Self-Sustenance To Spell Growth For The Clinical Chemistry Market

Posted by Merin John on May 5th, 2021

Point of care testing volume has evolved and increased over the years. The growth is immensely driven by changes in healthcare, which are focused on providing more affordable care. The technologies for point of care testing have undoubtedly evolved and been refined for delivering easy-to-use clinical chemistry testing devices with improvements in analytical performance.

For instance, Dipstick is a point of care testing technology that is being frequently used and has stood the test of time. It can detect a single analyte or upto 10 analytes and can also be used in conjunction with a very small reading device to reduce potential operator errors.

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Company Profiles

Danaher corporation

Abbott

F.Hoffmann-La Roche Ltd

Siemens AG

Thermo Fisher Scientific Inc.

bioMérieux SA

Bio-Rad Laboratories Inc.

Cardinal Health, Inc.

Mindray Medical International Limited

Hitachi, Ltd.

Hologic Inc.

Countries worldwide are facing a limit in the growth of healthcare budgets and in some cases reduced healthcare expenditures. To compensate for these limitations, countries are focused on reducing relatively expensive care in tertiary and secondary hospitals.

Point of care testing allows timely detection of infectious diseases, which has further led manufacturers of these devices to improve and enhance their product portfolio. The benefits of using point of care testing clinical chemistry devices have led to the growth in demand for these devices, which is expected to boost market growth for clinical chemistry.

Factors Impacting Revenue Growth of Clinical Chemistry Market

The increasing prevalence of lifestyle-related diseases, such as obesity and cardiovascular diseases, has immensely contributed to the growth of the clinical chemistry market. The increase in laboratory automation is also expected to be one of the most important factors leading to the growth of the clinical chemistry market.

According to a report published by the World Health Organization, lifestyle-related diseases kill approximately 41 million people annually, which is equivalent to around 71% of the mortality rate, globally. According to research conducted by Persistence Market Research (PMR), the global clinical chemistry market is expected to account for more than US$ 10 Billion in terms of value by the end of 2026.

The clinical chemistry market report further projects significant growth potential, with an average Y-O-Y growth rate pegged at 5.1% through 2026.