Dublin, Jan. 04, 2021 (GLOBE NEWSWIRE) -- The "Point-of-care Diagnostics Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The point-of-care diagnostics market is expected to register a CAGR of 9.8%, over the forecast period. One of the major factors responsible for the growth of the market is the rising prevalence of chronic and infectious diseases in developing economies. The prevalence of chronic diseases, like diabetes, rheumatism, or cancer, is increasing globally, due to various reasons, such as an increase in the geriatric population, sedentary lifestyles, unhealthy food habits, and environmental factors. For instance, chronic diseases kill more than 38 million people each year, globally. Cardiovascular diseases account for most chronic disease deaths, or 17.5 million people, annually, followed by cancers (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million). The aforementioned diseases account for 82% of all chronic disorder deaths. Point-of-care diagnostics is gaining wide acceptance by different patients across the world, as samples are collected from the patient's location for performing tests, and the results can be achieved in very less time, due to the use of micro fluids, chips, and nano diagnostics.
Factors, such as the increasing number of regulatory approvals for novel immunoassay techniques, technological advancements, and the rising usage of home-based POC devices, are expected to drive the market growth, over the forecasted period.
Key Market Trends
Blood Glucose Testing is Expected to Hold Major Revenue Share in the Type of Product Segment
Blood glucose testing point-of-care diagnostics captured the largest share in 2019, due to the success of hand-held glucose meters, owing to their high adoption rate among the population across the world. Periodic monitoring of glucose level is of vital importance for diabetic patients, which has encouraged the adoption of POC among diabetic patients in this segment. Other advantages associated with hand-held glucose meters are the portability and easy operability. The rising prevalence of diabetes across the world is expected to boost the segment growth in the future.
North America Dominates the Market and is Expected to do Same in the Forecast Period
Currently, North America dominates the market for point-of care-diagnostics, and is expected to continue its stronghold for a few more years. In the North America region, the United States holds the largest market share. This can be majorly attributed due to the growing geriatric population base in the country, as well as the factors, such as the increasing prevalence of diseases and the favorable government regulations and initiatives undertaken for the development of healthcare infrastructure.
The point-of-care diagnostics market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With rising prevalence of diseases and increasing number of aging population, other players are also expected to enter the market. Some major players of the market are Abbott, Siemens AG, Becton, Dickinson and Company, Johnson and Johnson, and F. Hoffmann-La Roche Ltd, among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Chronic and Infectious Diseases in Developing Economies
4.2.2 Increasing Number of Regulatory Approvals for Novel Immunoassay Techniques
4.2.3 Technological Advancements
4.2.4 Rising Usage of Home-based POC Devices
4.3 Market Restraints
4.3.1 Product Recalls by Major Players Demotivate New Entrants
4.3.2 Stringent Regulatory Policies and Reimbursement Issues
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Glucose Monitoring Kit
5.1.2 Cardio-metabolic Monitoring Kit
5.1.3 Pregnancy and Fertility Testing Kit
5.1.4 Infectious Disease Testing Kit
5.1.5 Cholesterol Test Strip
5.1.6 Hematology Testing Kit
5.1.7 Other Products
5.2 By End User
5.2.1 Hospital/Critical Care Setting
5.2.2 Ambulatory Care Setting
5.2.3 Research Laboratory
5.2.4 Other End Users
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Siemens AG
6.1.3 Beckman Coulter Inc.
6.1.4 Becton, Dickinson and Company
6.1.5 Instrumentation Laboratory
6.1.6 Johnson and Johnson
6.1.7 Nova Biomedical
6.1.9 F. Hoffmann-La Roche Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/n4z82y
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