Latin America Point of Care Diagnostics Market Worth $203 Million by 2027

New York, NY 13 May 2021: The global Point of Care (PoC) diagnostics market is expected to reach US$ 24.70 billion by 2028, according to a new study by Polaris Market Research.

The report “Point of Care (PoC) Diagnostics Market Share, Size, Trends, Industry Analysis Report, By Platform (Lateral Flow Assays, Dipsticks, Microfluidics, Molecular Diagnostics, Immunoassays); By End-Use (Clinics, Hospitals, Home, Assisted Living Healthcare Facilities, Laboratory); By Product; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global Point of Care (PoC) diagnostics market is driven by continuous technological advancement in the form of miniaturization of devices, growing preference of patients towards home care, and consistent decline in prices due to inflow of innovative market players.

The growing prevalence of target diseases such as cancer, diabetes, cardiovascular diseases and infectious diseases is expected to drive Point of Care (PoC) diagnostics industry.

Cardiovascular diseases are one of the most fatal disorders and are the leading cause of death across the globe.

Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/point-of-care-poc-diagnostics-market/request-for-sample Segment HighlightsGlucose testing segment accounted for the largest revenue share in 2020.

The global point-of-care molecular diagnostics market size is anticipated to reach USD 3.86 billion by 2024 expanding at a CAGR of 14.4%, according to a new report by Grand View Research, Inc.

Ongoing research & development to miniaturize molecular diagnostics testing that provides enhanced near patient testing with high accuracy and lesser turnaround times are major factors expected to reinforce the high growth potential for POC MDx products.Growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period.

Ongoing research and development is continually supported and funded by a number of major international entities including the governments of developed countries.Furthermore, a growing portfolio of point-of-care testing capabilities that, had initially been focused on screening, testing, and diagnosis of infectious diseases in low-income developing countries, has been developing at a rapid pace over the past decade to expand its potential market to a broader range of medical faculties.

Consequently, POC and molecular diagnosis tests are available and/or are under development for cardiology monitoring, oncology testing, and hematology testing.Recent advances in the development of microfluidics and genetic sequencing instrumentation pave the way for development of cost-effective, highly accurate and rapid testing platforms, which are able to be used as true POC systems.

This is a key factor that significantly contributes towards the favorably funded, high growth potential environment prevalent in the PoC molecular diagnostics market.Further key findings from the study suggest:Application of POC MDx tests for infectious diseases accounted for over 45% of market revenue in 2018 due to the presence of many major market entities with an extensive product portfolioGrowing burden of infectious diseases in both developing and developed countries is another factor responsible for the dominance of this segmentPCR-based POC tests is the largest revenue generating segment of the market in 2018.

Widespread usage of PCR-based techniques for molecular diagnosis and commercialization of POC real time PCR products have provided ample opportunities for segment growthNorth America was the largest region and accounted for 43.5% of the global revenue share due to the presence of technologically advanced medical framework, high R investments by governments and private organizations for the development of POC MDx testsKey companies in the market include Johnson & Johnson; Danaher Corp.; Cepheid, Inc.; Bio-Rad Laboratories, Inc.; bioMerieux; Becton, Dickinson and Company; F. Hoffmann-La Roche AG; Bayer HealthCare Pharmaceuticals LLC ; Alere, Inc.; (Abbott), and Abbott Laboratories 

The global Primary Care POC Diagnostics Market size was estimated at USD 6.3 billion in 2016 and it will record the CAGR of 3.5%, for the duration of the prediction.

Accordingly, the market for primary care POC diagnostics is expected to get a most important enhancement.The division of the global Primary Care POC Diagnostics market on the source of Type of End Use could span Physician Office, Pharmacy & Retail Clinics.

These checks, held by the proficiency of doctors in speedily measuring the condition and creating essential medicinal judgments, provide better-quality clinical results.Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/primary-care-poc-diagnostics-market/request-samplePoint-of-Care Testing [POCT] likewise helps in execution of composite examinations by means of small sample sizes equated to those completed in laboratories.

Therefore, issues for example customer demand for relaxed, stress-free, and less timewasting examinations are expected to increase the market for primary care POC diagnostics in the office of the physician.

Continuing investigation readings and provision from finance organizations is likewise estimated to increase the subdivision above the progression of the prediction period.The division of the Primary Care POC Diagnostics market on the source of Area divides global market into a number of important Areas.

The area wise division of the global market spans North America, Europe, Asia Pacific, Latin America and Middle East and Africa.By the source of geography, North America seized the biggest stake in 2016 due to a large number of primary care locations in the U.S.