The global point of care diagnostic market is anticipated to grow at a CAGR of 9.28% between 2019 and 2027 to generate revenue of $57,482 million by 2027
NEW YORK, July 2, 2019 /PRNewswire/ --
KEY FINDINGS
The global point of care diagnostic market is anticipated to grow at a CAGR of 9.28% between 2019 and 2027 to generate revenue of $57,482 million by 2027. The important drivers that have been enhancing the growth of the global point of care diagnostic market are the growing prevalence of chronic and infectious diseases and the rise in the implementation of healthcare reforms.
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MARKET INSIGHTS
The growing prevalence of chronic and infectious diseases, the rise in the implementation of healthcare reforms and the rising demand for decentralized chronic and infectious disease testing are drivinh the arket growth essentially.
The stringent regulation and insufficient reimbursement policies are the major factors hindering the point of care diagnostic market. The new POC product that is introduced in the market has to go through the regulatory approval process and meet the requirements of medical devices.
REGIONAL INSIGHTS
Geographically, the global Point of care diagnostic market has been segmented on the basis of four major regions, namely, Asia Pacific, North America, Europe, and the Rest of World regional segment.Asia-Pacific market is anticipated to the fastest-growing region for the Point of care diagnostic market.
Factors such as limited resource usability coupled with increasing prevalence rates, and technological advancements, are the major drivers in Asia Pacific segment of point of care testing market is expected to witness the fastest growth over the forecast period.
COMPETITIVE INSIGHTS
The major companies operating in the market are Trinity Biotech, Trivitron Healthcare, Sight Diagnostics Ltd., Biomérieux SA, Becton Dickinson and Company, Ortho Clinical Diagnostics, Quest Diagnostics Inc., Siemens Healthineers, Thermo Fisher Scientific Inc., Chembio Diagnost ICS Systems, Inc., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Abbott, Gene POC, Danaher Corporation, and Cardinal Health Inc. The company profiles for each of these companies are thoroughly explored in the report.
Companies mentioned
1. ABBOTT
2. BECTON DICKINSON AND COMPANY
3. BIOMÉRIEUX SA
4. BIO-RAD LABORATORIES, INC.
5. CARDINAL HEALTH INC.
6. CHEMBIO DIAGNOST ICS SYSTEMS, INC.
7. DANAHER CORPORATION
8. GENE POC
9. F. HOFFMANN-LA ROCHE LTD.
10. ORTHO CLINICAL DIAGNOSTICS
11. QUEST DIAGNOSTICS INC.
12. SIEMENS HEALTHINEERS
13. SIGHT DIAGNOSTICS LTD.
14. THERMO FISHER SCIENTIFIC INC.
15. TRINITY BIOTECH
16. TRIVITRON HEALTHCARE
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