The increasing awareness about healthcare importance of proper infrastructure in healthcare set-ups are boosting the global point-of-care diagnostics market, predicts Fortune Business Insights in their new report. The report is titled,” Point-of-care Diagnostics (POC)Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2026”.
According to the report, the market is anticipated to reach US$ 28,379.6 Mn by the end of 2026 from US$ 17,019.5 Mn in 2018. The forecast period is set from 2018 to 2026 and the market is expected to grow at a CAGR of 6.6%.
Key players leading the global Point of Care Diagnostics Market include
Johnson & Johnson
Sekisui Diagnostics, LLC
AccuBioTech Co., Ltd.
Chembio Diagnostic Systems, Inc.
EKF Diagnostics Holdings plc
Instrumentation Laboratory (A Werfen Company)
“Increasing Need for Immunotherapy and Other Therapeutic Methods to Promote Growth”
The rise in geriatric population and their vulnerability towards various diseases is a major factor augmenting growth in the global point-of-care diagnostic market. This, coupled with the rising prevalence of infectious diseases is boosting the market. The rise in disposable incomes of people worldwide have encouraged people to opt for better healthcare treatment and facilities. This is further prognosticated to fuel the demand for point-of-care diagnostics market in the coming years.
Furthermore, prevailing occurrences of target diseases is propelling demand for point-of-care treatment methods such as molecular target therapy, immunotherapy, and other therapy methods. Such factors are anticipated to help the market generate better revenues in the years to come.
“Asia Pacific to Emerge as Fastest Growing Region with Better Healthcare Settings”
Fortune Business Insights foresees the global market for point-of-care diagnostics to witness the dominance of North America owing to the increasing demand for technologically advanced point-of-care (POC) diagnostic tools and machinery that provided accurate results. As per Fortune Business Insights report, revenue earned by North America was US$ 6,125.5 Mn in 2018. However, the rapidly increasing and improving healthcare infrastructure in emerging economies of Asia Pacific such as China, and India may help the region to emerge as the fastest growing region in the forecast duration.