Point of Care/Rapid Diagnostics Market - Trends Forecast Till 2028

Market Overview

The global point of care diagnostics market size is projected to reach USD 50.6 billion by 2025 from USD 29.5 billion in 2020, at a CAGR of 11.4% during the forecast period

Point of care testing refers to medical diagnostic testing that is known to be conducted in ad around the point of care. It allows medical practitioners to achieve precise, lab-quality and diagnostic results in real-time within minutes.

Technological advancements in POC devices, increasing incidence of infectious diseases, and rapid growth in investments by key players are some of the factors that are driving the Market.

The COVID-19 pandemic has significantly affected the point of care diagnostics market. The outbreak of COVID-19 has expedited the global demand for diagnostic kits to rapidly detect thedisease. However, countries across the globe are facing a severe shortage of laboratory-based molecular assays. Thus, many players are emphasizing on increasing the supply of tests worldwide.

Regional Analysis

North America (comprising the US and Canada) dominates point of care diagnostics market. North America is a gaining traction with the increasing incidence and prevalence of lifestyle diseases. Moreoer resence of major key platers in the region, facourable government scenarios, higher awarness of self tetsing and home care products and significant adoption of novel technologies are likely to play a major role in fueling the growth of the point of care diagnostics market in the North America.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Roche diagnostics
• Abbott Laboratories
• Siemens Healthineers
• Becton,
• Dickinson and Company
•  Johnson & Johnson
• Danaher Corporation
• Chembio Diagnostics
• Quidel Corporation
• EKF Diagnostics
• Trinity Biotech
• AccuBioTech
• Nova Biomedical
• PTS Diagnostics
• Instrumentation Laboratory Company
• Sekisui Diagnostics

Recent Developments

• In 2019, Roche Diagnostics FDA approval for the VENTANA PD-L1 (SP142) Assay for identifying triple-negative breast cancer (TNBC) patients.
• In 2019, Abott announced the launch of Affinion HbA1c Dx Assay , a point of care test for diabetes.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Point of Care/Rapid Diagnostics Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope