According to FutureWise analysis the market for Disposable Point-Of-Care Testing (POCT) Devices is expected to reach US$ 38.84 billion by 2031 at a CAGR of 6.60%.
A sort of medical diagnostic testing is point-of-care testing, often known as bedside testing. Point-of-care testing equipment are used to obtain diagnostic results that are close to or in the presence of the patient. Disposable POCT devices are those that cannot be used again once they have been used. POCT stands for point of care test, which is a diagnostic test performed using both electronic and non-electronic instruments. It eliminates the need for many laboratory and clinical investigations, reducing test turnaround time. The rise in demand for POCT among patients, increased disposable income, and rapid expansion in medical tourism in Europe are the primary factors driving market growth. The market's expansion is hampered by a lack of understanding about POC tests. Furthermore, increasing technical advancements in the field of POC tests would provide significant market growth possibilities. The rising prevalence of chronic diseases such as diabetes, cancer, and infectious diseases around the world is one of the key factors projected to fuel the growth and demand for disposable point-of-care testing (POCT) equipment. Furthermore, the rising incidence of elderly population around the world, as well as the increased requirement for quick screening for diseases including influenza, dengue, HIV, and malaria, are likely to drive worldwide market growth over the forecast period. The rising prevalence of the condition, as well as the ease with which blood glucose levels may be measured using a glucose monitoring device, are expected to boost market growth. Furthermore, rising public awareness of point-of-care testing devices and increased product approvals are likely to fuel the expansion of the disposable point-of-care testing (POCT) devices market.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Disposable Point-Of-Care Testing (POCT) Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Disposable Point-Of-Care Testing (POCT) Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.