Point of Care Testing Market Demand Analysis and Growth Forecast from 2020 to 2026

1
Point of Care Testing Market 2020-2026 Growth
Forecast Industry Share Report

• Point of care testing (POC) market is poised to
  witness tremendous growth over the projected
  timeframe of 2020 to 2026. This can be credited
  to increased popularity of point of care testing
  as an advanced healthcare solution. Rising
  prevalence of chronic diseases across the globe
  and growing awareness regarding early disease
  diagnosis have also led to increased adoption of
  POC testing. According to the World Cancer
  Report, prevalence of cancer is expected to
  increase by nearly 50 accounting for more than
  15 million new cases of cancer in 2020. According
  to Global Market Insights, Inc. report, point of
  care testing market size is projected to surpass
  USD 39.1 billion and is expected to show a
  significant growth rate of 7.1 through 2026.
• With regards to the product spectrum, drug of
  abuse (DoA) testing segment held an appreciable
  market share of 9.2 in the past and is projected
  to grow over time owing to numerous advantages
  endowed by this testing such as qualitative data
  and quick results.

2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
2

• In terms of application, infectious disease
  testing segment is estimated to register a
  notable growth rate of 7.3 through 2026 with a
  valuation of USD 2.9 billion. This can be
  attributed to the significance of point of care
  tests in improving detection and management of
  infectious diseases by reducing the time between
  infection testing and diagnosis. Moreover,
  benefits of point of care testing such as faster
  diagnosis, which provides the patients with
  timely access to treatment and care, will
  instigate application of point of care testing
  for infectious disease testing over the
  foreseeable future.

• In terms of end-use, research laboratories
  segment is anticipated to show enormous growth
  over the upcoming years on account of rising
  application of point of care testing for cancer
  marker devices. In this regard, increasing
  research activities for developing diagnostic
  tests for early detection of cancerous tumors
  will open new growth avenues for the industry.
  Moreover, market players are also partnering with
  research laboratories for developing
  sophisticated point of care tests for enhancing
  their product offerings which will complement the
  segment growth significantly. For the record, in
  2019, the segment accounted for a sizeable market
  share of 11.9.

• Speaking of the technology landscape,
  immunoassays segment accounted for a valuation of
  USD 4.4 billion in 2019 and is likely to
  experience steady growth during subsequent years.
  The growth can be credited to increased usage of
  rapid immunoassays at point of care facilities
  such as emergency rooms, student health clinics
  and labor and delivery suites for improving
  quality of care

2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
3
Request for a Sample Copy of this Report _at_
https//www.gminsights.com/request-sample/detail/3
086
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
4

• Regional Analysis

• Asia Pacific point of care testing industry is
  projected to observe substantial growth rate of
  8.7 over the analysis timeframe owing to rising
  incidence of infectious diseases and increasing
  investment in healthcare by government. For
  instance, as per Avert.org report, in 2019,
  around 5.8 million residents in Asia Pacific were
  diagnosed with HIV infection. This has urged
  government to focus on early diagnosis and
  mitigation of such infectious diseases which will
  have a positive impact on the industry growth.
  Further, growing demand for point of care
  diagnostic tests across hospitals and
  laboratories for emergency and critical care,
  particularly for influenza, will contribute to
  the regional growth.

• Competitive Analysis

• Prominent industry players operating in point of
  testing care market such as Abbott, Bio-Rad
  Laboratories, BioMerieux, Siemens Healthineers,
  Trinity Biotech, OraSure Technologies, Sysmex
  Corporation, etc. are focusing on novel product
  launches, mergers, acquisitions, geographical
  expansion in order to gain strong market
  presence. For instance, in 2017, Abbott announced
  acquisition of Alere, one of the renowned
  point-of-care diagnostics companies.

2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
5
Latest Research Report On Point of Care Testing
Market _at_ https//www.gminsights.com/industry-analy
sis/point-of-care-testing-market
Request for sample of this research report_at_
https//www.gminsights.com/request-sample/detail/
3086
Request for customization https//www.gminsights
.com/roc/3086
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
6
Stay In Touch You can visit us at
www.gminsights.com
Thank You!
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
www.gminsights.com