Point of Care Diagnostics Market Size 2024-2028 

The point of care (PoC) diagnostics market size is forecast to increase by USD 16.42 billion at a CAGR of 10.87% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. One major factor is the increasing demand for molecular diagnostics in various healthcare settings, including home care and self-testing. The aging population is another significant driver, as the need for frequent and timely disease monitoring increases. Additionally, there is a trend towards shifting from conventional testing methods to rapid diagnostics, which offer faster results and improved patient outcomes. However, challenges such as product recalls and medical reimbursement policies continue to pose obstacles to market growth. PoC diagnostics technologies, such as blood glucose monitoring devices, urinalysis testing kits, hematology testing kits, and cardiometabolic monitoring kits, are gaining popularity due to their convenience and accuracy. Key market trends include the integration of IoT and cloud technologies to enhance data analysis and reporting capabilities. To stay competitive, market players must focus on product innovation, regulatory compliance, and strategic partnerships.

What will be the Size of the Point of Care Diagnostics Market During the Forecast Period?

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The market is experiencing significant growth due to the increasing demand for portable and convenient diagnostic solutions. PoC diagnostics refer to medical tests performed near or at the site of patient care, reducing the need for lengthy laboratory tests and enabling timely and accurate diagnosis. Mobile diagnostic devices and healthcare analytics are gaining popularity in the healthcare sector, especially in developing countries, due to their affordability and ease of use. These devices offer various tests, including those for genetic disorders such as cystic fibrosis and sickle cell anemia, congenital heart defects, and birth defects.

Prenatal testing is another application of PoC diagnostics that has gained traction, allowing expectant mothers to receive critical information about their unborn child's health in a timely and convenient manner. The aging population is another significant factor driving the growth of the PoC diagnostics market. With an increasing number of elderly individuals, there is a growing need for portable and convenient diagnostic solutions for chronic conditions such as diabetes, HIV, tuberculosis, and hepatitis. These conditions require regular monitoring, and PoC diagnostics offer a cost-effective and efficient solution for healthcare providers and patients alike. Organizations like UNITAID and the World Hepatitis Alliance are working towards increasing access to PoC diagnostics for infectious diseases, especially in low- and middle-income countries.

These initiatives aim to improve disease management and reduce the burden on healthcare systems. Healthcare decentralization is another trend that is fueling the growth of the PoC diagnostics market. With the shift towards decentralized care, PoC diagnostics are becoming an essential tool for healthcare professionals in remote areas, enabling them to provide accurate and timely diagnosis to their patients. The PoC diagnostics market also includes various types of diagnostic devices such as glucose monitoring kits, urinalysis testing kits, hematology testing kits, cardiometabolic monitoring kits, and lab-on-a-chip platforms. These devices offer quick and accurate results, making them an essential tool for healthcare providers in various settings.

Wearable technology is another emerging trend in the PoC diagnostics market. These devices offer continuous monitoring of various health parameters, enabling early detection and intervention of health conditions. They are particularly useful for individuals with chronic conditions, allowing them to manage their health more effectively. In conclusion, the point of care diagnostics market is experiencing significant growth due to the increasing demand for portable and convenient diagnostic solutions. Applications include genetic disorders, prenatal testing, infectious diseases, chronic conditions, and healthcare decentralization. The market includes various types of diagnostic devices, such as glucose monitoring kits, urinalysis testing kits, hematology testing kits, cardiometabolic monitoring kits, and lab-on-a-chip platforms.

With the increasing focus on improving healthcare access and affordability, the PoC diagnostics market is expected to continue its growth trajectory.

Point of Care Diagnostics Market Segmentation

The PoC diagnostics market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Hematology diagnostics
  • Infectious disease diagnostics
  • Rapid cardiovascular diagnostics
  • Rapid coagulation diagnostics
  • Others
• End-user
  • Hospitals and clinics
  • Homecare settings
  • Clinical diagnostic laboratories
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
  • Rest of World (ROW)

By Product Insights

The hematology diagnostics segment is estimated to witness significant growth during the forecast period.The market encompasses various applications, including the identification of genetic disorders, congenital heart defects, birth defects, prenatal testing, infectious diseases, and conditions related to aging, obesity, and diabetes. Unitaid, an international organization, plays a crucial role in increasing access to affordable diagnostics for neglected diseases. In North America, the prevalence of genetic disorders such as thalassemia and anemia, as well as conditions like hemophilia, leukemia, and diabetes, necessitates the use of advanced medical diagnostics. Hematology diagnostic products, which include those for hematology, blood glucose, and HbA1c testing, are in high demand due to the significant impact these diseases have on public health.

