Point Of Care Diagnostics Market size worth $ 59.20 Billion, Globally, by 2030 at 9.83% CAGR: Verified Market Research®

An increase in the number of chronic and infectious diseases has led to an increase in the number of medical tests, the rise in the number of pathology labs equipped with advanced diagnostic equipment, has lead the market growth.

JERSEY CITY, N.J., Aug. 23, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Point Of Care Diagnostics Market" By Product (Glucose Monitoring, Infectious Disease Testing), By End Use (Hospitals, Homecare), and By Geography. According to Verified Market Research, the Point Of Care Diagnostics Market size was valued at USD 28.47 Billion in 2021 and is projected to reach USD 59.20 Billion by 2030, growing at a CAGR of 9.83% from 2022 to 2030.

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Global Point Of Care Diagnostics Market Overview

Point of Care Diagnostics is becoming increasingly popular. Convenience, reduced patient wait times, fewer or no follow-ups, accurate test findings, rapid patient management, and improved healthcare delivery are all expected to drive the market. In the US, the number of patients receiving treatment for acute and chronic diseases at home is increasing and this is expected to increase demand for Point of Care Diagnostics devices, and thus, the market. About 10,000 older people turn 65 every day in the United States, most of whom want to grow older in their own homes. This is expected to increase demand for Point of Care Diagnostics devices for use at home. Increasing investments in the field of Point of Care Diagnostics are also expected to boost the market. For instance, in May 2021, AAD, a developer of rapid diagnostic and data systems, announced a USD 7M investment for Point of Care Diagnostics in animal and human health.

In April 2021, FIND, the global alliance for diagnostics, announced an investment of USD 21 million in Biomeme, Bioneer, Qlife, and SD Biosensor, to accelerate the development, manufacturing, and launch of affordable point-of-care molecular diagnostic platforms that can detect multiple pathogens that cause diseases including COVID-19, in low- and middle-income countries. In November 2021, the US Department of Health and Human Services announced an investment of USD 650 million from the American Rescue Plan to increase rapid molecular point-of-care diagnostic tests for SARS-CoV-2. Globally, over 37.7 million individuals were living with HIV in 2020, according to the United Nations Program on HIV/AIDS. This is expected to increase demand for Point-of-care testing.

Key Developments

• In Apr 2022, Trinity Biotech plc, a global diagnostics leader, announced a $45 million strategic investment and cooperation with MiCo Ltd ("MiCo"). MiCo, a KOSDAQ-listed company established in Korea, is involved in the biomedical business through its affiliate MiCo BioMed, as well as delivering cutting-edge technology-driven solutions.
• In June 2021, Danaher Corporation (NYSE: DHR) (the "Company") stated that it has entered into a formal agreement to buy privately held Aldevron for approximately $9.6 billion in cash. Danaher anticipates financing the transaction with cash on hand and/or revenues from commercial paper issues.

Key Players

The major players in the market are Danaher Corporation, Trinity Biotech, Abbott Laboratories, Roche Diagnostics, Accubiotech, EKF Diagnostics.

Verified Market Research has segmented the Global Point Of Care Diagnostics Market On the basis of Product, End Use, and Geography.

• Point Of Care Diagnostics Market, By Product
• Glucose Monitoring
• Infectious Disease Testing
• Cardio Metabolic Monitoring
• Others
• Point Of Care Diagnostics Market, By End Use
• Hospitals
• Homecare
• Decentralized Labs
• Others
• Point Of Care Diagnostics Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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