Point-of-Care Diagnostics Market

Global Point-of-Care Diagnostics Market Snapshot (2023 to 2033)

According to Future Market Insights research, during the projected period, the Global point-of-care diagnostics market is expected to grow at a CAGR of 6.8%. The market value is projected to increase from USD 38.7 Billion in 2023 to USD 74.8 Billion by 2033. The point-of-care diagnostics market was valued at USD 36.6 Billion at the end of 2022 and is anticipated to exhibit Y-o-Y growth of 5.8% in 2023.

Market Outlook:

Data Points	Market Insights
Market Value 2022	USD 36.6 Billion
Market Value 2023	USD 38.7 Billion
Market Value 2033	USD 74.8 Billion
CAGR 2023 to 2033	6.8%
Share of Top 5 Countries	56.5%
Key Players	The key players in the Global Point-of-Care Diagnostics Market Are F. Hoffmann-La Roche Ltd; Becton Dickinson & Company; Cepheid (Danaher);Siemens Healthineers; Abbott; Diasorin S.p.a.; Thermo Fisher Scientific Inc.; Qiagen; BIOMÉRIEUX; Hologic Inc.; Bio Rad Laboratories; Quidel Corporation; EKF Diagnostics; SEKISUI Diagnostics; DiaSys-Diagnostic Systems GmbH; InBios International; Inc.; Jiangsu Mole Bioscience Co.; Ltd.; ACON Laboratories; Inc.; Visby Medical; Inc.; UNIMA; INC.

Point-of-Care testing (POCT) refers to medical diagnostic testing that is performed near the patient, usually at the bedside or in a doctor's office, rather than in a central laboratory. The goal of POCT is to provide rapid and accurate diagnostic results that can guide clinical decision-making in real-time.

The world is seeing rapid advancements in a wide range of digital health technologies, including portable and ingestible devices; mobile health apps; artificial intelligence (AI); robots used in healthcare; 3D organ printing; block chain; telemedicine; machine learning; genome research; drones; augmented and virtual reality; and electronic records. However, the market is also shifting to digitalization, so the influx of digital health technologies is a prominent driver for point-of-care diagnostic market.

Accelerating the adoption of proven digital health technologies and advancing their embedding into routine care operations has the potential to revolutionize human health by boosting efficacy, driving costs down, and increasing access to and capacity for care delivery.

New product launches and approvals such as Lab-on-a-chip technology is one of the main drivers of POCT.

• For example, microbiological culture, polymerase chain reaction (PCR) and enzyme-linked immunosorbent assays (ELISA) can now be used at the Point-of-Care.
• According to FDA, in Mar 2020, Cepheid received emergency use authorization from the FDA for a rapid SARS-CoV-2 test as a result of adopting a rapid disease diagnostics method.

Overall, the increasing adoption of latest technologies and new product launches and approvals is likely to boost the market in the coming years.

Sales Analysis of Global Point-of-Care Diagnostics Market from 2012 to 2022 Vs Market Outlook for 2023 to 2033

Sales of the global point-of-care diagnostics market grew at a CAGR of 6.2% between 2012 to 2022. Global point-of-care diagnostics market contributes 40.0% revenue share to the global in-vitro diagnostics market valued at USD 91.2 Billion in 2022.

The increasing prevalence of Infectious diseases has resulted in higher uptake of POC diagnostic options such as Glucose and Hb1Ac testing. Because of their easy availability and rapid diagnosis, point-of-care diagnostics are typically the first form of testing recommended worldwide.

A significant advance has been made in the effort to identify SARS-CoV-2 coronavirus patients with the addition of saliva samples for the purpose of coronavirus identification. Governments concentrated on raising knowledge about COVID-19 testing during the COVID-19 epidemic to ensure an early identification of the illness. As a result of such initiatives, people become more knowledgeable of Point-of-Care testing for the diagnosis of coronavirus.

Creating awareness about diseases is an essential aspect of early detection and screening. If the public has a general understanding of diseases and symptoms, action plans can be better implemented. On the other hand, if there is a lack of awareness, it stops people from taking preventive measures or availing treatments.

Considering this, FMI expects the global market to grow at a CAGR of 6.8% through the forecasted years.

