The increasing awareness about importance of proper infrastructure in healthcare set-ups is boosting the global point of care diagnostics market, predicts Fortune Business Insights in their new report. The report is titled,” Point of care Diagnostics (POC)Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2026”.
According to the report, the market is anticipated to reach US$ 28,379.6 Mn by the end of 2026 from US$ 17,019.5 Mn in 2018. The forecast period is set from 2018 to 2026 and the market is expected to grow at a CAGR of 6.6%.
List of Key Players Mentioned in This Report:
- Hoffmann-La Roche
- Johnson & Johnson
- Sekisui Diagnostics, LLC
- Danaher Corporation
- AccuBioTech Co., Ltd.
- Chembio Diagnostic Systems, Inc.
- EKF Diagnostics Holdings plc
- Instrumentation Laboratory (A Werfen Company)
- Nova Biomedical
- PTS Diagnostics
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Increasing Need for Immunotherapy and Other Therapeutic Methods to Promote Growth
The rise in geriatric population and their vulnerability towards various are augmenting growth of the global POC diagnostic market. This, coupled with the rising prevalence of infectious diseases, is boosting the market. The rise in disposable income of people worldwide has encouraged them to opt for better healthcare treatment and facilities. This is further prognosticated to fuel the demand for point of care diagnostics market in the coming years.
Furthermore, rising incidence of target diseases is propelling the demand for point of care treatment methods such as molecular target therapy, immunotherapy, and other therapy methods. Such factors are anticipated to help the market generate better revenue in the years to come.
However, factors such as high cost of installation and high maintenance costs may hamper the market in the long run. Nevertheless, with advancement in technology and new product launches, the market is anticipated to grow remarkably in the years to come.
Asia Pacific to Emerge as Fastest Growing Region Backed by Improving Healthcare Settings
Fortune Business Insights foresees the global market for point of care diagnostics to witness the dominance of North America owing to the increasing demand for technologically advanced point of care (POC) diagnostic tools and machinery that provided accurate results. As per Fortune Business Insights, the North America market was valued at US$ 6,125.5 Mn in 2018. However, the rapidly increasing and improving healthcare infrastructure in emerging economies of Asia Pacific such as China and India may help the region to emerge as the fastest growing region in the forecast duration.
Browse Complete Report Details:
MAJOR TABLE OF CONTENT:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Number of Point of care (POC) Diagnostics procedures by key countries, 2018
4.2. Price analysis of types of Point of care (POC) Diagnostics
4.3. Regulatory scenario by key countries
4.4. Reimbursement scenario by key countries
4.5. New product launches
4.6. Key industry developments – mergers, acquisitions, and partnerships
4.7. Key growth indicators of Point of care (POC) Diagnostics market
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