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PoC Platform & Technology Market Segmented By Lateral Flow Based Assays, Enzyme Label, Microfluidics, Biochips, Biosensors Technology in Clinics, Hospitals, Laboratories, Home Care
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.
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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.
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Get a Customized VersionPoC 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.
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.
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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.
Some of the leading providers of PoC platform & technology include
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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.
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.
