Point Of Care Diagnostics Market Size, Growth and Forecast 2032

Market Insights

• The global demand for Point-Of-Care Diagnostics / Testing (POCT) was valued at USD 45618.5 Million in 2023 and is expected to reach USD 118599.8 Million in 2032, growing at a CAGR of 11.20% between 2024 and 2032.
• Molecular diagnostics is the fastest expanding segment of the Point-of-Care Diagnostics/Testing (POCT) industry, while immunodiagnostics is the dominating category.
•  In 2021, the Homecare segment had a considerable market share, and hospital and clinics are predicted to grow at the quickest CAGR of 7.8% between 2022 and 2027.
• In 2022, the infectious diseases section generated the greatest revenue, accounting for more than 24.4%, while the cancer markers segment is expected to grow by 9.6% throughout the projection year.
• The blood glucose monitoring kits segment had the highest revenue share in 2022.
• Handheld/portable analyzers are now in high demand.
• In 2021, the Homecare & Selfcare Testing category dominated the market, with hospitals and clinics predicted to grow at the quickest CAGR of 7.8% between 2022 and 2027.
• HIV POCT has rapidly increased, and another major component is sexually transmitted diseases (STIs) POCT.
• BNP testing is a substantial share-holding area.
•  Pregnancy testing kits are in high demand, and ovulation prediction kits are extremely popular on the market.
• North America had the biggest revenue share of more than 43.2% in 2023, while Asia Pacific is predicted to be the fastest-growing geographical market.
• The increasing importance of environmental monitoring and public health drives market expansion.
• Inaccurate point-of-care diagnostics slows market growth.

Executive Summary

Market Definition

The Point-Of-Care Diagnostics / Testing (POCT) Market is the market for medical devices that employ ultrasound Platform to create images of the internal End-Users of the body. Ultrasound equipment generate high-Distribution Channel sound waves that bounce off tissues and organs, resulting in real-time images that can be utilized for diagnosis. These devices are widely utilized in a variety of medical fields, including obstetrics and gynecology, cardiology, radiology, and others. The ultrasound device market covers the manufacture, distribution, and sale of these equipment to healthcare providers all over the world.

Market Overview

The global Point-Of-Care Diagnostics / Testing (POCT) Markethas witnessed steady growth in recent years and is expected to grow at a CAGR of 11.20% between 2024 and 2032. The market was valued at USD 45618.5 million in 2023 and is expected to reach USD 118599.8 million in 2032.

The POCT market is expanding rapidly around the world. It is propelled by causes such as the rising prevalence of chronic diseases, the need for quick and precise diagnostic results, and the growing desire for decentralized healthcare. POCT has various advantages, including faster turnaround times, more convenience, and the opportunity to conduct testing in non-traditional locations. The market has a wide range of POCT devices and assays, including glucose monitoring, infectious disease testing, cardiac indicators, and pregnancy tests. The market is likely to grow further as technological improvements enable the creation of more innovative and user-friendly POCT devices.

Segmentation by Technology

• Molecular Diagnostics is the fastest growing segment of the Point-of-Care Diagnostics/Testing (POCT) market. Molecular diagnostics uses tools that identify and analyze genetic material, such as DNA or RNA, to diagnose and monitor a variety of disorders.
• Immunodiagnostics is the dominant segment of the POCT Market.

Segmentation by End-User

•  In 2021, the Homecare segment enjoyed a significant market share. This is due to the widespread availability of point-of-care devices on over-the-counter (OTC), prescription, and online platforms. Furthermore, at-home point-of-care devices are simple to use and advantageous for patients with diabetes and other serious illnesses such as carpal tunnel syndrome, acute coronary syndrome, and others.
• However, hospital & clinics are expected to grow at the fastest CAGR of 7.8% between 2023 and 2032. This is due to an increase in clinic visits by patients suffering from carpal tunnel syndrome, acute coronary syndrome, diabetes, heart disease, and other conditions.

