Point of Care (PoC) Diagnostics Market To Reach USD 50.51 Billion By 2026 | Reports And Data

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NEW YORK, June 12, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the was valued at USD 23.98 Billion in 2018 and is expected to reach USD 50.51 Billion by year 2026, at a CAGR of 9.6%.

According to the Centers for Disease Control and Prevention (CDC), in US alone currently more than 100 million adults are living with diabetes or pre-diabetes. Cardiovascular diseases (CVD) account for approximately 800,000 deaths in the US. On average, one person dies from CVD every 40 seconds in the US. CVD also causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union.

Point-of-care (POC) diagnostics or near-patient testing is a medical diagnostic test that allows physicians and medical staff to correctly attain real-time, lab-quality diagnostic results within minutes rather than hours. Through the use of portable blood analysers, testing at the “point of care” streamlines the diagnostic process and helps ensure patients receive the most effective and efficient care when and where it is needed. Point-of-care (POC) diagnostic testing permits staff to make speedy triage and treatment decisions when diagnosing a patient’s condition or monitoring a treatment response. By simplifying the testing process, clinicians can focus on what matters most—providing effective, quality patient care. 

Near patient testing even allows more than just bedside testing. It permits users to improve efficiency and productivity; maybe expensive than traditional diagnostics but more accurate and even reduce staff burden by bringing the focus back on the patient. Key recent developments in the field of Point-of-Care (PoC) diagnostics: In November 2018, PixCell Medical received FDA 510(k) approval for its point of care the HemoScreen Haematology Analyser, which should enable physicians to make more rapid and accurate decisions.

Factors such as high prevalence of infectious diseases in developing countries, increasing incidence of target diseases, and rising preference for home healthcare across the globe are increasing the adoption of POC diagnostics products globally. Rising investment by multiple public organisations is even a driving factor for the growth of PoC diagnostic market. For instance, in November 2018, the Massachusetts Medical Device Development Center established a M2D2 with the support of USD 7.9 million grant from the National Institute of Health (NIH) which established a new centre to assist inventors pioneering promising new point-of-care devices and technologies for patients with heart, lung, blood and sleep disorders.

For the purpose of the study, this Reports and Data has segmented the Global Point of Care (PoC) Diagnostics Market on the basis of product type, platform type, prescription mode, end user and the regional outlook:                     

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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Globe Newswire: 18:02 GMT Wednesday 12th June 2019

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