Overview and Scope
Point of care (POC) diagnostics refers to medical testing that can be performed at or near the site of patient care. It is used to provide fast and accurate results that can be used to guide immediate patient care decisions.
Sizing and Forecast
The point of care diagnostics market size has grown strongly in recent years. It will grow from $44.19 billion in 2023 to $47.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rise of chronic diseases, diagnostic accuracy improvements, shift in healthcare setting, healthcare cost pressures, consumer demand for convenience..
The point of care diagnostics market size is expected to see strong growth in the next few years. It will grow to $66.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to remote healthcare needs, market expansion in emerging economies, personalized healthcare, focus on preventive healthcare, investment in research & development.. Major trends in the forecast period include rise of personalized medicine, technological miniaturization, telemedicine integration, emergence of novel biomarkers, consumer empowerment..
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Segmentation & Regional Insights
The point of care diagnostics market covered in this report is segmented –
1) By Product: Glucose Monitoring Kits, Infectious Diseases Testing Kits, Pregnancy And Fertility Testing Kits, Hematology Testing Kits, Cardiometabolic Monitoring Kits, Urinalysis Testing Kits, Cholesterol Test Strips, Other Products
2) By Mode Of Prescription: Prescription Based Devices, OTC (Over-The-Counter) Based Devices
3) By End User: Professional Diagnostic Centers, Research Laboratories, Home Care, Other End-Users
North America was the largest region in the point of care diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the point of care diagnostics market report during the forecast period. The regions covered in the point of care diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of chronic and infectious diseases is driving the point of care (POC) diagnostics market forward. Chronic diseases are diseases that progress slowly over time and usually last 3 months or longer. Point-of-care diagnostics is very useful in the easy management of chronic diseases and is widely used because of the convenience factor. For instance, in 2021, according to the International Diabetes Foundation, a Belgium-based umbrella organization of more than 230 national diabetes associations, there were approximately 537 million adult diabetic patients in the world. The number is expected to reach 643 million in 2030 and 783 million in 2045. Therefore, the increasing prevalence of chronic diseases is driving the point of care (POC) diagnostics market.
Key Industry Players
Major companies operating in the point of care diagnostics market report are Abbott Laboratories, Siemens Healthineers AG, Beckman Coulter Inc., Becton, Dickinson and Company, Instrumentation Laboratory Company, Nova Biomedical Corporation, Qiagen NV, F. Hoffmann-La Roche Ltd., Biomeriux SA, Quidel Corporation, Orasure Technologies Inc., Johnson and Johnson, Zoetis Inc., Thermo Fisher Scientific Inc., Sysmex corporation, Sinocare Inc., Arkray Inc., Danaher Corporation, Chembio Diagnostics Inc., EKF Diagnostics Holdings PLC, Trinity Biotech PLC, Fluxergy Inc., LumiraDx UK Ltd., Meridian Bioscience Inc., Nipro Europe Group Companies, AccuBioTech Co. Ltd., Atlas Genetics Ltd., Atlas Link Biotech Co. Ltd., Biomeme Inc., Cepheid Inc., Church & Dwight Co. Inc., Bioptix Inc. .
The point of care diagnostics market report table of contents includes:
1. Executive Summary
2. Point of Care Diagnostics Market Characteristics
3. Point of Care Diagnostics Market Trends And Strategies
4. Point of Care Diagnostics Market – Macro Economic Scenario
5. Global Point of Care Diagnostics Market Size and Growth
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31. Global Point of Care Diagnostics Market Competitive Benchmarking
32. Global Point of Care Diagnostics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Point of Care Diagnostics Market
34. Point of Care Diagnostics Market Future Outlook and Potential Analysis
35. Appendix
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