North America Point of Care Testing Market Size Analysis:
As per the recent report published by research cosmos, the North America Point of care testing market is valued at the USD XX Billion in 2018 and it is expected to register a CAGR of 3 % to reach 8 Billion USD during the forecast period 2008 to 2025
Growth Opportunities, Challenges and Restraints of North America Point of Care Testing Market:
Recently, the point of care diagnostic market (PoC) is growing exponentially with the growing preference of patients to perform these tests. Patient management has been improved through the use of electronic medical records (EMR) through the POC (Point of Care) diagnosis. EMR minimizes inconsistencies between work and health data by transferring the results of tests of a POC device to a laboratory or hospital information system.
The other important factor that helps the North American market to grow tremendously is the technological progress that has been growing in the medical field over the years. It is expected that the demand for devices will increase due to the continued development of R&D activities to miniaturize molecular and special diagnostic tests. In addition, with the improvement of the technology of automation of laboratory and the introduction of medical solutions profitable and superiors, the regional market is accelerating at a quick pace.
Increase in trends in various infectious diseases and some initiatives carried out by governmental and non-governmental organizations to improve health knowledge augment the market boom. There are important factors that drive the growth of the market around the region. Key technical advances in diagnosis, the introduction of basic essences at home; and the increase in medical costs also supports the growth of the North American point of care market. The application of automated laboratory systems and highly integrated solutions facilitates diagnostic workflows, which facilitates the adoption of these testing products on demand. This equipment is easy to use, especially for the lack of specialized professionals and medical personnel in the field of diagnosis.
However, restrictive government regulations on the approval and reimbursement of products for point-of-care devices limit the growth of the market. Market players continue to focus on research and development to help market growth through the innovation of new and more efficient devices.
It is hoped that the research and development activities between key people to introduce new tests and POC devices for rapid detection and control of diseases will become an engine of industrial development. In February of 2018, Siemens Healthier received the approval of the FDA (Food and Drug Administration) for the POC tests of TCO2 (Total Dioxide of carbon) and BUN (Blood Urea Nitrogen), reinforcing its market position.
Geographical Insights of North America Point of Care Testing Market
North America has the largest market share in 2018 due to its high awareness with a high penetration of the disease and is expected to remain on the ground in the coming years. In North America, the United States has the largest market share. This can be attributed not only to the increase in the large population of the country but also to factors such as the increase in government regulation and initiatives that favour the development of diseases and the development of health infrastructures. Governments and favourable government initiatives related to the development of health infrastructures also support large stakes in the region. It is expected that numerous product launches and strategic developments of the main American customers dominate the local market. In November 2018, Pixel Medical was approved by the FDA (Food and Drug Administration) in the heart of the HemoScreen Hematology Analyzer. Also, in October of 2017, Abbott Laboratories acquired Alere Inc., that improved the product of tests POC of Abbott.
Some of the promising companies leading the North America Point of Care Testing Market:
- Danaher Corporation
- F. Hoffmann-La Roche Ltd
- Abbott Laboratories
- Instrumentation Laboratory SpA
- BioMerieux SA
- Trividia Health Inc.
- Becton Dickinson & Company
- New Biomedical Sciences
- Sekisui Diagnostics LLC
- I Siemens Healthcare GmbH
- Quidel Corporation
This research report includes following segmentation for the North America Point of Care Testing Market size and forecast 2024
North America Point of Care Testing Market - By Application
- Cholesterol Follow-Up
- Blood Sugar Tests
- Infectious Disease Tests
- Fertility Tests
- Cholesterol Control
- Substance Abuse Tests
North America Point of Care Testing Market - By End User
- Assisted living healthcare facilities
North America Point of Care Testing Market - By Region