POC Diagnostics Market expected for a USD 14.65 billion surge (2022-2027), fueled by rising elderly demographics, as per Technavio.
Industry: Healthcare
Factors Driving Growth: Focus on the Growing Geriatric Population
New York, NY (PRUnderground) December 6th, 2023
The Point of Care (POC) Diagnostics Market is anticipated to experience a robust growth, estimated at USD 14.65 billion from 2022 to 2027, as per Technavio. The market is projected to witness a Compound Annual Growth Rate (CAGR) of nearly 10.65% throughout the forecast period. The surge in the POC diagnostics market is predominantly attributed to the escalating global elderly population. Unhealthy lifestyles and inadequate diets contribute to prevalent health issues, especially among the elderly, who are more susceptible to diseases. POC diagnostic devices play a pivotal role in identifying infections among the elderly. For deeper insights into historical (2017 to 2021) and forecasted market size (2023 to 2027), request a sample report.
Key Highlights:
- Specialized coverage on the Russia-Ukraine war, global inflation, COVID-19 recovery analysis, supply chain disruptions, global trade tensions, and the risk of recession.
- Global competitiveness and key competitor positions.
- Market presence categorized as Strong/Active/Niche/Trivial – acquire the report.
Market Segmentation: Technavio has segmented the market based on product (hematology diagnostics, infectious disease diagnostics, rapid cardiovascular diagnostics, rapid coagulation diagnostics, and others), end-user (hospitals and clinics, homecare settings, and clinical diagnostic laboratories), and geography (North America, Europe, Asia, and Rest of World).
Segmentation Assessment: Anticipate significant market share growth in the hematology diagnostics segment during the forecast period. This segment includes products related to hematology diagnostics, blood glucose diagnostics, and HbA1c diagnostics, driven by the high prevalence of thalassemia and anemia.
Geographical Overview: North America is poised to contribute 40% to the global market growth. Factors such as the rise in chronic diseases, increasing infectious ailments like COVID-19, rising healthcare expenditures, technology adoption, and the presence of established companies collectively fuel the expansion of the POC diagnostics market in North America. Gain insights into market contributions by various segments, including country and region-wise, with historical (2017 to 2021) and forecasted market size (2023 to 2027) – Download a Sample Report.
Market Dynamics: Leading trends influencing the market include a shift from traditional testing methods to rapid diagnostics, enabling quick medical examinations in resource-limited settings. Rapid Diagnosis Tests (RTDs) now offer results within 2 hours, gaining global popularity. Challenges include restricted availability of POC diagnostics in developing nations, hindering market growth.
Key Data Covered:
- CAGR of the market during the forecast period.
- Detailed information on factors driving market growth between 2023 and 2027.
- Precise estimation of the Point of Care (POC) Diagnostics Market size and its contribution.
- Accurate predictions about upcoming trends and changes in consumer behavior.
- Growth analysis across APAC, Europe, North America, South America, and the Middle East and Africa.
- Comprehensive analysis of the market’s competitive landscape and detailed vendor information.
- Thorough analysis of factors challenging the growth of POC Diagnostics Market companies.
Related Reports:
Point of Care Glucose Testing Market: The point of care (POC) glucose testing market share is expected to increase to USD 972.07 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.44%.
Point of Care (POC) HIV Testing Market: The global point of care (POC) HIV testing market size is estimated to grow by USD 290.77 million at a CAGR of 2.91% between 2022 and 2027.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by End-User
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio Research
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
