Global Point of Care Diagnostics Market, By Platform (Lateral Flow Assays, Dipsticks, Microfluidics, Molecular Diagnostics, Immunoassays), Prescription (Prescription-Based Testing, OTC Testing), End-User (Professional Diagnostic Centers, Home Care, Research Laboratories, Other End Users), Product (Glucose, Cardio Metabolic, Infectious Disease, Influenza, HIV, Hepatitis C, Sexually Transmitted Disease (STD), Healthcare-Associated Infection (HAI), Respiratory Infection, Tropical Disease, Other Infectious Disease, Coagulation, PT/INR Activated Clotting Time (ACT/APTT), Pregnancy and Fertility, Tumor/Cancer Marker, Urinalysis, Cholesterol, Hematology, Drugs-of-Abuse, Fecal Occult, Other POC Products) – Industry Trends and Forecast to 2031.
Point of Care Diagnostics Market Analysis and Size
Point-of-care testing diagnostics have numerous advantages, allowing patients to be diagnosed in a variety of settings, including the doctor's office, an ambulance, the home, the field, or the hospital. The outcomes of care are timely and provide the patient with prompt treatment. Chronic diseases, such as diabetes, rheumatism, and cancer, are becoming more common around the world for a variety of reasons, including an increase in the geriatric population, sedentary lifestyles, unhealthy eating habits, and environmental factors. Chronic diseases, for example, kill more than 38 million people worldwide each year. Cardiovascular diseases cause the most chronic disease deaths each year, killing 17.5 million people, followed by cancer (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million).
Data Bridge Market Research analyzes that the global point of care diagnostics market which was USD 40,280.13 million in 2023, is expected to reach USD 71,424.23 million by 2031, and is expected to undergo a CAGR of 9.1% during the forecast period of 2024 to 2031. “Lateral flow assays” dominate the platform segment of the market due to rising demand for point of care diagnostics. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Point of Care Diagnostics Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
By Platform (Lateral Flow Assays, Dipsticks, Microfluidics, Molecular Diagnostics, Immunoassays), Prescription (Prescription-Based Testing, OTC Testing), End-User (Professional Diagnostic Centers, Home Care, Research Laboratories, Other End Users), Product (Glucose, Cardio Metabolic, Infectious Disease, Influenza, HIV, Hepatitis C, Sexually Transmitted Disease (STD), Healthcare-Associated Infection (HAI), Respiratory Infection, Tropical Disease, Other Infectious Disease, Coagulation, PT/INR Activated Clotting Time (ACT/APTT), Pregnancy and Fertility, Tumor/Cancer Marker, Urinalysis, Cholesterol, Hematology, Drugs-of-Abuse, Fecal Occult, Other POC Products)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
|
|
Market Players Covered
|
Abbott(U.S.), Siemens Healthineers AG (Germany), Quidel Corporation (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (U.S.), Becton, Dickinson and Company (U.S.), Chembio Diagnostics (U.S.), EKF Diagnostics (U.K.), Trinity Biotech plc (Ireland), Instrumentation Laboratory (a Werfen Company) (U.S.), Nova Biomedical (U.S.), PTS Diagnostics (U.S.), Sekisui Diagnostics (U.S.), Thermo Fisher Scientific (U.S.), bioMérieux S.A. (France)
|
|
Market Opportunities
|
|
Market Definition
Point-of-care diagnostics (POC diagnostics) refer to medical diagnostic testing performed outside of a traditional laboratory setting, typically at or near the location where the patient is receiving care. The purpose of point-of-care diagnostics is to provide rapid and convenient access to diagnostic information, allowing healthcare professionals to make timely decisions about patient management.
Global Point of Care Diagnostics Market Dynamics
Drivers
- Rising Demand for Instantaneous Results
The healthcare landscape has seen an increasing preference for rapid and immediate test results. Point-of-care diagnostics fulfill this need by offering quick outcomes, reducing patient wait times, and enabling immediate treatment decisions. This demand is particularly crucial in emergency rooms, ambulances, and rural or remote healthcare settings where prompt diagnoses are critical for patient care. In addition, the escalating demand for quick COVID-19 testing during the pandemic highlighted the significance of point-of-care diagnostics. These tests became instrumental in identifying cases swiftly, aiding in containment efforts and preventing further transmission.
- Technological Advancements in Diagnostics
Technological innovations have significantly transformed point-of-care diagnostics. Miniaturization, advanced biosensors, and lab-on-a-chip technologies have enhanced the accuracy, sensitivity, and specificity of these devices. This evolution allows for a broader range of diagnostic tests, making them more accessible and user-friendly across various healthcare settings. Furthermore, the integration of point-of-care devices with digital health solutions and smartphone applications has augmented their utility, enabling real-time data sharing, remote monitoring, and improved patient engagement.
