According to Vision Research Reports, the global Point Of Care Diagnostics & Testing market size is expected to be worth around US$ 36.70 billion by 2030.
According to Vision Research Reports, the global Point Of Care Diagnostics & Testing market size is expected to be worth around US$ 36.70 billion by 2030.
The global Point of Care Diagnostics & Testing market size was valued at US$ 28.01 billion in 2020 and is anticipated to grow at a CAGR of 3.33% during forecast period 2021 to 2030.
Report Highlights
- The infectious diseases segment held the largest revenue share of over 20.07% in 2021.
- The glucose testing segment captured the second-largest revenue share in 2021.
- The growing prevalence of diabetes and the introduction of portable diagnostic equipment are expected to boost the segment growth from 2022 to 2030.
- The cardiac markers segment is expected to witness significant growth during the forecast period.
- The clinics segment accounted for the largest revenue share of over 35.02% in 2021. Pharmacy and retail clinics are the major contributors to the revenue generated by this segment.
- The home end-use segment is expected to register the fastest growth rate of 7.56% from 2022 to 2030.
- North America held the largest revenue share of over 40.0% in 2021. The region will maintain its dominant position throughout the forecast years.
- The Asia Pacific is estimated to be the fastest-growing regional market from 2022 to 2030.
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Growth Factors
Point of care (POC) diagnostics & testing has significantly altered the therapeutic models applied for the treatment of diabetic patients, HIV patients, and patients with Cardiovascular Disorders (CVDs), in recent years. In addition, emerging advancements on the horizon are projected to enhance the near-patient treatment workflows for infectious diseases, strokes, and cancer.
The industry is set to witness lucrative growth as POC testing serves as a profitable alternative to traditional laboratory tests. Point-of-care devices are designed to offer actionable information at the location and time of patient care, which enables early diagnosis of diseases. The advent of non-invasive & minimally invasive POC devices, continuous POCT, miniaturized technologies, and the adoption of telemedicine in remote patient monitoring are some of the key trends contributing to the market growth.
Moreover, the advent of rapid data sharing solutions as well as platforms is set to contribute to the development of POC COVID-19 tests, supplementing the overall market growth. Companies actively working toward the development of such rapid data sharing solutions include Foundation for Innovative New Diagnostics (FIND) and 360 Dx. The rising number of such companies is set to offer manufacturers/developers and professionals a clear perspective with respect to the future opportunities associated with POC COVID-19 tests.
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Product Insights
The infectious diseases segment held the largest revenue share of over 20.07% in 2021. Infectious disease testing has shifted from centralized to decentralized POC testing, resulting in better patient care. The market is being driven by increased demand for quick tests, which has prompted industry players to deliver POC solutions to decentralized regions. For instance, Abbott has introduced ID NOW, the world's quickest molecular POC test, which provides COVID-19 findings in 13 minutes and is usable in a variety of decentralized healthcare settings such as doctors' offices and urgent care clinics.
The glucose testing segment captured the second-largest revenue share in 2021. The high prevalence of diabetes, coupled with the requirement of constant monitoring of blood sugar levels, is contributing to the segment growth. According to statistics published by the International Diabetes Federation, the global prevalence of diabetes will increase from 382 million in 2013 to 592 million in 2035.
The growing prevalence of diabetes and the introduction of portable diagnostic equipment are expected to boost the segment growth from 2022 to 2030. For instance, in March 2022, research on the assessment of glucose levels in hospitalized patients with community-acquired pneumonia required recording everyday glucose data from February to June 2021. The researchers employed POC capillary blood glucose testing for monitoring the glucose in patients.
The cardiac markers segment is expected to witness significant growth during the forecast period. Annually, millions of patients report to the emergency room with symptoms of a heart attack. Approximately, 31% of all deaths are due to cardiovascular disease. Players are assessing the upcoming demand and initiating product development strategies accordingly. For instance, in April 2021, Siemens Healthineers obtained CE marking for AtellicaVTLi Patient-Side Immunoassay Analyzer. It is one of the first technologies in the industry that aims to enhance the patient care paradigm and offers hs-cTnI results that assist in the diagnosis and treatment of heart attacks.
