The Global point of care diagnostics market 2029 is projected to grow during the forecast period due to the increasing incidences of infectious and chronic diseases. Fortune Business Insights™ publishes this information in a report titled, Point of Care Diagnostics Market 2029. As per the report, the point of care diagnostics market size was valued at USD 46.65 billion in 2021. The market size is expected to rise from USD 36.37 billion in 2022 to USD 51.94 billion by 2029 at a CAGR of 5.2% during the projected period.
The point of care diagnostics market report provides complete information regarding recent developments and trends in the industry. Also, development strategies adopted by the key market players such as mergers, acquisitions, alliances, and partnerships are highlighted further in this report. Furthermore, drivers and restraints affecting the market growth during the forecast period are discussed further in the report. The impact of COVID-19 pandemic on market development and expansion is elaborated further along with the recent launches introduced by the key market players. A list of prominent market players and regional market information is given further in this report.
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June 2020: Celltrion Group announced the SARS-CoV-2 point-of-care antigen diagnostic kit. This will help expand access to COVID-19 diagnosis management and treatment globally
Drivers & Restraints:Rising Adoption of Decentralized Healthcare Systems To Propel Growth
The market for point of care diagnostics is expected to grow significantly during the forecast period due to increasing incidences of chronic diseases and the rising spread of infectious diseases. Also, the growing inclination towards decentralized health systems is expected to drive the market. Furthermore, key market players’ adoption of recent developments and technological advancements in the industry is projected to fuel the market during the forecast period. These factors are expected to ensure point of care diagnostics market growth in the coming years. However, increasing risks and lack of accuracy in test conduction may hamper the market growth.
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