- Increasing Prevalence of Infectious Diseases
The prevalence of infectious diseases globally, including HIV, malaria, tuberculosis, and more recently, the COVID-19 pandemic, has driven the need for rapid and decentralized testing. Point-of-care diagnostics play a pivotal role in detecting these infections swiftly, aiding in early intervention, treatment initiation, and prevention of further spread. The heightened focus on pandemic preparedness and the need for quick and accurate diagnostics during public health emergencies has further accentuated the demand for point-of-care testing platforms.
Opportunities
- Advancements in Personalized Medicine
The shift toward personalized medicine and targeted therapies presents a significant opportunity for point-of-care diagnostics. These devices play a pivotal role in enabling rapid and tailored diagnostics, allowing healthcare providers to personalize treatment plans based on individual patient profiles. As the trend toward precision medicine continues, there's immense potential for point-of-care tests that facilitate personalized care.
- Integration of AI and Big Data Analytics
The integration of artificial intelligence (AI) and big data analytics offers vast opportunities in enhancing the capabilities of point-of-care diagnostics. AI-driven algorithms can improve the accuracy and interpretation of test results, aiding in more precise diagnoses. In addition, leveraging big data analytics can enable predictive analytics, facilitating early disease detection and preventive interventions.
Restraints/Challenges
- Regulatory Challenges and Quality Assurance
Ensuring regulatory compliance and maintaining consistent quality across point-of-care devices is a significant challenge for manufacturers. The diverse regulatory landscape across different regions and countries requires rigorous adherence to standards and protocols. Ensuring quality control and meeting regulatory requirements for approval and commercialization can be time-consuming and resource-intensive.
- Cost Constraints and Reimbursement Issues
Despite the benefits of point-of-care diagnostics, their initial acquisition costs and ongoing operational expenses can be higher than traditional laboratory tests. This cost factor can limit widespread adoption, especially in resource-constrained settings or regions with inadequate healthcare infrastructure. In addition, limited reimbursement coverage for these tests in certain healthcare systems poses a financial challenge for both patients and healthcare providers.
This point of care diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the point of care diagnostics market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In January 2022, Roche will launch its Cobas Pulse System in select countries that accept the CE Mark. This is the latest generation of connected point-of-care solutions for professional blood glucose management from Roche Diagnostics
Global Point of Care Diagnostics Market Scope
The point of care diagnostics market is segmented on the basis of platform, prescription, end-user, and product. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Platform
- Lateral Flow Assays
- Dipsticks
- Microfluidics
- Molecular Diagnostics
- Immunoassays
- Others
Prescription
- Prescription Based
- OTC Testing
End User
- Professional Diagnostic Centers
- Research Laboratories
- Home Care
- Others
Product
- Glucose
- Cardio Metabolic
- Infectious Disease
- Influenza
- HIV
- Hepatitis C
- Sexually Transmitted Disease (STD)
- Healthcare-Associated Infection (HAI)
- Respiratory Infection
- Tropical Disease
- Other Infectious Disease
- Coagulation, PT/INR Activated Clotting Time (ACT/APTT)
- Pregnancy and Fertility
- Tumor/Cancer Marker
- Urinalysis
- Cholesterol
- Hematology
- Drugs-of-Abuse
- Fecal Occult
- Other POC Products
Global Point of Care Diagnostics Market Regional Analysis/Insights
The point of care diagnostics market is analyzed and market size insights and trends are provided by country, platform, prescription, end-user, and product as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
North America is expected to dominate the market due to the increase in the expenditure for research and development proficiencies, increasing government’s initiatives, and improved healthcare infrastructure in various countries.
Asia-Pacific is expected to show the highest growth rate in the market during the forecast period of 2024 to 2031 due to the increasing government expenditure on healthcare sector and rising technological advancements and initiatives by the government.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The point of care diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for point of care diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the point of care diagnostics market. The data is available for historic period 2016-2021.
Competitive Landscape and Global Point of Care Diagnostics Market Share Analysis
The point of care diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to point of care diagnostics market.
Some of the major players operating in the point of care diagnostics market are:
- Abbott Laboratories (U.S.)
- Siemens Healthineers AG (Germany)
- Quidel Corporation (U.S.)
- F. Hoffman-La Roche Ltd. (Switzerland)
- Danaher Corporation (U.S.)
- Becton, Dickinson and Company (U.S.)
- Chembio Diagnostics (U.S.)
- EKF Diagnostics (U.K.)
- Trinity Biotech plc (Ireland)
- Instrumentation Laboratory (a Werfen Company) (U.S.)
- Nova Biomedical (U.S.)
- PTS Diagnostics (U.S.)
- Sekisui Diagnostics (U.S.)
- Thermo Fisher Scientific (U.S.)
- bioMérieux S.A. (France)
SKU-