2020 Point Of Care Diagnostics Market Size, Share and Trend Analysis Report to 2026- Growth Opportunities and Competitive Analysis

UNITED KINGDOM, April 14, 2020 /EINPresswire.com/ --
The Factors driving the Point of care diagnostics market growth include the increase in demand for treatment diagnostics, high prevalence of infectious diseases, increasing policy funding and raising preference for home healthcare across the world.

Secondly, increase in number of point of care diagnostics glucose monitoring devices coupled with the growing prevalence of diabetes to positively impact the point of care diagnostics market value.

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Further, numerous smartphone-based devices and associated tools which emerged as a next-generation point of care diagnostics or testing devices to contribute in the market revenue during the forecast period 2020-2026.

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However, product recalls, lack of alignment with test results, stringent & time-consuming approval policies, and a disinclination to change existing diagnostic practices to challenge the market growth.

North America and Asia Pacific to drive the point of care diagnostics market growth

Rise in prevalence of lifestyle diseases coupled with growing number of test approvals, and rising government initiatives to sustenance the adoption of point of care are the factors responsible for the North American market growth.

Further, boosting the regional revenue generation the organizations plays a major role. For example, The American Heart Association, the American Diabetes Association, and the Pan American Health Organization are among the other communal organizations to encourage the tests in this region.

In North America, improved ease of use has facilitated the advancement of ultrasonic technology in the field of care diagnostics or testing. For instance, in 2019, FUJIFILM SonoSite presented point of care ultrasound solutions at the annual meeting of the American College of Emergency Physicians.

Moreover, Asia Pacific’s regional growth is attributed to continuous expansions by international and local players to reach an untapped market need. Recently, in 2020, Mindray Medical introduced the TE7 ACE point of care ultrasound system.

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Key players contributing to the point of care diagnostics market share

Collaborations, new test launches by key players and prominent groups to trigger the market growth. For instance, in 2020, researchers developed a AIOD-CRISPR assay method which have a great potential for developing next-generation point-of-care molecular diagnostics.

Further, in 2020, The U.S. Food and Drug Administration (FDA) approved the first point-of-care test for diagnosing COVID-19.

In addition, in 2020, Abbott launched molecular point-of-care test to detect novel coronavirus by providing 50,000 tests per day. Also, in 2019, Abbott Laboratories collaborated with Sanofi to integrate glucose sensing and insulin delivery technologies.

Additionally, Chembio Diagnostic Systems received approval from ANVISA for its DPP Zika/Dengue/Chikungunya/ System in 2019.

Moreover, in 2019, Roche Diagnostics launched its VENTANA PD-L1 (SP142) to identify triple-negative breast cancer (TNBC) patients who are eligible for treatment with TECENTRIQ (atezolizumab).

Other key players of point of care diagnostics market include Abbott, Roche, Siemens, Danaher, Becton, Dickinson and Company, Johnson & Johnson, Instrumentation Laboratory, PTS Diagnostics, Quidel, Chembio Diagnostic Systems, Sekisui Diagnostics, Nova, EKF Diagnostics, AccuBioTech, and Trinity Biotech among others.

Related reports
• Point of Care POC Infectious Disease Diagnostics Market
• Point of Care (PoC) Molecular Diagnostics Market

Ambarish Ram
OG Analysis
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