Point Of Care (POC) Market Size To Surpass USD 87.9 Billion In 2029, Exhibiting A 7.7% CAGR By 2030

(MENAFN- EIN Presswire)

Point of Care (POC)_industry

Global Point of Care (POC) Market include - Abaxis, Inc., Abbott Laboratories, Accubiotech Co, Ltd

“The Point of Care (POC) Market demands rapid diagnostics, portable devices, real-time data, user-friendly interfaces, and accuracy for immediate care.” ” - exactitudeconsultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 27, 2024 /EINPresswire / -- latest recently released a research report titled global Point of Care (POC) Market insight, forecast to 2030, Point-of-care (POC) Market refers to medical equipment that are used to examine or monitor various conditions, such as diabetes, cancer, and heart problems, and provide rapid findings. The need for the medical industry to become more patient-centred is driving the POC market's expansion. POC's skill and ease of use have drastically changed the patient care system. Improvements in the field of micro fluids have led to the development of Point-of-care systems. POC devices are now more reasonably priced, user-friendly, portable, and yield faster results thanks to significant advancements in the microfabrication and micro fluids processes over the past few years.

Point of Care (POC) Market size surpassed USD 45.12 billion in 2023 and is expected at USD 87.9 billion in 2029 to grow at a CAGR of over 7.7% from 2024 to 2030.

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Key Players Driving the Market:

Abaxis, Inc., Abbott Laboratories, Accubiotech Co, Ltd., ACON Laboratories, Inc., Becton, Dickinson and Company, Danaher Corporation, Chembio Diagnostics, EKF Diagnostics, Trinity Biotech plc, Instrumentation Laboratory (a Werfen Company), Nova Biomedical, PTS Diagnostics, Sekisui Diagnostics, Thermo Fisher Scientific, and bioMérieux S.A.

Recent Development:

October 2023: EKF Diagnostics opened its new state-of-the-art life sciences manufacturing facility in the U.S. The opening is aimed to meet the increasing demand of its growing customer base.

November 2022: Boditech Med Inc. received approval for domestic use of the Boditech Quick COVID-19 Ag Saliva test from the Ministry of Food and Drug Safety (MFDS). Quick COVID-19 Ag Saliva is an advanced COVID-19 Ag home test with a saliva sample that detects all COVID-19 virus variants, including the Omicron variant and produces results in 15 minutes.

Point of Care (POC) Market opportunity

The growing need for quick and precise diagnostic solutions is fueling the Point of Care (POC) market, which offers the healthcare industry a substantial growth opportunity. The need for portable, user-friendly diagnostic tools that can be used at or close to the site of patient treatment has increased as healthcare moves toward more decentralized models. The necessity for quicker decision-making in emergency and remote situations, the aging population, and the increasing incidence of chronic diseases are the main drivers of this development. Furthermore, POC devices' capabilities are being improved by technical developments in miniaturization, networking, and data analytics, which is making them more dependable and available.

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Point of Care (POC) Market Trends

The growing need for quick and easy diagnostic solutions is propelling the Point of Care (POC) market's notable expansion. The necessity for centralized laboratory testing is being reduced by technological advancements that allow healthcare practitioners to conduct tests and obtain findings at or close to the patient's location, such as portable diagnostic devices and smaller lab equipment. With a spike in the use of POC devices for quick testing and monitoring, the COVID-19 pandemic exacerbated this tendency even further. The growing incidence of chronic illnesses like diabetes and cardiovascular problems, where prompt diagnosis is essential, is also helping the market. Furthermore, the need for POC solutions is being driven by rising consumer awareness and the move toward personalized healthcare, which provide quicker, easier-to-access, and frequently more affordable

Key Market Segments: Point of Care (POC) Market

Point of Care (POC) Market by Product, 2020-2029, (USD Million)

Blood Glucose Monitoring

Infectious Diseases

Cardiometabolic Diseases

Pregnancy & Infertility Testing

Hematology Testing

Point of Care (POC) Market by End User, 2020-2029, (USD Million)

Hospital Bedside

Physician's Office Lab

Urgent Care & Retail Clinics

Homecare/Self-Testing

Regional Analysis

North America

North America, led mainly by the U.S., has the greatest share of the global POC market. The prevalence of significant market participants, a well-established healthcare infrastructure, and the rapid adoption of cutting-edge technologies are the reasons for this supremacy regulatory policies and the high cost of advanced POC devices could hinder market growth.

Europe

Europe is the second-largest market for POC testing. Countries like Germany, France, and the UK are significant contributors to the market growth disparities among different regions and the complex regulatory environment across the European Union can slow down the adoption of POC devices.

Asia-Pacific

The Asia-Pacific region is expected to witness the fastest growth in the POC market. Countries like China, Japan, India, and South Korea are leading the growth due to increasing healthcare investments. Inconsistent healthcare infrastructure across countries and high competition among local manufacturers could impact market penetration.

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