Global POC Platform & Technology Market, by Technology (Lateral Flow Based Assays (Colloidal Gold Label, Colored Latex Particle Label, Paramagnetic Monodisperse Latexes, and Fluorescence Immunoassay), Enzyme Labels, Microfluidics, Biochips, Biosensors, Medical MEMS, Agglutination, Solid Phase, Lab-on-a-chip, and Chemiluminescence Based Systems), by Application (Diagnostic Testing & Monitoring and Drug Development & Quality Testing), by End User (Hospitals, Clinics, Laboratories, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.
For instance, in March 2020, Abbott Laboratories, headquartered in the U.S., received the U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA) for fastest available molecular point-of-care test for the novel coronavirus (COVID-19) detection. It provides rapid results in hospital emergency departments, physician’s offices, and urgent care clinics.
Global POC Platform & Technology Market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 263,563,622 cases and 5,232,562 deaths due to Coronavirus (COVID-19) were reported up till December 03, 2021, across the globe.
The COVID-19 pandemic has negatively affected the financial status of several markets across the globe and is also expected to hamper the demand and supply in global POC platform & technology market, owing to strict lockdown in several regions during the COVID-19 outbreak.
Browse 30 Market Data Tables and 28 Figures spread through 202 Pages and in-depth TOC on “POC Platform & Technology Market”- Global Forecast to 2028, by Technology (Lateral Flow Based Assays (Colloidal Gold Label, Colored Latex Particle Label, Paramagnetic Monodisperse Latexes, and Fluorescence Immunoassay), Enzyme Labels, Microfluidics, Biochips, Biosensors, Medical MEMS, Agglutination, Solid Phase, Lab-on-a-chip, and Chemiluminescence Based Systems), by Application (Diagnostic Testing & Monitoring and Drug Development & Quality Testing), by End User (Hospitals, Clinics, Laboratories, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global POC Platform & Technology Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/poc-platform-and-technology-market-1501
Key players operating in the market are focusing on adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to strengthen their position in the global market.
For instance, in February 2018, BGN Technologies, an Israel based company, collaborated with Biosensorix, a Singapore based medical diagnostic firm, to develop quantitative point-of-care, which helps in detection of infectious diseases such as dengue fever and stroke symptoms.
Key Takeaways of the Global POC Platform & Technology Market:
- The global POC platform & technology market is expected to exhibit a CAGR of 8.9% over the forecast period, owing to rising launches and regulatory approvals of products. For instance, in February, 2018, Mesa Biotech Inc., a molecular diagnostic company, received Clinical Laboratory Improvements Amendments (CLIA) waiver and 510(k) clearance from the U.S. Food and Drug Administration for its Accula Flu A/Flu B test. This is a PCR (polymerase chain reaction) testing platform developed specially for point-of-care (POC) infectious disease diagnosis.
- Among technology, biosensors segment is expected to account for largest market share during the forecast period, owing to rising collaborations among key players. For instance, in 2017, Millar, Inc., a company engaged into advancing medical innovation, collaborated with A. M. Fitzgerald & Associates, LLC. an engineering consultant in Burlingame, California. This collaboration aims to provide complete sensor solutions using micro-electromechanical systems (MEMS) technology as the MEMS sensors have unique capabilities to collect medical data, owing to their small size, low power consumption, and low costs.
- Key players operating in the global POC platform & technology market include Advanced Liquid Logic, Inc., Agilent Technologies, Axxicon Moulds Eindhoven B.V., Lifesensors, Inc., Abbott Laboratories, Seimens Healthineers AG, LifeScan, Inc., Atomo Diagnostics, SenzaGen, Exalenz Biosciences Ltd., Nanomedical Diagnostics, BGN Technologies, Mesa Biotech Inc., and Millar, Inc.
