Point-of-Care Diagnostics Market Size, Share, Trends, Analysis and Forecast by Region, Segment, Product (Glucose Monitoring Products, Infectious Disease Testing Products) and Platform (Lateral Flow Assays, Immunoassays), 2022-2027
LONDON, UK, October 24, 2022 /EINPresswire.com/ — The global point-of-care diagnostics market size reached USD 36.99 billion in 2021, according to a new report by GlobalData Plc. The increasing prevalence of infectious diseases in developing countries, the rising incidences of lifestyle diseases such as cardiac diseases and diabetes, the rising usage of home-based point-of-care devices, and technological advancements in molecular testing, have been key factors contributing to the overall market growth. In addition to this, the pandemic created massive opportunities for point-of-care diagnostics thereby driving market growth worldwide.
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Rising demand for rapid diagnostics in the healthcare sector has led to the research and development of numerous point-of-care diagnostic devices and technologies. Researchers across the globe are studying and reporting novel techniques that have the potential to be translated into POC diagnostic devices. In the case of developing countries, there is a huge need for the point-of-care technique, especially for the detection of infectious diseases. GlobalData expects point-of-care will be highly adopted in rural areas in the next few years.
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Point-of-Care Diagnostics Market Report Highlights
• The global point-of-care diagnostics market is projected to witness a CAGR of 11.92% from 2021 to 2027, reaching a value of $72.26 billion. The market is set to gain thrust during the forecast period on account of the increase in funding from multiple sources to develop novel products and the requirement to address the outbreak of COVID-19.
• In 2021, the glucose monitoring products segment of the point-of-care diagnostics market is estimated at US$14,836.54 million in 2021 and is forecast to reach US$29,629.11 million by 2027, growing at a CAGR of 12.33%.
• The lateral flow assays segment of the point-of-care diagnostics market is estimated at $14,170.56 million in 2021 and is expected to grow up to $28,545.12 million by 2027, growing at a CAGR of 12.49%.
• Extensive and systematic testing is the only way to avoid extensive lockdowns. Therefore, the market has witnessed an increase in investment and funding for the development of point-of-care testing, which will boost the market growth during the forecast period.
• North America closely followed by Europe captured over 40% of the overall point-of-care diagnostics share in 2021. Vendors in these regions are launching various technology-based products, thereby accelerating market growth.
• The point-of-care diagnostics market key players analyzed as part of this report are Abbott, Danaher, Roche, EKF Diagnostics, and Quidel, among others
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GlobalData Plc has segmented the point-of-care diagnostics market report by products, platform, and region:
Global point-of-care diagnostics products Outlook (Revenue, USD Million, 2020-2027)
• Glucose Monitoring Products
• Infectious Disease Testing Product
• Cardiometabolic Monitoring Products
• Pregnancy & Fertility Testing Products
• Hematological Disorders
• Others
Global point-of-care diagnostics platform Outlook (Revenue, USD Million, 2020-2027)
• Lateral Flow Assays
• Immunoassays
• Microfluidics
• Dipsticks
• Molecular Diagnostics
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Point-of-care Diagnostics Regional Outlook (Revenue, USD Million, 2018-2026)
• North America
• US
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
Related Reports
• https://www.globaldata.com/store/report/remote-patient-monitoring-devices-theme-analysis/
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