Point of care diagnostics market to record over 10.65% CAGR until 2027

A key trend fueling the market growth is the shift to rapid diagnostics for faster detection.

The global market for point of care (POC) diagnostics is projected to grow by $14.65b at a compound annual growth rate (CAGR) of more than 10.65% until 2027.

The report by Technavio revealed that the market’s growth was driven by the advancements in mobile diagnostic devices and genetic disorder testing.

Meanwhile, a key trend fueling the market growth is the shift to rapid diagnostics for faster detection, aiding primary and emergency medical screening.

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In line with this trend, rapid diagnostic tests (RDTs) have been adopted in various markets for elimination strategies involving Malaria.

The report also mentioned that the market is experiencing notable growth across segments such as obesity, diabetes, cancer, cardiovascular diseases, and neurological disorders

Moreover, the market sees an increasing demand for diagnostics devices for breast and ovarian cancers, infectious diseases such as HIV, influenza, and tuberculosis, and ageing-related conditions.