Segmentation by Application

• In 2023, the infectious diseases section generated the most revenue, accounting for more than 24.4%. Infectious illness testing has evolved from centralized to decentralized point-of-care testing, resulting in improved patient care.
• The cancer markers segment is predicted to expand by 9.6% over the forecast period. Every year, millions of individuals present to the emergency room with signs of a heart attack. Cardiovascular diseases account for around 31% of all deaths.

Segmentation by Product Type

• The blood glucose monitoring kits segment had the largest revenue share in 2023. The increased prevalence of diabetes, combined with the need for regular monitoring of blood sugar levels, is driving category expansion.
• The fastest-growing segment cardiac marker testing kits. These kits help with the diagnosis and monitoring of cardiovascular disorders that are common around the world.

Segmentation by Platform                                                

• Handheld/portable analyzers are now in high demand. These portable analyzers provide convenience and flexibility, allowing healthcare workers to conduct diagnostic tests at the point of service or in remote locations. They are especially beneficial in resource-limited settings or while conducting fieldwork.

Segmentation by Distribution Channel

• In 2023, the Homecare & Selfcare Testing category dominated the market. This is due to the widespread availability of point-of-care devices on over-the-counter (OTC), prescription, and online platforms.
• However, hospitals and clinics are expected to develop at the fastest CAGR of 7.8% between 2022 and 2027. This is due to an increase in clinic visits by patients suffering from carpal tunnel syndrome, acute coronary syndrome, diabetes, heart disease, and other conditions.

Segmentation by Infectious Disease Testing Type

• HIV POCT has grown significantly due to the global effect of HIV/AIDS and the significance of early identification and surveillance.
• Another important section is sexually transmitted infections (STIs) POCT, which continues to be a major public health concern around the world.

Segmentation by Cardiac Marker Testing Type

• Troponin is a cardiac marker used to identify and track heart problems, including myocardial infarction (heart attack). Troponin testing enables healthcare providers to identify heart damage and make informed treatment decisions.
• BNP testing is also a significant share holding segment.

Segmentation by Pregnancy and Fertility Testing Type

• Pregnancy testing kits are in increased demand. Individuals often utilize pregnancy testing kits to discover whether or not they are pregnant. They offer a quick and easy approach to confirm pregnancy in the comfort of one's own home.
• Ovulation prediction kits are very popular in the market.

 Segmentation by Region  

• North America had the highest revenue share of more than 43.2% in 2023
• Asia Pacific is expected to be the fastest-growing geographical market
• The rest of the world, including Latin America, the Middle East, and Africa, supplies the remaining demand for Point-Of-Care Diagnostics / Testing (POCT).

North America had the highest revenue share in 2023. The region will maintain its dominant position during the projection years, owing to the rapidly increasing COVID-19 cases and the presence of important players in the United States and Canada. For example, in March 2022, bioLytical Laboratories Inc., a Canadian company, received CE marking for the iStatis COVID-19 Antigen Home Test. This allows the company to enter the European market.

Asia Pacific is expected to be the fastest-growing geographical market, with a CAGR of 8.1% between 2023 and 2030. The Asia Pacific point-of-care market is likely to be driven by a growing pool of local diagnostic kits and reagents producers that will offer a diverse variety of testing options for coronavirus infection. Countries are constantly expanding their capacities to increase COVID-19 testing. For example, in April 2020, Malaysia's Ministry of Health approved the use of antigen quick testing kits exported from South Korea to enhance the country's COVID-19 testing capacity to 16,500 per day.

Key Highlights of the Report

The global Point-Of-Care Diagnostics / Testing (POCT) Market is segmented by Technology, End-User, Applications, Product Type, Platform, Distribution Channel, Infectious Disease Testing Type, Fire Rating and region. The blood glucose monitoring kits segment had the highest revenue share in 2023, while the Homecare & Selfcare Testing category led the market. Additionally, HIV POCT has increased dramatically, and handheld/portable analyzers are in high demand. Also, ovulation prediction kits are extremely popular in the market, with North America leading the market growth.

