We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
INTEGRA BIOSCIENCES AG

Download Mobile App




Events

09 Apr 2024 - 12 Apr 2024
15 Apr 2024 - 17 Apr 2024
23 Apr 2024 - 26 Apr 2024

Global Point of Care Diagnostics Market Expected to Reach USD 71 Billion in 2027

By LabMedica International staff writers
Posted on 22 Aug 2021
Print article
Illustration
Illustration
The global point of care diagnostics market is estimated to register a CAGR of 11.8% from 2019-2027 and grow from USD 26.60 billion in 2018 to USD 70.89 billion in 2027, driven by the introduction of new point-of-care testing (POCT) products that are aimed at delivering inexpensive care at facilities located at the closest-possible distances from the patients’ location.

These are the latest findings of a market research study by The Insight Partners (Pune, India), a market research & consulting firm.

POCT plays a critical role in the diagnosis, treatment, and prevention of infectious diseases. POC testing can be used to detect several major pathogens, including malarial parasites; human immunodeficiency virus (HIV); human papillomavirus (HPV); dengue, Ebola, and Zika viruses; and Mycobacterium tuberculosis (TB bacteria). To narrow down the diagnostic time, companies are developing POC test kits and reagents. The number of POCT has steadily increased over the last 40 years since its widespread introduction. The market growth is likely to continue with the help of the introduction of new products in the market aimed at delivering inexpensive care at the facilities located at the closest-possible distances from the patients’ location. New technologies or products are being refined and improved to deliver easier-to-use devices with incremental improvements in analytical performance.

Based on product, the global point of care diagnostics market was led by the glucose monitoring products segment in 2018 with the largest share. This segment is also expected to dominate the market until 2027 owing to the increase in the number of diabetic patients. However, the infectious disease testing products market is expected to grow at a significant rate during the forecast period. Moreover, infectious disease rapid test kits are widely available for a wide variety of prophlogistic pathogen targets, including bacterial, viral, fungal, protozoan, and other disease agents.

The global point of care diagnostics market has witnessed various organic as well as inorganic developments during recent years, including growth strategies such as approvals, collaborations, and partnerships. Geographically, Asia Pacific is the fastest growing point of care diagnostics market and is expected to be a significant revenue contributor during the forecast period. The region has witnessed several technological advancements in the field of healthcare with the incorporation of point of care diagnostics for increasing the efficiency of treatments. Additionally, there is growing interest among international players in China and India, government support in countries such as China, and improving healthcare infrastructure. Hence, players in the Asia Pacific point of care diagnostics market have huge potential for growth during the forecast period.

Related Links:
The Insight Partners

Platinum Member
COVID-19 Rapid Test
OSOM COVID-19 Antigen Rapid Test
HLX
Anti-Cyclic Citrullinated Peptide Test
GPP-100 Anti-CCP Kit
New
Gold Member
Fully Automated Cell Density/Viability Analyzer
BioProfile FAST CDV

Print article

Channels

Clinical Chemistry

view channel
Image: Reaching speeds up to 6,000 RPM, this centrifuge forms the basis for a new type of inexpensive, POC biomedical test (Photo courtesy of Duke University)

POC Biomedical Test Spins Water Droplet Using Sound Waves for Cancer Detection

Exosomes, tiny cellular bioparticles carrying a specific set of proteins, lipids, and genetic materials, play a crucial role in cell communication and hold promise for non-invasive diagnostics.... Read more

Molecular Diagnostics

view channel
Image: The BIOFIRE® SPOTFIRE® R/ST Panel has received dual 510(k) clearance and CLIA-waiver approval (Photo courtesy of bioMérieux)

Respiratory and Throat Infection PCR Test Detects Multiple Pathogens with Overlapping Symptoms

The COVID-19 pandemic has demonstrated the need for healthcare professionals to have diagnostic tests available as close as possible to the patient, providing actionable results quickly.... Read more

Hematology

view channel
Image: The low-cost portable device rapidly identifies chemotherapy patients at risk of sepsis (Photo courtesy of 52North Health)

POC Finger-Prick Blood Test Determines Risk of Neutropenic Sepsis in Patients Undergoing Chemotherapy

Neutropenia, a decrease in neutrophils (a type of white blood cell crucial for fighting infections), is a frequent side effect of certain cancer treatments. This condition elevates the risk of infections,... Read more

Pathology

view channel
Image: The RedDrop One blood collection device has received 510(k) clearance from the U.S. FDA for prescription use (Photo courtesy of RedDrop Dx)

Innovative Blood Collection Device Overcomes Common Obstacles Related to Phlebotomy

The discomfort associated with traditional blood draws leads to a significant issue: approximately 30% of diagnostic tests prescribed by physicians are never completed by patients. This avoidance is often... Read more
Copyright © 2000-2024 Globetech Media. All rights reserved.