High accuracy rates associated with these markers and the growing prevalence of target diseases are some primary drivers of this segment. Moreover, the segment is expected to witness a rapid rise in the penetration rates in the developed markets of North America and Europe. The growing geriatric population and the prevalence of disease-inducing lifestyle habits in these countries are expected to fuel market growth over the forecast years.
End-use Insights
The clinics segment accounted for the largest revenue share of over 35.02% in 2021. Pharmacy and retail clinics are the major contributors to the revenue generated by this segment. Growing access to novel diagnostic technologies, improving healthcare coverage, and affordability are the key factors that are expanding the applications of POC diagnostics.
Thus, community pharmacies and retail clinics have emerged as potential medical setups that perform such lab tests, especially regarding cholesterol and glycosylated hemoglobin (A1C) testing. Improved healthcare accessibility for the older population, increased prevalence of communicable diseases, and growing strain on traditional clinics are key factors contributing to global market growth.
As the adoption of POCT increases in the hospitals, regulatory bodies have toughened the validation/verification setting for POC devices. For instance, in January 2022, the article published in Clinical Laboratory News stated that the employment of hospital POC glucose meters needs to be verified and validated by the institutions. For on-label POCT devices, a formal validation is not required, however, needs to verify the precision, accuracy, and analytical measurement range, among other core parameters defined under CLIA.
The home end-use segment is expected to register the fastest growth rate of 7.56% from 2022 to 2030. Home care is a lucrative segment owing to the cost-effectiveness and comfort level of POCT provided to patients at home. POC in the home healthcare sector also empowers patients to address healthcare challenges at home and take decisions instantly. As the emphasis of healthcare is shifting toward early detection and prevention of diseases, the POC diagnostics-based home healthcare market is expected to witness lucrative growth during the forecast period.
Regional Insights
North America held the largest revenue share of over 40.0% in 2021. The region will maintain its dominant position throughout the forecast years on account of the rapidly increasing COVID-19 cases along with the presence of key players in the U.S. and Canada. For instance, in March 2022, Canada-based Company, bioLytical Laboratories Inc. received CE marking for the iStatis COVID-19 Antigen Home Test. This will enable the company to enter the European market.
The Asia Pacific is estimated to be the fastest-growing regional market from 2022 to 2030. The point-of-care market in the Asia Pacific is expected to be driven by a rising pool of local diagnostic kits and reagents manufacturers in this region to offer a wide range of testing solutions for the diagnosis of coronavirus infection. The countries are constantly ramping up their capacities to boost COVID-19 testing. For instance, in April 2020, the Ministry of Health of Malaysia approved the usage of antigen rapid testing kits exported from South Korea to increase the country’s COVID-19 testing to reach the capacity of 16,500 tests per day.
Key Players
- F. Hoffmann-La Roche Ltd.
- Qiagen
- Danaher Corp.
- Becton Dickinson (BD)
- Biomerieux SA
- Abbott Laboratories
- Siemens Healthcare AG
- Zoetis, Inc.
- Instrumentation Laboratory
- Nova Biomedical
- Trividia Health, Inc.
- Quidel Corp.
- Trinity Biotech
- Sekisui Diagnostics
- Orasure Technologies, Inc.
- Nipro Corp.
- Spectral Medical, Inc
Market Segmentation
- Product Outlook
- Glucose Testing
- Hb1Ac Testing
- Coagulation
- Fertility
- Infectious Diseases
- HIV POC
- Clostridium Difficile POC
- HBV POC
- Pneumonia or Streptococcus Associated Infections
- Respiratory Syncytial Virus (RSV) POC
- HPV POC
- Influenza/Flu POC
- HCV POC
- MRSA POC
- TB and Drug-Resistant TB POC
- HSV POC
- COVID-19
- Other Infectious Diseases
- Cardiac Markers
- Thyroid Stimulating Hormone
- Hematology
- Primary Care Systems
- Decentralized Clinical Chemistry
- Feces
- Lipid Testing
- Cancer Marker
- Blood Gas/Electrolytes
- Ambulatory Chemistry
- Drug Abuse Testing
- Urinalysis
- End-use Outlook
- Clinics
- Pharmacy & Retail Clinics
- Physician Office
- Urgent Care Clinic
- Non-practice Clinics
- Hospitals
- Home
- Assisted Living Healthcare Facilities
- Laboratory
- Clinics
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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