New York, United States , June 20, 2024 (GLOBE NEWSWIRE) -- The Global Physician Office Diagnostic Market Size is to Grow from USD 101.25 Billion in 2023 to USD 379.25 Billion by 2033, at a CAGR of 14.12% during the projected period.
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A physician's office or other nearby healthcare facility may perform a variety of medical tests and diagnostic techniques to help identify, diagnose, and treat a wide range of illnesses and conditions. These procedures are together referred to as physician office diagnostics. These diagnostics comprise a wide range of tests, including molecular diagnostics, clinical chemistry analysis, urine, immunoassays, and point-of-care testing. Physician-office laboratories are being used by independent practices increasingly frequently to handle the increasing number of patients with chronic conditions. the growing need for point-of-care testing at urgent care facilities and doctor's offices. Point-of-care testing enables prompt diagnosis and rapid test result availability, facilitating prompt medical decision-making and prompt treatment initiation. Furthermore, the capabilities of physician office diagnostics have increased due to the swift progress in diagnostic technologies. However, manufacturers in the physician office diagnostic sector may face difficulties adhering to regulatory criteria, such as obtaining the required certifications and approvals. In addition, several diagnostic tools used in doctor's offices require technological know-how to operate and analyze data. Certain diagnostic methods, such as sophisticated imaging techniques or molecular diagnostics, might be challenging to use, necessitating dedicated staff or specialized training to ensure accurate and genuine results.
Browse key industry insights spread across 250 pages with 110 Market data tables and figures & charts from the report on the “Global Physician Office Diagnostic Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Point-of-Care Testing (POCT) Devices, Clinical Chemistry Analyzers, Immunoassay Systems, Molecular Diagnostics, and Urinalysis Systems), By End-User (Physician Offices & Clinics, Urgent Care Centers, and Ambulatory Care Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The point-of-care testing (POCT) devices segment dominates the market with the largest revenue share through the forecast period.
Based on product type, the global physician office diagnostic market is segmented into point-of-care testing (POCT) devices, clinical chemistry analyzers, immunoassay systems, molecular diagnostics, and urinalysis systems. Among these, the point-of-care testing (POCT) devices segment dominates the market with the largest revenue share through the forecast period. Point-of-care testing is becoming more popular in primary care settings like doctor's offices. Point-of-care testing makes it easier to diagnose patients quickly and get test results quickly, which allows for prompt medical decision-making and the start of therapy.
The physician offices & clinics segment is predicted to grow at a rapid rate in the global physician office diagnostic market during the forecast period.
Based on the end-user, the global physician office diagnostic market is segmented into physician offices & clinics, urgent care centers, and ambulatory care centers. Among these, the physician offices & clinics segment is predicted to grow at a rapid rate in the global physician office diagnostic market during the forecast period. Preventive healthcare and early disease identification are becoming more and more important. With doctor-office diagnostics, early disease, and risk factor identification are crucial for timely management and improved patient outcomes.
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North America dominates the market with the highest market share over the forecast period.
North America dominates the market with the highest market share over the forecast period. Due to its advanced and well-established healthcare system, North America has a large market share for physician office diagnostics. The region is notable for its substantial R&D expenditures in healthcare, quick adoption of cutting-edge diagnostic technology, and favorable reimbursement policies. Over the anticipated period, these variables propel the physician-office diagnostic market's growth in North America.
Asia-Pacific region is expected to grow the fastest during the forecast period. In the Asia-Pacific region, the market for physician office diagnostics is growing rapidly. Some of the drivers driving the market's growth are rising healthcare expenses, greater awareness of early disease detection, and easier access to healthcare services. The primary factors propelling market progress in this sector are the vast populations, rising healthcare expenditures, and increasing need for point-of-care testing solutions in countries like China, India, and Japan. Over the anticipated period, these variables propel the physician-office diagnostic market's rise.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Physician Office Diagnostic Market are Siemens Healthineers AG, Thermo Fisher Scientific Inc., Sysmex Corporation, Bio-Rad Laboratories, Inc., Hologic, Inc., Beckman Coulter, Inc., Trinity Biotech plc, F. Hoffmann-La Roche Ltd, Abbott Laboratories, Danaher Corporation, Becton, Dickinson and Company, Quidel Corporation, Ortho Clinical Diagnostics, BioMerieux SA, EKF Diagnostics Holdings plc. And other Key Vendors.
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Recent Developments
- In October 2023, the EndoCore EBUS-TBNA fine needle biopsy instrument received 510(K) clearances from the U.S. Food and Drug Administration (FDA), according to Praxis Medical, a hospital management consultant.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global physician office diagnostic market based on the below-mentioned segments:
Global Physician Office Diagnostic Market, By Product Type
- Point-of-Care Testing (POCT) Devices
- Clinical Chemistry Analyzers
- Immunoassay Systems
- Molecular Diagnostics
- Urinalysis Systems
- Head & Neck Tumor
- Prostate Cancer
Global Physician Office Diagnostic Market, By End-User
- Physician Offices & Clinics
- Urgent Care Centers
- Ambulatory Care Centers
Global Physician Office Diagnostic Market, By Regional Analysis
-
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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