Pune, Sept. 02, 2020 (GLOBE NEWSWIRE) -- According to the report, the Point of Care Diagnostics Market is anticipated to reach US$ 28,379.6 Mn by the end of 2026 from US$ 17,019.5 Mn in 2018. The forecast period is set from 2018 to 2026 and the market is expected to grow at a CAGR of 6.6%.
The increasing awareness about importance of proper infrastructure in healthcare settings is boosting the global market, predicts Fortune Business Insights in their new report. The report is titled,” Point-of-care Diagnostics (POC) Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2026”.
Highlights of the Report:
• Analysis of the impact of Covid-19 that the market would face in the near future.
• In-depth analysis of the growth drivers and obstacles.
• Profile of all the companies operating in the market.
• Elaborate data about the dominating region.
• Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
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Increasing Need for Immunotherapy and Other Therapeutic Methods to Promote Growth
The rise in geriatric population and their vulnerability towards various are augmenting growth of the global point-of-care diagnostic market. This, coupled with the rising prevalence of infectious diseases, is boosting the market. The rise in disposable income of people worldwide has encouraged them to opt for better healthcare treatment and facilities. This is further prognosticated to fuel the demand for Point of Care Diagnostics Market in the coming years.
Furthermore, rising incidence of target diseases is propelling the demand for point-of-care diagnostic methods. Such factors are anticipated to help the market generate better revenue in the years to come.
However, factors such as high cost of installation and high maintenance costs may hamper the market in the long run. Nevertheless, with advancement in technology and new product launches, the market is anticipated to grow remarkably in the years to come.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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Asia Pacific to Emerge as Fastest Growing Region Backed by Improving Healthcare Settings
Fortune Business Insights foresees the global market for point-of-care diagnostics to witness the dominance of North America owing to the increasing demand for technologically advanced point-of-care (POC) diagnostic products that provided accurate results. As per Fortune Business Insights, the North America market was valued at US$ 6,125.5 Mn in 2018. However, the rapidly increasing and improving healthcare infrastructure in emerging economies of Asia Pacific such as China and India may help the region to emerge as the fastest growing region in the forecast duration.
Some of the key players operating in the global Point of Care Diagnostics Market:
- F. Hoffmann-La Roche Ltd
- Johnson & Johnson Services, Inc.
- Dickinson and Company (BD)
- Sekisui Diagnostics
- Instrumentation Laboratory (A Werfen Company)
- Chembio Diagnostic Systems, Inc.
- AccuBioTech Co., Ltd.
- Siemens Healthcare GmbH
- PTS Diagnostics
- Danaher
- Nova Biomedical
- Quidel Corporation
- EKF Diagnostics Holdings plc
- Becton
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Point of Care Diagnostics Market Segmentations:
By Product
• Blood Glucose Monitoring
• Infectious Diseases
• Cardiometabolic Diseases
• Pregnancy and Fertility Testing Products
• Hematology Testing Products
• Others
By End User
• Hospitals Bedside
• Physician’s Office Lab
• Urgent Care & Retail Clinics
• Home and Self Testing
By Geography
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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