Point-of-Care Testing Devices Market Recent Updates to Reflect Impressive Growth Rate by 2027

Point-of-Care Testing Devices Market: Introduction

• Point-of-care testing is also known as the bedside testing. It is defined as the medical diagnostic testing which is done near or at the place and time of patient care. Point-of-care testing devices can be defined as the devices employed for obtaining diagnostic results close to the patient or while with the patient.
• Point-of-care tests are performed employing portable, transportable, handheld devices, and test kits. Point-of-care tests are performed in a range of locations, including at home, at health care practitioner's office, in emergency department, at the accident scene, in ambulances, in the radiology department, and in an infectious disease containment unit.
• The advantages associated with point-of-care testing include convenience, availability of quicker results, and faster implementation of therapy. They are mainly employed for pregnancy testing and home glucose testing. The other point-of-care tests performed are for rapid strep, fecal occult blood, and hemoglobin, as well as prothrombin time/international normalized ratio (PT/INR) for people on the anticoagulant warfarin.

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Key Drivers and Restraints of Global Point-of-Care Testing Devices Market

• Growing customer focus of the health care industry increases the need for convenient diagnosis, screening tests, and monitoring. This contributes to the growth of the point-of-care testing, necessitating the need for point-of-care testing devices, thereby resulting in the growth of the market.
• Significant increase in infectious diseases, contributes to rise in need for rapid screening for diseases such as influenza, HIV, dengue, and malaria. Point-of-care tests for infectious diseases lead to efficient and prompt treatment, aiding in preventing the spread of the disease. This rise in demand for point-of-care testing of infectious diseases fuels the growth of the point-of-care testing devices market.
• Strong focus of market players on research & development for innovating new devices incorporating the technological advances aid in the growth of the point-of-care testing devices market
• Rise in prevalence of diabetes is expected to create demand for at home blood glucose monitoring device. According to the WHO, the global prevalence of diabetes is risen to 8.5% in adults over the age of 18 years in 2014 from 4.7% in 1980. This high prevalence of the disease and ease of measuring blood glucose levels employing the glucose monitoring device are anticipated to boost the growth of the point-of-care testing devices market.

North America to Lead Global Point-of-Care Testing Devices Market 

• In terms of region, the global point-of-care testing devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global point-of-care testing devices market in 2018, owing to strong presence of leading market players, high awareness among the people concerning the point-of-care testing devices, increase in product approvals, and high prevalence of lifestyle diseases, among the people
• Europe was the second largest market for point-of-care testing devices in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for point-of-care testing devices, followed by Latin America and Middle East & Africa. Rise in number of non-communicable diseases and increase in government initiatives for improvement of health care industry are expected to accelerate the growth of the point-of-care testing devices market in Asia Pacific.

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• Europe was the second largest market for point-of-care testing devices in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for point-of-care testing devices, followed by Latin America and Middle East & Africa. Rise in number of non-communicable diseases and increase in government initiatives for improvement of health care industry are expected to accelerate the growth of the point-of-care testing devices market in Asia Pacific.