Point of Care Diagnostics Global Market Report 2023

Jan 08, 2024

Major players in the point of care diagnostics market are Abbott Laboratories, Siemens Healthineers AG, Beckman Coulter Inc., Becton, Dickinson and Company, Instrumentation Laboratory Company, Nova Biomedical Corporation, Qiagen Inc.

New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Point of Care Diagnostics Global Market Report 2023" - https://www.reportlinker.com/p06466475/?utm_source=GNW , F. Hoffmann-La Roche Ltd., Biomeriux SA, Quidel Corporation, Orasure Technologies Inc., Johnson and Johnson Inc., Zoetis Inc., Thermo Fisher Scientific Inc., Sysmex corporation, and Sinocare Inc.The global point of care diagnostics market is expected to grow from $40.89 billion in 2022 to $44.19 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The point of care diagnostics market is expected to reach $60.45 billion in 2027 at a CAGR of 8.1%.The point of care (POC) diagnostics market consists of sales of blood glucose meters, pregnancy test kits, and cardiac markers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Point of care (POC) diagnostics refers to medical testing that can be performed at or near the site of patient care. It is used to provide fast and accurate results that can be used to guide immediate patient care decisions.North America was the largest region in the point of care diagnostics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in the point of care diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main product types of point of care diagnostics include glucose monitoring kits, infectious diseases testing kits, pregnancy and fertility testing kits, haematology testing kits, cardiometabolic monitoring kits, urinalysis testing kits, cholesterol test strips, and others.Glucose monitoring kits refer to medical devices used to measure the levels of glucose (sugar) in a person's blood.They are prescribed based on OTC (over the counter) based devices and prescription based devices for use by various end-users such as professional diagnostic centers, research laboratories, home care and others.The increasing prevalence of chronic and infectious diseases is driving the point of care (POC) diagnostics market forward.Chronic diseases are diseases that progress slowly over time and usually last 3 months or longer.Point-of-care diagnostics is very useful in the easy management of chronic diseases and is widely used because of the convenience factor.For instance, in 2021, according to the International Diabetes Foundation, a Belgium-based umbrella organization of more than 230 national diabetes associations, there were approximately 537 million adult diabetic patients in the world.The number is expected to reach 643 million in 2030 and 783 million in 2045.Additionally, in 2020, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, cancer accounted for the most deaths in the world.It caused 10 million deaths in 2020 which were almost one in six million. As a result, the increasing prevalence of chronic diseases is driving the point of care (POC) diagnostics market.Product innovations are a key trend gaining popularity in the point of care (POC) diagnostics market.Major companies in the point-of-care diagnostics market are introducing innovative products to sustain their position in the market.For instance, in January 2022, PocDoc, a US-based diagnostics company, launched the PocDoc Cardiovascular Diseases point-of-care test.The test includes five steps that include taking the sample and testing the sample onto the lateral flow test kit and capturing the test on the phone to receive an instant diagnosis on the phone.The uniqueness of the product is that it is the world's first smartphone-based test for cardiovascular disease testing.In February 2021, Thermo Fisher Scientific Inc., a US-based scientific instrument and medical equipment company acquired Mesa Biotech Inc. for $550 million. The acquisition provided Thermo Fisher with an entry into the point-of-care testing vertical and would help it improve the offerings of Mesa Biotech. Mesa Biotech is a US-based point-of-care diagnostics kits manufacturer providing diagnostic products for several diseases.The countries covered in the point of care diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The point of care diagnostics market research report is one of a series of new reports that provides point of care diagnostics optical components market statistics, including point of care diagnostics optical components industry global market size, regional shares, competitors with a point of care diagnostics optical components market share, detailed point of care diagnostics optical components market segments, market trends and opportunities, and any further data you may need to thrive in the point of care diagnostics optical components industry. This point of care diagnostics optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06466475/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________