OTC testing and prescription-based testing. While speaking of end-user scope, point of care diagnostics industry is segmented as home care, research laboratories, professional diagnostic centers, and others.
Prominent companies of point of care diagnostics market are F. Hoffman-La Roche Ltd., Siemens, Abbott, Polymer Technology Systems, Inc., BD, Nova Biomedical, Johnson & Johnson Services, Inc., bioMerieux SA, Danaher, and Bio-Rad Laboratories, Inc.
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