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The point-of-care diagnostics devices and equipment market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of 11%, as per The Business Research Company’s market report!

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The Point-Of-Care Diagnostics Devices And Equipment Market Size In 2022 And Forecast
The global point-of-care diagnostics devices and equipment market grew from $24.44 billion in 2021 to $28.28 billion in 2022 at a compound annual growth rate (CAGR) of 15.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The point-of-care diagnostics devices and equipment market is expected to grow to $42.89 billion in 2026 at a CAGR of 11.0%.

The point-of-care diagnostics devices and equipment market consists of sales of point-of-care (POC) diagnostics devices and equipment and related services.

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Increase In The Incidence Of Target Diseases Is Driving The Growth Of The Point-Of-Care Diagnostics Devices And Equipment Market
For example, according to the Centers for Disease Control and Prevention, 2019, Heart disease is the leading cause of death in the U.S. as well, causing approximately 647,000 deaths per year.

Competitive Landscape And The Regional Analysis Of The Point-Of-Care Diagnostics Devices And Equipment Market
Major players in the point-of-care diagnostics devices and equipment market are Abbott, F. Hoffmann-La Roche, Siemens Healthineers, Danaher, Beckman Coulter, Becton Dickinson and Company, QIAGEN N.V., Johnson & Johnson, Alere Inc, and BioMerieux.

Additionally, as per TBRC’s research – North America was the largest region in the point-of-care diagnostics devices and equipment market in 2021 holding the largest market share.

The Point-Of-Care Diagnostics Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the point-of-care diagnostics devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the point-of-care diagnostics devices and equipment market.

Testing Over-The-Counter – A Key Trend In The Point-Of-Care Diagnostics Devices And Equipment Market
FDA has approved OTC test kits for cholesterol, fecal occult blood, pregnancy, and HIV/HCV. This method would improve the access to testing and early detection of the disease. These testing kits may generate more revenue than prescription tests over the forecast period due to ease of using the kits, increased home care and self-testing, and a rise in availability and adoption rate.

Point-Of-Care Diagnostics Devices And Equipment Market Segmentation By The Business Research Company

1) By Type: Infectious disease testing kits, Cardio metabolic monitoring kits,, Cholesterol testing kits, Pregnancy and fertility tests kits, Tumor/cancer markers, Urinalysis testing kits, Hematology testing kits, Drugs of abuse testing kits, Fecal occult testing kits, Other Types

2) By End User: Professional diagnostic centers, Hospitals/critical care centers, Outpatient healthcare Setting, Ambulatory care settings, Research laboratories, Home

3) By Prescription Mode: Prescription-based Testing Devices, Over-The-Counter (OTC) Testing Devices

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