What are the Key Opportunities for Players in the Global Point-of-Care Diagnostics Market?

There is a lack of expansion of biotechnology & pharmaceutical Industries regarding point-of-care diagnostics. Biopharmaceuticals are one of modern science's most technically advanced and exquisite achievements.

Pharmaceutical companies are putting in a lot of effort to produce medications and lifesaving vaccines and biologicals for the entire world. When the pharmaceutical sector employs biotechnological advancements and advanced processes, the result is better and faster drug delivery. Biotechnology has aided the pharmaceutical sector in the correct manufacturing of vaccines and medications.

The pharmaceutical sector intends to establish products that support the treatment of various diseases. This may result in pharma companies manufacturing point-of-Care (POC) devices.

While greater investment for innovative products is required for the growth of the market, the healthcare infrastructure can have a substantial impact on market expansion. Most healthcare authorities have recently committed increased financing for the development and enhancement of their healthcare infrastructure as a result of the COVID-19 pandemic. The development of Point-of-Care diagnostics kits and their production need more investment.

Overall, healthcare infrastructure for POCT is complex and evolving, and it is important that companies stay abreast of regulatory changes and work closely with regulators to ensure compliance. However, regulatory initiatives that promote safe and effective pain management can create growth opportunities for the POCT market, especially for companies that offer innovative solutions.

Increased testing of point-of-care diagnosis in patients will pave the way for new technology and treatment options, ultimately leading more improvement in healthcare infrastructure and growth in number of manufacturing facilities.

Which Factors Could Possibly Restrain the Growth of Global Market?

Point-of-Care tests in some therapy areas have become more accurate (e.g., glucose testing). Overall, POC tests and rapid tests tend to remain less accurate compared to tests run in a laboratory. Accuracy is essential in medical testing, because an incorrect diagnosis can lead to inappropriate treatment, which can have serious consequences for patients. Inaccurate POC results can lead to false positives or false negatives, which can result in unnecessary treatment or missed diagnosis, respectively.

Inaccurate POCT results can also lead to mistrust in the technology, which can impact the adoption and utilization of POCT products. Healthcare providers may be hesitant to rely on POCT if they have concerns about its accuracy and reliability.

The cost of tests and a lack of trust in POC/ rapid testing are major concerns around the globe. The cost of point-of-care kits or devices is very high as compared to laboratory tests, which is compounded by the lower level of accuracy offered by the former.

Due to financial constraints, academic research laboratories are often unable to purchase expensive equipment. The overall cost of these instruments increases as a result of maintenance costs and other indirect expenses. Thus, the higher cost associated with the equipment and other factors causing unaffordability for the laboratories might hamper the market growth.

• Due to less funding from governments and private funders, POCT devices cost more than regular laboratory tests, which hampers the growth of the point-of-care testing market.

These factors are expected to hamper revenue growth of the global market over the forecast period.

Country-wise Insights

What Makes the USA the Dominating Country in the Global Market?

USA dominated the global market in 2022 and is further expected to register growth rate at CAGR of 6.8%.

Diagnostic techniques, such as rapid testing or POCT like COVID-19 testing, glucose testing, and allergy tests, etc., has seen a high rate of patient acceptance as a result of the high prevalence. Awareness campaigns and strategic conferences with focus on point-of-care technologies for healthcare sector, has been undertaken by various associations in USA

In May 2022, American Association for Clinical Chemistry, organized a Point-of-Care testing boot camp for POCT professionals and experts in the lab medicine community.
Why is Germany considered to be a Lucrative Market for Point-of-Care Diagnostics?

Germany dominated the European market with value share of 25.2% in 2022

The general physicians in primary care settings in Germany highly prefer POCTs as a useful diagnostic tool. There are numerous POCTs available in the German market. In the past few years, due to COVID-19 point-of-care diagnostics has been of tremendous importance as first line of defense for testing purpose.

The safe and successful use of point-of-care diagnostics in Germany is likely to influence other European countries to also opt for this method, ultimately resulting in market expansion.

What Makes China an Emerging Market for Global Point-of-Care Diagnostics?

