Point of Care Diagnostic Market Overview:
Point of Care Diagnostic Market size was valued at USD 42.53 billion in 2023 and is expected to reach USD 64.80 billion by 2030, at a CAGR of 6.2%.
Point of care Diagnostic is testing that is performed near or at the site of a patient with the result leading to possible change in the care of the patient, which facilitates better disease diagnosis, monitoring, and management. It enables quick medical decisions to diagnose diseases at a very early stage, leading to improved health outcomes for patients by enabling the early start of treatment.
Point of Care Diagnostic Market experiencing significant growth of XX% every year and is expected to continue its growth during the forecast period. F. Hoffmann-La Roche Ltd., Abbott, Danaher, BD, and Qiagen are well-established players in the Point of Care Diagnostic Market. F. Hoffmann-La Roche Ltd.
Point of Care Diagnostic Market Report Scope and Research Methodology
POC tests allow for rapid identification of infectious diseases at the Point of Care Diagnostic, which benefits patients by enabling faster treatment, while public health officials benefit from improved disease surveillance. This comprehensive approach to managing outbreaks enhances individual health outcomes and fosters public health management in areas with high infection rates or restricted access to conventional healthcare facilities., Point of Care Diagnostic is continuously evolving due to the focus on novel infectious risks, which assures quicker response times and better availability for outbreaks in the future. UNITAID, a global health organization announced a USD 30 million investment to accelerate the introduction of advanced diagnostic tools for infectious diseases, to improve access to same-day test results to enable more people to quickly access appropriate treatment. According to the National Center for Biotechnology Information, India has around 2.8 million new tuberculosis cases each year, The market demand for these testing devices is expected to increase due to the growing number of patients with chronic illnesses and the growing awareness of early screening and diagnosis drives the Point of Care Diagnostic Market.
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Point of Care Diagnostic Market Regional Insights
Advanced healthcare infrastructure and favorable reimbursement policies create an environment that is favorable to the integration and utilization of POC devices and the growing aging population with chronic illnesses conditions requires convenient testing options and generally high awareness of POC diagnostics which drives the Point of Care Diagnostic Market. Alzheimer’s is the 5th leading cause of death among Americans age 65 and older in 2023, an estimated 6.9 million Americans age 65 and older are living with Alzheimer’s today with 119,399 deaths in 2021. Fujirebio a global leader in neurology diagnostics, Fujirebio offers established Alzheimer’s Disease diagnostic tools. They are developing POC tests for earlier Alzheimer’s detection or targeting other neurodegenerative diseases.
Point of Care Diagnostic Market Segmentation
Based on Product, Blood Glucose Monitoring dominates the point of care diagnostic market amongst all the product types and currently holds the largest market share of XX% in 2023, this is due to the increasing focus on diabetes management and the development of user-friendly continuous glucose monitoring (CGM) systems are driving growth. According to the International Diabetes Federation, 537 million adults (20-79 years) living with diabetes in 2022, and the diabetes population is expected to increase to 643 million by 2030 and reach 783 million by 2045, treating them costs around 12% of all healthcare spending globally, according to the World Health Organization. Managing diabetes is essential to avoiding complications such as renal failure, heart disease, stroke, and blindness. Patients with diabetes regularly check their blood sugar levels throughout the day by using POC blood glucose meters. Continuous glucose monitoring (CGM) systems are transforming the treatment of diabetes. Compared to conventional finger sticks, these small devices provide a more complete view of glucose changes by providing real-time blood sugar data. According to a report, 129 million people in China currently have diabetes, whereas 82 million people are anticipated to have the disease in India by 2027
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Point of Care Diagnostic Market Key Players
F. Hoffmann-La Roche Ltd. (Switzerland)
Danaher (USA)
BD (USA)
Qiagen (Germany)
Abbott (USA)
Siemens Healthcare AG (Germany)
bioMerieux SA (France)
Zoetis, Inc. (USA)
Instrumentation Laboratory (USA)
Nova Biomedical (USA)
Quidel Corp.(USA)
Trividia Health, Inc.(USA)
Sekisui Diagnostics (Japan)
Key questions answered in the Point of Care Diagnostic Market are:
- What is Point of Care Diagnostic?
- What was the Point of Care Diagnostic market size in 2023?
- What is the growth rate of the Point of Care Diagnostic Market?
- Which are the factors expected to drive the Point of Care Diagnostic market growth?
- What are the different segments of the Point of Care Diagnostic Market?
- What growth strategies are the players considering to increase their presence in Point of Care Diagnostic?
- What are the upcoming industry applications and trends for the Point of Care Diagnostic Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Point of Care Diagnostic Market?
- What segments are covered in the Point of Care Diagnostic Market?
- Who are the leading companies and what are their portfolios in Point of Care Diagnostic Market?
- What segments are covered in the Point of Care Diagnostic Market?
- Who are the key players in the Point of Care Diagnostic market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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