Point-of-Care (POC) Diagnostic Devices Market to Grow with a Moderate CAGR During 2021-2029; Rising Demand for Glucometers, Pulse Oximeters and Other POC Testing Products Owing to COVID-19 Pandemic to Create Opportunities for Market Growth

Research Nester published a report titled “Point-of-Care (POC) Diagnostic Devices Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global point-of-care (POC) diagnostic devices market in terms of market segmentation by technology, type, product type, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global point-of-care (POC) diagnostic devices market is segmented by end-user into home, clinics, hospitals, assisted living healthcare facilities, laboratories, and others, out of which, the clinics segment is anticipated to hold the largest market share by the end of 2021, owing to the growing affordability of the diagnosis devices for performing different tests for the detection of diseases, along with the increasing contribution by numerous community pharmacies and retail clinics for disease prevention and early detection.

The global point-of-care (POC) diagnostic devices market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, owing to the increasing prevalence of target diseases and therefore the need for pre-diagnosis in home settings. Further, growing demand for POC testing devices for COVID-19, such as glucometers, pulse oximeters, and rapid COVID-19 test kits among others, backed by the rising concern for coronavirus pandemic, is further projected to contribute to the market growth in the coming years.

Regionally, the global point-of-care (POC) diagnostic devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions, out of which, the market in North America is anticipated to hold the largest market share by the end of 2029, owing to the presence of a strong healthcare network in the region, along with the presence of several key players that are operating in the market.

Rising Need for Early Detection and Diagnosis of Diseases

Backed by the favorable initiatives of the government of nations worldwide, diagnosis of diseases in today’s era has become more affordable to individuals. The need for the detection and diagnosis of diseases can further be attributed to the rising concern for the prevalence of infectious diseases. Moreover, as the diagnosis of several diseases can be done at home setting, hence manufacturers of POC testing devices are increasingly focusing on to commercialize these devices for greater portability and effectiveness with enhanced user-friendly capabilities. Further, owing to the challenges observed in receiving quality and timely healthcare services in several developing nations worldwide, there is a rising demand for POC diagnostic devices that can help lower the prevalence of such diseases. Such factors are therefore anticipated to drive the market growth in the coming years.

However, stringent regulatory policies for the approval of POC testing kits is expected to operate as key restraint to the growth of the global point-of-care (POC) diagnostic devices market over the forecast period.

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This report also provides the existing competitive scenario of some of the key players of the global point-of-care (POC) diagnostic devices market which includes company profiling of Abbott Point of Care Inc., QIAGEN GmbH (NYSE: QGEN), Nexus Dx, Inc., Siemens Healthcare GmbH (OTCMKTS: SMMNY), Becton, Dickinson and Company (NYSE: BDX), Danaher Corp. (NYSE: DHR), Roche Diagnostics Corporation (OTCMKTS: RHHBY), Beckman Coulter, Inc., Nova Biomedical Corporation, Abaxis, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global point-of-care (POC) diagnostic devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.