Point of Care [POC] Diagnostics Market to Reach $55.27 Bn, Globally, by 2030 at 6.5% CAGR: Allied Market Research

Rise in prevalence of chronic diseases and several supportive initiatives implemented by government and non-government organizations drive the growth of the global point of care diagnostics market.

PORTLAND, Ore., April 7, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Point of Care Diagnostics Market by Product (Glucose Monitoring Kits, Infectious Diseases Testing Kits, Pregnancy And Fertility Testing Kits, Hematology Testing Kits, Cardiometabolic Monitoring Kits, Urinalysis Testing Kits, Cholesterol Test Strips, Drugs Abuse Testing Kits, Others), by Mode Of Prescription (Prescription Based Devices, Otc Based Devices), by End User (Professional Diagnostic Centers, Research Laboratories, Home Care, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global point of care diagnostics industry generated $29.47 billion in 2020, and is expected to reach $55.27 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030.

For Right Perspective, Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/161

Drivers, Restraints, and Opportunities

Rise in prevalence of chronic diseases such as diabetes, rheumatism, and cancer and several supportive initiatives implemented by government and non-government organizations drive the growth of the global point of care diagnostics (POC) market. However, stringent government regulations for approval of POC diagnostic devices and reimbursement issues restrain the market growth. On the other hand, technological advancements in POC diagnostic devices and advent of home-based POC devices present new opportunities in the coming years.

Covid-19 Scenario

• Owing to surge in the prevalence of Covid-19 infection across the world, the demand for point of care diagnostics kits such as Covid-19 rapid kits for detection of coronavirus increased. This led to the market growth during the pandemic.
• Development activities of various testing and monitoring kits increased considerably. However, lockdown restrictions and supply chain disruptions posed challenges in distribution and created a supply-chain gap.

The glucose monitoring kits segment to continue its leadership status by 2030

Based on product, the glucose monitoring kits segment accounted for the highest share in 2020, contributing to more than two-fifths of the global point of care diagnostics market, and is expected to continue its leadership status by 2030. This is attributed to rise in prevalence of target diseases such as diabetes. However, the infectious diseases testing kits segment is estimated to witness the largest CAGR of 12.7% from 2021 to 2030, owing to rise in prevalence of infectious diseases such as hepatitis, influenza, Covid-19, & human immunodeficiency virus (HIV).

Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/161

The professional diagnostic centers segment to maintain its dominance throughout the forecast period

Based on end user, the professional diagnostic centers segment held the highest market share in 2020, contributing to more than half of the global point of care diagnostics market, and is projected to maintain its dominance in terms of revenue throughout the forecast period. This is due to access to novel diagnostic technologies, improvement in healthcare coverage, and affordability. However, the research laboratories segment is expected to manifest the fastest CAGR of 7.8% from 2021 to 2030. This is due to surge in prevalence of various chronic and infectious diseases globally.

North America to continue its lead position in terms of revenue by 2030

Based on region, North America contributed to the highest market share in terms of revenue in 2020, accounting for around two-fifths of the global point of care diagnostics market, and is projected to continue its lead position by 2030. This is attributed to surge in Covid-19 cases in the U.S. and Canada. However, Asia-Pacific is estimated to register the fastest CAGR of 7.8% during the forecast period. This is due to development of healthcare infrastructure and high prevalence of chronic and targeted diseases such as diabetes, cancer, and others.

Leading Market Players

• Johnson and Johnson
• Sysmex Corporation
• Nova Biomedical
• Danaher Corporation
• Becton Dickinson and Company
• bioMrieux SA
• Abbott Laboratories
• Siemens AG
• Hoffmann La Roche Ltd
• Sinocare Inc.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter

"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

Trending Reports in Healthcare Industry (Book Now with 10% Discount):

miRNA Tools and Services Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Radiotherapy Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Medical Laser Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Surgical Robotics Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Medical Spa Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Surgical Clips Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg