Los Angeles, CA -- (SBWire) -- 10/06/2021 --Point-on-care testing devices are expected to rise in demand as they provide rapid results, accelerating medical decisions in case of emergency. QY Research has recently published a report titled "Global Point-of-Care Testing (POCT) Devices Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application". According to the report, the global point-of-care testing devices market is expected to reach US$33143 mn by 2026 from US$19344 mn in 2019, registering a CAGR of 7.8% during the forecast period.
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Undemanding Medical Tests to Boost POCT Devices Market
POCT devices are extensively used to provide homecare as it is efficient and quick with results. It is preferred by physicians as it provides expeditious and nearly accurate results that help in immediate decision making and timely medical intervention. Focus on immediate healthcare in rural areas, disaster, accident, and military sites has spiked the demand for POCT devices. In addition, POCT devices reduce the chance inconvenience of laboratory visits, which has tremendously helped homecare in recent years. In many ways, POCT devices such as blood pressure monitoring, pregnancy kits, and blood glucose meters have improved disease management for patients. Furthermore, their availability and affordability are also expected to boost the market in the coming years. All of these factors are expected to boost demand during the forecast period.
Blood Glucose Meter Segment to Augment Owing to Availability of Easy Portable Devices
The blood glucose meter segment is expected to rise in demand during the forecast period as commercialization of portable glucose meters has risen in the past few years. Awareness about the monitoring of glucose level at regular intervals for better lifestyle has significantly boosted the demand for hand held glucose meter in home care settings.
North America to Lead Owing to First Hand Product Launches by Key Players
North America is expected to lead the global market during the forecast period due to favourable government policies and initiatives that boost the development of healthcare infrastructure in this region. Strategic developments and product launches by key players in this region is also expected to trigger the demand.
Abbott Laboratories in October 2017 acquired Alere Inc. This acquisition is expected to strengthen the POC testing offerings.
The key players operating in the global point-of-care testing devices market are Abbott, Roche Diagnostics, Medtronic, Abbott, Johnson & Johnson, Siemens Healthineers, Philips, Abaxis (Zoetis), Samsung Healthcare, and Beckman Coulter.
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Expeditious Testing to Bolster Demand for Point-of-Care Testing Devices in Global Market with CAGR of 7.8% by 2026