BANGALORE, India, Oct. 1, 2020 /PRNewswire/ — According to the Latest Market Research Report “Point of Care Testing Market Research Report by Product (Cardio-metabolic Monitoring Kits, Cholesterol Test Strips, Fertility and Pregnancy Testing Kits, Glucose Monitoring Kits, and Haematology Testing Kits), by End User (Ambulatory Care, Home Care, Hospitals or Critical Care, Outpatient Healthcare, and Research Laboratories) – Global Forecast to 2025” published on Valuates Reports. The Global Point of Care Testing Market is expected to grow from USD 18,217.73 Million in 2019 to USD 35,403.58 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 11.71%.
Major factors driving the growth of Point of Care Testing Market size are the high prevalence of infectious diseases in developing countries, increased incidence of target conditions, increased government funding, and growing preference for home healthcare worldwide.
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TRENDS INFLUENCING THE POINT OF CARE TESTING MARKET
- The Point of Care Testing Market size’s growth is boosted by growing investments by major players in research and development for new POC studies.
- The Point of Care Testing Market size is further expected to increase due to increased demand for faster diagnostics. The rise in medical and surgical procedures that need immediate results for crucial decisions are some of the other factors that are contributing to market growth.
- Furthermore, the launch of new and advanced POC diagnostics for diabetes testing is expected to drive the growth of point of care testing market size in developed and emerging countries during the forecast period.
- It is expected that robust government policies to facilitate the use of point-of-care diagnostics or testing technologies across various healthcare settings would fuel the Point of Care Testing Market size.
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POINT OF CARE MARKET SHARE ANALYSIS
- The Glucose Monitoring Kits is expected to hold the Point of Care Testing Market share during 2019. The high prevalence of diabetes globally is one of the reasons due to the greater share. The increasing popularity of wearable or portable glucose meters is expected to drive the demand for glucose testing.
- North America is expected to hold the largest Point of Care Testing Market share. This dominance is attributed to supportive government bodies that promote the point of care based on diagnostics or testing.
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Based on Product, the Point of Care Testing Market studied across
- Cardio-metabolic Monitoring Kits,
- Cholesterol Test Strips,
- Fertility and Pregnancy Testing Kits,
- Glucose Monitoring Kits,
- Haematology Testing Kits,
- Infectious Disease Testing Kits.
Based on End User, the Point of Care Testing Market studied across
- Ambulatory Care,
- Home Care,
- Hospitals or Critical Care,
- Outpatient Healthcare,
- Research Laboratories.
Based on Geography, the Point of Care Testing Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and the United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and the United Kingdom.
Company Usability Profiles: The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Point of Care Testing Market including Abbott Laboratories, AccuBioTech Co., Ltd., Becton, Dickinson, and Company, Chembio Diagnostics, Danaher Corporation, EKF Diagnostics, Johnson & Johnson, Nova Biomedical, QIAGEN GmbH, and Siemens AG.
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