Market Overview:

According to the research analysis report, the Point of Care Diagnostics Market value was worth USD 22.7 Billion in 2018, and it is estimated to reach USD 36.16 Billion by the end of 2023 with a CAGR of 9.76% from the forecast period 2018-2023. Point of care diagnostics allows a speedy, convenient, and cost-efficient way to diagnose diseases at healthcare centers and hospitals. The point-of-care diagnosis is a term collectively used for diagnostic procedures and tests performed on-site. As compared to conventional in-laboratory tests, point-of-care diagnostics have the advantage of speed and convenience without compromising on consistency. The speed factor, especially, is the greatest attribute of point-of-care diagnostics, because faster diagnosis facilitates faster patient management. Point-of-care diagnostics help cut down on the need for sophisticated diagnostic systems for regular tests like blood tests and urine tests.

Market Drivers and Restraints:

Clinics and other healthcare establishments, to provide useful and fast diagnostic results, are opting for the point-of-care test, which is consequently influencing industrial growth. Advances in technology and the introduction of cost-effective and high-quality medical solutions aimed at achieving miniaturization and lab automation are expected to serve the point-of-care diagnostics market as a vital driver. Moreover, rising levels of patient awareness are expected to play a key role behind the growth because patients, particularly the ones suffering from long-term diseases such as diabetes, are actively participating in the shift relating to the implementation of point-of-care diagnostic practices.

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Report segmented as

By Product Type:

• Infectious Diseases
• Cardiac Markers
• Oncology Markers
• OTC Diagnostic Tests
• drugs of abuse
• Blood Gas Testing
• Fertility Testing
• Urinalysis
• Coagulation
• Hematology
• Glucose Monitoring
• Ambulatory Chemistry
• Decentralized Clinical Chemistry

By End-Users:

• clinics
• hospitals
• home healthcare
• ambulatory care settings
• laboratories

By mode of delivery:

• OTC
• Prescription modes of delivery

Geographical Analysis:

North America is expected to dominate the overall market in the next five years owing to the presence of premium healthcare infrastructure, established reimbursement framework, and high healthcare affordability in this region. Moreover, the presence of high levels of awareness amongst the patient population base as well as the physicians associated with fast disease diagnosis is supportive in the industrial revenue. However, emerging markets such as China, India, and Brazil offer high growth potential for companies involved in the development and distribution of point-of-care diagnostic devices. Increasing initiatives by market players, growing patient population base, and rise in the number of partnerships and joint ventures among point-of-care providers are the key factors driving the growth of point-of-care diagnostics market in emerging countries.

Important Market Players:

Some of the major players in the Point-of-care diagnostics Market are Abbott Laboratories, Inc. Danaher Corporation, Roche Diagnostics Limited, BioMerieux, Siemens Healthcare, Beckman Coulter, Inc, Becton, Dickinson and Company, Johnson & Johnson, Alere Inc, PTS Diagnostics.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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