Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Point of care is also named as with patient testing that allows physicians and medical staff to accurately accomplish real time, lab quality diagnostic results within minutes rather than taking hours to diagnose. Through the use of portable blood analysers, testing at the point of care rationalize the diagnostic process and aids in ensuring patients to receive the most effective and efficient care when and where it is needed. Point of care testing enables staff to make rapid triage and treatment decisions at the time of diagnosis of patient’s condition or monitoring treatment response.
The point of care diagnostic market is anticipated to grow at CAGR of 10.43% during forecast period of 2021 to 2027. The point of care diagnostics simplifies the testing process as a result clinicians can focus on what matters most for providing effective, quality patient care. The key factors such as high prevalence of infectious diseases is propelling growth of point of care diagnostic market. Increasing incidences of target conditions is also boosting growth of point of care diagnostic market. However, stringent regulatory policies is hindering the growth of point of care diagnostic market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the point of care diagnostic market. In addition, complete analysis of changes on point of care diagnostic expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The outbreak of COVID-19 has boosted the growth of diagnostic kits for rapid detection of diseases. There is somewhat mismatch between the demand and supply as there is complete shutdown in many countries due to outbreak of COVID-19. The rapidly growing number of COVID-19 cases and the growing pressure on governments for improving patient management has boosted the demand for rapid antigen testing kits which can effectively use in point if care settings.
The point of care diagnostic market is segmented into the test type, mode of prescription, end user and geography.
The point of care diagnostic market is comprised of product type such as glucose monitoring, cardiometabolic monitoring, infectious diseases monitoring, coagulation monitoring, pregnancy and fertility testing, faecal occult testing, haematology testing, tumour/cancer marker testing, urinalysis testing, drug abuse testing and cholesterol testing. In which glucose monitoring is expected to dominate the market in 2020. The rising adoption of new technologies among researcher is propelling growth of point of care diagnostic market. The rising patient population of diabetes is also boosting growth of point of care diagnostic market.
The mode of prescription comprised in the point of care diagnostic market are prescription based and over the counter. In which over the counter testing products is estimated to dominate the market in 2020. The rising prevalence of chronic and infectious disease is propelling growth of point of care diagnostic market. The growing demand for the early detection of disease is also boosting growth of point of care diagnostic market. The rising awareness about availability of over-the-counter point of care products for home use is also driving growth of point of care diagnostic market.
The point of care diagnostic market is comprised of end users such as hospitals/critical care centres, ambulatory care settings, research laboratories and home care. In which hospitals/critical care centres is likely to dominate the point of care diagnostic market in 2020. The growing need for long term care and frequent monitoring is propelling growth of point of care diagnostic market. Rising awareness for cost effective and highly innovative point of care centres is also boosting growth of point of care diagnostic market.
The point of care diagnostic market is studied for key countries such as North America, Europe, Asia Pacific and Rest of the World. In which North America is anticipated to dominate the market in 2020. The rising incidence and prevalence of lifestyle diseases is propelling growth of point of care diagnostic market. The favourable government scenarios is also boosting growth of point of care diagnostic market. High awareness of self-testing and home care products is also refuelling growth of point of care diagnostic market.
The major key players operating in the market of point of care diagnostic market are Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Becton Dickinson And Company, Abbott Laboratories, Quidel Diagnostics, Chembio Diagnostics, Ekf Diagnostics, Trinity Biotech and Fluxergy among others.
June 2019: Abbott announced the launch of Affinion HbA1c Dx Assay , a point of care test for diabetes.
June 2019: Quidel Corporation received US FDA approval to commercialize Quidel Triage TOX Drug Screen
March 2019: Roche Diagnostics FDA approval for the VENTANA PD-L1 (SP142) Assay for identifying triple-negative breast cancer (TNBC) patients.
February 2019: Danaher acquired the Biopharma business of GE Life Sciences with an aim to established as a standalone operating company and strengthen the point of care diagnostics product portfolio.
The report analyses the point of care diagnostic market based on product type, mode of prescription, end user and geography. Various types of products available in the point of care market are glucose monitoring, cardiometabolic monitoring, infectious diseases monitoring, coagulation monitoring, pregnancy and fertility testing, faecal occult testing, haematology testing, tumour/cancer marker testing, urinalysis testing, drug abuse testing and cholesterol testing. By mode of prescription, the market is segmented into the prescription based and over the counter products. Based on end users, the market is segmented into the hospital/critical care centres, ambulatory care settings, research laboratory and home care. The study also analyses the impact of COVID-19 on the point of care diagnostic market and it founds that the outbreak of COVID-19 has boosted the growth of diagnostic kits for rapid detection of diseases. There is somewhat mismatch between the demand and supply as there is complete shutdown in many countries due to outbreak of COVID-19. The rapidly growing number of COVID-19 cases and the growing pressure on governments for improving patient management has boosted the demand for rapid antigen testing kits which can effectively use in point if care settings. The study also analyses various major key players operating in the market.
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