Published Date: 2019-06-19 | Pages: Ongoing | Tables: Ongoing | Report ID: 7274
Industry: Life Science
The global point-of-care (PoC) platform and technology market is expected to rise at a decent growth rate during the forecast period 2019-2025. The growing prevalence of chronic diseases such as diabetes and cancer is anticipated to increase the demand for PoC platform and technology in the coming years. The convenience that PoC platform and technology provide to patients and healthcare professionals with fast monitoring tests and quick diagnosis is foreseen to further augment the demand in the global market.
Increasing research and development in the healthcare diagnostics domain is predicted to create opportunities in the global PoC platform and technology market. In May 2019, Mologic Ltd., a UK-based developer of PoC diagnostic devices, achieved breakthrough in the PoC diagnostics field as it announced the development of a next-gen ultra-sensitive lateral flow-based technology platform.
Adoption of PoC Platform and Technology to Increase for Efficient Monitoring of Heart Failure
● The need for faster and more accurate clinical management, quicker healthcare results, and improved healthcare delivery is prophesied to push the demand for PoC platform and technology.
● Various advantages associated with the use of PoC platform and technology such as efficient monitoring of heart failure, inflammation risks, and heart rate are expected to increase the adoption of PoC platform and technology.
● The more feasible, hassle-free working of PoC testing devices with reduced size makes them ideal for use in emergency situations and ambulance services. Thus, the benefits of portability and low requirement of technical expertise to operate PoC testing devices are anticipated to augur well for the global PoC platform and technology market.
Biosensors Segment is Anticipated to Take Lead in Global Market
Biosensors are considered to be highly effective in the fast and sensitive detection of target analytes. This is very important when it comes to medical diagnosis of diseases and helping patients with cost-effective options. Among technology segments, biosensors are projected to account for a significant share of the global PoC platform and technology market. Among applications, diagnostic and monitoring are forecast to secure a substantial share of the global market.
● Lateral Flow Based Assays
● Enzyme Labels
● Quality Testing
● Diagnostic and Monitoring
● Drug Development
Rising Prevalence of Lifestyle Diseases to Increase Demand in North America
Regionally, North America is prognosticated to rank higher in the global PoC platform and technology market in terms of growth. Some of the factors expected to support the market growth of North America are the rising number of healthcare-related government initiatives, increasing incidence of lifestyle diseases, and growing number of product approvals.
Players to Focus on Capacity Expansion to Achieve Growth
With a view to improve their market penetration and attain robust growth in the global PoC platform and technology market, players are foretold to make strong investments in capacity expansion and adopt innovative business strategies. Companies are also expected to launch new PoC tests to attract growth in the global market. In May 2019, Binx Health, a US-based provider of at-home, near-patient STI and other testing solutions, received CE mark for a gonorrhea and chlamydia test running on its Binx io PoC platform.
The global PoC platform and technology market marks the presence of leading companies such as Advanced Liquid Logic, Inc., LifeScan, Inc., Agilent Technologies, Siemens Healthineers, Axxicon Moulds Eindhoven B.V., Abbott Laboratories, and LifeSensors, Inc.
System of Methods Used to Compile the Research Study
The statistical model that QY Research uses helps its researchers to estimate critical market figures such as market size and market share. Some of the parameters included in the statistical model are technology, socio-political, environmental, macroeconomic, and microeconomic indicators. All the information and data presented in this research study were carefully verified and processed using advanced data processing and analytics tools.
The primary research was conducted with the help of key participants in the industry value chain, end users, distributors, system integrators, manufacturers, and raw material suppliers. The analysts also referred to annual company reports, government and healthcare agency databases, popular healthcare business websites, and other secondary sources to prepare the report on the global PoC platform and technology market.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Life sciences is a wide branch of study that is gradually becoming an integral industry to the global economics. QYR Consulting looks at the steady transformation of the life sciences industry and its impact on the subindustries such as medical care, pharmaceutical, and medical devices. Our team of esteemed analysts have put together reports to analyze the monumental changes life sciences is expected to bring in the overall healthcare industry. These reports identify the exact turning points for the industry and open up a platform for discussing its growth.
QYR Consulting brings to you a structured analysis of the technological advancements so far, vision of the players in the industry, and the strategies they are likely to use to make their mark. The reports dissect various components of the life sciences industry to scrutinize the influential factors. To help the readers make profitable business decisions, analysts have highlighted the lucrative investment areas and upcoming business opportunities.
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