Global Portable Diagnostic Device Market Is Anticipated To Witness Significant Growth Due To Increasing Geriatric Population And Rising Prevalence Of Chronic Diseases

Portable Diagnostic Device Market
Portable Diagnostic Device Market


Overview:

A portable diagnostic device is a technology-based device used to perform medical tests on patients. These devices can measure various health parameters and help to diagnose patients by using smart algorithms from a chosen assay. The development of new cutting-edge technologies has permeated the healthcare industry and helped doctors to save countless lives. From 3-D printing to medical mobility, these technological advancements have changed the way physicians carry out their work. These devices will help to make the medical process faster, more efficient, and more cost-effective for both physicians and patients alike. These portable diagnostic readers can be integrated with existing healthcare workflows and deliver fast and accurate results, saving time and effort for the patient and the doctor. There has been an increase in demand owing to growing awareness among patients and healthcare professionals as well as improving infrastructure and enabling minimally invasive procedures.

Market Dynamics:

Growing agreements are estimated to augment the growth of the global portable diagnostic device market over the forecast period. For instance, Biocorp, signing of a partnership agreement with Novo Nordisk, in October 2022. This partnership will be commercializing Mallya in Japan. Moreover, the increasing cost of devices and lack of skilled professionals are anticipated to restrain the growth of the global portable diagnostic device market over the forecast period.

Impact of COVID-19:

The pandemic was first recognized in 2019. It was transmitted in China and later on traveled to other countries. This outbreak had a significant impact on the global economy as many businesses were shut down and trade activities were halted. Several restrictions were imposed in many nations, so as to prevent the transmission of the virus. The pandemic also had a negative impact on the healthcare sector. There was a high demand for medical devices for diagnosing and treating COVID-19 patients. Several doctors were using portable devices for monitoring the patients. This resulted in increasing demand for portable diagnostic devices. Thus, the global portable diagnostic device market witnessed significant growth during the pandemic.

Key Takeaways:

The global portable diagnostic device market is expected to witness high growth, exhibiting a CAGR of 7.4 % over the forecast period, due to increasing product launches. For instance, Venue Fit, a portable and intelligent point-of-care ultrasound solution launched GE Healthcare in March 2021. This new product launch will help in expanding the company’s portfolio.

North America is anticipated to witness significant growth in the global portable diagnostic device market over the forecast period, owing to the growing increasing geriatric population and increasing adoption of portable medical devices.

Major players operating in the global portable diagnostic device market are Nox Medical, General Electric Company, F. Hoffmann-La Roche Ltd, OMRON Corporation, Medtronic, VYAIRE, Koninklijke Philips N.V., and Samsung.

Comments

Post a Comment

Popular posts from this blog

Rising Cancer Cases to boost the Molecular Cytogenetics Market Growth

Image
Molecular Cytogenetics Market Molecular Cytogenetics Market by Products (Kits & Reagents, Instruments, and Software & Services), Technique (Fluorescence in Situ Hybridization, Comparative Genomic Hybridization, Karyotyping, Other Techniques), Application (Cancer, Genetic Disorders, Other Applications), And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030 The global Molecular Cytogenetics Market is estimated to be valued at US$ 4,211.4 million in 2023, and is expected to exhibit a CAGR of 24.5 % over the forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Clinical cytogenetics is the examination of the relation between chromosomal alterations and genetic disorders in human beings. Molecular cytogenetics is an examination of genetic diseases utilizing new techniques and methods that link cytogenetic and molecular t...
Read more

Bispecific Antibodies Are Used As Therapeutic Drugs While Treating Viral Infections, Oncology, And Auto-Immune Diseases

Image
  Bispecific Antibodies Bispecific antibodies are produced through cell fusion or recombinant DNA technologies. Bispecific antibodies are much more specific than monoclonal antibodies. Their applications in tumor immunotherapy are nearly limitless. As of today, seven bispecific antibodies have been approved by the FDA and EMA and over one hundred are in preclinical testing. Bispecific antibodies were initially developed using the quadroma technology. They contain two distinct antigen-binding arms, which enable them to bind to the target antigen while also activating an effector cell, which kills tumor cells. The primary antigen on the surface of the effector cell is called CD3, which is a popular target of immune cells. According to Coherent Market insights the Bispecific Antibodies Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. Many of these multi specific antibody formats have been developed over the past 30 years. These categories ...
Read more

Organic Milk Has Much Higher Concentration Of Iron, Vitamin E, And Polyunsaturated Fatty Acids Omega-3 And Omega-6 As Compared To Regular Milk

Image
  Organic Milk Organic Milk is milk made from livestock raised using organic farming practices. The use of the term "organic" is regulated by food authorities in most jurisdictions. Organic cows are not allowed to be given hormones, which stimulate milk production. Organic feed also must be grown without the use of synthetic pesticides. Organic cows must get a certain percentage of their diet from grazing, although most organic dairies supplement the grass with grain. However, organic grazing cows produce less milk than cows that eat a grain-based diet. Buying organic milk may be a better investment for your health. According to Coherent Market Insights the Organic Milk Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. The standards for organic milk are stringent. To meet the organic standard, a dairy farm cannot use any form of animal growth hormones or antibiotics. Organic cows must spend at least 30% of their lives on pasture. C...
Read more