[FURL=https://www.industryarc.com/Research/Point-Of-Care-Test-Market-Research-507063?utm_source=freeprnow&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Point Of Care Test Market[/FURL] size was estimated at $21.3 billion in 2020 and is projected to grow at a CAGR of 3.6% during the forecast period 2021-2026. Point Of Care Test is the diagnostic test that is done with the help of electronic and non-electronic devices. Point Of Care Test provide rapid detection and information for patient care at the time and site. It is performed for rapid detection of electronic health records, oxygen saturation, acute coronary syndrome, carpal tunnel syndrome. Point Of Care Test is performed outside of laboratory and near patient site. It can be used for self-testing such pregnancy test kit and glucose monitoring kit. Increasing prevalence of chronic diseases such as diabetes, cancer, heart diseases and infectious diseases coupled with rising aging population is major factor driving the growth of the market. Moreover, growing demand for Point Of Care Test for easy and fast detection of diseases further enhance the overall market demand for Point Of Care Test during the aforesaid period.
Key Takeaways
In 2020, North America dominated the Point Of Care Test Market owing to rising incidence of chronic diseases.
Increasing innovation and development in Point Of Care Test across the globe is driving the market growth of Point Of Care Test.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Point Of Care Test Market report.
High cost of point of care testing devices and stringent regulatory policies are challenging the growth of the market.
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Point Of Care Test Market Segment Analysis- By Geography
North America dominated the Point Of Care Test market share accounting for 42% of the market in 2020. This is mainly owing to increasing prevalence of chronic diseases such as cancer, diabetes and others in this region. According to, Centres for Disease Control and Prevention (CDC), in U.S. more than 100 million adults are suffering from diabetes or prediabetes. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare coupled with rising aging population.
Point Of Care Test Market Drivers
Increasing Prevalence of Chronic Diseases
Rising Research and Development
Point Of Care Test top 10 companies are Abbott Laboratories, Johnson & Johnson, Siemens Healthineers, Roche Diagnostics, AccuBioTech, Nova Biomedical, Lifescan Inc., Becton, Dickenson and Company (BD), Thermofisher Scientific and Danaher Corporation.
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