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The global point of care testing market size is expected to reach USD 22.8 billion by 2025, at a CAGR of 3.3%

NEW YORK, Aug. 7, 2019 /PRNewswire/ -- Point of Care Diagnostics/Testing Market Size, Share & Trends Analysis Report by Product (Glucose, Blood Gas/Electrolytes, Cancer Marker), By End Use (Clinic, Hospital), And Segment Forecasts, 2019 - 2025

Read the full report: https://www.reportlinker.com/p05763755/?utm_source=PRN

The global point of care testing market size is expected to reach USD 22.8 billion by 2025, at a CAGR of 3.3% The ability of Point of Care (POC) tests to render rapid and accurate results to promote patient-centered healthcare at bedside settings as well as in the remote areas results in higher penetration of POC devices and solutions.

Adaptation of automated laboratory systems and highly integrated solutions facilitate the diagnostic workflow, which in turn drives adoption of point of care diagnostic/testing products. Lack of skilled professionals or medical personnel with limited training especially in diagnostics can also easily use these devices.

Rise in R&D activities among key players to introduce novel POC tests and devices for rapid disease detection and monitoring is expected to fuel industrial progression. Recently, in February 2018, Siemens Healthineers received a Food and Drug Administration (FDA) approval for its Total Carbon Dioxide (TCO2) and Blood Urea Nitrogen (BUN) POC tests, thereby enhancing its market presence.

Moreover, high prevalence of chronic disorders and cancer results in large customer base adopting cost-effective and immediate diagnostic tests, propelling the point of care diagnostics/testing market. This is further supplemented by numerous favorable initiatives to promote the employment of POC tests in diagnosis and screening procedures.

Further key findings from the report suggest:
• Glucose testing held the maximum revenue share in 2018 due to high prevalence of diabetes and introduction of a wide variety of glucose meters by companies
• Hb1Ac testing segment is also expected to show similar trends owing to high competition among key players while delivering low-cost Hb1Ac tests
• Detection and analysis of circulating tumor cells during cancer progression is predicted to drive the cancer marker vertical with the fastest penetration rate in the forthcoming years
• Clinics is estimated to hold the dominant revenue share of the POC diagnostic industry in 2018, due to the employment of a wide range of POC tests
• Increasing awareness about decentralized tests among patients has resulted in lucrative growth of home-based POC testing
• U.S. is anticipated to North America owing to the presence of key participants with undergoing significant number of research endeavors in the country
• Continuous developments in healthcare sector to introduce novel and accurate diagnostic tests exhibit a potential growth of the market in Asia Pacific
• Major participants in the point of care diagnostics market include F. Hoffmann-La Roche Ltd.; Danaher Corporation; Abbott Laboratories; bioMérieux SA; Instrumentation Laboratory SpA; Nova Biomedical; Trividia Health, Inc.; QIAGEN; Becton Dickinson & Company; Sekisui Diagnostics LLC; Quidel Corporation; and Siemens Healthcare GmbH
• Key vendors are undergoing numerous strategic developments such as product development, acquisitions, partnerships, and agreements to gain greater market share. For instance, in May 2017, Becton, Dickinson and Company collaborated with the FIND to develop point of care based biomarker test for bacterial infections.

Read the full report: https://www.reportlinker.com/p05763755/?utm_source=PRN

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