Global point-of-care-diagnostics market is projected to expand at a CAGR of 11.5% by 2028

01-Mar-2022 | Zion Market Research

The global point of care diagnostics market was worth around USD 35.4 billion in 2021 and is estimated to grow to about USD 62.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 11.5 percent over the forecast period. The report analyzes the point of care diagnostics market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the point of care diagnostics market.

Medical diagnostic screening at or near the point of care, which is, at the time and location of patient treatment, is referred to as point-of-care diagnostic. This is in contrast to the old practice of testing being limited to the medical laboratory, which required transporting samples away from the subject of care and thereafter waiting hours or days for findings, during which time treatment had to be continued without the needed information. Point of care diagnostic is rapidly gathering attention owing to the increasing geriatric population and increasing need for real-time diagnostic. This does not only save time but improves treatment outcomes.

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The increasing need for optimized drug treatment to improve the overall treatment quality is expected to drive the global point of care diagnostics market. Patients are more aware of the effect of diagnostic test results on the overall treatment which is why test at the patient’s location is gaining more traction. This reduces frequencies of clinical visits, the requirement of samples, staff, equipment, and result in a short hospital stay. All such factors primarily contribute to the increased use of point of care diagnostics. Moreover, incidences of cardiac arrest, urinary tract infection, and pregnancy complications are rapidly increased due to lifestyle changes. In such medical conditions, rapid blood, urine, Hb, cardiac marker test is crucial which outsourced test labs cannot provide immediately. Such urgent test requirements are another factor that boosts the demand for point of care diagnostics. However, point of care diagnostics entails trained hands to ensure the quality of tests and the test cost are generally high compared to laboratory testing. Such factors can affect the growth of the market over the forecast period.

The global point of care diagnostics market is categorized based on kits product, platform, end-user, and region. Based on the kits product, the global market is bifurcated into infectious disease testing, glucose monitoring, pregnancy & fertility testing, cardiometabolic monitoring, hematology testing, urinalysis testing, coagulation monitoring, cholesterol test strips, tumor markers testing, fecal occult testing, and drugs of abuse testing. Among these, the glucose monitoring segment dominates the market with more than 25 percent of the share. By platform, the market is segregated as microfluidics and immunoassay. The end-user segment of the global market is divided into hospital, home care, and e-comm. In end-users, the home care segment is expected to register the fastest growth during the forecast period.

Browse the full Point Of Care Diagnostics Market By Kits Product (Glucose Monitoring, Infectious Disease Testing, Pregnancy And Fertility Testing, Hematology Testing, Cardiometabolic Monitoring, Urinalysis Testing, Coagulation Monitoring, Tumor Markers Testing, Cholesterol Test Strips, Drugs Of Abuse Testing, And Fecal Occult Testing), Platform (Microfluidics And Immunoassay), End-User (Hospital, E-Comm, And Home Care) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/point-of-care-diagnostics-market

North America is projected to maintain the dominant share in the global point of care diagnostics market. The United States is among the largest market for point care diagnostic, accounting for nearly 20 percent share in the global market. Excellent healthcare infrastructure, high spending capacities of the patients, well-established health insurance regulations, and major contributions by public & private hospitals are some of the factors fueling the market growth in the region. Canada is also operating a strong healthcare industry that progressively contributes to the adoption of point of care diagnostics. Asia Pacific is likely to offer excellent growth opportunities for the point of care diagnostics market. Increasing burden on diagnostic laboratories, snowballing patients number with chronic diseases, and growing demand for real-time & accurate diagnostic results are expected to propel the demand for point of care diagnostics in the emerging countries of Asia Pacific such as India and China.

Key players with a major share in the global point of care diagnostics market include Siemens Healthineers, Roche Diagnostics, Becton Dickinson and Company, Danaher Corporation, Abbott Laboratories, Chembio Diagnostics, and Quidel Diagnostics. Other prominent players operating in this market are Trinity Biotech, EKF Diagnostics, and Fluxergy.

On 23 September 2021, Celltrion, a specialist biologics firm, stated that the Department of Defense's Defense Logistics Agency (DLA) has granted Celltrion USA, Inc., a Celltrion affiliate, a purchase agreement for its DiaTrustTM COVID-19 Ag Rapid Test.

Global point of care diagnostics market is segmented as follows:

By Kits Product

  • Glucose monitoring kits
  • Infectious disease testing kits
  • Pregnancy and fertility testing kits
  • Hematology testing kits
  • Cardiometabolic monitoring kits
  • Urinalysis Testing Kits
  • Coagulation Monitoring Kits
  • Tumor Markers Testing Kits
  • Cholesterol Test Strips
  • Drugs of Abuse Testing Kits
  • Fecal Occult Testing Kits
  • Others (Calcium Assay Kits and Immunochemistry Kits)

By Platform

  • Microfluidics
  • Immunoassay

By End Users

  • Rural Hospital
  • Home Care
  • E-comm

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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