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Point of Care Testing Market Growth – at a CAGR of 10.9%, Market Trends – Improvement in patient-centric care and emergence of advanced testing kits

VANCOUVER, BRITISH COLUMBIA, CANADA, April 5, 2023 /EINPresswire.com/ -- The Latest research study released by Emergen Research on "Point of Care Testing Market" with 150+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that leads the market growth.

The global Point-Of-Care Testing (POCT) market size reached USD 39.80 Billion in 2021 and is expected to register a revenue CAGR of 10.9% during the forecast period, according to latest analysis by Emergen Research. Rise in prevalence of target diseases as well as supportive government funding, norms, and regulations are some of the major factors driving POCT market revenue growth.

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Key Players Included in this report are:

Abbott Laboratories, Chembio Diagnostics, Siemens, Roche Diagnostics, Danaher Corporation, Johnson & Johnson, Qiagen, Becton, Dickinson and Company, Nova Biomedical, and Quidel Corporation

Point of Care Testing Market, By Product (Glucose Monitoring Products, Infectious Disease Testing Products), By Platform (Lateral Flow Assays, Immunoassay), By Mode of Purchase, By End-Use, and By Region Forecast to 2030

What can be explored with the Point of Care Testing Market Study?

Gain Market Understanding

Identify Growth Opportunities

Analyze and Measure the Global Point of Care Testing Market by Identifying Investment across various Industry Verticals

Understand the Trends that will drive Future Changes in Point of Care Testing Market

Understand the Competitive Scenarios

Track Right Markets

Identify the Right Verticals

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Some Key Highlights From the Report

By product, the glucose monitoring segment accounted for largest revenue share in 2021. Point-of-care glucose monitors enable regular blood glucose monitoring, allowing doctors to develop an appropriate treatment plan. POC tests include Over-the-Counter (OTC) or rapid tests as well as prescription tests for determining blood glucose levels in hospitals and other POC environments. Segment revenue is expected to increase steadily due to rising prevalence of diabetes and development of portable diagnostic equipment over the forecast period. Monitoring glucose levels on a regular basis is critical while treatment of diabetic patients. According to the Diabetes Control and Complications Trial, integrating blood glucose monitoring reduces disease-related complications.
By platform, the Lateral Flow Assays (LFA) segment accounted for largest revenue share in 2021. POC tests based on lateral flow assays are increasingly being employed to replace long, conventional laboratory processes. Cost of these tests is lower since POC diagnostic procedures require less expensive equipment, devices, and personnel training than typical laboratory diagnostic processes. Regulatory bodies, on the other hand, usually need independent confirmation of data, which limits LFA testing to primary screening at the site of therapy.
Market Segmentation Analysis

Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Point of Care Testing Market is divided into a variety of categories, uses, and geographical areas. Players gain from the report's regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.

Product Outlook (Volume: Kilo Tons) (Revenue, USD Billion; 2017-2027)
Infectious Disease Testing Products
Glucose Monitoring Products
Pregnancy and fertility Testing Products
Cardio-metabolic Monitoring Products
Hematology Testing Products
Cholesterol Testing Products
Tumor/Cancer Marker Testing Products
Others
End-User Outlook (Volume: Kilo Tons) (Revenue, USD Billion; 2017-2027)
Clinical Laboratories
Home care Settings
Hospitals
Others
COVID-19 Impact Analysis

The post-COVID-19 phase has undergone substantial change, and Point of Care Testing Market research highlights the opportunities and difficulties that still exist. This study report thoroughly examines the effects of the COVID-19 pandemic on the global economy and post-pandemic market behaviour.

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Regional Outlook

We carefully examined each division, regional classification, national study, and subject-specific data set during the market research. This Point of Care Testing Market research report's goal is to look at growth patterns, promising futures, important obstacles, and expected results. Information on significant market participants, strategic alliances, plans, new product launches, and joint ventures are all included in the research.

Key Reasons to Purchase Point of Care Testing Market Report

The reader will be in a position to comprehend and react to marketing strategies like using strengths and conducting a SWOT analysis.

The research looks into the dynamics of the target market and how the conflict between Russia and Ukraine has affected it.

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