Oct 23, 2024
Blog Healthcare Point-of-Care Diagnostics Market and COVID-19: Focus on OTC and At-Home Testing
Imagine being able to diagnose and treat illnesses quickly, accurately, and conveniently, without having to visit a hospital or laboratory. This is the promise of Point-of-Care Diagnostics (POCD), a rapidly growing field that's transforming the way healthcare is delivered. In this blog, we'll explore the technologies driving POCD and its vast global market potential.
The global diagnostic testing industry is a multi-billion-dollar business with strong competition and high-growth areas. The United States is the largest market for diagnostic testing. This study highlights point-of-care (POC) testing, one of the fastest-growing parts of the diagnostic industry.
The global market for Point-of-Care Diagnostics: Technologies and Global Markets was valued $36.9 billion in 2023. It is expected to grow from $40.6 billion in 2024 to $65.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029.
The COVID-19 pandemic had a profound impact on the point-of-care (POC) diagnostics market, driving rapid growth and innovation. Here's how:
The global market for point-of-care diagnostics was valued at $36.9 billion in 2023. It is expected to grow from $40.6 billion in 2024 to $65.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029.
Several cutting-edge technologies are powering the POC diagnostics revolution:
POC diagnostics are transforming healthcare around the world for several reasons:
Point-of-care diagnostics are transforming healthcare by bringing fast and reliable testing to the patient's side. With ongoing technological advancements and a growing global market, POC diagnostics are set to play a pivotal role in the future of medicine. Whether in a bustling city hospital or a remote village clinic, these tools are making healthcare more accessible and effective for everyone.
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Divya Dhamija is a Senior Executive of Marketing Operations at BCC Research, with a master’s degree in business. She specializes in optimizing marketing strategies and content creation and is dedicated to driving organizational growth through strategic marketing initiatives.
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