USD 44.9 billion
Point Of Care (POC) Diagnostics Market Size, Share, Growth Analysis, By Product Type(Glucose Monitoring, Covid-19 Testing, Cardiometabolic Monitoring, Infectious Disease Testing, Coagulation Monitoring, Pregnancy & Fertility Testing), Sample, End-Users, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2098 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
121
|Figures:
77
Point Of Care Diagnostics Market Insights
Global Point of Care Diagnostics Market size was valued at USD 47.67 Billion in 2022 and is poised to grow from USD 50.54 Billion in 2023 to USD 81.17 Billion by 2031, growing at a CAGR of 6.1 % in the forecast period (2024-2031).
The demand for the point of care diagnostics market is increasing owing to technological advancements in POC devices, increasing infectious diseases, and rising investments of the prominent companies in the market. The increasing prevalence of target disorders along with infectious diseases like tuberculosis and AIDS are influencing the growth of the market. Furthermore, the patients also want instant test results related to their diseases, leading to the development of market. The necessity of the healthcare sector to make more patient-centric devices and solutions is positively influencing the growth of the market. The point of care diagnostics has revolutionized the process of patient care due to its simplicity and efficiency. The point of care diagnostics has massively evolved and enhanced with the progression of microfluidics. The microfabrication and microfluidics process have advanced in the last few years making POC devices affordable, simple to use, portable, and provide fast results. Many organizations in the sector are also investing in research to improve this microfluids technology and offer better results to patients.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Infectious Disease
Fastest Growth
Glucose Testing
Growth Rate
6.1% CAGR
Global Point Of Care Diagnostics Market ($ Bn)
Country Share for North America Region (%)
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Point Of Care Diagnostics Market Segmental Analysis
The global point of care diagnostics market is segmented into sample, product, end users, and region. Based on sample, the market is divided into Blood Sample, Urine Sample, and Nasal & Oropharyngeal Swabs. Based on product, the market is segmented into Glucose Monitoring, Covid-19 Testing, Cardiometabolic Monitoring, Infectious Disease Testing, Coagulation Monitoring, and Pregnancy & Fertility Testing. Based on end users, the market is segmented into Professional Diagnostics Center, Clinical Laboratories, Ambulatory Care Facilities, Pharmacies, Retail Clinics, Hospitals, Critical Care Centers, and Home Care Settings. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Sample
Based on samples, the market is segmented into blood samples, urine samples, and nasal & oropharyngeal swabs samples. The blood sample segment is dominating the market and holding a significant market share. This is expected to continue increasing with the rising prevalence of various chronic and other diseases. Blood tests help physicians to diagnose patients for different diseases like HIV or AIDS and coronary artery diseases. Blood tests also assist in determining whether the organs like kidney, liver, and thyroid are functioning properly or not. Therefore, the application of blood tests for diagnosing different diseases and to monitor the efficiency of organs is boosting the growth of the segment in the point of care diagnostics market.
The urine samples are the fastest growing segment in the point of care diagnostics market. This is another vital test that can check the well-being of different organs like kidney and liver. The rising prevalence of disorders related to kidney functions among the population globally is increasing its demand. Data was published by CDC in 2023, where it mentioned that almost 35.5 million adults in the US are estimated to be suffering from Chronic Kidney Diseases (CKD). This accounts for nearly 1 in 7 adults in the country.
Analysis by End Use
Based on end use, the professional diagnostic center is witnessing the maximum growth and dominating the point of care diagnostic market. The professional diagnostic centers provide a vast range of POC diagnostic tests that caters to different types of medical specialties and healthcare requirements. In most cases, these centers have advanced equipment and a well-trained workforce, enabling them to conduct a wide range of tests. The tests can include urinalysis, blood tests, pregnancy tests, rapid infectious disease testing, and many more. The professional diagnostic testing centers are becoming a preferred option for the patients and medical providers because of the availability of comprehensive testing services. Furthermore, professional diagnostic centers are filled with qualified medical professionals, like medical technologists, clinical laboratory scientists, and physicians.
The home care setting is growing at the fastest rate in the point of care diagnostics market. This is mainly due to the comfort level and cost-efficiency of point of care diagnostics offered to patients at home. Furthermore, POC in the home healthcare setting also enables patients to address medical challenges at home and make instant decisions on what can be done during emergencies. The rise of the aging population and increasing prevalence of chronic diseases is increasing this sector's healthcare demand. The popularity of homecare settings is increasing among people and medical providers as it can help in avoiding unnecessary visits, and hospital admissions, readmissions. It will also reduce expenses related to travelling that are necessary for meeting medical providers.
Global Point Of Care Diagnostics Market By Product Type
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Point Of Care Diagnostics Market Regional Insights
North America is dominating the global point of care diagnostics market as it did in the previous revenue period. The rising of geriatric population and the presence of better medical facilities are contributing to the market share. Furthermore, technological advancements like the launch of miniaturized diagnostic equipment providing precise and rapid results are propelling the market growth. The rising market penetration of Picture Archiving and Communication Systems (PACS) and Electronic Medical Records (EMRs) are also increasing the demand of point of care diagnostics market in the region. Moreover, the presence of prominent players like Abbott, BIOMERIEUX, BD, Siemens Healthineers AG, QIAGEN, Quidel Corporation, and Quest Diagnostics is positively influencing market growth.
