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New study: Rising spending on diabetic treatment to foster the growth of point of care (POC) diagnostics devices market in future

New study: Rising spending on diabetic treatment to foster the growth of point of care (POC) diagnostics devices market in future

Point of care diagnostics is performed outside the laboratory where the patient is receiving care. Point of care diagnostics accomplished by non-laboratory persons and the results are used for medical decision making.

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 “Global Point of Care (POC) Diagnostics Devices Market Analysis & Opportunity Outlook 2021

The global point of care (POC) diagnostics devices market is segmented into product type such as infectious disease testing kits, pregnancy and fertility testing kits, glucose monitoring testing kits, coagulation monitoring kits, hematology testing kits, cardiac makers, cholesterol test strips, fecal occult testing kits, food pathogens testing kits, tumor/cancer testing kits, urinalysis testing kits and others. Among these segments, glucose monitoring testing kits segment is expected to occupy top position in overall point of care (POC) diagnostics devices market during the forecast period.

Surged adoption of glucose monitoring testing kits by diabetic patients is the major factor behind the growth of the glucose monitoring POC testing device segment. Furthermore, increasing number of diabetic patients across the globe is expected to augment the growth of POC glucose monitoring diagnostics device market.

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Global point of care (POC) diagnostics devices market is expected to flourish at a CAGR of 9.2% over the forecast period. Moreover, the global point of care (POC) diagnostics devices market is anticipated to garner USD 29.5 Billion by the end of 2021.

Increasing penetration of chronic diseases and rising geriatric population are some of the major factors which are anticipated to impel the growth of point of care (POC) diagnostics devices market over the forecast period.

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North America dominated the overall market of point of care (POC) diagnostics devices, with a market share of 47% and is expected to continue its dominance over the forecast period. Factors such as high spending on healthcare and developed healthcare infrastructure are anticipated to garner the growth of the point of care (POC) diagnostics devices market in North America region.

Asia Pacific is anticipated to showcase highest growth over the forecast period. Government initiatives to reduce the cases of targeted diseases and growing healthcare infrastructure in the region is expected to bolster the growth of point of care (POC) diagnostics devices market.

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Rising Prevalence of Chronic and Infectious Disease

Growing penetration of several infectious and chronic diseases such as cardiac diseases, hepatitis and other diseases are anticipated to positively impact the growth of point of care (POC) diagnostics devices market. Moreover, rising commonness of medical diseases and conditions such as hypertension and diabetes is anticipated to drive the growth of point of care (POC) diagnostics devices market.

Increased Public Awareness

Rising awareness among population regarding the prevention of diseases is expected to strengthen the growth of point of care (POC) diagnostics devices market during the forecast period. Apart from this, technological advancement coupled with decline in the cost of POC diagnostic devices is also anticipated to foster the growth of point of care (POC) diagnostics devices market.

Although, stringent government regulations for approval of POC diagnostic devices and insufficient reimbursement policies are some of major factors which are likely to inhibit the growth of the global point of care (POC) diagnostics devices market in the near future.

The report titled “Global Point of Care (POC) Diagnostics Devices Market Analysis & Opportunity Outlook 2021delivers detailed overview of the global point of care (POC) diagnostics devices market in terms of market segmentation by product type, by type, by technology, by end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global point of care (POC) diagnostics devices market which includes company profiling of Abbott Point of Care Inc., Siemens Medical Solutions Inc., Becton Dickinsons & Company, Danaher Corporation, Roche Diagnostics, Beckman Coulter Inc., Nova Biomedical, Bayer AG, Alere and International Technidyne Corporation.  The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global point of care (POC) diagnostics devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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