POC PLATFORM AND TECHNOLOGY MARKET ANALYSIS

Poc Platform And Technology MarketSize and Trends

The global POC Platform and Technology Market is estimated to be valued at US$ 31,841 million in 2021 and is expected to exhibit a CAGR of 8.9% over the forecast period (2021-2028).

Figure 1. Global POC Platform and Technology Market Share (%), By Application, 2021

The increasing focus on partnerships and collaborations by key players in order to strengthen their market presence in the global market is expected to drive growth of the global POC Platform and Technology Market over the forecast period.

Figure 2. Global POC Platform and Technology Market Share (%), By Region, 2021

The increasing acquisitions, mergers to promote research and development activities for the development of PCOT platform and technologies is expected to drive the market growth over the forecast period.

The increasing product launches and approvals are expected to drive the market growth over the forecast period.

Global POC Platform and Technology Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdown in various countries across the globe has negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions.

The COVID-19 pandemic has boosted the POC market due to the increasing focus on making next-generation devices for virus detection. Standard RT-PCR procedures are time consuming as well as highly dependent on well-trained staff, equipped laboratories, and expensive equipment. POC devices accelerated the market a few months after the first COVID-19 RT-PCR tests entered into the market in order to address the issues associated with standard RT-PCR procedures approach. The demand for POC devices has raised due to pandemic and manufacturing companies are competing to develop advanced POC platforms more reliable, rapid, and easier.