The global point-of-care (POC) diagnostics market size is expected to reach USD 23.36 billion by 2027, exhibiting a CAGR of 7.3% during the forecast period. The growing acceptance of POC testing kits in the treatment of acute and chronic diseases will spur ruminative opportunities for the global market, states Fortune Business Insights, in a report, titled “Point-of-care (POC) Diagnostics Market Size, Share & COVID-19 Impact Analysis, By Product (Blood Glucose Monitoring, Infectious Diseases, Cardiometabolic) Diseases, Pregnancy & Infertility Testing, Hematology Testing, and Others), By End User (Hospital Bedside, Physicians Office Lab, Urgent Care & Retail Clinics, and Homecare / Self-Testing), and Regional Forecast, 2020-2027. ”The market size stood at USD 18.45 billion in 2019.

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Coronavirus impact
Market Driver:

Introduction of Advanced Testing Kits to Enhance Market Scope

The growing cases of diseases such as diabetes, infectious disease, HIV, and others have urged pharmaceutical companies to introduce innovative testing kits, which, in turn, will enable the growth of the market. For instance, in June 2019, Abbott announced the release This assay is the first of its kind point-of-care test that has been approved by the US FDA for the diagnosis of diabetes. Moreover, in February 2019, DiabetOmics introduced the point-of-care test. Lumella for the accurate diagnosis of preeclampsia in pregnant women. Thus, the continuous and persistent efforts of major companies for the development of advanced POC kits will simultaneously encourage the healthy growth of the market in the forthcoming years.