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The US point-of-care testing (POCT) market size is estimated to grow by USD 8.51 billion at a CAGR of 8.65% between 2022 and 2027.
Portable and low-cost self-testing devices have been gaining attention in the US POCT market owing to the rising awareness and demand for convenient and accessible healthcare solutions. These devices allow individuals to monitor their health condition in a way that does not require any expensive laboratory testing or healthcare professional intervention. With the introduction of portable and low-cost glucose meters, patients are now able to test their blood sugar levels easily and quickly at home or on the go. This is also going to improve the quality and convenience of life for people with diabetes, as well as reduce their burden on the healthcare system. A home pregnancy test kit is an example of a convenient, low-cost self-testing device. Furthermore, advancements in technology have led to the development of portable and low-cost self-testing devices for various health parameters, such as cholesterol levels, blood pressure, and even sexually transmitted infections. These devices shall use state of innovative sensors and user-friendly interfaces to produce accurate and reliable results within a few minutes. Such factors will increase the market growth during the forecast period.
Technavio has segmented the market into Type and Application segments.
It also includes an in-depth analysis of drivers, trends, and challenges.
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OTC testing
The market share growth by the OTC testing segment will be significant during the forecast period. Over-the-counter (OTC) testing refers to medical tests that can be bought directly by patients without a prescription from a healthcare professional. These tests are easy to perform by individuals at home and provide a comfortable and quick result.
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The OTC testing segment was valued at USD 7.59 billion in 2017. OTC testing has gained popularity in recent years due to its accessibility, affordability, and convenience. Traditionally, for a pregnancy test to be performed, women must have visited a healthcare provider or clinic. OTC pregnancy tests have revolutionized the way women confirm their pregnancies, offering a convenient and private option for early detection. Thus, it is expected to increase the demand for OTC testing, which will propel the growth of the US POCT market during the forecast period.
Prescription-based testing
The prescription-based testing method requires a prescription from a healthcare professional to perform specific tests at a point of care (POC) location, such as a clinic or doctor's office. In order to establish an accurate diagnosis, monitor treatment efficacy, and provide good appropriate care, the results obtained by these tests are useful for healthcare providers. One example of prescription-based testing in the US point-of-care testing (POCT) market is the use of rapid strep tests in primary care settings. There are several advantages to be obtained by using prescription-based testing on the US point-of-care testing market, such as it allows healthcare providers to have real-time access to accurate and relevant diagnostic information, enabling prompt decision-making and timely initiation of treatment. It also fosters a collective relationship between patients and healthcare providers, as patients receive specific instructions and support regarding the tests they need to undergo. Thus, such factors are expected to increase the demand for prescription-based testing, which will propel the growth of the US POCT market during the forecast period.
Blood glucose testing
The blood glucose testing segment has witnessed substantial growth in recent years, driven by factors such as the rising prevalence of diabetes, increasing awareness about the importance of regular glucose monitoring, and the development of advanced testing devices. The use of smaller and more portable blood glucose monitoring systems is on the trend. This makes it convenient for people with diabetes to bring their blood glucose test instruments, enabling them to monitor continuously while on the move. Furthermore, several companies are investing in the development of continuous glucose monitoring (CGM) systems that can provide real-time glucose data throughout the day. The CGM systems make it easier and effortless to monitor glucose in individuals, reducing the need for repeated finger pricks. Thus, such factors are expected to increase the demand for blood glucose testing, which will propel the growth of the US point-of-care testing market during the forecast period.
Infectious disease testing
With advancements in technology and increased awareness about the importance of early diagnosis, the demand for rapid and accurate infectious disease testing has grown significantly. The demand for rapid and reliable test techniques to detect and identify different strains of the virus is strong during flu season. One such rapid testing method is the use of immunoassays. STIs such as chlamydia, gonorrhea, and human immunodeficiency virus (HIV) are highly prevalent in the US, and early detection is crucial for effective treatment and prevention of further transmission. In order to provide a quick and accurate result, rapid STI diagnostic tests have been developed. These tests are highly sensitive and very specific, which means they can give results in a few hours that will enable rapid treatment and contact tracing to prevent the spread of infection. The availability of rapid and accurate testing methods has revolutionized the way healthcare professionals diagnose and manage infectious diseases. Thus, such factors are expected to increase the demand for infectious diseases testing, which will propel the growth of the US POCT market during the forecast period.