Initiatives by governments, such as the National Health Service (NHS) sickle cell and thalassemia screening program in the UK, aim to increase awareness and provide effective treatment through blood transfusions and chelation therapy. The rising number of cases and the need for early detection and intervention drive the demand for these diagnostic tools.

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The hematology diagnostics segment accounted for USD 4.12 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 38% to the growth of the global point of care diagnostics market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the increasing prevalence of chronic conditions like diabetes and the rise in infectious diseases such as COVID-19 have fueled the expansion of the market. According to the CDC, approximately 34.2 million Americans have diabetes. POC diagnostics play a crucial role in monitoring their blood glucose levels both in hospitals and at home. Similarly, POC diagnostics are essential for infectious disease testing, including tuberculosis, HIV-AIDS, malaria, and coagulation monitoring. Advanced technologies, such as glucose monitoring and cardiometabolic monitoring, are gaining popularity due to their convenience and accuracy. Pregnancy and fertility testing are other significant applications of POC diagnostics.

Major companies in the North American POC diagnostics market include leading healthcare companies, contributing to its growth.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Growing geriatric population is the key driver of PoC diagnostics market growth. The aging population worldwide is experiencing a significant increase due to sedentary lifestyles and unhealthy diets, leading to various health issues. Geriatric individuals are more susceptible to diseases such as cancer, lung disease, and stroke. According to recent statistics, countries like Japan, Italy, Germany, France, and Sweden have a geriatric population of approximately 30%, 24%, 22%, 22%, and 20%, respectively. As the immune system weakens with age, the risk of infections also increases. To address these health concerns, the market has gained momentum. POC diagnostics include tests for hematology, cancer marker detection, fecal occult testing, urinalysis, and cholesterol testing.

Technologies such as lateral flow assays, immunoassays, microfluidics, and dipsticks are utilized in POC diagnostics. These tests offer quick and accurate results, enabling early disease detection and effective treatment. POC diagnostics are essential for geriatric care as they allow for timely and convenient testing, reducing the need for hospital visits. The market for POC diagnostics is expected to grow due to the increasing geriatric population, the need for early disease detection, and the convenience and portability of these tests. POC diagnostics play a crucial role in improving healthcare outcomes for the aging population.

Market Trends

Shift from conventional testing methods to rapid diagnostics is the upcoming trend in the point of care diagnosticsmarket. Point-of-care (POC) diagnostics have gained significant attention in the healthcare industry due to their ability to provide quick and accurate results, often within two hours. These diagnostic tests, also known as rapid diagnostic tests (RDTs), are particularly useful for primary care and emergency medical settings where time is of the essence. Malaria, a global health concern, poses a diagnostic challenge in many countries, with a growing need for tests capable of detecting the disease in asymptomatic individuals with low infection levels. The World Hepatitis Alliance and various research institutions, such as Creative Biolabs, are actively exploring advanced technologies like lab-on-a-chip platforms, wearable technology, and smartphone-based technology to enhance POC diagnostics.

Nanotechnology is another promising area of research, offering potential for miniaturized, portable, and cost-effective diagnostic devices. Chronic diseases, such as diabetes, also necessitate frequent monitoring and early detection. The IDF Diabetes Atlas reports that approximately 537 million adults worldwide have diabetes, making the need for accessible and efficient diagnostic tools increasingly important. POC diagnostics can help meet this demand, providing real-time results and enabling timely intervention. Respiratory syncytial virus (RSV) is another disease that can benefit from POC diagnostics. RSV is a leading cause of lower respiratory tract infections, particularly in infants and young children. Rapid and accurate diagnosis is crucial for effective treatment and prevention of complications.

