Point of Care Diagnostics Market - Global Industry Insights, 2025

Cancer prevalence is increasing worldwide and often it is diagnosed in late stage, which affects the medical decision significantly. As cancer may be potentially cured if diagnosed in early stages, the importance of rapid point of care diagnostic tests is increasing in medical sector. Currently, cancer diagnosis is done by invasive techniques such as biopsy. Rapid biomarker identification tests are not present in extensive number. The U.S. Food & Drug Administration has approved breast cancer test in March 2018, offered by the company 23andMe. This cancer test is capable of diagnosing three of the 1000 mutations in the BRCA1 and BRCA2 genes associated with increased risk of breast, ovarian, and prostate cancer. Cancer point of care diagnostic/biomarker testing holds huge potential for market growth, as there is no significant competition in this sector.

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Market Dynamics

Demand for point of care testing is increasing, owing to factors such as lack of access to centralized laboratories in emerging economies such as Asia Pacific, independence from centralized laboratories as the testing can be done on the spot without the need of laboratory facilities, and rapid diagnosis, which is expected to create significant demand for point of care diagnostics market. The market is expected to gain significant growth, owing to further developments in point-of-care diagnostics aimed towards impacting medical outcomes, increased adoption of rapid medical diagnostic devices, and rising prevalence of chronic diseases such as HIV, infectious diseases, and diabetes. Development of innovative point of care tests for wide number of applications is expected to fuel growth of the market. Product recalls in point of care diagnostics market and supply chain related issues in remote areas are expected to hinder the market growth

Key features of the study:

This report provides in-depth analysis of point of care diagnostics market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025), considering 2016 as the base year

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

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It profiles leading players in the global point of care diagnostics market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies

Key companies covered as a part of this study include Danaher Corporation, Abbott Laboratories, Acon Laboratories, Inc., Hoffman-La Roche Ltd., Becton, Dickinson, and Company, Johnson & Johnson, Trinity Biotech Plc, and Siemens Healthineers.

Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics

The global point of care diagnostics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the point of care diagnostics market

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