The Global point of care diagnostics market 2029 is projected to grow during the forecast period due to the increasing incidences of infectious and chronic diseases. Fortune Business Insights™ publishes this information in a report titled, Point of Care Diagnostics Market 2029. As per the report, the point of care diagnostics market size was valued at USD 46.65 billion in 2021. The market size is expected to rise from USD 36.37 billion in 2022 to USD 51.94 billion by 2029 at a CAGR of 5.2% during the projected period.
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Increasing Manufacturing Of Test Kits To Bolster Market Growth
The outbreak of COVID-19 pandemic affected various industries in terms of revenue generation and production. However, the healthcare sector has witnessed a positive impact of this pandemic. The point of care diagnostics had high demand in the market due to increasing cases of COVID-19 and rising demand for frequent tests. During the pandemic, key market players have launched new products to meet customer demands. These factors have bolstered the market growth during the pandemic period.
North America Holds Highest Market Share Due to Favorable Reimbursement Policies
North America dominates the global point of care diagnostics market share due to increasing cases of infectious diseases and the rising prevalence of chronic diseases among the population. The North American market stood at USD 14.48 billion in 2021. The regional market growth is expected to continue during the forecast period due to favorable reimbursement policies that are anticipated to boost the service demand
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Key Questions Answered in the Report
- What is the expected global Point of Care Diagnostics Market size in terms of value during the period 2022-2028?
- What is the expected future scenario and revenue to be generated by different types of solutions including software and platform, hardware, and support services?
- Which region is the largest market for the global Point of Care Diagnostics Market?
- What is the expected future scenario and revenue to be generated by different regions and countries in the global precision agriculture market such as North America, South America, Europe, the U.K., China, Asia-Pacific and Japan, and Middle East and Africa?
- What is the competitive strength of the key players in the global Point of Care Diagnostics Market based on the analysis of their recent developments, product offerings, and regional presence?
- Which are the different consortiums and associations present in the worldwide Point of Care Diagnostics Market, and what are their roles, focus areas, and key functions in this market?
- Where do the key Point of Care Diagnostics Market companies lie in their competitive benchmarking, compared on basis of market coverage and market potential?
Leading Players operating in the Point of Care Diagnostics Market are:
- 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
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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