A new market study, “Global Point Of Care Diagnostics Market By Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
PUNE, MAHARASHTRA, INDIA, December 12, 2019 /EINPresswire.com/ —
Point Of Care Diagnostics Market – 2018-2026
Point Of Care Diagnostics Market
The global point of care diagnostics/testing market was esteemed at USD 18.09 billion out of 2018 and is relied upon to enroll a CAGR of 3.3% over the figure time frame. Constant improvements in R&D exercises to scale down sub-atomic and professional diagnostic tests is foreseen to drive the interest for the devices. What's more, upgrades in lab mechanization methods combined with presentation of financially savvy and great medical arrangements is set to impel the development
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 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 the 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.
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Top Key Players Of Point Of Care Diagnostics Industry:
F. Hoffmann-La Roche
A. Menarini Diagnostics
General Life Biotechnology
Scope of the Report
Development of Electronic Medical Records (EMR) use with Point of Care (POC) diagnostics has improved patient care. EMR encourages transmission of test results from POC devices to research center or medical clinic data framework, limiting the remaining task at hand and errors in wellbeing information.
Moreover, patients and clinicians are progressively disposed towards the utilization of POC diagnostic tests with expanding levels of patient mindfulness about the POC procedures drives the market. Additionally, insignificantly talented professionals effectively use POC devices for conclusion, which fills in as one of the market drivers.
Different elements driving the POC diagnostics/testing market development incorporate rising speculation by numerous open establishments. As provided details regarding November 2018, the Massachusetts Medical Device Development Center set up an inside with the help of USD 7.9 million award from the National Institute of Health (NIH). This middle spotlights on helping financial specialists who are managing point-of-care products and technologies.
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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component
Blood Glucose Testing is Expected to Hold Major Revenue Share in the Type of Products Segment
Blood glucose testing point-of-care diagnostics captured the largest share in 2018, 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 the diabetic patients in this segment. Other advantages associated with hand-held glucose meters are the portability and easy operability. 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.
Decentralization of essential care benefits in different territorial markets and activities by government offices, for example, National Health Service expand the portion development. In February 2018, the National Science Foundation granted USD 10.0 million to the Houston's Rice University for the advancement of a POC arrangement named mHealth gadget.
In any case, locally established POC testing is relied upon to develop as the quickly developing portion during the conjecture time frame. Presentation of efficient and compact POC products for early identification and counteractive action of ailments support the interest of home POC testing section. Additionally, rise of POC in home settings likewise keep up solace level of patients.
he key players working in the market incorporate F. Hoffmann-La Roche Ltd.; Danaher Corporation; Abbott Laboratories; bioMérieux SA; Instrumentation Laboratory SpA; Nova Biomedical; Trividia Health, Inc.; QIAGEN; Becton Dickinson and Company; Sekisui Diagnostics LLC; Quidel Corporation; and Siemens Healthcare GmbH.
Key members take part in commercialization their products through the medical gear merchants that work in a few territorial markets. These are additionally engaged with improvement of increasingly modern seat top testing products, representing huge challenge concerning the dispersion system and market nearness.
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 prevalnce of diseases and increasing number of aging population, other players are also expcted to enter into the market. Some of the major players of the market are Abbott, Siemens AG, Becton, Dickinson and Company, Johnson and Johnson, and F. Hoffmann-La Roche Ltd, among others.
Table of Content: Point Of Care Diagnostics Market 2026
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
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Source: EIN Presswire