Asia Pacific is witnessing the fastest growth in the point of care diagnostics market. The market is growing in this region exponentially due to the advancement of medical infrastructure. The demand is also boosted by the higher incidences of chronic and targeted diseases like diabetes and cancer along with infectious conditions such as HIV, syphilis, and RSV. Adoption of POC diagnostics in operating rooms, emergency rooms, intensive care units, path labs, and hospitals are increasing as patients prefer early and efficient outcomes.
Global Point Of Care Diagnostics Market By Geography
- Largest
- Fastest
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Point Of Care Diagnostics Market Dynamics
Drivers
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Increasing Technological Advancements to Enhance Usability of Diagnostic Devices
It has become easy to improve the efficiency and accuracy of POCT devices with the help of miniaturization of sensors, development of novel detection methods such as biosensors and microfluidics, and integration of wireless connectivity. Moreover, advancements in materials science and manufacturing techniques allow the production of affordable and efficient POC diagnostics solutions.
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High Demand for Convenient Testing leads
Patients and medical providers prefer testing methods that provide quick results. This allows physicians to make immediate decisions and timely interventions. POCT devices fulfil this requirement by offering quick diagnostics at or near the point of care, mitigating the time-consuming procedure of sending samples to centralized labs.
Restraints
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High Initial Investment Costs
Medical facilities are facing massive upfront costs while buying POCT from the companies along with additional expense for training, maintaining, and controlling quality. This expense can stop some medical professionals, particularly in limited resource settings, from using POCT technologies.
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Time Consuming Professional Training
Intensive training is necessary for medical providers to efficiently operate POCT devices imposing substantial time and resource constraints. This will reduce the speed of the adoption and expansion of POCT services in the medical facilities. Furthermore, the complex nature of some POCT technologies demands specialized skills, increasing the training burden.
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Point Of Care Diagnostics Market Competitive Landscape
Prominent players in the market are heavily investing in R&D for innovating and developing advanced POC diagnostic solutions. They are emphasizing on enhancing the accuracy, sensitivity, and speed of their tests. Companies are also extending the range of analytes and diseases that can be identified by utilizing POC devices. The research and development efforts are also exploring technologies like biosensors, microfluids, and lab-on-a-chip systems to improve the performance of POC diagnostics.
Top Player’s Company Profile
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Abbott Laboratories (US)
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Siemens Healthineers AG (Germany)
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Quidel Corporation (US)
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F. Hoffman-La Roche Ltd. (Switzerland)
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Danaher Corporation (US)
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Becton, Dickinson and Company (US)
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Chembio Diagnostics (US)
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EKF Diagnostics (UK)
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Trinity Biotech plc (Ireland)
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Instrumentation Laboratory (US)
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Nova Biomedical (US)
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PTS Diagnostics (US)
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Sekisui Diagnostics (US)
Recent Developments
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Beckman Coulter Inc. went into a strategic partnership with MeMed in January 2023. The aim was to develop and commercialize a hist immune response diagnostic test.
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Becton Dickinson and Company presented educational grant in January 2023. It will fund the 19 to Zero for a point of care testing pilot in the primary care setting.
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Vital Bioscience introduced VitalOne in July 2023. It is an advanced point of care lab testing platform offering blood testing so that doctors can perform tests, diagnose and treat patients in a single visit.
Point Of Care Diagnostics Key Market Trends
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Advancements in Personalized Medicine
The shift towards personalized and targeted therapies presents a significant potential for point-of-care diagnostics. These tools are essential for delivering swift and tailored diagnostic results, enabling healthcare providers to customize treatment strategies based on the unique profiles of individual patients.
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Integration of AI and Big Data Analytics
The integration of AI and big data analytics opens vast possibilities for enhancing point-of-care diagnostic capabilities. AI-driven algorithms can improve the accuracy and interpretation of test results, leading to more precise diagnoses. Leveraging big data analytics enables predictive insights, aiding in the early detection of diseases and supporting preventive measures.
Point Of Care Diagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global point of care diagnostics market is experiencing rapid expansion driven by advancements in technology and increasing demand for convenience. These technologies allow rapid and efficient testing at or near the patients. It minimizes the turnaround time for results and allows timely clinical decision making. Furthermore, factors like increasing incidences of infectious diseases, growing geriatric population, and the rising demand for decentralized medical solutions are boosting the market. Innovations in technology, like miniaturization, automation, and the integration of biosensors and smartphone connectivity, are progressing the market further.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 47.67 Billion |
| Market size value in 2031 | USD 81.17 Billion |
| Growth Rate | 6.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered | ’s Company Profile
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Point Of Care Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Point Of Care Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Point Of Care Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Point Of Care Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Point Of Care Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Point Of Care Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Point Of Care Diagnostics Market Report Snapshots
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