Chicago, March 22, 2024 (GLOBE NEWSWIRE) -- Point of Care Diagnostics market in terms of revenue was estimated to be worth $49.7 billion in 2023 and is poised to reach $77.8 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth of point of care diagnostics markets is attributed to the growing prevalence of infectious disease, cardiovascular diseases, increasing cases of metabolic disorders such as diabetes, technological advancements of rapid tests, approvals of CLIA-waved PoC tests, growing trend towards healthcare decentralization and the growing emphasis of manufacturers on development affordable and user friendly home-based rapid tests for various conditions.
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Point of Care Diagnostics Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $49.7 billion |
| Estimated Value by 2028 | $77.8 billion |
| Growth Rate | Poised to grow at a CAGR of 9.4% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Platform, Mode of Purchase, Sample, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | High growth potential of emerging markets |
| Key Market Driver | Increasing prevalence of infectious diseases globally |
However, stringent regulatory approval process of new PoC devices and increase pricing pressure on PoC device manufactures are anticipated to negatively impact the growth of point of care diagnostics market
On the basis of products, the point-of-care diagnostics market is segmented into COVID-19 PoC testing products, infectious disease PoC testing products, coagulation monitoring products, pregnancy & fertility PoC testing products, haematology PoC testing products, drug-of-abuse PoC testing products, glucose monitoring products, , thyroid stimulating hormone PoC testing products, cancer marker PoC testing products, cardiometabolic monitoring products, fecal occult PoC testing products, urinalysis PoC testing products, cholesterol PoC testing products, and other PoC testing products. The infectious disease testing PoC products segment is expected to register the significant growth rate during the forecast period owing to the global rise in the prevalence of various infectious disease like influenza, COVID-19, and sexually transmitted infection and growing demand for rapid test kits among healthcare authorities to identify and monitor the infectious diseases outbreak
Based on the sample, the point-of-care diagnostics market is segmented into urine sample, blood sample, nasal sample and other samples. The blood sample segment dominated the market in 2022. Increasing availability of blood based point of care test and widespread usage of blood sample for the diagnosis of various conditions including blood disorders such as anemia, hemophilia, infectious diseases, monitoring blood glucose level, cardiac biomarkers, are expected to maintain its dominance in market during the forecast period.
On the basis of region, the Point- of- care diagnostics market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa. The point of care diagnostics market in Asia Pacific is expected to register the significant growth rate in the coming years attributed to the expansion of healthcare facilities, services, emergence of domestic PoC manufacturers, increase in patient population with diabetes, cardiovascular disease, growing awareness, coupled with rising healthcare expenditure and driving the demand for affordable and accessible diagnostics solutions, including rapid/point of care testing in the region.
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Point of Care Diagnostics market major players covered in the report, such as:
- Abbott Laboratories (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Danaher Corporation (US)
- Siemens Healthineers (Germany)
- Chembio Diagnostics, Inc. (US)
- bioMérieux (France)
- Becton, Dickinson and Company (US)
- Trinity Biotech plc (Ireland)
- EKF Diagnostics Holdings plc (UK)
- Thermo Fisher Scientific Inc. (US)
- QuidelOrtho Corporation (US)
- Werfen, S.A. (US)
- Nova Biomedical (US)
- PTS Diagnostics (US)
- Sekisui Diagnostics (US)
- and Among Others
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This research report categorizes the point-of-care diagnostics market based on Product, Platform, Mode of Purchase, Sample, End User, and Region
Global Point of Care Diagnostics Market, by Product
- COVID-19 test products
- Glucose Monitoring Products
- Strips
- Meters
- Lancets & Lancing Devices
- Cardiometabolic Monitoring Products
- Point-of-care and rapid diagnostics Products
- Blood Gas/Electrolyte Testing Products
- HbA1c Testing Products
- Infectious Disease Testing Products
- Influenza Testing Products
- HIV Testing Products
- Hepatitis C Testing Products
- Influenza Testing Products
- Sexually Transmitted Disease Testing Products
- Syphilis Testing Products
- Human Papillomavirus (HPV) Testing Products
- Chlamydia Trachomatis Testing Products
- Herpes simplex virus (HSV) Testing Products
- Healthcare-associated Infection Testing Products
- Respiratory Infection Testing Products
- Tuberculosis (TB) Testing Products
- Clostridium Difficile Infection (CDI) Testing Products
- Tropical Disease Testing Products
- Other Infectious Disease Testing Products
- Coagulation Monitoring Products
- PT/INR Testing
- ACT/APTT
- Pregnancy & Fertility Testing Products
- Pregnancy Testing Products
- Fertility Testing Products
- Tumor/Cancer Marker Testing Products
- Urinalysis Testing Products
- Cholesterol Testing Products
- Hematology Testing Products
- Thyroid Stimulating Hormone (TSH) Testing Products
- Drugs-of-abuse Testing Products
- Fecal Occult Testing Products
- Other POC Products
Note* Other PoC products include multi-assay testing, disease-resistant bacteria testing, vitamin assay testing
Global Point of care diagnostics Market, by Platform
- Lateral Flow Assays
- Dipsticks
- Microfluidics
- Molecular Diagnostics
- Polymerase Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- Other Molecular Diagnostic Technologies
- Immunoassays
Global Point of care diagnostics market, by Mode of Purchase
- Prescription-based Products
- OTC Products
Global Point of care diagnostics market, by Sample
- Blood Sample
- Urine Sample
- Nasal and Oropharyngeal Swabs Sample
- Other Samples
Note*Other samples include saliva, sputum, stool, and urethral/genital swabs.
Global Point of care diagnostics market, by End User
- Clinical Laboratories
- Ambulatory Care Facilities and Physician Offices
- Pharmacies, retail clinics, & E-comm. Platforms
- Hospitals, Critical Care Centers, Urgent care centers
- Home Care & Self Testing
- Other End Users
Note*Other end users includes rehabilitation centers, sports centers, nursing homes, research institutes, and blood banks.
Global Point of care diagnostics market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLATAM
- Middle East & Africa
- GCC Countries
- Rest of Middle East & Africa
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Key Market Stakeholders:
- Point-of-care Diagnostic Product Manufacturers
- Distributors, Channel Partners, and Third-party Suppliers
- Clinical Laboratories, Reference Laboratories, and Contract Testing Laboratories
- Hospitals, Diagnostic Clinics, and Sports/Military Facilities
- Contract Manufacturing Organizations (CMOs)
- Contract Research Organizations (CROs)
- R&D Companies
- Business Research and Consulting Service Providers
- Medical Research Laboratories
- Academic Medical Centers, Universities, and Hospitals
Report Objectives:
- To define, describe, and forecast the point-of-care diagnostics market by Product, Platform, Mode of Purchase, Sample, End User, and Region
- To provide detailed information about major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the overall point-of-care and rapid diagnostics market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the market value of various segments and sub-segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players active in the point-of-care diagnostics market and comprehensively analyze their global revenue shares and core competencies
- To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the point-of-care diagnostics market
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