- Dec. 13, 2019
-- Global Point-of-Care Testing Market (POCT) was valued at US$ 20.42 billion in 2018 and is anticipated to reach US$ 29.27 billion by 2025 displaying a reasonable CAGR of 5.33% over the forecast period (2019-2025). With emerging technological advancements in healthcare, including lab-on-a-chip, smartphone apps, biosensors, and wearable devices that offer a closer connection to the patient point-of-care (POC) technologies are swiftly becoming part of the transformation of the healthcare landscape. The guiding concept in support of Point-of-Care Testing (POCT) is to bring testing closer to the patient. POCT offers more flexibility to meet a diverse range of medical needs because small, portable POCT devices make testing possible in remote locations, such as underserved populations, rural areas, and locations with limited infrastructure or personnel such as disaster, accident, or military sites. The market of POCT is anticipated to grow enormously owing to factors such as rising old age population and age-related diseases, technological advancements. Moreover, the development of condition-specific markers and tests and the growing significance of Companion Diagnostic will further boost this market. The growing significance of companion diagnostics and investing in unifying technology will further boom the industry and will mark as an upcoming trend. However, stringent government regulations, unfavorable reimbursement policies for POCT and risk of errors would act as the major challenges, but at a low level.
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