The market is being driven by increasing need for rapid and accurate diagnostic results, the rising prevalence of chronic diseases and the need for early detection, and technological advancements that will result in more portable and user-friendly POCT devices. Furthermore, regulatory constraints and strict clearance processes, limited reimbursement policies for POCT tests, and reliance on qualified healthcare professionals for correct testing and interpretation are the major restraints of the market.

Nonetheless, North America has the biggest revenue share in 2023. The region will maintain its leading position during the projection period. Furthermore, Asia Pacific is projected to be the fastest-growing geographical market, with a CAGR of 8.1% between 2023 and 2032.

What Are The Main Drivers Of The Global Point-Of-Care Diagnostics / Testing (POCT)Market?

Several reasons drive the Point-of-Care Diagnostics/Testing (POCT) market. There is a growing desire for speedy and precise diagnostic outcomes. Patients and healthcare providers alike want speedy and trustworthy test results to make informed treatment decisions. Furthermore, with the increasing prevalence of chronic diseases, early detection is critical for optimal care. POCT allows healthcare practitioners to diagnose illnesses quickly, which leads to better patient outcomes.

What Are The Major Challenges Faced By The Global Point-Of-Care Diagnostics / Testing (POCT)Market?

While the POCT market is expanding, it is not without its challenges. Regulatory hurdles and complex licensing processes may impede the deployment of novel POCT devices and tests. Compliance with regulatory regulations is critical for maintaining patient safety and test accuracy. Furthermore, limiting reimbursement rules for POCT tests may impede market growth. To encourage the use of POCT, healthcare institutions and insurance providers must provide robust reimbursement structures.

What Are The Growth Opportunities In The Global Point-Of-Care Diagnostics / Testing (POCT)Market?

The POCT market offers numerous promising potential for expansion and innovation. Emerging markets with expanding healthcare infrastructure present considerable opportunities for market growth. These regions can benefit from POCT equipment' accessibility and End-User, which allows for efficient and rapid diagnosis. Furthermore, the integration of POCT with digital health platforms and telemedicine services creates new opportunities for remote patient monitoring and decentralized healthcare. This integration can improve access to healthcare, particularly in poor areas.

Market Drivers

The global Point-Of-Care Diagnostics / Testing (POCT) Marketis driven by several factors. The following are the key drivers of the global Point-Of-Care Diagnostics / Testing (POCT) Market:

Growing Importance in Environmental Monitoring and Public Health

The increasing importance of point-of-care diagnostics in environmental monitoring and public health needs the development of technologies that simplify networking, making it easier for medical practitioners to interpret test results correctly. For instance, in March 2022, Everything Genetic received authorization from the applicable regulatory agencies in the United Kingdom (UK) to commercialize COVID-19 Antigen Tests in the UK market. The company manufactures lateral flow devices at a single kit price of GBP 2, which is expected to drive growth in the point-of-care diagnostics industry.

Market Restraints

The global Point-Of-Care Diagnostics / Testing (POCT) Marketfaces some challenges that may hinder its growth. These include the following:

Inaccurate Point-Of-Care Diagnostics

The expensive cost of virus-clearing technologies has hampered the widespread inaccuracy of quick point-of-care diagnostic testing, resulting in fewer FDA approvals for rapid tests and a smaller market. Pre-analytical errors are extremely common in point-of-care testing. As a result, such accidents may impede the introduction of new items, limiting market expansion. For example, Siemens Healthcare issued a Class 2 Instrument Recall for its BGEM Analyze Card In-vitro Diagnostic Device, which quantitatively evaluates unanticoagulated arterial, venous, or capillary whole blood in the laboratory or at the point of care. This occurred as a result of contradicting glucose findings on card lot 01-20095-10. These reasons may limit the expansion of the point-of-care diagnostics industry.

