Dublin, Nov. 26, 2024 (GLOBE NEWSWIRE) -- The "Point-of-Care Diagnostics: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.
The global market for point-of-care diagnostics was valued at $36.9 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 10.2% to reach $65.9 billion by the end of 2029.
This study focuses on point-of-care (POC) testing, one of the most active segments in the diagnostic industry. POC testing is growing in both home use and near-patient applications. Both segments are included in this market study. Globally, the diagnostic testing business is a multi-billion-dollar industry with intense competition and high growth areas. The United States is the world's largest single market for diagnostic testing.
Funding and grants from the government for advancing and developing innovative products also contribute to adopting innovative technologies for infectious disease diagnosis. The adoption of innovative technologies, such as artificial intelligence (AI), machine learning, and advanced biosensors, is further accelerating the growth of the point-of-care diagnostics market. These cutting-edge technologies enhance diagnostic accuracy, speed, and accessibility, allowing more efficient patient care.
Additionally, innovations in portable diagnostic devices and telemedicine integration are expanding the reach of POC diagnostics, enabling real-time health monitoring and timely interventions. These market innovations are expected to increase the reach of POC devices to remote areas in developing and underdeveloped countries and make them budget-friendly; they also ensure that an economically challenged populace adopts these units. The increasing prevalence of diabetes and other chronic diseases also contributes to growth in the global market.
Strict approval and commercialization regulations are the primary factors restraining market growth. POC devices are regulated like other diagnostic devices, and in vitro devices are regulated by the U.S. Food and Drug Administration (FDA). The FDA considers POC devices to be high-risk and, therefore, requires that they have pre-market approval. Strict healthcare standards and high regulatory barriers significantly impact the introduction of innovative technologies. The regulations and standards are rigorous and require substantial expertise to navigate; this has resulted in increased time spans for the pre-market approval and commercialization process.
Report Scope
The point-of-care diagnostics market is extensive and constantly evolving with new technologies and methodologies. This report explores the current and future market potential, competitive environment, regulatory scenario, and market trends, including projections through 2029 and an analysis of key players.
The report highlights ongoing R&D efforts focused on improving accuracy accessibility and incorporating innovative diagnostic procedures. It provides insights into market drivers, challenges, opportunities, industry status, developments, trends, and strategies like mergers, acquisitions, and collaborations. It is a valuable resource for market players, potential entrants, government agencies, and other stakeholders, especially those interested in geographic expansion.
The report includes:
- Analyses of global market trends, with market revenue data (sales figures) for 2021-2023, estimates for 2024, and projected CAGRs through 2029
- Estimates of the market size and revenue forecasts for the PoC diagnostics market, with market share analysis by test type, product type, end user, and region
- Discussions of the market dynamics, opportunities and challenges, as well as emerging technologies
- Coverage of government regulations and policies, R&D initiatives, exploration activities, and government programs
- Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG scores, and consumer attitudes
- Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
- Profiles of the leading companies, including Abbott, BD, Danaher Corp., Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche Ltd.
Full List of Point-of-Care DiagnosticsCompanies Profiled
- Abbott
- BD
- Danaher Corp.
- GE Healthcare
- F. Hoffmann-La Roche Ltd.
- Medtronic
- Quest Diagnostics Inc.
- QuidelOrtho Corp.
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 159 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $40.6 Billion |
| Forecasted Market Value (USD) by 2029 | $65.9 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Market Overview
- Novel Approaches for POC
- Significance of CLIA in the United States
- Regulatory Guidelines
- Good Manufacturing Practice
- The FDA's Role in POC Testing
- Conclusion
Chapter 3 Market Dynamics
Market Drivers
- High Incidences of Infectious Diseases
- Growing Prevalence of Chronic Diseases
- Increasing Demand for Self-Testing
- Aging Population
Market Restraints
- Challenges Faced by POC Manufacturers Due to Pricing Pressure
- Technical Complexity
- Lack of Specialized Training
Market Challenges
- Challenges in Deploying Point-of-Care (POC) Diagnostics in Remote Settings
- Environmental and Contamination Challenges in Point-of-Care Diagnostics
Market Opportunities
- Increasing R&D Budget
- Excellent Market Potential for POCT with AI and ML Integration
- Emerging Economies
Chapter 4 Market Segmentation Analysis
Point-of-Care Diagnostics Market, by Test Type
- Drug and Alcohol Screening
- Blood Gas Electrolyte and Metabolite (BGEM)
- Cardiac Markers
- Cholesterol Testing/Monitoring
- Glucose Testing and Monitoring
- Infectious Disease Testing
- Pregnancy and Fertility Testing
- Hemoglobin and Hemostasis
- Tumor Marker
- Urinalysis/Urine Chemistry
- Others
Point-of-Care Diagnostics Market, by Product
- Hardware
- Software
Point-of-Care Diagnostics Market, by End User
- Hospitals and Critical Care Settings
- Home Care Settings
Point-of-Care Diagnostics Market, by Region
Chapter 5 Emerging and Upcoming Technologies in the Market
- Emerging and Upcoming Technologies
- AI in Point-of-Care Diagnostics
- CRISPR-Cas Systems
- 3D Rapid Prototyping
- Quantum Dots
- RFID (Radio-Frequency Identification) and NFC (Near Field Communication)
- Smartphone-Based Medical Imaging
- Nanomaterials in POC Devices for Pathogen Detection
- Microfluidics-Based Sensing Technologies
- Cloud-Integrated AI
- D3 Array-UTI
- EVIK DxSpheres: A Solid Assay Solution
- UNIQO 160 Automated IIFT System
- Recent Developments
Chapter 6 ESG Development
- Introduction
- Sustainability in Plastics and Bio-Based Alternatives
- ESG Risk Ratings
- The WHO Global Action Plan
- Analyst Viewpoint
Chapter 7 Competitive Landscape
- Mergers, Acquisitions and Collaborations
- Strategic Alliances
- FDA Approvals
- Patent Analysis
- Patent Analysis, by Year
- Company Share Analysis
Chapter 8 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/arhfdy
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