PUBLISHER: Grand View Research | PRODUCT CODE: 1553581
PUBLISHER: Grand View Research | PRODUCT CODE: 1553581
The global point of care infectious disease testing market size is expected to reach USD 15.76 billion by 2030, registering a CAGR of 4.3%, according to a new report by Grand View Research, Inc. The emerging trend of patient-centric services coupled with escalating incidence rates of complicated infectious disorders is expected to upsurge the demand for portable and accurate detection devices, thus resulting in market growth. The potential in these devices to enable rapid detection of infectious diseases is attributive for the estimated market.
Moreover, revolutionizing patient care brought about by these devices is responsible for the rising demand for decentralized testing settings. Rise in the investments for R&D and development of new products is expected to spur progress in point-of-care infectious disease diagnostics market through to 2025.
For instance, development of a new 'lab-on-a-disc' technology developed by an EU project research team aids in the diagnosis of different infectious diseases including malaria. It enables faster diagnosis as a consequence of implementation of point-of-care treatment. This allows precise drugs administration thus influencing adoption rate.