Point Of Care Diagnostics Market To Reach $68.5 Billion By 2030

Point Of Care Diagnostics Market Growth & Trends

The global point of care diagnostics market size is expected to reach USD 68.5 billion by 2030, registering a CAGR of 6.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The introduction of advanced technologies such as Telehealth enabled POCT is expected to fuel market growth. Furthermore, the rise in the geriatric population and their need for accessible home-based care are anticipated to drive the market.

The adoption of POCT in emerging economies such as Africa and Latin America is anticipated to be a growth determinant of the global POCT market. The authorities are decentralizing the healthcare system and increasing their investments. For instance, the African regulations in Kenya allotted USD 346.7 to Managed Equipment Services project for the government's initiative toward modernizing facilities by procuring new equipment. The Ministry of Health selected GE Health and Philips to offer equipment across 47 countries. Similarly, Latin America decentralized IVD testing, which encourages private players to take strategic initiatives to meet the region’s existing demand for affordable POCT, especially in the infectious diseases segment.

Currently developed POC devices and tests are employed across different medical diagnostic applications, including cancer, pregnancy, and infectious diseases. Patients and physicians employ POC tests to screen conditions, confirm diagnoses, and design suitable therapeutic approaches based on patient health. However, the enthusiasm displayed by different consumers, such as doctors, patients, and caregivers, varies widely. This dynamic consumption pattern of POC diagnostic products is also attributed to economic scalability, financial interests, and lack of a universal healthcare structure.

In the light of COVID-19, the lockdown imposed across the globe has necessitated virtual visits and rapid diagnostic tests that assist patients to avoid hospital visits. Post-lockdown, the eHealth strategy is the emerging area of priority and investment such as an automated patient appointment system, lab result transmission system, healthcare workers' communication system, and medical products procurement system for the companies and governments. It is anticipated to continue to prioritize home-based healthcare delivery even after the pandemic, especially for patients with pre-existing conditions. For instance, NeuroMetrix, Inc. appointed a team to develop the business of DPNCheck, a POCT for peripheral neuropathies. The team is responsible for expanding the footprint in the healthcare market and focusing on the Medicare Advantage population. 

 Request a free sample copy or view report summary: Point Of Care Diagnostics Market Report

Point Of Care Diagnostics Market Report Highlights

• The Infectious disease led the market and accounted for 27.8% of global revenue share in 2023. Growth of the segment is attributed to increasing demand for rapid tests, which has encouraged industry players to deliver point of care solutions to decentralized regions and launch innovative solutions.

• Home sector is projected to witness the highest growth rate over the forecast period owing to the comfort level and cost-effectiveness of point of care diagnostics provided to patients at home. POCT devices are easy to use and do not, mandatorily, require any modern lab infrastructure for testing simpler target analytes in a patient's sample

• North America dominated the market and accounted for a 42.9% share in 2023 owing to the increasing demand for new technologies, a large pool of key players, and advanced healthcare infrastructure

• The Asia Pacific is anticipated to witness significant growth in the market owing to the rising prevalence of cancer, diabetes, cardiovascular diseases, and infectious diseases. The increasing population with limited disposable income is the potential target market for the key players in the region

Point Of Care Diagnostics Market Segmentation

Grand View Research has segmented the global point of care diagnostics market on the basis of on product, end use, and region:

Point Of Care Diagnostics Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Glucose Testing

• Hb1Ac Testing

• Coagulation Testing

• Fertility/Pregnancy

• Infectious Disease

  • HIV POC

  • Clostridium Difficile POC

  • HBV POC

  • Pneumonia or Streptococcus Associated Infections

  • Respiratory Syncytial Virus (RSV) POC

  • HPV POC

  • Influenza/Flu POC

  • HCV POC

  • MRSA POC

  • TB and Drug-resistant TB POC

  • HSV POC

  • COVID-19

  • Other Infectious Diseases

• Cardiac Markers

• Thyroid Stimulating Hormone

• Hematology

• Primary Care Systems

• Decentralized Clinical Chemistry

• Feces

• Lipid Testing

• Cancer Marker

• Blood Gas/Electrolytes

• Ambulatory Chemistry

• Drug of Abuse (DOA) Testing

• Autoimmune Diseases

• Urinalysis/Nephrology

Point Of Care Diagnostics End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Clinics

• Hospitals

• Home

• Assisted Living Healthcare Facilities

• Laboratory

Point Of Care Diagnostics Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Russia

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Point Of Care Diagnostics Market

• F. Hoffmann-La Roche Ltd.

• Qiagen

• Danaher Corporation

• Becton Dickinson (BD)

• bioMérieux

• Abbott

• Siemens Healthcare GmbH

• Werfen

• Nova Biomedical

• Trividia Health, Inc.

• QuidelOrtho Corporation

• Trinity Biotech

• Sekisui Diagnostics

• Orasure Technologies, Inc.

• Spectral Medical, Inc.

• EKF Diagnostics Holdings plc.

• Anbio Biotechnology Co., Ltd.

• AccuBioTech Co., Ltd

• ALPHA LABORATORIES.