Point Of Care Diagnostics & Testing Industry Overview
The global point of care diagnostics market size is expected to reach USD 68.59 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.8% from 2022 to 2030. 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.
Point Of Care Diagnostics & Testing Market Segmentation
Grand View Research has segmented the global point of care diagnostics market based on product, end-use, and region:
Based on the Product Insights, the market is segmented into Glucose Testing, Hb1Ac Testing, Coagulation Testing, Fertility/Pregnancy, Infectious Disease, 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.
The infectious diseases segment held the largest revenue share of over 20.0% 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.
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.
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.
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.
Based on the End-use Insights, the market is segmented into Clinics, Hospitals, Home, Assisted Living Healthcare Facilities, Laboratory.
The clinics segment accounted for the largest revenue share of over 35.0% 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.
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.
The home end-use segment is expected to register the fastest growth rate of 7.5% 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.
Point Of Care Diagnostics & Testing Regional Outlook
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Companies Profile & 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.
Some prominent players in the global point of care diagnostics & testing 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.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.