Global Point of Care Diagnostics Market Analysis By Product Type (Glucose Testing Kits, Coagulation Testing Kits, Fertility/Pregnancy Testing Kits), and End-use (Clinics, Hospitals, Homes), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032.

Report Overview

The global point of care diagnostics market size is expected to be worth around USD 86.2 billion by 2032 from USD 40.9 billion in 2022, growing at a CAGR of 7.95% during the forecast period from 2022 to 2032.

Point of care, frequently known as bedside testing, introduces a demonstrative test that isn’t acted in a research facility. All this kind of testing is finished as near the patient as could be expected. Current clinical advances have made it practical to effectively and immediately survey a wide variety of well-being elements to make the screening, assessment, finding, treatment, and visualizations as productive as expected.

Abbott Laboratories is the leading player in the point of care diagnostics market. The expected research center strategy incorporates a logical, pre-analytical, and post-insightful stage. The reason behind point of care testing distributes everything except the scientific step, significantly bringing down the chance of expected errors.

The interest in point of care determination has expanded over the most recent decade as the interest in dependable and convenient testing has become both inside and outside the emergency clinic climate. Factors like the expanded accessibility of versatile, movable, and handheld devices have added to the shift of testing from emergency clinics to various clinical settings, for example, the home, work environment, crisis care, and, most exceptionally, comfort facilities.

Key Takeaways

• Market Growth: The global point of care diagnostics Market is expected to reach approximately USD 86.2 million by 2032, with a robust CAGR of 7.95% from USD 40.9 billion in 2022.
• Type Analysis: Infectious disease testing kits hold the largest market share, with a focus on ease of use and home testing.
• End-User Analysis: Clinics accounted for the largest share (around 35%) in 2021, with pharmacies and retail clinics being primary revenue sources.
• Constraints: Strict regulatory policies by the FDA can hinder market growth. Pre-analytical errors are a challenge in point of care diagnostic tests, limiting new product launches.
• Opportunities: Expanding healthcare industries in emerging economies. Increasing investment in healthcare infrastructure.
• Trends: Emphasis on technological advances, including AI and nanotechnology, in point of care diagnostics. Decentralization of healthcare centers for enhanced efficiency.
• Regional Analysis: North America leads the market share, with Europe following closely. Asia-Pacific is the fastest-growing region, driven by a rising geriatric population and the prevalence of chronic diseases.

Type Analysis

Based on type point of care, diagnostics is segmented into glucose testing kits, coagulation testing kits, fertility/pregnancy testing kits, infectious disease testing kits, hematology testing kits, and other product types. The infectious disease testing kits are the leading market share holder.

These test doesn’t need skilled experts and can be performed at home. The reason behind care testing is that it gives good chances to the local area drug stores to build their income by extending patient consideration administrations around the world.

The reason behind the care testing devices is an instrument for securing clinical data about patients worldwide.

In 2021, the glucose testing market had the second-highest revenue share. The increased prevalence of diabetes and the need for ongoing blood sugar monitoring are factors in the segment’s expansion.

The International Diabetes Federation has published estimates showing that there will be 592 million people with diabetes worldwide by 2035, up from 382 million in 2013.

End-User Analysis

Based on end-user, the worldwide place-of-care diagnostics market is segmented into clinics, hospitals, homes, and other end-users. In 2021, the clinic’s segment had the largest share around 35.0%.

The primary sources of this segment’s revenue are pharmacies and retail clinics. The primary drivers of the development of POC diagnostics applications incorporate rising inexpensiveness, extending medical care, and expanding the accessibility of novel diagnostic innovation.

Emergency clinics are the most considerable section of the share market because of the ascent famous of practical and highly effective point of care diagnostics items, the rising frequency of long-term care, and ongoing observing of persistent disease and concentrated contamination.

Besides, point of care tests entirely work on allowing irresistible problems, primarily in developing countries where acceptance of ideal clinical consideration is testing, and the healthcare infrastructure is old and extra.

Market Segmentation

Based on Type

• Glucose Testing Kits
• Coagulation Testing Kits
• Fertility/Pregnancy Testing Kits
• Infectious Disease Testing Kits
• Haematology Testing Kits
• Other Product Types

By End-use

• Clinics
• Hospitals
• Home
• Other End-uses

Drivers

Growing Incidence of Chronic and Infectious diseases across the world to promote demand for point of care diagnostics

The rising reception of self-testing in-home consideration settings drives the interest in over-the-contradiction of-care test packs and devices. Moreover, the increasing number of item approval by the FDA and new item dispatches by significant market players likewise support this section’s development.

Moreover, the rising reception of at-home pregnancy tests and blood glucose observing devices has increased interest in over-the-counter demonstrative units. Most diabetes patients overall like to check blood glucose levels all alone. Besides, the convenience presented by progressive OTC blood glucose observing devices drives their interest in the marketplace.

The accessibility of retrieving behind-care testing devices and the developing understanding of the significance of routine well-being observation is supposed to build interest for purpose in point of care diagnostics devices during the forecast period. Besides, the market is driven by the rising reception of preventive testing devices for blood glucose and circulatory strain.

Developing access to novel diagnostic technologies, further developing medical care, and accessibility are the key factors in extending point-of-care diagnostics.

Moreover, the section of new market players with forward-looking innovations adds to growing the place-of-care diagnostics market for self-testing applications is a major factor. An upraise in the frequency of irresistible sicknesses is one of the critical causes that is fuelling the general market development.

Restrains

Lack of accuracy of point of care diagnostic to limit adaption

The importance of severe administrative strategies by the FDA is a critical boundary that can limit the general market development. The pre-analytical errors are moderately constant in the area of point of care diagnostic tests. Hence such ideas restrict new product launches, therefore restraining market expansion.

