Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Point-of-Care Diagnostics Devices And Equipment Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global point-of-care diagnostics devices and equipment market was valued at about $9.3 billion in 2018 and is expected to grow to $11.35 billion at a CAGR of 5.1% through 2022.
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The point-of-care diagnostic devices and equipment market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North America is the largest market for point-of-care diagnostic devices and equipment and is expected to continue to be the largest market during the forecast period.
An increase in the incidence of target diseases is driving the POC devices and equipment market globally. The rising incidence of chronic diseases, like diabetes, rheumatism, or cancer is increasing steadily worldwide due to poor lifestyle choices and increasing obesity, thus driving the growth of POC devices and equipment market. For example, according to American Heart Association cardiovascular disease is listed as the underlying cause of death for 0.84 million deaths in the US in 2016, approximately 1 of every 3 deaths.
The POC diagnostics devices and equipment market is expected to slow down due to stringent regulatory policies, which increases the gestational period before the product enters market. POC devices and equipment manufacturers are required to obtain multiple FDA clearances before launching their product into the market. The entire process of approval consumes a lot of time, thereby restraining the market growth.
Over-the-Counter (OTC) testing is being termed as an important trend driving the growth of point of care diagnostics market. FDA has approved OTC test kits for cholesterol, fecal occult blood, pregnancy and HIV/HCV. This method would improve the access to testing and early detection of the disease. These testing kits may generate more revenue than prescription tests over the forecast period due to ease of using the kits, increased home care and self-testing, and rise in availability and adoption rate.
Scope of the Report:
Markets Covered: 1) By Type: Infectious disease testing kits, Cardio metabolic monitoring kits,, Cholesterol testing kits, Pregnancy and fertility tests kits, Tumor/cancer markers, Urinalysis testing kits, Hematology testing kits, Drugs of abuse testing kits, Fecal occult testing kits, Others 2) By End User: Professional diagnostic centers, Hospitals/critical care centers, Outpatient healthcare Setting, Ambulatory care settings, Research laboratories, Home
Companies Mentioned: Abbott, F. Hoffmann-La Roche, Siemens Healthineers, Danaher, Beckman Coulter
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, Point-of-Care Diagnostics Devices And Equipment indicators comparison.
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Influence of the Point-of-Care Diagnostics Devices And Equipment Market Report:
-Comprehensive assessment of all opportunities and risks in the Point-of-Care Diagnostics Devices And Equipment market.
-The detailed study of business strategies for the growth of the Point-of-Care Diagnostics Devices And Equipment market-leading players.
-Conclusive study about the growth plot of the Point-of-Care Diagnostics Devices And Equipment market for forthcoming years.
-In-depth understanding of Point-of-Care Diagnostics Devices And Equipment market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Point-of-Care Diagnostics Devices And Equipment market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Point-of-Care Diagnostics Devices And Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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