POCT Platform & Technology Market, by Technology (Lateral Flow Based Assays (Colloidal Gold Label, Colored Latex Particle Label, Paramagnetic Monodisperse Latexes, and Fluorescence Immunoassay), Enzyme Labels, Microfluidics, Biochips, Biosensors, Medical MEMS, Agglutination, Solid Phase, Lab-on-a-chip, and Chemiluminescence Based Systems), by Application (Diagnostic Testing & Monitoring and Drug Development & Quality Testing), by End User (Hospitals, Clinics, Laboratories, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Report Description
Medical diagnostic testing performed at or near the point of care and at the time and place of patient care is known as point-of-care testing (POCT or bedside testing). POCT (point-of-care testing) is required to offer a quick diagnostic result for on-the spot diagnosis and treatment. The most significant elements for modern POCT diagnostic systems are a short analysis time and high sensitivity, as well as less analytical error. This is in contrast to the historical practice of testing being limited to the medical laboratory, which required sending specimens away from the point of care and then waiting hours or days for findings, during which time care had to be continued without the needed information. Test findings can be shared with health care providers quickly because PCOT devices and electronic medical records are linked. The usage of mobile devices in the health-care sector also allows healthcare providers to provide better care.
Market Dynamics
The technological advancements coupled with increasing expenditure for R&D, increasing incidence of infectious and chronic disease, portability & low requirement of technical expertise, and disease diagnosis with low turnaround time , and increasing adoption of inorganic growth strategies such as mergers, acquisitions, partnerships, and collaborations by key players operating in the market are the major factors that are expected to drive growth of the global POCT platform & technology market over the forecast period.
Increasing cancer and diabetes incidence is also one of the major factors driving demand for point of care diagnostic tools and assays. Monitoring glucose, hemoglobin, ketones and other factors allows prevention, early detection and diabetes-related acute and chronic complications and has a positive impact on the process of care in the management of patients with diabetes.
For instance, according to the statistical estimates provided by the American Cancer Society, there will be 1.9 million new diagnosed cases of cancer and around 608,570 cancer deaths in the U.S in the year 2021.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook