- The point-of-care testing market is projected to be valued at $81.37 billion by 2028, representing a CAGR of 9.4% over the forecast period (2020-2028)
- Avricore plans to capitalize on this growth through investing in its technology and forging strategic partnerships that bring its services closer to patients
- For the 2021 calendar year, Avricore partnered with Shoppers Drug Mart pharmacy to pilot its HealthTab(TM) platform in specific locations
- Having capitalized and executed several critical agreements for 2021, the company is confident that it is well-positioned for growth in 2022
Avricore Health (TSX.V: AVCR) (OTCQB: AVCRF), a pharmacy service innovator, has remained focused on acquiring and developing early-stage tech, intending to move pharmacy forward. Its flagship offering, HealthTab(TM), seeks to offer turnkey point-of-care testing solutions, so far covering key ailments such as diabetes, cardiovascular conditions, and Covid-19.
Avricore’s goal is to reach as many people as possible, and one way it is planning to achieve this is by partnering with community pharmacies. By equipping these drugstores with their state-of-the-art Afnion 2(TM) analyzers provided by Abbott Rapid Diagnostics, patients can get results in less than 10 minutes. This allows them to spend more time improving their health and less time waiting around for test results, as was previously the case.
So far, in the 2021 calendar year, Avricore has partnered with Shoppers Drug Mart pharmacies to pilot the HealthTab platform in specific locations (https://ibn.fm/URWOG). The success of their partnership has shown the platform’s potential and the value that it brings, not just to patients but also to the company. As Avricore works towards being the world’s largest health diagnostics solutions provider, strategic partnerships with community pharmacies have proven to be integral to achieving this goal.
It is projected that by 2028, the global point-of-care testing (“POCT”) market will be valued at $81.37 billion, up from $34.49 billion in 2020. This will represent a compound annual growth rate (“CAGR”) of 9.4%, primarily driven by the increased demand for screening and management tools for chronic diseases, coupled with the rapid assessment of infectious diseases such as Covid-19 (https://ibn.fm/kjJ8G).
Avricore recognizes this opportunity, hence its investment in its technology and forging strategic partnerships that bring it even closer to patients, including those in rural areas. Going into 2022, the company is confident that it will realize strong growth given its milestones over the 2021 calendar year.
“We’ve had our best year yet, despite many external factors that created headwinds, and we’re extremely excited to head into 2022,” noted Hector Bremner, the Chief Executive Officer (“CEO”) of Avricore.
“Given that we are well capitalized and have executed several key agreements already, we’re well positioned for growth,” he added (https://ibn.fm/3mYf7).
Avricore promises to help patients and create value for its shareholders, one community pharmacy at a time, a critical factor that will contribute to its growth for the 2022 calendar year.
For more information, visit the company’s website at www.AvricoreHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to AVCRF are available in the company’s newsroom at https://ibn.fm/AVCRF
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