Point of Care Testing Market Worth Nearly $ 38.40 Bn by 2026

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The global Point of Care Testing Market size is expected to reach USD 38.40 billion by 2026, at a significant growth rate of 7.4% during the forecasted period from 2020 to 2026. The market report provides an analysis of the global Point of Care Testing Market for the period 2015-2026, wherein 2020 to 2026 is the forecast period and 2019 is considered as the base year.

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Increment in number of pathology labs and services equipped with progressive diagnostic equipment hardware in North America will be one of the main considerations driving the development of POC testing market. Healthcare infrastructure advancement has brought about the business development. Greater part of the populace remaining in created nations depend on medicinal services offices created by public healthcare sector area that will emphatically affect the business development.

Molecular diagnostics holds noteworthy job in the field of microbiology. Traditional culture technique isn’t useful in acquiring auspicious outcomes. Molecular testing technology permits nucleic acid detection straightforwardly through intensification and screening of test. Ongoing PCR is utilized for this reason. Industry players have been concentrating their endeavors on growing new point of care atomic demonstrative advances to convey quicker outcomes with high exactness and explicitness. Henceforth, increment in innovative work will increase the market development in the anticipated years.

High expense of the point of care testing devices will be one of the main considerations in charge of obstructing market development in the forthcoming years. The expense of individual point of care tests are generally higher than the tests performed on large platforms. Henceforth, surprising expense of the testing devices will result in decline in device adoption, in this way controlling the market development.

The global point of care testing market is segmented into product, technology, prescription, application, end-user, and region. On the basis of product, the global point of care testing market is segmented into Glucose monitoring (Strips, Meters, Lancets), Cardio metabolic testing products (Cardiac marker testing products, Blood Gas/Electrolytes testing products, HBA1C testing products), Infectious disease testing products (Influenza testing products, HIV testing products, Hepatitis C testing products, Sexually Transmitted Disease (STD) testing products, Healthcare-Associated Infection (HAI) testing products, Respiratory infection testing products, Tropical disease testing products, Other infectious diseases testing products), Coagulation testing products (PT/INR testing products, Activated Clotting Time (ACT/APTT) testing products), Pregnancy and fertility testing products, (Pregnancy testing products, Fertility testing products), Tumor/Cancer marker testing products, Urinalysis testing products, Cholesterol testing products, Hematology testing products, Drug-of-Abuse (DoA) testing products, Fecal occult testing products, and Other products. On the basis of technology, the global point of care testing market is segmented into Lateral flow assays, Dipsticks, Microfluidics, Molecular diagnostics, Immunoassays, Agglutination assays, Flow-Through, Solid phase, and Biosensors. On the basis of prescription, the global point of care testing market is segmented into OTC testing and prescription-based testing.

On the basis of application, the global point of care testing market is segmented into cardio metabolic testing, infectious disease testing, nephrology testing, drug-of-abuse (DOA) testing, blood glucose testing, pregnancy testing, cancer biomarker testing, and other applications. On the basis of end-user, the global point of care testing market is segmented into hospitals, diagnostic centers, research laboratories, home-care settings, and other end-uses. On the basis of region the global point of care testing market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.

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Germany overwhelmed the Europe POC testing market and was esteemed around USD 1,718.4 million in the year 2018. In the Federal Republic of Germany, purpose of-care frameworks are progressively utilized inside hospitals and medical practices. Other therapeutic offices where point of care testing is generally utilized incorporates outpatient nursing care, drug stores and home visits. Along these lines, developing reception of point of care testing the country over will drive the provincial market development.

Japan POC testing market is anticipated to develop at a CAGR of 8.7% over the projection time frame. According to the measurements distributed by the World Health Organization (WHO), in excess of 20,000 individuals were experiencing HIV and tuberculosis in Japan in the year 2016. This rising rate animates the demand for point of care diagnostics tests bringing about developing demand and selection rate of point of care testing gadgets in the nation.

The vital companies contributing to the world-wide point of care testing market are Abaxis, Abbott, Siemens AG, F. Hoffmann-La Roche Ltd., and Johnson and Johnson.

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