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Market Trends – Increasing preference for home care settings
— Emergen Research
VANCOUVER, BC, UNITED STATES, May 19, 2022 /EINPresswire.com/ —
The global Point of Care Testing Market is expected to reach USD 57.08 Billion by 2027, according to a new report by Emergen Research.
The growth of this market can be attributed due to the growing government initiatives and support, such as favorable policies and regulations regarding the adoption of Point of Care (POC) testing product. Besides, the emergence of next-gen POC testing devices such as smartphone based devices and cost-effective wearable glucose meters are also contributing to the growing sales of the market.
Increasing research and development for the production of technologically advanced, cost-effective, and user-friendly product is augmenting the demand for the industry. Due to the pandemic, a huge number of kits and rapid tests have been manufactured, which have uplifted the demand of the POC testing product. Covid-19 is a significant contributor to the increase in the POC testing product’s revenue as a massive number of Covid-19 screenings are being performed in the affected areas.
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The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Key participants include Abbott Laboratories, Chembio Diagnostics, Siemens, Roche Diagnostics, Danaher Corporation, Johnson & Johnson, Qiagen, Becton, Dickinson and Company, Nova Biomedical, and Quidel Corporation, among others.
Some Key Highlights from the Report
The Glucose Monitoring Products segment dominated the market with a share of 28.5% in 2019 due to the growing occurrence of diabetes and an increase in the number of glucose monitoring products. Also, the increasing prevalence of cancer globally contributes to the growth of the Tumor/Cancer Marker Testing Product.
The Home care Settings is expected to register the highest CAGR of 10.9% over the forecast period as the patients prefer home care settings.
Asia-Pacific is expected to register the highest CAGR over the forecast period due to the increasing prevalence of infectious diseases and diabetes.
The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Point of Care Testing industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
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Emergen Research has segmented the global Point of Care Testing Market on the basis of Product, End-User, Mode of Purchase, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Infectious Disease Testing Products
Glucose Monitoring Products
Pregnancy and fertility Testing Products
Cardio-metabolic Monitoring Products
Hematology Testing Products
Cholesterol Testing Products
Tumor/Cancer Marker Testing Products
End-User Outlook (Revenue, USD Billion; 2017-2027)
Home care Settings
Mode of Purchase Outlook (Revenue, USD Billion; 2017-2027)
Over-the-counter (OTC) Products
Prescription Based Products
The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
Regional Bifurcation of the Point of Care Testing Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Objectives of the Report:
Industrial structure analysis of the Point of Care Testing market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Point of Care Testing market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Point of Care Testing market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
Thank you for reading our report. For further queries regarding the report or customization options, please connect with us. Our team will ensure you get a report well-suited to your needs.
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Point of Care Testing Market Size Worth USD 57.08 Billion by 2027
originally published at Health - Trend Magazine