(MoneyNewsWire.Net, July 12, 2017 ) According to the report Global Point-Of-Care Diagnostics Market, published by Market Data Forecast, the global market is projected to reach USD 30.01 billion by 2021, at a CAGR of 9.76% from 2016 to 2021.
Point-of-care diagnostics allow a speedy, convenient, and cost-efficient way to diagnose diseases at healthcare centers and hospitals. Point-of-care diagnostics is a term collectively used for diagnostic procedures and tests performed on-site. As compared to conventional in-laboratory tests, point-of-care diagnostics have the advantage of speed and convenience without compromising on consistency. The speed factor, especially, is the greatest attribute of point-of-care diagnostics, because faster diagnosis facilitates faster patient management. Point-of-care diagnostics help cut down on the need for sophisticated diagnostic systems for regular tests like blood tests and urine tests.
The point-of-care diagnostics market is at a fairly developed stage right now, as it is composed of products catering to the needs of various domains. Many advanced point of care diagnostic products are on the verge of being used practically and widely. But, more than innovative and advanced point-of-care devices, there is an extensive need for inexpensive solutions that can be set up in regions where infectious diseases are highly prevalent. In developing regions, these tests are crucial in counterbalancing the lack of adequate laboratory capacity. This is one of the most promising opportunities that can be grabbed by market players.
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Global Point-Of-Care Diagnostics Market: Drivers & Restraints Rising levels of patient awareness are expected to play a key role behind growth on account of the fact that patients, particularly the ones suffering from long-term diseases such as diabetes, are actively participating in the shift relating to the implementation of point-of-care diagnostic practices. Additionally, healthcare practitioners have been observed to be increasingly more open and willing to adopt the use of point-of-care diagnostic consumables and medical devices thereby resulting in rapid demand and growth of this market. Also, reluctance from the industry towards changing the existing norms, frequent product recalls, stringent regulatory framework and unfavorable reimbursement scenario are some of the challenges faced by the point-of-care diagnostics market.
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Global Point-Of-Care Diagnostics Market: Segmentation By Product type Introduction Infectious Diseases Cardiac Markers Oncology Markers OTC Diagnostic Tests Drugs Of Abuse Blood Gas Testing Fertility Testing Urinalysis Coagulation Hematology Glucose Monitoring Ambulatory Chemistry Decentralized Clinical Chemistry Others Y-o-Y Growth Analysis, By Product Market Attractiveness Analysis, By Product Market Share Analysis, By Product By End-Users Introduction Clinics Hospitals Home Healthcare Ambulatory Care Settings Laboratories Others Y-o-Y Growth Analysis, By End-Users Market Attractiveness Analysis, By End-Users Market Share Analysis, By End-Users By Mode of Delivery Introduction OTC Prescription Y-o-Y Growth Analysis, By Mode of Delivery Market Attractiveness Analysis, By Mode of Delivery Market Share Analysis, By Mode of Delivery
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Global Point-Of-Care Diagnostics Market: Overview Development of information technology relating to health care systems plays an important role in the development of the point-of-care diagnostics market. Clinics and other healthcare establishments, in order to provide effective and fast diagnostic results, are opting for point-of-care test, which are consequently influencing industrial growth. Advances in technology and introduction of cost effective and high quality medical solutions aimed at achieving miniaturization and lab automation are expected to serve the point-of-care diagnostics market as a vital driver.
The introduction of healthcare information systems such as EHR (e-health records) has essentially increased the penetration rates of these tests which enables considerable automation of diagnostic competences of any medical facility. However, there are some certain market restraints that players need to overcome. The effort and co-ordination required among healthcare centers, researchers, practitioners and manufacturers is the greatest restraining factor for the growth of point-of-care diagnostics market
Global Point-Of-Care Diagnostics Market: Region-wise Outlook On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is expected to dominate the overall market in the next five years owing to the presence of premium healthcare infrastructure, established reimbursement framework and high healthcare affordability in this region. Moreover, the presence of high levels of awareness amongst the patient population base as well as the physicians associated with fast disease diagnosis is supportive in the industrial revenue. However, emerging markets such as China, India, and Brazil offer high growth potential for companies involved in the development and distribution of point-of-care diagnostic devices. Increasing initiatives by market players, growing patient population base, and rise in the number of partnerships and joint ventures among point-of-care providers are the key factors driving the growth of point-of-care diagnostics market in emerging countries.
Key Questions Answered What is the current and future Global Point-Of-Care Diagnostics Market outlook in global? What trends are affecting the global market? What is the competitive landscape and market share of major players in the Global Point-Of-Care Diagnostics space globally? What are the analysis of the macro and micro factors that affect the Global Point-Of-Care Diagnostics Market on both global and regional scales? What are the key, high growth markets that Global Point-Of-Care Diagnostics manufacturers should expand into? Which market segments are growing the fastest? What are the unmet needs with the Global Point-Of-Care Diagnostics currently on the market? How will emerging technologies fulfil these unmet needs? What is physician perception and market outlook of Point-Of-Care Diagnostics Market ? What are the challenges and barriers that have hindered widespread adoption of Global Point-Of-Care Diagnostics Market? What are the key sustainability strategies adopted by market players ?
Global Point-Of-Care Diagnostics Market: Key Players Some of the major companies dominating the global Auto immune disease market by their products and services include Bio-Rad, Siemens Healthcare, Abbott Laboratories, Crescendo Bioscience, Roche Diagnostics SQI Diagnostics, AESKU Diagnostics, INOVA Diagnostics Inc., BioMerieux SA, Beckman Coulter Inc., Hemagen Diagnostics, Quest Diagnostics, Eli lilly, Glaxosmithkline Plc.
Reasons to buy Autoimmune Diagnostics Market Report: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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