Point of Care (PoC) Diagnostics Market growth outlook remains strong with CAGR of 7.16% through 2025
SOUTHLAKE, TX, UNITED STATES, September 10, 2019 /EINPresswire.com/ — Point of care diagnostics market outlook from OG Analysis is an analytical work that outlines recent POC development, emerging molecular technologies for rapid POC and key approaches adapted by major market players.
Rapidly ageing population, adults and infants with incurable-but-controllable chronic conditions significantly drives the point of care disease diagnostics market growth. POC diagnostics platform provides not only reducing symptoms devices but also enables new independent at-home treatment.
Home-testing medical devices are also on the rise, as the penetration and expansion of POC tests into the over-the-counter consumer market is substantially driving market growth.
Rapid POC diagnostic tests based on microbial antigens, patient antibodies and nucleic acid-based to diagnose infectious diseases are showcasing strong market trend.
Over the past few decades, point of care disease diagnostics market outlook is showcasing huge potential including point of care delivery to outpatient clinics, doctor’s offices, long-term care facilities, emergency services vehicles, and rural institutions.
i-STAT portable system continues to accelerate the point of care diagnostics market growth with Abbott released blood analyzing POC system rapidly being adopted as effective point of care in critical environments ranging from radiology and emergency departments.
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Collaborative works, huge funds, and innovative product portfolio shapes market value through forecast period
To address the challenging task of drug delivery in chronic disease key players are observed receiving huge funds from research institutes and impacting the overall market share.
In 2019, Bill & Melinda Gates Foundation funded Biological Dynamics Inc to support the development of smartphone enabled point-of-care diagnostic solutions for global health.
In 2018, Compumedics, Deakin University, and Diabetes Australia have been funded by victorian department of health and human services to design POC for measuring continuous blood-glucose (HbA1c) coupled with mobile sleep-management capabilities.
To enhance clinical outcomes with portability, connectivity, and quality major OEMs are integrating technology with key focus on rapid treatment decisions at the patient-side.
In 2018, Siemens Healthineers announced FDA approval for blood urea nitrogen (BUN) and total carbon dioxide (TCO2) point-of-care tests to aid in the diagnosis of renal diseases and metabolic imbalances, which delivers quick & informed diagnoses and treatment decisions at the patient-side.
Abbott launched rapid point-of-care Afinion HbA1c Dx assay with cloud connectivity, 2D barcode tracking ability, customizable range settings, and upgraded FDA healthcare tool to aid professionals in the diagnosis and monitoring of patients with diabetes or pre-diabetes.
In addition to market growth for glucose monitoring products, other market products include cardio metabolic testing products, infectious disease testing products, coagulation testing products, pregnancy and fertility testing, tumor testing, urinalysis testing, cholesterol testing, haematology testing, drugs of abuse, fecal occult testing, and others.
Browse Point of Care Diagnostics Market Research Report @ https://www.oganalysis.com/industry-reports/216431/point-of-care-diagnostics-market
POC market growth supports lesser healthcare expenses across regions
To alleviate the economic burden of disease and increase patient survival rates in resource-poor areas, POC market is emerging as strong healthcare sector.
Across Americas and EU, increasing adoption of cardiac markers in emergency departments, growing home-testing market, and the potential for POC devices to accelerate patient care decision-making and reduce in overall hospital stay are among the upcoming market drivers.
The Massachusetts Medical Device Development Center (M2D2) created a new center to help U.S. entrepreneurs develop and commercialize POC technologies for heart, lung, blood, and sleep disorders.
To expand product portfolio across European Countries, in 2018, Mologic Ltd. signed agreements with Medisur and Peripal AG to commercialize PERiPLEX, a rapid POC test for the detection of infection in patients on peritoneal dialysis (PD).
Further, government funds, joint ventures among emerging players, expanding product portfolio and increased awareness about POC systems are bringing much-needed real-time health decision making to underserved populations in low- and middle-income countries.
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Prominent players leading the Point of Care Disease Diagnostics Market
Key players holding strong market share include Abbott Laboratories, Accubiotech, Becton, Dickinson, and Company, Chembio Diagnostics, Danaher Corporation, EKF Diagnostics, Instrumentation Laboratory, Johnson & Johnson, Nova Biomedical, PTS Diagnostics, Siemens and Trinity Biotech.
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Source: EIN Presswire