Market Overview:
Point-of-Care Diagnostics Market size was valued around US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 5% during the forecast period (2022-2029).
Point-of-care (POC) diagnostics are tactics carried out near to the patient. POC diagnostic exams provide rapid findings, which improves affected person care. Applications of point-of-care diagnostics encompass diagnosing and detecting glucose stages, infectious sicknesses, cardiac exams, and amongst others. These gadgets are utilized in hospitals, clinics, and patients’ homes to reply quick to various scientific exams.
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Market Dynamics
The increase in adoption of latest era and growing consciousness predicted to drive market growth.
Rising technological advancements is one of the essential aspect improving the marketplace upward thrust, moreover developing POC exams with multiplexing talents, increasing recognition via meetings and occasions, healthcare decentralisation, and growing markets will create new possibilities for the point-of-care diagnostics for the direction at some point of the forecasting period.
Recall of Point of Care diagnostic gadgets is predicted to impede the marketplace growth.
In October 2021, The US Food and Drug Administration (FDA) warned that sure batches of the Ellume COVID-19 Home Test furnished fake advantageous findings due to a production fault. The enterprise voluntarily recalled specified quantities of its Covid-19 antigen take a look at, which obtained Emergency Use Authorization (EUA) in December 2020. Nearly 200,000 take a look at kits Ellume has been situation to recall make up approximately 5.6% of the 3.5 million take a look at kits Ellume has shipped to america, with approximately 427,000 test kits stricken by the problem standard. Thus, from the above elements, the market is predicted to be hampered inside the forecast duration.
Market Segmentation:
By Product Type
- Glucose Monitoring Products
- Cardiometabolic Monitoring Products
- Infectious Disease Testing Products
- Coagulation Monitoring Products
By Platform
- Lateral Flow Assays
- Immunoassays
- Microfluidics
- Dipsticks
By Mode of Purchase
- OTC Testing Products
- Prescription-Based Testing Products
By End user
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Home Care
Competitive Landscape
Major key players in the point-of-care diagnostics market are F. Hoffmann La-Roche Ltd., Abbott, Siemens Healthcare GmbH, Quidel Corporation, Cepheid, BD, Thermo Fisher Scientific, Biomerieux, Chembio Diagnostics, Inc., EKF diagnostics.
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