Global Point of Care (POC) Diagnostics Market Highlights Over 2022 - 2031

The global point of care (POC) diagnostics market is estimated to garner around USD 50 billion in revenue by 2031 by growing at a CAGR of nearly 11% over the forecast period, i.e., 2022 –  2031. The growth of the market can be attributed to the rising prevalence of various chronic and infectious diseases. Increasing ailments, such as cardiac diseases, hepatitis, cancer, gastrointestinal, respiratory, and sexually transmitted diseases (STDs) have significantly increased the need for POC tests to help healthcare professionals. According to the World Health Organization, in 2019, it was estimated that about 17.9 million people died from cardiovascular diseases. This is expected to boost the demand for point-of-care diagnostics in upcoming years.

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Moreover, the shift towards decentralized diagnostics and improved access to point-of-care devices through online platforms are some of the other key factors likely to drive the long-term growth of the point-of-care diagnostics market. Furthermore, the technological advancements in POC devices and the rise in investments by key players are estimated to also propel the market growth over the forecast period.

The COVID-19 pandemic has had a positive impact on the point-of-care diagnostics market owing to the increasing usage of POC tests that can rapidly diagnose COVID-19 and can give speedy results. Further, the adoption of point-of-care testing is booming the market growth.

However, the lack of knowledge regarding POC tests by clinical personnel and stringent regulatory policies for the approval of POC testing kits are the key factors restraining the growth of the market.

The market is segmented by types into glucose monitoring, infectious disease testing, pregnancy, and fertility testing, hematology testing, cardiometabolic monitoring, urinalysis testing, coagulation monitoring, tumor markers testing, cholesterol test strips, and drugs of abuse testing, out of which, the glucose monitoring segment is anticipated to hold the major share over the forecast period. Glucose monitoring devices are easily available and can be used for self-checkup to measure the amount of glucose or sugar level in the blood flow. These devices give reliable results and identify risk factors with high sugar levels, and also help in designing new diet charts and medications.

Global Point of Care (POC) Diagnostics Market Regional Synopsis

Regionally, the global point of care (POC) diagnostics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is estimated to witness significant growth over the forecast period on the back of the growing geriatric population, rising chronic diseases, and favorable government legislation and programs aimed at improving the healthcare infrastructure.

Furthermore, Asia-Pacific is predicted to be the fastest growing region in the point-of-care diagnostics market owing to the growing demand for efficient and effective diagnostics, as well as increasing middle-class population with regular health issues, especially in developing countries such as China, Japan, and India.

Market Segmentation

Our in-depth analysis of the global point of care (POC) diagnostics market includes the following segments:

By Types

• Glucose Monitoring

• Infectious Disease Testing

• Pregnancy and Fertility Testing

• Hematology Testing

• Cardiometabolic Monitoring

• Urinalysis Testing

• Coagulation Monitoring

• Tumor Markers Testing

• Cholesterol Test Strips

• Drugs of Abuse Testing

By End User

• Hospitals

• Clinics

• Diagnostic Centers

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Point of Care (POC) Diagnostics Market

Growth Drivers

• Rising prevalence of various chronic and infectious diseases

• Increased decentralized diagnostics, and improved access to point-of-care devices through online platforms

Challenges

• Lack of knowledge regarding POC tests by clinical personnel

• Stringent regulatory policies for the approval of POC testing kits

Key Companies Dominating the Global Point of Care (POC) Diagnostics Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global point of care (POC) diagnostics market that are included in our report are F. Hoffmann-La Roche Ltd., Siemens Healthcare GmbH, Danaher, Quidel Corporation, Chembio Diagnostics, Inc., EKF Diagnostics, Trinity Biotech, Fluxergy, Abbott, and others.

Latest Developments in the Global Point of Care (POC) Diagnostics Market:

• June 2019: Abbott announced the availability of Afinion Hb1Ac Dx assay for healthcare professionals to diagnose diabetes and assess patients’ risk of developing the condition. This is the first and only rapid point of care test that has been approved by the U.S. Food and Drug Administration (FDA).

• September 2020: F. Hoffmann-La Roche Ltd. announced the launch of SARS-CoV-2 Antigen test for use in point of care settings to reliably and accurately screen exposure of SARS-CoV-2 in both symptomatic and asymptomatic people.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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