Point of Care Diagnostics Market Size, Share, Trends and Forecast to 2025Posted by Shristi on November 19th, 2019 Analyst Speak: “The Global Point of Care Diagnostics Market was valued at US$ 22.7 Bn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to approval for innovative immunoassay technologies by the regulatory” Precision Business Insights (PBI) in its report titled “Global Point of Care Diagnostics Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over six years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Avail Sample Report of the Market @ https://www.precisionbusinessinsights.com/request-sample?product_id=17104 The global point of care diagnostics market was valued at US$ 22.7 Bn in 2018 and growing at a CAGR of 9.1% over the forecast period owing to increasing investments in research and development to miniscule molecular diagnostic tests coupled with advances in laboratory automation techniques. Moreover, introduction of cost effective products in the market and increasing usage of home-based POC procedures, rising prevalence of targeted diseases coupled with advancements in technology are anticipated to drive the growth of the market over the forecast years. However, lack of skilled professionals in APAC and Latin region and frequent product recalls in the market, unfavorable reimbursement policies are expected to restrain the growth of the market over the future years. Global point of care diagnostics market segmented on the basis of product type, prescription mode, end user, and region. Prescription based testing kits segment accounted for higher revenue share Based on prescription mode, global point of care diagnostics market is segmented into Over-the-counter (OTC) testing kits and Prescription-based testing kits. Prescription based testing kits segment accounted for the largest market share in 2018 and is expected to grow with highest CAGR over the forecast period owing to lack of awareness on POCT devices that are available in OTC in emerging nations and rising incidence rate of lifestyle diseases and growing prevalence of the diseases are expected to drive the growth of the market over the forecast years. North America holds leading position in Global Point of Care Diagnostics Market PBI’s global point of care diagnostics market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to growing number of products approved in the region and the OTC segment in North America holds significant revenue share due to significant increase in the sales of the OTC in United States in 2018. The increasing incidence of lifestyle diseases and rising support from the government are expected to drive the growth of the market. Asia Pacific and Europe region are driving with significant growth rate over the forecast period owing to developing healthcare infrastructure and increasing awareness among the patients in emerging economies fuels the growth of the market over the future years.
Key player’s profiles in the report are Siemens AG (Germany), Abbott Laboratories, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Becton, Dickinson, and Company (U.S.), Mologic Ltd (U.K.), Johnson & Johnson Services Inc. (U.S.), Sinocare, Inc. (China), Roche Diagnostics (U.S.), Nova Biomedical (U.S.), and Instrumentation Laboratory (U.S.) to name a few. Detailed Segmentation By Product Type
By Prescription Mode
By End User
Geography North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
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