Key players in the point-of-care diagnostic devices and equipment market include Abbott, F. Hoffmann-La Roche, Siemens Healthineers, Danaher, Beckman Coulter, Becton Dickinson and Company, QIAGEN NV, Johnson & Johnson, Alere Inc and BioMérieux.
New York, May 16, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Point-of-Care Diagnostics Devices And Equipment Global Market Report 2022” – https://www.reportlinker.com/p06277179/?utm_source =GNW
The global point-of-care diagnostic devices and equipment market is expected to grow from USD 24.44 billion in 2021 to USD 28.74 billion in 2022 at a compound annual growth rate (CAGR) of 17.6%. The market is expected to reach $51.73 billion in 2026 at a compound annual growth rate (CAGR) of 15.8%.
The point-of-care diagnostic devices and equipment market includes sales of point-of-care (POC) diagnostic devices and equipment and related services. Point-of-care diagnostic devices and equipment are designed to help physicians perform medical diagnostic tests at or near the point-of-care for immediate knowledge of diseases or conditions.
The main types of point-of-care diagnostic devices and equipment are infectious disease test kits, cardiometabolic monitoring kits, cholesterol test kits, pregnancy and fertility test kits, markers tumour/cancer, urinalysis test kits, hematology test kits, drug tests. kits, faecal occult test kits and the like. Pregnancy and fertility test kits in point-of-care diagnostic devices are the devices used to test pregnancy and fertility in advance before going to the doctor.
The different modes of prescription include prescription-based test devices and over-the-counter (OTC) test devices. These are used by end users such as professional diagnostic centers, hospitals/critical care centers, ambulatory care facilities, outpatient care facilities, research laboratories and homes.
North America was the largest region in the point-of-care diagnostic devices and equipment market in 2021. Asia-Pacific was the second largest region in the point-of-care diagnostic devices and equipment market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in the incidence of target diseases is driving the global POC devices and equipment market. the POC device and equipment market.
For example, according to the Centers for Disease Control and Prevention, 2019, heart disease is also the leading cause of death in the United States, causing approximately 647,000 deaths per year.
The POC diagnostic devices and equipment market is expected to slow due to stringent regulatory policies, which increase the gestation period before the product enters the market. Manufacturers of POC devices and equipment are required to obtain several FDA clearances before launching their product on the market.
The whole approval process takes a long time, thus hampering the growth of the market.
Over-the-counter (OTC) testing is considered an important trend driving the growth of the point-of-care diagnostics market. FDA approved OTC test kits for cholesterol, fecal occult blood, pregnancy, and HIV/HCV.
This method would improve access to testing and early detection of the disease. These test kits may generate more revenue than prescription tests over the forecast period due to the ease of use of the kits, increased home care and self-testing, and a increased availability and adoption rate.
Point-of-care devices are regulated by the United States Food and Drug Administration (FDA) and all laboratory diagnostic tests are regulated by the Clinical Laboratory Improvement Amendments of 1988 (CLIA) which are administered by the Centers for Medicare & Medicaid Services (CMS). As these devices measure biomarker levels in the body, they are classified as Class II (requiring 510[k] approval), or III devices (requiring the most tedious pre-market approval). On the contrary, in the face of strict FDA approvals, China has a moderately lenient approval mechanism. Therefore, top companies use a partnership approach with local suppliers and distributors to expand their market share.
The countries covered in the point-of-care diagnostic devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06277179/?utm_source=GNW
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