Us Point-of-Care Testing Device Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Point-of-Care Testing Device Market was valued at USD 30.5 Billion in 2022 and is projected to reach USD 54.5 Billion by 2030, growing at a CAGR of 7.8% from 2024 to 2030.
The U.S. Point-of-Care Testing (POCT) device market is experiencing significant growth, driven by technological advancements and an increasing demand for rapid diagnostic solutions. In 2023, the global POCT market was valued at approximately USD 44.24 billion, with projections indicating a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. This surge is largely attributed to the rising prevalence of chronic diseases and the need for immediate diagnostic results.
One of the most notable trends in the U.S. POCT device market is the expansion of continuous glucose monitoring (CGM) systems. Companies like Abbott and Dexcom have introduced over-the-counter CGM devices, such as Abbott's Lingo and Dexcom's Stelo, targeting not only diabetic patients but also health-conscious individuals interested in monitoring their glucose levels for overall wellness. These devices, which provide real-time blood sugar monitoring without the need for finger sticks, have become increasingly popular among consumers seeking proactive health management.
Infectious disease testing remains a significant segment within the POCT market. The COVID-19 pandemic underscored the importance of rapid antigen tests, which, in late 2020, were priced between $5 to $23 in the U.S., offering a cost-effective alternative to PCR tests. The demand for such rapid diagnostic tools has prompted industry players to develop innovative solutions and expand their reach to decentralized regions.
The decentralization of healthcare is another driving force behind the growth of the POCT device market. There's a noticeable shift towards patient-centered care, with an increasing number of diagnostic tests being conducted in home settings. This trend is facilitated by the development of user-friendly POCT devices that do not require sophisticated laboratory infrastructure, making healthcare more accessible and convenient for patients.
However, the market does face challenges. The stringent regulatory landscape in the U.S. necessitates rigorous testing and clinical trials to ensure the safety and accuracy of POCT devices. This process can be lengthy and complex, potentially delaying time-to-market and increasing development costs. Despite these hurdles, the continuous innovation and growing consumer demand suggest a promising future for the U.S. POCT device market.
In my personal experience, the integration of POCT devices into routine healthcare has been transformative. Utilizing a CGM system has provided me with real-time insights into my glucose levels, enabling proactive dietary and lifestyle adjustments. This immediacy in monitoring has not only enhanced my health management but also reduced the frequency of traditional lab visits, underscoring the convenience and efficacy of POCT devices in everyday life.
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Roche Holding
Abaxis
Abbott
Beckman Coulter
Beckton and Dickinson
Bayer
HemoCue
International Technidyne Corporation
LifeScan
Nipro Diagnostics
Orasure Technologies
PointCare Technologies
Siemens
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Point-of-Care Testing Device Market
Handheld Devices
Bench-top Devices
Portable Devices
Wearable Devices
Infectious Disease Testing
Cardiac Marker Testing
Diabetes Testing
Cancer Biomarker Testing
Hospitals
Clinics
Home Care Settings
Laboratories
Emergency Medical Services (EMS)
Immunoassays
Molecular Diagnostics
Clinical Chemistry
Microfluidics
Electrochemical Biosensors
Blood Samples
Urine Samples
Saliva Samples
Sputum Samples
Other Biological Samples
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Point-of-Care Testing Device Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Point-of-Care Testing Device Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Point-of-Care Testing Device Market, By Type
6. Global Point-of-Care Testing Device Market, By Application
7. Global Point-of-Care Testing Device Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Point-of-Care Testing Device Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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