New York, USA, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The Global Point of Care Diagnostics Market to Progress at a CAGR of 7.99% by 2027, Assesses DelveInsight
The point of care diagnostics market is anticipated to surge in the coming years due to the rising number of patients suffering from various infectious diseases, the rising prevalence of diabetes, the increasing frequency of both chronic and acute diseases, the increasing demand for point of care kits in the diseases management of COVID-19 infection, and the increasing technological advancements associated with the point of care diagnostics.
DelveInsight’s Point of Care Diagnostics Market Insights report provides the current and forecast market analysis, individual leading point of care diagnostics companies’ market shares, challenges, point of care diagnostics market drivers, barriers, and trends, and key point of care diagnostics companies in the market.
Key Takeaways from the Point of Care Diagnostics Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global point of care diagnostics market during the forecast period.
- Notable point of care diagnostics companies such as Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Becton Dickinson and Company, Abbott Laboratories, Quidel Diagnostics, Chembio Diagnostics, EKF Diagnostics, Trinity Biotech, and Fluxergy, Qiagen, Mesa Biotech, Cepheid, Thermo Fisher Scientific Inc., Quest Diagnostics Incorporated, Quidel Corporation, Bio-Rad Laboratories Inc., and several others are currently operating in the point of care diagnostics market.
- On November 22, 2022, Lucira Health, Inc., a medical technology company, announced today that the FDA granted emergency use authorization (EUA) for its Lucira COVID-19 & Flu Test for point-of-care use.
- On November 12, 2022, iHealth Labs received the FDA Emergency Use Authorization for the over-the-counter sale of the COVID-19 Antigen Rapid Test.
- On June 28, 2022, Abbott received the CE Mark for their Panbio rapid antigen self-test, opening access throughout Europe for faster and more reliable COVID-19 testing.
- On October 11, 2022, Takara Bio Europe received CE-IVD Mark for COVID-19 Diagnostic kit, SARS-CoV-2 Direct polymerase chain-reaction (PCR) diagnostic detection kit.
- On February 24, 2022, Cue Health’s point-of-care Covid-19 test had obtained a CE Mark. The Cue COVID-19 test is a highly sensitive and specific Nucleic Acid Amplification Test (NAAT) that works on the Cue Health Monitoring System.
To read more about the latest highlights related to the point of care diagnostics market, get a snapshot of the key highlights entailed in the Global Point of Care Diagnostics Market Report
Point of Care Diagnostics Overview
Point-of-care testing (POCT), also known as near-patient testing (NPT), is a type of testing in which the analysis is performed near the patient or outside the laboratory. Point-of-care testing is also known as physician's office testing (POL), off-site testing, bedside testing, and alternative site testing, among other things. Preparing the samples and safely delivering them to medical laboratories for testing is time-consuming and exhausting. It can also waste time in critical situations, particularly when the patient is being treated without the actual diagnostic results. As a result, point-of-care testing has enabled a simple way to test with quick and reliable results.
Point of Care Diagnostics Market Insights
North America is expected to account for the largest share of the point of care diagnostics market among all regions. This dominance is due to the importance of key growth factors such as the rising prevalence of the geriatric population susceptible to developing chronic diseases such as infectious diseases due to reduced immunity, increasing presence of key players in the region, favorable government scenario, rising awareness associated with self-testing and rising demand for home care testing, growing approvals for point of care diagnostic devices in the North American region, growing focus of the government in terms of providing access to healthcare services catering to such indications will drive the market growth in the region.
Moreover, several collaborations and strategic partnerships between key players, as well as increased adoption of advanced rapid diagnostic solutions in the North American region, will increase demand for POC diagnostic solutions, resulting in an overall increase in the point of care diagnostics market growth.
To know more about why North America is leading the market growth in the point of care diagnostics market, get a snapshot of the Point of Care Diagnostics Market Outlook
Point of Care Diagnostics Market Dynamics
Several factors are driving up product demand in the point of care diagnostics market. The emergence of COVID-19 is one of the significant factors. The increased use of point-of-care diagnostic devices in COVID-19 detection can be attributed to the rising prevalence of COVID-19 worldwide. Furthermore, as the number of diabetic patients grows, so will the demand for point of care diagnostic devices, leading to an increase in overall point of care diagnostic devices market growth.
However, several stringent regulatory policies pertaining to point of care diagnostics and a lack of adoption of point of care diagnostics may limit the point of care diagnostics market.
Additionally, the COVID-19 infection has positively impacted the point of care diagnostics market. Even though the COVID-19 pandemic was unexpected and devastating, the demand for point of care diagnostics was positively influenced, as POC diagnostics were quickly used to detect COVID-19. The rapidly increasing number of COVID-19 cases, combined with increasing pressure on the government to improve patient management, has increased demand for rapid antigen testing kits that can be used effectively in point of care settings. Such rapid detection point of care diagnostic kits are critical in providing accurate disease management options. As a result of the increased demand for quick diagnostic results, patient adoption of point of care devices is constantly increasing.
Get a sneak peek at the point of care diagnostics market dynamics @Point of Care Diagnostics Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Point of Care Diagnostics Market CAGR | 7.99% |
| Projected Point of Care Diagnostics Market Size by 2027 | USD 2.93 Billion |
| Key Point of Care Diagnostics Companies | Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Becton Dickinson and Company, Abbott Laboratories, Quidel Diagnostics, Chembio Diagnostics, EKF Diagnostics, Trinity Biotech, and Fluxergy, Qiagen, Mesa Biotech, Cepheid, Thermo Fisher Scientific Inc., Quest Diagnostics Incorporated, Quidel Corporation, Bio-Rad Laboratories Inc., among others |
Point of Care Diagnostics Market Assessment
- Point of Care Diagnostics Market Segmentation
- Market Segmentation By Product Type: Instruments, Reagents And Kits
- Market Segmentation By Application: Blood Glucose Monitoring, Infectious Disease, Cardio Metabolic Diseases, Pregnancy & Infertility Testing, and Others
- Market Segmentation By Technology: Lateral Flow Assays, Immunoassays, Molecular Diagnostics, and Others
- Market Segmentation By End User: Hospitals, Diagnostic Centers, Home Care Settings, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the point of care diagnostics market are set to emerge as the trendsetter explore @Point of Care Diagnostics Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Point of Care Diagnostics Market |
| 7 | Point of Care Diagnostics Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Point of Care Diagnostics Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the point of care diagnostics market by 2027? Click to get a snapshot of the Point of Care Diagnostics Market Trends
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