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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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories - The company offers POCT such as Alinity I System.
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.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The rising number of CLIA-waived POCTs is driving growth in the market. The US has observed a significant rise in the number of Clinical Laboratory Improvement Amendments (CLIA)-waived POCT over recent years. This trend has been driven by various factors, including advancements in technology, the need for faster and more accessible diagnostic tools, and changes in healthcare regulations. The tests can be performed by non-laboratory personnel and do not require stringent quality control measures. These provide rapid results, enabling healthcare professionals to make immediate treatment decisions. Laboratory professionals aren't required to carry out these tests and there is no need for strict quality control measures. These are fast results and allow healthcare professionals to make effective treatment decisions at the same time.
However, the increasing availability of CLIA-waived POCT has improved access to diagnostic services in underserved areas. These tests are a useful and effective alternative for individuals residing in remote or isolated communities where access to laboratory facilities may be restricted. Patients can receive immediate test results and appropriate treatment without the need for lengthy travel or delays. Thus, the above-mentioned factors are expected to increase the demand for CLIA-waived POCT, which will propel the growth of the market focus during the forecast period.
The rise in the adoption of personalized medicine is a key trend in the US POCT market. There are several factors that have led to the adoption of personalized medicines in POCT testing. First, advances in genomics and molecular diagnostics have made it possible to identify specific genetic markers or mutations that are associated with certain diseases. Healthcare providers can predict patient susceptibility to disease, choose the best effective treatment options and personalize dosing through an analysis of a patient's genetics.
Moreover, the rise of telemedicine and remote patient monitoring has created new opportunities for personalized medicine in the US point-of-care testing (POCT) market. With the help of modern technology, healthcare providers can remotely monitor patients' vital signs, collect health data, and analyze it in real time. In order to ensure better patient care, healthcare professionals are able to prevent the administration of unnecessary treatments, adverse reactions, and hospital stay when using Genetic Tests as well as individualized treatment plans. This not only saves money for patients and insurance companies but also improves the overall efficiency of healthcare systems. Thus, these factors are expected to fuel the growth of the market in focus during the forecast period.
The lack of alignment with definitive central lab methods is a major challenge in the US POCT market. The challenges for healthcare providers and patients are created by the unified vision and principles which may lead to mismatches in test results or might have an impact on care. In central labs, blood glucose levels are typically measured using high-performance liquid chromatography (HPLC) or enzymatic methods. These methods are highly accurate and have been standardized to ensure consistent and reliable results.
However, in the POCT, different devices and methods are used to measure blood glucose levels, leading to variations in results. And, the blood glucose levels obtained from POCT devices may not align with the results obtained from central lab methods. In patients with diabetes, such a lack of alignment in the measurement of blood glucose may have significant implications. Inaccurate blood glucose measurements can lead to incorrect insulin dosing, which can have serious health consequences. Thus, such factors are expected to hamper the growth of the market in focus during the forecast period.
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The market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
US POCT Market Customer Landscape
The US POST market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
POCT Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.65% |
Market growth 2023-2027 |
USD 8.5 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.19 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, ACON Laboratories Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Boditech Med Inc., Cardinal Health Inc., Chembio Diagnostics Inc., Danaher Corp., ELITechGroup SAS, F. Hoffmann La Roche Ltd., Heska Corp., iAssay Inc., Johnson and Johnson Services Inc., Nova Biomedical Corp., OraSure Technologies Inc., Phamatech Inc., Princeton BioMeditech Corp., QuidelOrtho Corp., Sekisui Chemical Co. Ltd., Trivida Health Inc., Zoetis Inc., and Quest Diagnostics Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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