The frequency of regular sicknesses, like diabetes and cancer disease, and the blood glucose monitoring segment is extending worldwide, for different reasons, for example, an expansion in the geriatric populace, undesirable food propensities, and environmental factors. The lack of accuracy in point of care testing is expected to confine the care diagnostics market growth worldwide during the forecast period.

The extension of general utilization of clinical devices is accounted for to decrease the number of medical service items qualified for pay, making it a provoking component for producers to help cost as compensation.

The significant expense related to the innovation utilized for infection clearing has limited the worldwide absence of exactness of fast reason behind care indicative test, diminishing the quantity of FDA approval for quick tests, confining the general market development.

This variable is supposed to represent a necessary test for developing the world point of care diagnostics market in the coming years.

Opportunity

Business expansion opportunities in developing countries

The point of care diagnostic market is also boosted due to growing healthcare industries in several emerging economies such as Brazil, India, South Africa, and China. The rapidly increasing geriatric population, rising per capita incomes, high patient volumes, and spiking awareness among individuals are driving the need for enhancing the healthcare industries in these nations.

Point of care (POC) tests for some illnesses are affordable, simple to utilize, strong, and generally utilized. Numerous point of care tests use flow immunoassay innovation, where the unexpected controller works naturally. For experts, point of care tests benefit emergency room staff and first responders. The interesting side of this market is described by the developing frequency of irresistible diseases, diabetes, cardiovascular diseases, chronic diseases, quickly expanding geriatric populace.

Therefore, the governments in these economies are increasing their investments aimed at improving healthcare facilities & infrastructure. Owing to the high number of applications of point of care diagnostic healthcare industries, the rising investment in this industry is expected to offer growth opportunities in the market.

Trends

Technological Advances to Expand Point of care testing Application

Significant market players have increased their attention on adjusting new advances, for example, artificial intelligence, to produce a proficient point of care diagnostics. The development of point of care diagnostic devices has been rising out of the lab in a chip stage wearable innovation and advancement in cell phone-based innovation.

Alongside it, a few players have zeroed in on improving Nano-molecule based on point of care diagnostics. Nanotechnology has facilitated healthcare providers to take advantage of the distinct features of nanoparticles in diagnosing and detecting various conditions.

Decentralization of medical care communities worldwide has exceptionally expanded the viability pace of the market and is probably going to make significant development later.

The US medical care frameworks have previously carried out this strategy, while numerous European nations generally consider distributing their medical services systems.

Regional Analysis

North America region leading significant shares in point of care Diagnostic Market

North America leads the overall shares in the point-of-care diagnostics market. Because of the expanded collection of inventive objects, Europe is anticipated to stand secure in the second-most elevated position on the world market in the projected period.

Moreover, expanded government research and development spending will probably help the local market development. The increasing number of immediate procedures of point of care analytic products, the developing assumptions by significant market players, the rising geriatric populace in nations like India and China, and the increasing predominance of ongoing sicknesses like diabetes, malignant growth, and cardiovascular illnesses drive the development in this regional market.

Treatment based on point-of-care diagnostics is most often utilized in medical services offices and recommended by medical care experts. Physically, the market is divided across four significant locales: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. However, Asia Pacific is the quickest developing region in the market.

The Market in India brought about high development potential for the associations involved with the turn of events and distribution of point-of-care devices.

Moreover, Point- of-care tests altogether work on the administration of irresistible problems, chiefly in arising countries where admittance to appropriate clinical consideration is testing, and the medical services system waste.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia

Key Players Analysis

Point of care diagnostics has seen impressive advancement in the previous years. In this section, reconciling molecular diagnostics in POC testing is one of the critical progressions. Regardless of how dominant parts have restricted the chance for new industries, a few organizations had the option to check their access to the market.

Based on the competitive landscape, several major players, such as Abbott, Hoffmann-La Roche Ltd, Danaher Corporation, Becton Dickinson, and Siemens Healthier, account for a significant market share. Continuous investment in research and development activities and a strong portfolio of products in the point-of-care diagnostic segments are some of the considerable factors supporting this market growth.

Other major players, including Bio Meraux SA and BD, focus on developing point-of-care diagnostic testing to develop new technologies in the market. Abbott and Quindell Corporation is the dominant players in this point-of-care diagnostic market.

Market Key Players

With the presence of many local and regional players, the market for point-of-care is fragmented. Market players are subject to intense competition from top market players, particularly those with strong brand recognition and high distribution networks. To stay on top of the market, companies have gained various expansion strategies such as partnerships and product launches.

Listed below are the most prominent Global Point-of-Care Diagnostic market key players:

• Hoffmann-La Roche Ltd
• Danaher
• BD
• Qiagen
• Abbott
• Siemens Healthcare AG
• Bio Meraux SA
• Zoetis, Inc.
• Instrumentation Laboratory
• Nova Biomedical
• Other Key Players

Key Industry Development

• October- 2021 – The US FDA supported Roche’s TelCentris was presented as an adjuvant treatment for individuals experiencing the beginning phases of cellular breakdown in the lungs. TelCentris is the primary existing malignant growth immunotherapy available for adjuvant treatment of NSCLC.
• March- 2020 – Abbott started the molecular point-Of-Care test for precisely distinguishing the Original COVID-19 that works in five minutes or less. This test will continue running on Abbot’s ID NOW stage, consequently giving fast outcomes in a few medical services offices like dire consideration facilities, doctor’s workplaces, and clinic crisis divisions.

Report Scope