[FURL=https://www.industryarc.com/Report/1311/POC-Diagnostic-Devices-market-research.html]Point of Care (PoC) Diagnostic Devices Market[/FURL] size in 2019 is estimated to be $24.8 billion, growing at a CAGR of 10.3% during the forecast period 2020-2025. Point of care (PoC) Diagnostic devices are designed to provide rapid detection and information for patient care at the time and site. Point of care (PoC) Diagnostic devices are used to test pregnancy, Infectious diseases, glucose and cholesterol levels. It gives quick results to the patients. Rising prevalence of chronic and infectious diseases coupled with increasing geriatric population are the major factors driving the growth of the market. Moreover, hectic lifestyle and rising preferences for home healthcare further enhance the overall market demand for Point of Care (PoC) Diagnostic Devices during the forecast period 2020-2025.Key Takeaways
In 2019, North America dominates the Point of Care (PoC) Diagnostic Devices Market owing to increasing incidence of chronic and infectious diseases.
Increasing awareness about point of care diagnostic is driving the market growth of Point of Care (PoC) Diagnostic Devices.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Point of Care (PoC) Diagnostic Devices Market report.
Stringent Regulatory Policies and Reimbursement Issues and long downtime taken for approval of product are challenging the growth of the market.
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Point of Care (PoC) Diagnostic Devices Market Segment Analysis - Geography
North America dominated the Point of Care (PoC) Diagnostic Devices market share accounting for 41% of the market in 2019. This is mainly owing to increasing prevalence of diseases and rising government initiatives for development of healthcare infrastructure.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing expenditure for healthcare and rising demand for rapid diagnostics.
Point of Care (PoC) Diagnostic Devices Market Drivers
Increasing prevalence of diseases
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Growing Government Support
Point of Care (PoC) Diagnostic Devices Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Point of Care (PoC) Diagnostic Devices Market. Point of Care (PoC) Diagnostic Devices top 10 companies are Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Becton Dickinson and Company, Nova Biomedical, PointCare Technologies, International Technidyne Corporation, Beckman Coulter, Chembio Diagnostic Systems, and AccuBioTech.
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