Dallas, Texas, May 19, 2021 (GLOBE NEWSWIRE) -- The “Global Point of Care Testing for Infectious Diseases Market Size 2019, By Infection Type (HIV, Clostridium difficile, HBV, Pneumonia or Streptococcus associated infections, RSV, HPV, Influenza/Flu, HCV, MRSA, TB, HSV and Others), By Usage Area (Hospitals, Clinica, Clinical Laboratories, Assisted Living Facilities, Others), By Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global point of care diagnostics for infectious diseases market is anticipated to reach a value of USD 2.2 billion by 2025, growing at a CAGR of 9.1% during the forecast period from 2019 to 2025. Recent pandemic crisis and the consistent growth in incidence of infections, along with the growing trend of consumer centric services to patients contribute to the growth of this market. Furthermore, appropriate deployment of point of care testing at healthcare and inpatient settings also allow in cost containment in the long run to hospital as it efficiently assists in reducing lead time for diagnosis, patient stay and ultimately healthcare cost.
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Additionally, growing prevalence in pediatric and geriatric populations along with increasing pool of this population sets are also attributes to the increased demand for point of care diagnostic tools for infections. Further innovation and technological advancements will open up new opportunistic avenues for market development.
Adroit Market Research report on global point of care testing for infectious diseases market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global point of care testing for infectious diseases market have been studied in detail.
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Point of care testing refers to diagnostic procedures performed at patient site for providing swift test results. Diagnosis of infections such as tuberculosis, influenza, STDs, and HIV along with some tropical diseases has become a convenient affair through POC testing and thus has also resulted in disease containment and public health management to a considerable extent. These tests enable prompt access to care while reducing the risk of disease transmission. Furthermore, POC testing also assists in efficient disease management in remote areas. The latest developments in the nature of diagnostic technologies and delivery of healthcare services have led to significant growth in demand for point of care tests for infection diagnosis in public healthcare services.
Geographically, North America dominates the global point of care infectious disease diagnostics market. High awareness, better availability of POC kits, and high incidence of infections in the region. Asia Pacific, despite its large population base and high incidence of infectious diseases, especially those like tropical diseases, has not yet reached the market status as North America. However, the growth of Asia Pacific market has been picking pace and is anticipated to witness a continued trend through the forecast period. China and Indian markets will spearhead the growth in Asia Pacific, through attributes such as growing awareness, rapid development of healthcare infrastructure, improving purchasing power and growing funding of domestic governments.
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Introduction of novel point of care testing technologies such as lab on chip and microfluidics will open new market development opportunities in the future. Additionally, changes in regulatory environment in terms of speeding up the process of approval will further render to the market growth. Major companies operating in the point of care testing for infectious diseases market are Thermo Fisher Scientific Inc., Alere Inc., Chembio Diagnostic Systems Inc., Trinity Biotech plc, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., bioMérieux SA, Bio-Rad Labs Inc., Cardinal Health, BD & Company, Ortho-Clinical Diagnostics and others.
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Major Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Point of Care Testing for Infectious Diseases Market by Product, 2015-2025 (USD Million)
5. Point of Care Testing for Infectious Diseases Market by Usage Area, 2015-2025 (USD Million)
6. Point of Care Testing for Infectious Diseases Market by Region 2015-2025 (USD Million)
7. Competitive Landscape
8. Company Profiles
9. Appendix
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