The global point-of-care (PoC) diagnostics market has been witnessing rapid growth. The market is fueled rising patient preference for these tests and by technological advancements. Device manufacturers have been making continuous progress in terms of research and development to come up with newer and more advanced products and technologies. The point-of-care diagnostics market is gaining a significant boost from the growing prevalence of infectious diseases, particularly in developing countries such as India, China, South Africa, and Brazil. This is likely to create immense opportunities for players in the market. The growing demand for home-based and portable point-of-care devices that are faster, more advanced, and easy to use is also propelling the global market.
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Increased Cases of Chronic Diseases to Support Market Demand for Point-of-care Diagnostics
The increasing rate of several chronic and interminable ailments and lifestyle-related illness such as diabetes and hypertension, and the rising predominance of different tumors and cardiovascular diseases (CVD) in different developed and developing nations are key factors driving the market. An increased number of geriatric population in these regions require fast testing of various illness at home settings and this is strengthening the demand for point-of-care systems. Moreover, the increased adoption of this type of testing to supplement a compressive checking of sicknesses is boosting the market.
The escalating demand for diagnostic units for better maternity wellbeing in various developing economies is likewise supporting the demand for point-of-care testing, globally. Moreover, the squeezing requirement for point-of-care testing modules for the location of tumor biomarkers is accelerating the development of the market.
Inclination Towards Lab Testing Facilities to Hamper Overall Market Development
The danger of misdiagnosis in point-of-care testing in the absence of reliable screening procedures for numerous ailments and the need to get precise outcomes have led to the popularity of lab testing facilities in different regions. This is one factor hampering the interest for point-of-care testing to a certain degree.
Serving to offset the drawback is the emergence of lateral flow assay to enable clinicians to analyze an extensive variety of biological samples by testing various parameters just in one strip. This is highlighting the development of the market over the forecast period. For example, the use of point-of-care testing for a minimally invasive technique of different tumor biomarkers is an appreciated innovation helping the development of the market.