Opportunities

The global Point-Of-Care Diagnostics / Testing (POCT) Marketoffers significant growth opportunities. These include the following:

Implementation of Remote Patient Monitoring

The deployment of digital Platform is expected to have a substantial impact on the development of point-of-care solutions in settings with limited resources. As part of their go-to-market strategy, organizations in the POCT field should prioritize the expanding use of telehealth as the industry standard. According to data collected by the Centres for Disease Control and Prevention during the pandemic, approximately 95% of health centres in the United States provided some type of telehealth to their patients. As a result, the emergence of remote patient monitoring systems like PixCell Medical, a point-of-care solution for CBC testing, is expected to have a beneficial impact on market development.

Competitive Landscape

Key Players

The global Point-Of-Care Diagnostics / Testing (POCT) Marketis highly competitive, with several key players. Some of the major players in the market and their market share are as follows:

• Abbott (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• B.D. (U.S.)
• Siemens Healthcare Private Limited (Germany)
• Bio-Rad Laboratories, Inc. (U.S.)
• Danaher (U.S.)
• Sekisui Diagnostics (U.S.)
• Trinity Biotech (Ireland)
• bioMérieux (France)
• EKF Diagnostics (Germany)
• AccuBioTech Co., Ltd. (China)
• Instrumentation Laboratory (U.S.)
• Beckman Coulter, Inc. (U.S.)
• PTS Diagnostics (U.S.)
• Nova Biomedical (U.S.)
• Chembio Diagnostics, Inc. (U.S.)
• Quidel Corporation (U.S.)
• Sienco, Inc (U.S.)

These organizations prioritize product innovation, Point-Of-Care Diagnostics / Testing (POCT) Centers expansion, and mergers and acquisitions to stay competitive.

The global Point-Of-Care Diagnostics / Testing (POCT) Market's key players continually seek to stay ahead by offering new products and developments.

June 2022, Roche introduces the VENTANA DP 600 slide scanner for digital pathology, which improves patient care through precise diagnosis.

June 2022, Roche introduces a human papillomavirus (HPV) self-sampling tool, expanding cervical cancer screening choices.

May 2022, QIAGEN introduces therascreen EGFR Plus RGQ PCR Kit, which includes C797S detection to help guide non-small cell lung cancer (NSCLC) treatment.

June 2022, BD collaborates with the Mayo Clinic Platform, using real-world clinical data to improve post-market device surveillance and drive patient care innovation.

In June 2021, Quest Diagnostics completes its acquisition of Mercy Laboratory Services. The transaction aims to increase access to innovative, high-quality, and cost-effective laboratory services in the Midwest, allowing for more inexpensive patient care. The acquisition instantly increases Quest's access to clinicians and patients in Arkansas, Kansas, Missouri, and Oklahoma.

Summary of Key Findings

• Inaccurate point-of-care diagnostics fuels market expansion.
• Market segmented by Technology, End-User, Applications, Product Type, Platform, Distribution Channel, Infectious Disease Testing Type, Cardiac Marker Testing Type, Pregnancy and Fertility Testing Type and region.
• Handheld/portable analyzers are now in high demand.
• The blood glucose monitoring kits segment had the highest revenue share in 2022.
• North America is leading market growth; the market is highly competitive with key players including Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), B.D. (U.S.), Siemens Healthcare Private Limited (Germany). and Others.

Future Outlook

• Increasing adoption of POCT devices in home healthcare settings
• Technological advancements leading to more accurate and user-friendly devices
• Growing demand for rapid diagnostic solutions
• Expansion of POCT into emerging markets
• Integration of POCT with digital health platforms
• Rising focus on preventive and personalized medicine

How CXOs Can Benefit from the Credence Research Point-Of-Care Diagnostics / Testing (POCT) MarketReport

The Credence Research Point-Of-Care Diagnostics / Testing (POCT) MarketReport provides CXOs with a comprehensive overview of the market, including:

