PoC Platform & Technology Market to grow at a CAGR of 9.2%
The point-of-care (PoC) platform & technology sales was valued at ~US$ 24.0 Bn in 2020, and is expected to grow at a CAGR of ~9.2% during the forecast period 2021-2031. One of the major growth drivers for the PoC platform & technology sales include rising incidences of diabetes and cancer patients across the world.
The adoption of PoC platforms & technologies helped in faster monitoring and rapid diagnosis of tests, thereby making it convenient for both patients as well as healthcare professionals. Thus, PoC platforms and technologies have contributed a lot to the healthcare landscape which leads to their overall transformation.
Find Out More about the Report Coverage
What is Driving Demand for PoC Platform & Technology at a Global Level?
The PoC platforms and technologies have significantly contributed to the transformation of healthcare landscape by bringing rapid diagnosis and monitoring tests closer, and making it more convenient for healthcare providers and patients. The test results obtained by electronic health records (EHR) assists in quicker diagnosis leading to faster decision making and early treatment onset.
The PoC tests and devices help alleviate various pain points of hospital-based healthcare providers who are under constant pressure for delivering cost and time efficient care that enhances treatment outcomes of patients.
These rapid PoC tests address the issues of latency in test results by facilitating accurate evidence-based diagnostic decisions within fraction of time when compared to the time taken by centralized laboratory tests.
These factors are estimated to positively impact the PoC platform & technology demand during the forecast period.
Customize this Report
Explore Intelligence Tailored to Your Business Goals.
Increasing Incidences of Infectious and Chronic Diseases is expected to propel the Demand
PoC platform & technology allow medical professionals to make decisions in patient’s vicinity, which results in significant healthcare delivery with faster results and immediate clinical management. The novel point-of-care tests offer diagnostic techniques for the prevention and treatment of infectious diseases such as HIV, Hepatitis B Virus, and chronic diseases such as diabetes, cancer, and cardiovascular disorders.
According to the International Journal of Nanomedicine, in 2017, around 36.7 million people were affected by Human Immunodeficiency Virus (HIV) and around 400 million people were affected by viral hepatitis across the globe. The survey also stated that with no reliable treatment for HIV infection, early diagnosis is a critical factor in managing AIDS patients, as it is a major cause for morbidity and mortality globally.
Furthermore, the point-of-care technologies have enabled efficient monitoring of heart rate, inflammation threats, and heart failure that can potentially avert complications, reduce economic burden, and improve patient care across diverse medical and home care settings.
Increasing cancer and diabetes incidences is one of the major factors driving demand for point of care platform & technology. Monitoring of glucose, hemoglobin, ketones, and other factors allows prevention and early detection of diabetes-related acute and chronic complications, and has a positive impact on the process of care and management of patients with diabetes.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
US PoC Platform & Technology Market Outlook
The U.S. is likely to dominate the PoC platform and technology demand and is expected to maintain its dominancy over the forecast period owing to growing prevalence of lifestyle diseases, rising government initiatives and increasing number of product approvals in the country.
Moreover, point of care testing in molecular diagnostics has a wide application base that includes near patient testing in infectious disease management, oncology, hematology, prenatal testing, endocrinology and some other minor applications.
Explore Persistence Market Research’s expertise in promulgation of the business !
South Asia & Pacific Demand Outlook for PoC Platform & Technology Market
The sales in Asia Pacific are expected to show significant growth rates in global PoC platform and technology market. This can be attributed to increasing, technological advancements and new product launches, in the region. Moreover, high prevalence of infectious diseases in developing countries coupled with the increasing incidence of target diseases are another factors expected to propel sales of PoC platform & technology in the near future.
Increase in prevalence of infectious diseases coupled with increasing awareness of early diagnosis is a prominent factor supposed to boost the global POC platform & technology demand. Along with it increased disposable incomes of consumers globally is likely to drive growth in upcoming years.
Who are the Key PoC Platform & Technology Providers?
Some of the leading providers of PoC platform & technology include
- Axxicon Moulds Eindhoven B.V.
- Advanced Liquid Logic Inc.
- Health Logic Interactive Inc.
- Lifesensors Inc.
- Agilent Technologies
- Sekisui Diagnostics
- Abbott Laboratories
- Siemens Healthineers
- PTS Diagnostics
- EKF Diagnostics
- Lateral Flow Based Assays
- Enzyme Label
By End User
- Home Care
- Diagnostic and Monitoring
- Drug Development
- Quality Testing
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
PoC Platform & Technology Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.