Point of Care Testing Market Expected to be Valued at USD 30 Billion by 2022: Radiant Insights, Inc

11 October 2018: Point-of-Care testing can be defined as the medical diagnostic testing performed outside the clinical laboratory near to the place where the patient is receiving treatment. This type of testing is performed by non-laboratory personnel and the results are used for clinical decision making. The Point-of-Care tests have immense potential to improve global health, and to eventually reduce public and national spending on health.

The Point-of-Care testing devices have now found applications in a large number of medical conditions. Due to its increased usage in the field of critical care settings to deliver decentralized, patient-centric healthcare to the patients, the projections for the global Point-of-Care testing market is expected to witness a rapid growth. It is predicted that by 2022, the global Point-of-Care testing market will reach U$$ 30 Billion.

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As per RNCOS report “Global Point of Care Testing Market, by Product (Glucometers, BGE Analyzers, Pregnancy Tests, Infectious Diseases, etc.), Outlook 2022”, the global Point-of-Care testing market is anticipated to witness a rapid growth during 2016-2022. This report provides a detailed analysis of the current and future market scenario of the global Point-of-Care testing market with a brief outlook of the IVD industry. The report provides insight about the major drivers, such as increasing awareness about POCT, technological advancements, increasing FDA approvals, for the global Point-of-Care testing market.

Furthermore, few challenges, such as product recalls and lack of regulatory standards, hindering the growth of the global Point-of-Care testing market have also been mentioned in the report. In addition, the report also highlights various opportunities available for growth of the global Point-of-Care testing market. Various trends and developments in the industry have also been cited in the report.

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The global Point-of-Care testing market has been segmented on the basis of type of product. The major types of Point-of-Care testing present in the market include glucose monitoring kits, blood gas and electrolyte analysers, pregnancy & fertility testing kits, cardiac markers, infectious diseases testing kits, coagulation monitoring kits and drug-of-abuse testing kits amongst others. According to the report, glucose monitoring kits accounted for the largest share in 2016 due rising prevalence of diabetes & technological advancements in self-monitoring of blood glucose. Based on geography, the report divides the market into North America, Europe, Asia-Pacific, and Rest of the World. In 2016, North America accounted for the largest share.

The last section of the report discusses about the prominent players in global Point-of-Care testing market. A brief business overview and financial information about each of these players has been provided, along with their product portfolios. The recent developments of every player have also been presented in the report. Overall, the research contains exhaustive information that will help clients in formulating market strategies and assessing opportunity areas in the global Point-of-Care testing market.

About Radiant Insights
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