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Point of Care Diagnostics: Technologies and Global Markets

·4-min read

Report Scope: The current report offers a detailed picture of the point of care diagnostics market. This report highlights the current and future market potential for point of care diagnostics and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities, and trends in the market.

New York, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Point of Care Diagnostics: Technologies and Global Markets" - https://www.reportlinker.com/p05800362/?utm_source=GNW
The report also covers market projections through 2026, as well as key market players.

This report discusses the point of care diagnostics industry and its various resources.It covers the overall point of care diagnostics market including hardware (devices, equipment, consumables (reagents and kits)), software and analytics.

The report further analyzes the market based on test type, providing an analysis of alcohol and drug abuse, BGEM, cardiac markers, cholesterol, glucose monitoring, hemoglobin/hemostasis, infectious disease, pregnancy and fertility, tumor markers, urine chemistry and others. A complete regional analysis of the market is also studied in the report.

Based on geography, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. Detailed analyses of major countries include the U.S., Canada, Germany, the U.K., France, Spain, Italy, Japan, China, and India. For market estimates, data have been provided for 2020 as the base year, with forecasts for 2021 through 2026. Estimated values are based on product manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars that have not been adjusted for inflation.

Report Includes:
- 59 data tables and 40 additional tables
- An overview of the global markets and technologies for point of care (POC) diagnostics within healthcare industry
- Estimation of market size and analyses of global market trends, with data from 2019, 2020, estimates for 2021 and projections of compound annual growth rates (CAGRs) through 2026
- Evaluation of current market trends, and technological advancements within the industry and market share analysis by test type, product, end user, and region
- Coverage of novel approaches for the POC; discussion on significance of CLIA in the United States and FDA’s role in POC testing; and information on laser PCR
- Detailed description about COVID-19 impact on MedTech and medical tourism, discussion on FDA’s contribution to COVID-19 diagnostic testing and synopsis of FDA-Associated testing milestones since May 2020
- Detailed analysis of relevant R&D activities, new products launches and product enhancement in the industry, clinical trials, and discussion of regulatory elements that are affecting the future marketplace
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Company profiles of major players of the industry, including Abbott, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Medtronic plc, Chembio Diagnostics Inc. and Philips Healthcare

Summary:

Globally, the diagnostic testing business is a multi-billion-dollar industry with intense competition and areas of high growth.The United States is the world’s largest single market for diagnostic testing.

This study focuses on POC testing, which is one of the most active segments within the diagnostic industry.

POC testing is growing in both home use and POC testing near-patient applications. Both segments are included in this market study.

The global market for point of care diagnostics was valued at $REDACTED billion in 2020.The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED% to reach $REDACTED billion by 2026.

The major factor contributing to the growth of the POC diagnostics market is the rising prevalence ofinfectious diseases.POC tests helps to enhance management of infectious diseases, particularly indeveloping countries where it is difficult to access timely diagnosis due to lack of healthcareinfrastructure.

For instance, in 2020, around REDACTED million people globally are living with HIV according to United Nations Program on HIV/AIDS.According to World Health Organization, HIV/AIDS accounted at REDACTED deaths globally that ranked REDACTED in most deadly diseases globally in 2019.

Moreover, lowerrespiratory infection ranked REDACTED in world’s most deadly diseases and accounted for around REDACTED million deaths in 2019. Additionally, funding and grants from government for advancement and development ofinnovative products also contributing towards the adoption of innovative technologies for infectious diseases diagnosis. All such innovation within the market is expected to increase the reach of POC devices to remote areas in developing and under developed countries and make them pocket friendly and can be adopted by economically challenged populace. Increasing prevalence of diabetes and otherchronic diseases is also contributing towards growth in global market.

The strict regulation for approval and commercialization is the primary factor restraining the growth of the market. POC devices are being regulated as other diagnostics devices and In-Vitro devices that are regulated by U.S. Food and Drug Administration (FDA). POC devices are considered by FDA as high risk and therefore require pre-market approval. Strict healthcare standards and high regulatory barriers have significant impact on the introduction of innovative technology. The regulations and standards are strict and requires substantial expertise to navigate; this resulted in increased times for pre-market approval and commercialization process.
Read the full report: https://www.reportlinker.com/p05800362/?utm_source=GNW

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