Latest Study on “Point Of Care Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
Latest Study on “Point Of Care Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
The global Point Of Care Diagnostics market size is expected to be worth around US$ 68.60 billion by 2030, according to a new report by Nova one advisor.
The global Point Of Care Diagnostics market size was valued at US$ 37.06 billion in 2021 and is anticipated to grow at a CAGR of 6.9% during forecast period 2022 to 2030.
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Key Takeaways:
- By Product, the Canada Point Of Care Diagnostics market was valued at USD 2.6 Billion in 2021 and expected to witness growth at a CAGR of 7.9% from 2022 to 2030.
- The glucose testing product segment held 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
- The home end-use segment is expected to grow lucratively over the forecast period attributed to significant traction of at-home or self-testing for COVID-19. POCT devices are easy to use and do not, mandatorily, require any modern lab infrastructure for testing simpler target analytes in a patient’s sample
- North America dominated the global market in 2021 owing to the increasing demand for new technologies, a large pool of key players, and advanced healthcare infrastructure
- The Asia Pacific is expected to grow considerably in the future owing to the rising prevalence of cancer, diabetes, cardiovascular diseases, and infectious diseases. The increasing population with limited disposable income is the potential target market for the key players in the region
Report Scope of the Point Of Care Diagnostics Market
| Report Coverage | Details |
| Market Size | US$ 68.60 Billion by 2030 |
| Growth Rate | CAGR of 6.9% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, end-use and Region, |
The introduction of advanced technologies such as Telehealth enabled POCT is expected to fuel market growth. Furthermore, the rise in the geriatric population and their need for accessible home-based care are anticipated to drive the market.
The adoption of POCT in emerging economies such as Africa and Latin America is anticipated to be a growth determinant of the global POCT market. The authorities are decentralizing the healthcare system and increasing their investments. For instance, the African regulations in Kenya allotted USD 346.7 to Managed Equipment Services project for the government’s initiative toward modernizing facilities by procuring new equipment. The Ministry of Health selected GE Health and Philips to offer equipment across 47 countries. Similarly, Latin America decentralized IVD testing, which encourages private players to take strategic initiatives to meet the region’s existing demand for affordable POCT, especially in the infectious diseases segment.
Currently developed POC devices and tests are employed across different medical diagnostic applications, including cancer, pregnancy, and infectious diseases. Patients and physicians employ POC tests to screen conditions, confirm diagnoses, and design suitable therapeutic approaches based on patient health. However, the enthusiasm displayed by different consumers, such as doctors, patients, and caregivers, varies widely. This dynamic consumption pattern of POC diagnostic products is also attributed to economic scalability, financial interests, and lack of a universal healthcare structure.
In the light of COVID-19, the lockdown imposed across the globe has necessitated virtual visits and rapid diagnostic tests that assist patients to avoid hospital visits. Post-lockdown, the eHealth strategy is the emerging area of priority and investment such as an automated patient appointment system, lab result transmission system, healthcare workers’ communication system, and medical products procurement system for the companies and governments. It is anticipated to continue to prioritize home-based healthcare delivery even after the pandemic, especially for patients with pre-existing conditions. For instance, NeuroMetrix, Inc. appointed a team to develop the business of DPNCheck, a POCT for peripheral neuropathies. The team is responsible for expanding the footprint in the healthcare market and focusing on the Medicare Advantage population.
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Regional Insights
North America held the largest revenue share of over 40.6% 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 Companies & Market Share Insights
Point-of-care diagnostics has witnessed considerable progress in the past years. Integration of molecular diagnostics in POC testing is one of the significant advancements in this segment. Despite the fact that major players have limited the opportunities for new entrants, some companies were able to mark their entry into the market. Furthermore, key companies are engaged in the development of more sophisticated bench-top and portable testing solutions to maintain a competitive edge in the market. For instance, in March 2022, Una Health announced to partner with Siemens Healthineers for expanding the distribution channel of Atellica VTLi Patient-side Immunoassay Analyser in the U.K.
This product launch demo exhibited the company’s commitment to POC diagnostics and critical care. In March 2022, Visby Medical announced to receive funding of USD 25.5 million from the U.S. Biomedical Advanced Research and Development Authority in order to develop a rapid flu-COVID-19 PCR test for home use. At present, the test is in the under-developing phase and the design is ready as a PCR device that can detect COVID-19, influenza A, and B from a single sample. Some prominent companies in the global point of care diagnostics market include:
- F. Hoffmann-La Roche Ltd.
- Danaher
- BD
- Qiagen
- Abbott
- Siemens Healthcare AG
- bioMerieux SA
- Zoetis, Inc.
- Instrumentation Laboratory
- Nova Biomedical
- Quidel Corp.
- Trividia Health, Inc.
- Sekisui Diagnostics
- Nipro Corp.
- Trinity Biotech
- Orasure Technologies, Inc.
- Spectral Medical, Inc.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Point Of Care Diagnostics market
- Product
- Glucose Testing
- Hb1Ac Testing
- Coagulation Testing
- Fertility/Pregnancy
- Infectious Disease
- 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 of Abuse (DOA) Testing
- Urinalysis/Nephrology
- End-use
- Clinics
- Pharmacy & Retail Clinics
- Physician Office
- Urgent Care Clinics
- Non-practice Clinics
- Hospitals
- Home
- Assisted Living Healthcare Facilities
- Laboratory
- Clinics
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Objectives of the Study
- To define, describe, and forecast the Point Of Care Diagnostics market based on type, technology, application, end user, and region
- To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
- To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
- To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Point Of Care Diagnostics market
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