Point of Care Diagnostics Market: How will the Disruptions Created by Covid19 Affect the market?

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Point-of-Care (POC) Diagnostics Market Research report provides information regarding market size, share, trends, growth, cost structure, capacity, and revenue and forecast 2026

The increasing awareness about healthcare importance of proper infrastructure in healthcare set-ups are boosting the global point-of-care diagnostics market, predicts Fortune Business Insights in their new report. The report is titled,” Point-of-care Diagnostics (POC)Market: Global Market Analysis, Insights, and Forecasts, 2018 �" 2026”.

According to the report, the market is anticipated to reach US$ 28,379.6 Mn by the end of 2026 from US$ 17,019.5 Mn in 2018. The forecast period is set from 2018 to 2026 and the market is expected to grow at a CAGR of 6.6%.

Key players leading the global Point of Care Diagnostics Market include

Abbott
Hoffmann-La Roche
Johnson & Johnson
BD
Quidel
Sekisui Diagnostics, LLC
Danaher Corporation
Siemens
AccuBioTech Co., Ltd.
Chembio Diagnostic Systems, Inc.
EKF Diagnostics Holdings plc
Instrumentation Laboratory (A Werfen Company)
Nova Biomedical
PTS Diagnostics

“Increasing Need for Immunotherapy and Other Therapeutic Methods to Promote Growth”

The rise in geriatric population and their vulnerability towards various diseases is a major factor augmenting growth in the global point-of-care diagnostic market. This, coupled with the rising prevalence of infectious diseases is boosting the market. The rise in disposable incomes of people worldwide have encouraged people to opt for better healthcare treatment and facilities. This is further prognosticated to fuel the demand for point-of-care diagnostics market in the coming years.

Furthermore, prevailing occurrences of target diseases is propelling demand for point-of-care treatment methods such as molecular target therapy, immunotherapy, and other therapy methods. Such factors are anticipated to help the market generate better revenues in the years to come.

However, factors such as high cost of installation and high maintenance costs may hamper the market in the long run. Nevertheless, with advancement in technology and new product launches, the market is anticipated to grow remarkably in the years to come.