Luton, Bedfordshire, United Kingdom, Feb. 25, 2023 (GLOBE NEWSWIRE) --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Point of Care (POC) Market.
Global Point of Care (POC) Market is anticipated to experience moderate growth in the forecast period (2023-2029). Growing at a CAGR of 7.7%, the market value is expected to reach US$ 87.9 billion by 2029-end.
Point of Care (POC) Market overview and Growth in upcoming years
Point of care (POC) is the term used to describe medical testing and monitoring that occurs at or close to the location where patients receive treatment as opposed to in a centralized laboratory. POC testing offers quick results, allowing medical professionals to act quickly and better patient outcomes. POC testing entails a range of medical exams, including those for infectious diseases, blood sugar, and pregnancy. POC testing is being used more frequently in a range of contexts, including clinics, medical offices, hospitals, and even patients' homes.
In the future years, the demand for rapid diagnostic tests, the prevalence of infectious diseases, and the demand for prompt diagnosis and treatment in emergency circumstances are just a few of the factors driving the growth of the global POC market. The COVID-19 pandemic has also added to the growth of the POC market, as the need for rapid testing has increased considerably. As the pandemic continues and as nations fight to contain and mitigate the spread of the virus, the market for COVID-19 POC testing is anticipated to keep expanding.
The expansion of the POC industry is also being fueled by technological advancements. The performance of diagnostic tests at the point of care is becoming simpler for healthcare workers thanks to the development of portable, handheld devices and mobile apps that allow POC testing.
Additionally, as healthcare providers strive to better patient outcomes, the growing emphasis on personalized medicine and the transition to value-based healthcare are anticipated to further propel the growth of the POC market.
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Here are some key points about Point of Care (POC):
- Medical testing and monitoring that occurs at or close to the location of patient treatment is referred to as point of care (POC) testing.
- POC testing offers quick results, allowing medical professionals to act quickly and better patient outcomes.
- POC testing entails a range of medical exams, including those for infectious diseases, blood sugar, and pregnancy.
- In the future years, the demand for rapid diagnostic tests, the prevalence of infectious diseases, and the demand for prompt diagnosis and treatment in emergency circumstances are just a few of the factors driving the growth of the global POC market.
- The COVID-19 pandemic has also added to the growth of the POC market, as the need for rapid testing has increased considerably.
Competitive Insight
Some of the notable market players operating in the global Point of Care (POC) market covered in this report are: Abaxis, Inc., Abbott Laboratories, Accubiotech Co, Ltd., ACON Laboratories, Inc., Becton, Dickinson and Company, Danaher Corporation, Chembio Diagnostics, EKF Diagnostics, Trinity Biotech plc, Instrumentation Laboratory (a Werfen Company), Nova Biomedical, PTS Diagnostics, Sekisui Diagnostics, Thermo Fisher Scientific, and bioMérieux S.A, and others.
Recent Developments
Abbott announced the U.S. Food and Drug Administration (FDA) has issued Emergency Use Authorization (EUA) for the fastest available molecular point-of-care test for the detection of novel coronavirus (COVID-19), delivering positive results in as little as five minutes and negative results in 13 minutes. The test will run on the company's ID NOW™ platform, providing rapid results in a wide range of healthcare settings such as physicians' offices, urgent care clinics and hospital emergency departments.
ACON Laboratories, Inc., a worldwide manufacturer of Point-of-care diagnostics, announced the release of the On Call® Express Voice in the US. On Call Express Voice is a convenient, affordable and fully audible Blood Glucose Monitoring System.
Browse the full “Point of Care (POC) Market by Product (Blood Glucose Monitoring, Infectious Diseases, Cardiometabolic Diseases, Pregnancy & Infertility Testing, Hematology Testing, and Others), End-User (Hospital Bedside, Physician’s Office Lab, Urgent Care & Retail Clinics, and Homecare/Self-Testing), and by Region, Global trends and forecast from 2022 to 2029” Report and TOC at https://exactitudeconsultancy.com/reports/9607/point-of-care-poc-market/#table-of-content
Report Segmentation
The market is primarily segmented based on product, application, type, and region.
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Regional Insights:
The global Point of Care (POC) market has substantial growth potential in a number of different geographic areas. Here are some regional industry insights for POCs:
The biggest market for POC testing is in North America, where there are many well-established healthcare facilities, technological developments, and a growing need for rapid diagnostic tests. The biggest market in the area is the United States, closely followed by Canada.
Europe: The market for POC testing is expanding quickly in Europe as a result of escalating public spending on healthcare facilities, rising demand for quick diagnostic tests, and an increase in the incidence of chronic diseases. The region's principal marketplaces are Germany, France, Italy, and the United Kingdom.
Asia Pacific: The region is anticipated to experience substantial growth in the POC market because of the region's growing emphasis on the construction of healthcare infrastructure, the prevalence of chronic diseases, and the demand for rapid diagnostic tests. The three largest marketplaces in the area are China, India, and Japan.
Latin America: The region's POC testing market is expanding steadily as a result of rising demand for quick diagnostic tests and growing government spending on healthcare facilities. The two biggest marketplaces in the area are Brazil and Mexico.
Middle East and Africa: As chronic diseases become more common and as government efforts to enhance the region's healthcare infrastructure increase, the Middle East and Africa POC testing market is expanding at a moderate rate.
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Quantitative Analysis
- Market size, estimates, and forecasts from 2023 - 2029
- Market size and revenue estimates for product up to 2029
- Market revenue estimates for application up to 2029
- Market revenue estimates for type up to 2029
- Regional market size and forecast up to 2029
- Company financial
What are the Key Data Covered in this Point of Care (POC) Market Report?
- CAGR of the market during the forecast period 2023-2029
- Detailed information on factors that will drive Point of Care (POC) Market growth during the next Six years
- Precise estimation of the Point of Care (POC) Market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the Point of Care (POC) industry across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Point of Care (POC) Market vendors
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/9607/point-of-care-poc-market/#request-a-sample
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