Albany, NY -- (SBWIRE) -- 01/26/2019 -- The global market for point-of-care diagnostics is predicted to witness a healthy growth in forthcoming years, according a report by Transparency Market Research (TMR). The market ecosystem features high consolidation, with the leading four market players responsible for holding nearly 79% of the entire market share. These leading vendors are, namely, F. Hoffmann-La Roche Ltd., Becton Dickinson and Co., Abbott Inc., and Alere Inc. The prominent players in the global point-of-care diagnostics market are focused offering advanced and improved products. By enhancing their product portfolio, the vendors are expected to sustain the high levels of competition in the worldwide market. Another key strategy that could be adopted by market players is expansion to unexplored and potential regions such as swiftly developing parts of Latin America, Asia Pacific, and Africa.
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TMR's report estimates that the global point-of-care diagnostics market will rise at a 6.9% CAGR from 2016 to 2024, the period of forecast for the report. In 2016, the market was estimated to be at US$6.8 bn and is predicted to touch US$11.7 bn by the end of 2024.
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Global Point-of-Diagnostics Market: Drivers and Restraints
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the point-of-care diagnostic market, along with porter's analysis, value chain analysis, of the global market, has been provided in this report. Market revenue and volume analysis for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc. Pricing analysis, for every region has been provided considering the average selling prices (ASP), of products, in these regions.
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About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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