Critical Care Diagnostics Market is expected to grow at a lucrative rate in the next few years

The global critical care diagnostics market is expected to reach USD 1.29 billion by 2024, according to a new report by Grand View Research, Inc. The critical care diagnostics market is expected to grow at a lucrative rate in the next few years. The key factors supporting the industry’s growth comprise the rapid awareness and acknowledgment of these tests by physicians and patients, the rise in geriatric population and chronic health conditions, the employment of telehealth services in remote areas, and technological advancements. The increased cost of the molecular diagnostics and dearth of skilled labor are factors that are expected to hinder the growth of the industry.

The critical care diagnostics market by test type is categorized into routine and special chemistry, flow cytometry, hematology, immunoproteins, microbial and infectious diseases, coagulation testing, and others. The microbial and infectious diseases test diagnostics segment is projected to grow at the highest rate with a CAGR of over 5% during the forecast period. For example, healthcare systems spend a substantial amount of resources in the collection and processing of blood cultures for the identification of pathogens.

Critical care diagnostic tests, such as the nucleic acid amplification test, allow clinicians to detect and identify organisms more rapidly and accurately and provide guidance to clinicians, who aspire to commence the appropriate antimicrobial therapy as fast as possible and terminate the use of avoidable drugs. The critical care diagnostic market by the end-user is categorized into operation rooms, emergency rooms, and ICU’s. The emergency rooms segment in the industry is anticipated to witness the highest growth rate during the forecast period.

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http://www.grandviewresearch.com/industry-analysis/critical-care-diagnostics-market

Further key findings from the study suggest:

• The Asia Pacific region is estimated to dominate the critical care market in terms of the highest growth rate, with a CAGR of around 9.1% during the forecast period. The large presence of geriatric population, increasing prevalence of chronic diseases, increase in the number of specialty hospitals in the Asia Pacific region, and improving healthcare services and infrastructures in rural areas are the factors fueling the market growth.
• The immunoproteins diagnostic test segment is estimated to account for the largest share of the critical care diagnostic market by type. The rise in demand for rapid and accurate preventive healthcare services is one of the major factors driving this market growth.
• On the basis of end-users, approximately 20% of acute-care patients get admitted into ICU’s, whereas nearly 58% get admitted into emergency rooms. The emergency rooms are expected to witness exponential growth with the highest CAGR during the forecast period. The recent rise in the patient demand for ER services is due to its ability to provide initial acute care diagnosis and treatment of critically ill patients.
• Some major players in this industry include Abbott., Alere, Inc., Beckman-Coulter, Roche Diagnostics, and Becton Dickinson & Co., among others.

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http://www.grandviewresearch.com/press-release/global-critical-care-diagnostics-market