Valtronic Blog Diagnostic Market Growth Brings Value to Medtech Industry

A number of factors such as the rising prevalence of lifestyle and infectious disease, are increasing usage of home-based Point of Care Diagnostics, technological advancements, and decreasing number of technicians in the central labs are driving the growth of the Diagnostics market today. Point of Care (POC) Diagnostics can be broadly defined from infectious disease testing kits, glucose monitoring, cholesterol test strips to cardiac markers and more. The general market is assumed to be valued at $13.8 billion back in 2011 and expected to increase to $16.5 billion this year. As annual growth is forecasted at 3.7 percent, the diagnostic testing business is at its highest growth and in the United States alone is the largest singe market for diagnostic testing in both home use and near-patient applications.