Point Of Care Diagnostics Market Augmenting Rapidly To Reach USD 40.50 Billion By 2022 – ZMR Blog
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Point Of Care Diagnostics Market Augmenting Rapidly To Reach USD 40.50 Billion By 2022

Some of the major companies in the point of care diagnostics market are Alere Inc ., Roche Diagnostics, Abbott Laboratories, Danaher Corporation, Instrumentation Laboratory, Johnson and Johnson, OraSure Technologies Inc, Trinity Biotech PLC, Qiagen N.V., bioMerieux, and Siemens Healthcare. These players have a lion’s share in the development of point of care diagnostics market.

According to analysts at Zion Market Research, the Global point of care diagnostics market was capitalized at almost USD 23.50 Billion in 2016 and is likely to cross almost USD 40.50 Billion by end of 2022, developing at a CAGR of almost 10.00% from 2017 to 2022.3

High-Quality & Cost-Effective Medical Solutions And Technological Advancement To Power Point Of Care Diagnostics Market In Near Future

As per analysts at Zion Market Research, the point of care diagnostics market is likely to see lucrative development in the years to come. The point of care diagnostics market is mainly powered by high-quality & cost-effective medical solutions and technological advancement. In addition to this, rising occurrence of target diseases paired with the increment in the elderly user base that is more defenseless to diseases are likely to foster the demand for point of care diagnostics market significantly in the coming years. On the other hand, the presence of time-consuming & stringent confusing regulatory structure and high price of procedure are likely to hinder the growth of point of care diagnostics market in the years to come.

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Nevertheless, health care decentralization and rising demand from up-and-coming nations might unlock up new growth opportunities in the years to come. Moreover, new launches by market players is also set to boost point of care diagnostics market. For example, in June 2017, Roche rolled out new mobile app for tablets to additionally enhance the performance for POC (point-of-care) coordinators.

Elevated Occurrence Of Diseases In North America To Suffice The Development Of Point Of Care Diagnostics Market

The point of care diagnostics market was ruled by North America with more than 42% share of the global point of care diagnostics market in 2016. This development is majorly owing to elevated occurrence of diseases in the area and attendance of favorable government initiatives and regulations supporting to the growth of healthcare industry. Asia Pacific is one more significant area for global point of care diagnostics market and is likely to show quickest development in the forecast period. This can be credited to the attendance of technological advancement and high unmet medical requirements in healthcare sector, rise in per capita revenue levels, and growing medical awareness in developing nations including China and India.

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Based on the end-use, the global point of care diagnostics market can be divided into clinics, hospitals, and ambulatory care settings among others.

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