New York – May 26, 2023 - Research Nester’s recent market research analysis on “Diagnostic Cartridge Field Diagnostic System Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global diagnostic cartridge field diagnostic system market in terms of market segmentation by type, end-user, and by region.
Increasing Importance of Point of Care Testing (POCT) to Promote Global Market Share of Diagnostic Cartridge Field Diagnostic System
The global diagnostic cartridge field diagnostic system market is estimated to grow majorly on account of the rising demand for point-of-care testing post-pandemic and amongst patients needing critical care. With the number of people with COVID-19 cases surging daily around the world, point-of-care testing (POCT) is gaining attention as a tool as it can be done rapidly and be performed by clinical personnel who are not trained in clinical laboratory sciences.
Moreover, it enables more rapid, accurate, and timely clinical decision-making in the process of diagnosis, treatment choice, monitoring, and prognosis, as well as operational decision-making and resource utilization. Hence, with the growth in the utilization of POCT, the growth of the diagnostic cartridge field diagnostic system is also anticipated to prosper.
Some of the major growth factors and challenges that are associated with the growth of the global diagnostic cartridge field diagnostic system market are:
Growth Drivers:
· Growing Prevalence of Chronic and Acute Diseases
· Expanding Diagnostic Sector
Challenges:
The immensely slower penetration of the diagnostic cartridge field diagnostic system in developing countries, and the challenge of quality control and result reporting faced by the market due to lack of accuracy owing to test error are some of the major factors anticipated to hamper the global market size of diagnostic cartridge field diagnostic system.
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By type, the global diagnostic cartridge field diagnostic system market is segmented into infectious diseases testing, cardiac markers testing, coagulation testing, electrolytes testing, and others. The cardiac marker testing segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The rise in the number of people suffering from myocardial infarction (MI), commonly known as a heart attack is estimated to propel the segment growth. Cardiac marker tests can predict the symptoms of the condition as they can identify blood chemicals associated with myocardial infarction.
Further, the hospital sub-segment amongst the end-user is garnered a notable share over the forecast period owing to the rapid patient footfall in hospitals and the increasing demand for handheld/ portable diagnostics devices that are preferred to perform a test at a patient’s bedside.
By region, the Asia Pacific diagnostic cartridge field diagnostic system market is to generate the highest revenue by the end of 2035. The flourishing medical tourism industry in countries like India together with the surge in collaborations of corporates and multi-national companies for the upliftment of the diagnostic market is anticipated to pool investment in the diagnostic cartridge field diagnostic system market.
The North American diagnostic cartridge field diagnostic system market is anticipated to register the highest shareholding owing to the rapid adoption of advanced medical technology in the region especially in the healthcare sector.
Finally, the market in Europe is projected to hold a majority of the share by the end of 2035 owing to the widespread of chronic lifestyle diseases such as diabetes amongst the aging population.
This report also provides the existing competitive scenario of some of the key players of the global diagnostic cartridge field diagnostic system market which includes company profiling of Siemens Healthineers AG, F. Hoffmann-La Roche AG, Danaher Corporation, Bio-Rad Laboratories, Inc., Sysmex Corporation, Arkray Inc., Becton, Dickinson and Company, Binx Health Limited, Nova Biomedical Corporation, Abbott Laboratories, and others.
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