Point of Care Diagnostics Market is Expected to Reach $77.8 billion

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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Point of Care Diagnostics Market is Expected to Reach $77.8 billion | MarketsandMarkets™