• Market size and growth forecast: The report provides detailed estimates of the global Point-Of-Care Diagnostics / Testing (POCT) Marketsize, segmented by Technology, End-User, Applications, Product Type, Platform, Distribution Channel, Infectious Disease Testing Type, Cardiac Marker Testing Type, Pregnancy and Fertility Testing Type and region. It also includes forecasts for the market through 2032, based on key trends and drivers.
• Market segmentation: The report segments the Point-Of-Care Diagnostics / Testing (POCT) Marketby Technology, End-User, Applications, Product Type, Platform, Distribution Channel, Infectious Disease Testing Type, Cardiac Marker Testing Type, Pregnancy and Fertility Testing Type and region. This segmentation provides CXOs with a granular understanding of the market and the opportunities in each segment.
• Competitive landscape: The report profiles the key players in the Point-Of-Care Diagnostics / Testing (POCT) Marketand provides insights into their strategies, product offerings, and financial performance. This information can help CXOs to identify and assess their competition.
• Key trends and drivers: The report identifies and analyzes the key trends and drivers that are shaping the Point-Of-Care Diagnostics / Testing (POCT) Market. This information can help CXOs to make informed decisions about their investments and strategies.

CXOs can use the insights from the Credence Research Point-Of-Care Diagnostics / Testing (POCT) MarketReport to:

• Identify growth opportunities: The report can help CXOs to identify new growth opportunities in the Point-Of-Care Diagnostics / Testing (POCT) Market. For example, the report can help CXOs discover exciting new areas for growth in the POCT market
• Make informed investment decisions: The report can help CXOs to make informed investment decisions about Point-Of-Care Diagnostics / Testing (POCT). For example, the report can provide CXOs with valuable insights on market trends, competitive landscape, and technological advancements in the Point-Of-Care Diagnostics / Testing (POCT) industry.
• Develop competitive strategies: The report can help CXOs to develop competitive strategies for their Point-Of-Care Diagnostics / Testing (POCT) businesses. For example, the report can provide CXOs with a comprehensive analysis of the competitive landscape in the Point-Of-Care Diagnostics / Testing (POCT) Market. It can offer insights into the market share of key players, their product portfolios, pricing strategies, and distribution channels.
• Track market developments: The report can help CXOs to track market developments and stay ahead of the curve. For example, the report provides insights into the latest trends and innovations in the Point-Of-Care Diagnostics / Testing (POCT) Market.

Overall, the Credence Research Point-Of-Care Diagnostics / Testing (POCT) MarketReport is a valuable resource for CXOs who are looking to gain a deeper understanding of the market and identify opportunities for growth.

Segmentation

By Technology:

• Lateral Flow Assays (LFAs)
• Dipsticks
• Microfluidics/ Lab-on-a-Chip (LOC)
• Biosensors
• Molecular Diagnostics
• Immunodiagnostics
• Hematology Analyzers
• Coagulation Monitoring
• Others

By End-User:

• Hospitals and Clinics
• Physician Offices
• Ambulatory Care Settings
• Home Care
• Diagnostic Laboratories
• Research Institutes

By Application:

• Infectious Disease Testing
• HIV
• Influenza
• Hepatitis
• Sexually Transmitted Infections (STIs)
• Others
• Cardiology
• Diabetes Monitoring
• Coagulation Monitoring
• Pregnancy and Fertility Testing
• Cancer Markers
• Urinalysis
• Cholesterol Testing
• Others

By Product Type:

• Blood Glucose Monitoring Kits
• Cardiac Marker Testing Kits
• Infectious Disease Testing Kits
• Pregnancy and Fertility Testing Kits
• Hematology Testing Kits
• Coagulation Testing Kits
• Cholesterol Testing Kits
• Urinalysis Testing Kits
• Drug-of-Abuse Testing Kits
• Others

By Platform:

• Desktop/ Benchtop Analyzers
• Handheld/ Portable Analyzers

By Distribution Channel:

• Hospitals and Clinics
• Pharmacies
• Online Retailers
• Diagnostic Centers

By Infectious Disease Testing Type:

• HIV POCT
• Influenza POCT
• Hepatitis POCT
• Sexually Transmitted Infections (STIs) POCT
• Others

By Cardiac Marker Testing Type:

• Troponin Testing
• BNP Testing
• Others

By Pregnancy and Fertility Testing Type:

• Pregnancy Testing Kits
• Ovulation Prediction Kits

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-east Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa