Global Care Diagnostics Market to Hit $84.3 Billion by 2030, Growing at 8.7% CAGR

BOSTON - June 3, 2024 - PRLog -- Care Diagnostics refers to the global industry specializing in medical devices for immediate testing and diagnosis of diseases like cancer, diabetes, and heart diseases. This field encompasses pathology and radiology services to assess health conditions and provide appropriate care. It includes various diagnostic procedures and tools, such as blood tests, imaging, and genetic testing, to help healthcare professionals accurately diagnose and manage patient health, enabling timely and effective treatment decisions.

Key Growth Drivers:

Technological Advancements: The integration of advanced technologies such as telehealth-enabled POC testing and innovations in biosensors and microfluidics are enhancing the capabilities and accessibility of diagnostic tools.

Rising Geriatric Population: An aging global population necessitates more frequent and accessible healthcare solutions, boosting the demand for POC diagnostics.

Chronic and Infectious Diseases: The increasing incidence of chronic diseases such as diabetes, cardiovascular disorders, and infectious diseases, including the recent COVID-19 pandemic, has significantly spurred the adoption of POC diagnostic tests.

Healthcare Decentralization: Emerging markets in regions such as Latin America and Africa are witnessing increased healthcare investments and the decentralization of medical services, making POC diagnostics more accessible in these areas.

Geographical Analysis

North America holds the dominant share of the care diagnostics market at present and is expected to continue its dominance during the forecast period.

On the other hand, Asia Pacific is expected to show a steady rise in the care diagnostics market due to the rising cases of chronic diseases such as cancer, heart disease, and diabetes in the region.

Key Players:

The care diagnostics industry comprises various market players such as Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Chembio Diagnostics Systems Inc, Nova Biomedical, QIAGEN N.V., Abaxis, Inc., AccuBioTech Co, Ltd, and Cue Health Inc, among others.

Conclusion

The expansion in the market is fueled by technological advancements, the increasing prevalence of chronic and infectious diseases, and the rising demand for accessible and rapid testing solutions. The market's growth is further supported by healthcare decentralization and substantial investments in emerging markets.

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