NewsUncategorized

Point of care (POC) Diagnostics Market Share, Trends, Opportunities, Projection, Revenue, Analysis Forecast Outlook 2028

A new market study, titled “Point of care (POC) Diagnostics Market Forecast 2021-2028” has been featured on Fortune Business Insights™.

 

***Get Latest Updated Market Research Report with Free Sample Report

Market Overview

Pune, India, 20th September 2021: The global point of care (POC) diagnostics market size is projected to reach USD 36.21 billion by 2028, exhibiting a CAGR of -1.9% during the forecast period. The prevalence of several chronic disorders and the incorporation of nanotechnology in diagnostic kits are likely to fuel market growth. Fortune Business Insights™ provides this information in its report titled “Point of care (POC) Diagnostics Market, 2021-2028.

Point of care diagnostics are medical tools that are used to cure disorders within patients and ensure a quick recovery. The rising cases of chronic disorders among the population are likely to fuel diagnostic tools’ adoption. As per the information provided by the World Health Organization (WHO) nearly all people globally were affected by tuberculosis in 2019. WHO also reported a fatality of nearly 1.4 million people during 2019. Further, the incorporation of nanotechnology is expected to boost POC diagnostics quality and improve sales. Nanotechnology boosts effectiveness and speeds up the recovery process, which, in turn, may increase the product’s adoption from medical professionals and hospitals. These factors may boost the market progress during the upcoming years.

Request for Free Sample Report PDF @ https://www.fortunebusinessinsights.com/enquiry/sample/point-of-care-diagnostics-market-101072

Developed Patient Based Treatment and Launch of Advanced Diagnostic Solutions to Foster Growth

The rapid incline in chronic disorders is likely to fuel demand for point of care (POC) diagnostics tools. As per the Centers for Disease Control and Prevention (CDC)’s information nearly 115,045 syphilis cases were reported in 2018. Heavy investments in the development of medical and healthcare technology are likely to fuel the product’s adoption. Manufacturers focus on the development of patient-based treatment procedures to improve the effectiveness of diagnostic procedures. For example, Abbott launched its Afinion HbA1c Dx assay in June 2019 and is the first of its kind POC diagnostics test that is approved by the U.S. Food and Drug Administration (U.S. FDA) for diabetes diagnostics. In addition, the launch of advanced POC diagnostic solutions is likely to attract significant demand. These factors are likely to fuel point of care diagnostics market growth.

However, strict regulatory norms are expected to hinder the progress of the market.

Regional Insights

Adoption of Advanced Medical Diagnostic Solutions is Likely to Foster Market Growth in North America

North America is projected to dominate the point of care (POC) diagnostics market share because of the rising demand for advanced medical diagnostic solutions. The market in North America stood at 14.09 billion in 2020 and is projected to grow rapidly during the upcoming years. Increasing investments in the healthcare sector are likely to boost POC diagnostics demand. In addition, strategic collaborations between major players are likely to fuel industry progress.

In Europe, significant investments in diagnostic solutions are likely to fuel POC diagnostics demand. For example, Linear Diagnostics invested approximately USD 2.6 million in November 2019 for the development of optical POC diagnostic solutions to curb sexually transmitted disorders (STD). This factor can influence market growth.

In Asia-Pacific, the entry of several market players in the region’s downtrodden countries is likely to fuel the demand for such diagnostic solutions. Further, the rising adoption of advanced point of care diagnostics in India, and China is likely to fuel its sales. These factors are likely to fuel market progress.

Competitive Landscape

Major Players Announce Innovative Products to Expand Market Reach 

The prominent companies operating in the market announce innovative products to satisfy consumer demand and expand their market reach considerably. For example, Cepheid declared that it is developing Xpert Xpress, SARS-CoV-2/Flu/RSV four-in-one test for the detection of RSV, Flu B, Flu A, and SARS-CoV-2 using a single patient’s sample. This development may enable the company to develop solutions that attract consumer demand and help them to expand their market reach. Further, investments in research and development may enable companies to improve their solutions and utilize nanotechnology, artificial intelligence, and machine learning technologies to improve their product’s effectiveness. This strategy may enable them to improve their brand image drastically.

Industry Development

August 2021: Mylab Discovery Solutions and Hemex Health engaged in a partnership with each other for the development of advanced diagnostic tools for testing chronic diseases and COVID-19.

List of Key Players Profiled in the POC Diagnostics Market Report

  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)
  • Thermo Fisher Scientific Inc. (Massachusetts, U.S.)
  • Abbott Laboratories (Illinois, U.S.)
  • Quest Diagnostics Incorporated (New Jersey, U.S.)
  • BD (Franklin Lakes, U.S.)
  • bioMérieux SA (Marcy l’Etoile, France)
  • Cardinal Health, Inc. (Ohio, U.S.)
  • Mesa Biotech (California, U.S.)
  • Cepheid (California, U.S.)
  • Trinity Biotech (Bray, Ireland)
  • Quidel Corporation (San Diego, U.S.)
  • Bio-Rad Laboratories Inc. (California, U.S.)

Press Release @ https://marketresearchreportsfbi.wordpress.com/2021/10/20/global-point-of-care-poc-diagnostics-market-research-report-by-investment-in-the-medical-industry-opportunity-and-strategies-forecast-2028/

NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

Twitter: https://twitter.com/FBInsightPvtLtd

 

 

 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button