In summary, POC diagnostics have become essential in addressing various healthcare challenges, from malaria detection in asymptomatic populations to the management of chronic diseases like diabetes. Technological advancements, such as lab-on-a-chip platforms, wearable technology, smartphone-based technology, and nanotechnology, are driving innovation in this field, offering potential for more accurate, accessible, and cost-effective diagnostic solutions.

Market Challenge

Product recalls is a key challenge affecting PoC diagnostics market growth. Product recalls can significantly impact a company's financial performance and future growth prospects. These events can negatively affect consumer trust and the company's brand reputation, potentially leading to decreased sales during the forecast period. Recalls not only affect the revenue of manufacturers but also disrupt their operations for an extended period as a thorough investigation is required to determine the root cause of the issue. The Food and Drug Administration (FDA) recalls products that pose a health risk to users or result in patient injuries or fatalities. Instances of product recalls have been reported in the market, which includes molecular diagnostics, self-testing, and various types of monitoring kits such as glucose, urinalysis, hematology, and cardiometabolic.

These kits are widely used in home care settings and the healthcare system, and their reliability is crucial for accurate medical results and patient safety. Medical reimbursement policies and regulatory compliance are essential factors influencing the POC diagnostics market's growth. Ensuring product quality and safety is a top priority for manufacturers to maintain consumer trust and adhere to regulatory requirements.

Customer Landscape

The point of care diagnostics market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the PoC diagnostics market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Abbott Laboratories - The company provides Point of Care diagnostic solutions, including the D NOW platform for at-home Covid-19 testing and the Afinion 2 analyzer. These advanced tools enable quick and accurate diagnostic results, enhancing healthcare accessibility and efficiency. The D NOW platform offers convenience through in-home testing, while the Afinion 2 analyzer delivers lab-quality results in minutes at the point of care. These innovative solutions contribute significantly to the ongoing efforts to improve healthcare delivery and patient outcomes.

The point of care diagnostics market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• altona Diagnostics GmbH
• Becton Dickinson and Co.
• bioMerieux SA
• Chembio Diagnostics Inc.
• Danaher Corp.
• DiaSorin SpA
• EKF Diagnostics Holdings Plc
• F. Hoffmann La Roche Ltd.
• Johnson and Johnson Services Inc.
• Meridian Bioscience Inc.
• Nova Biomedical Corp.
• Perkin Elmer Inc.
• QIAGEN NV
• Sekisui Chemical Co. Ltd.
• Siemens AG
• Sinocare Inc.
• Trinity Biotech Plc
• Trivida Health Inc.
• Zoetis Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The PoC diagnostics market is witnessing significant growth due to the increasing prevalence of various health conditions such as genetic disorders, congenital heart defects, birth defects, and chronic diseases like diabetes, obesity, and cancer. Unitaid, a global health agency, plays a crucial role in facilitating access to affordable diagnostics for diseases like tuberculosis, HIV-AIDS, and malaria. PoC diagnostics are increasingly being adopted in clinics, hospitals, home care settings, and decentralized healthcare facilities for real-time testing and diagnosis of conditions. The market is witnessing the introduction of novel products, including lateral flow assays, immunoassays, microfluidics, dipsticks, and molecular diagnostics, which offer advantages such as rapid results, ease of use, and portability.

Conditions such as influenza, HIV, and tuberculosis require frequent testing, driving the demand for PoC diagnostics. Regulatory approval processes and reimbursement cuts pose challenges to market growth. Huwel Lifesciences and Werfen are key players in the market, offering a range of diagnostics devices for infectious disease testing, coagulation monitoring, pregnancy & fertility testing, hematology testing, cancer marker testing, fecal occult testing, and urinalysis testing. The healthcare system's shift towards medical reimbursement and the increasing prevalence of chronic diseases like diabetes, cardiovascular diseases, and neurological disorders are also fueling market growth. Innovations in technology, such as lab-on-a-chip platforms, wearable technology, and smartphone-based technology, are expected to further revolutionize the PoC diagnostics market. Major players are leveraging nanotechnology and other advanced technologies to develop new PoC diagnostics for various conditions.

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What are the Key Data Covered in this Point of Care Diagnostics Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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