The point-of-care diagnostic test is a medical diagnostic test accompanied outside the laboratory at or near the place where the patient is accepting the care and also defined as bedside testing or near-patient testing. These tests are frequently functioned by the non-laboratory personnel and test results are utilized for the clinical decision making. While these tests are relatively more costly than typical laboratory tests but are appropriate and cost-effective in some clinical situations since these are functioned in the close vicinity to the patient. Whereas, the complication and processes for the POC diagnostics may differ from the manual methodologies to automated analyzers. Moreover, many of the focused key players of this market are making a huge amount of investments for developing the technologies which are effectively used in this which deliver effective treatment and enable the specialists for effective decision making. This also concluded to lead the fastest market growth during the forecasted period.
According to the report analysis, “Point-of-Care Diagnostics Market Outlook” states that there are several key players which are recently functioning in this market more actively for leading the fastest market growth and attaining the highest market share around the globe more positively by doing significant advancements in the technology include Abbott Laboratories, F. Hoffmann-La Roche, Johnson & Johnson, Siemens AG, Danaher Corporation, Qiagen N.V., BioMerieux S.A., Nova Biomedical, Beckton Dickinson and Company, Trinity Biotech plc and other niche players. Whereas, presently, glucose monitoring kits control the global point-of-care diagnostics market. A lot of new players are engaging in this market to provide advanced and innovative products. The key market players are attaining other companies to develop their product portfolio and strengthen their leadership position in the market. Not only this but key players are also introducing the new products to have superiority in the market.
Additionally, The Global Point-of-Care Diagnostics market is expected to witness a significant CAGR of 7.7% during the forecast period of 2018-2024. Whereas, the market in developing countries is predicted to increase at a speedy pace during the forecast period because of accumulative healthcare awareness towards point-of-care diagnostics, rising the healthcare expenditure and increasing the patient pool. Furthermore, on the basis of region, the market is spread across the globe which majorly includes North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is set to be the foremost region for the Point-of-Care Diagnostics market growth followed by Europe, Asia Pacific and the rest of the world.
Although, According to a report released by the Centers for Disease Control and Prevention (CDC), in the US alone presently more than 100 million adults are living with diabetes or prediabetes. Cardiovascular diseases (CVD) account for around 800,000 deaths in the US. In addition, the point-of-care diagnostics market is boasting owing to several aspects such as the increasing the patient base for lifestyle diseases globally, increasing the elderly population, growing the pervasiveness of infectious disease, technological innovations and increasing acceptance of point-of-care diagnostics. Therefore, in the near future, it is expected that the market of point care diagnostics will increase around the globe more significantly over the recent few years.
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