China is projected to be the most attractive market in the east Asia point-of-care diagnostics and is expected to grow over a significant CAGR of 9.0% over the forecast period.

Point-of-care diagnostics market in China is expected to grow significantly in the coming years due to several factors.

One of the main factors driving the growth of the point-of-care diagnostics market in China is the increasing awareness of the condition among the general public and healthcare professionals. As more people become aware of the POC testing, they are more likely to adapt to the testing method, which is leading to increased demand for testing for Point-of-care diagnostics.

Another factor contributing to the growth of the Chinese market is the increasing availability of advanced medical technologies. China has made significant investments in its healthcare infrastructure, and many new hospitals and clinics have been built in recent years.

Category-wise Insights

Why COVID-19 Testing held the Dominant Position within the Global Market?

The COVID-19 testing diagnostic segment held the major chunk of about 15.1% in global market by the end of 2022. However, food sensitivity testing is the most lucrative segment over the forecast period due to increase in food allergic cases. Many of allergic reactions require rapid diagnosis that’s where point-of-care diagnostics plays a significant role.

Which Sample Type is Adopted the Most in Point-of-Care Diagnostics in 2022?

Nasal swabs segment accounted for revenue share of 28.4% in the global market at the end of 2022.

A nasopharyngeal swab, one type of nasal swab, is a test used to look for bacteria or viruses that cause respiratory infections. Your healthcare provider uses a swab to take a small sample of cells from your nasopharynx, the top part of your nose and throat.

Overall, nasal swabs offers a convenient sample type for point-of-care diagnostics for sample withdrawal, making it the largest sample type for this segment.

Which Product of Point-of-Care Diagnostics dominates the Global Market in 2022?

Handheld POC Monitoring Devices segment accounted for revenue share of 41.3% in the global market at the end of 2022.

Handheld POC monitoring devices can be used to monitor a wide range of medical conditions, such as diabetes, cardiovascular disease, and infectious diseases. For example, a handheld blood glucose meter can be used by patients with diabetes to monitor their blood sugar levels, while a handheld device that measures blood pressure can be used to monitor patients with hypertension.

Overall, Handheld POC Monitoring Devices offers a convenient Product type for Global Point-of-Care diagnostics treating products, making it the largest Product for this segment.

Why Hospitals held the Dominant Position within the Global Market?

Hospitals held the major chunk of about 27.7% in global market by the end of 2022.

Hospitals offers a convenient end user for POCT market conducting POC tests, making it the dominant end user for this segment. Hospitals segment is set to be highly lucrative in the upcoming years due to ease and access of POCT.

Competitive Landscape

Collaboration are the top strategy being adopted by leading players to expand their product portfolio, their customer base as well as maintain their foothold in the market.

For instance:

• The Elecsys Amyloid Plasma Panel (EAPP), a cutting-edge blood test from Roche Diagnostics that seeks to aid in the early identification of Alzheimer's disease, was developed in collaboration with Eli Lilly in March 2023.
• Roche and Pfizer collaborated in the United States in December 2022 to assist patients, who test positive with COVID-19, in navigating risks, symptoms, testing, and treatment choices.

Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the Point-of-care Diagnostics Market space, which are available in the full report

Scope of the Global Point-of-Care Diagnostics Industry Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2012 to 2022
Market Analysis	USD Million for Value
Key Regions Covered	North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa (MEA)
Key Countries Covered	USA, Canada, Brazil, Mexico, Argentina, Germany, UK, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, Türkiye, South Africa, and GCC Countries
Key Segments Covered	Test Type, Sample, Product, End User, Region
Key Companies Profiled	F. Hoffmann-La Roche Ltd; Becton Dickinson & Company; Cepheid (Danaher); Siemens Healthineers; Abbott; Diasorin S.p.a.; Thermo Fisher Scientific Inc.; Qiagen; BIOMÉRIEUX; Hologic Inc.; Bio Rad Laboratories; Quidel Corporation; EKF Diagnostics; SEKISUI Diagnostics; DiaSys-Diagnostic Systems GmbH; InBios International, Inc.; Jiangsu Mole Bioscience Co., Ltd.; ACON Laboratories, Inc.; Visby Medical, Inc.; UNIMA, INC.
Report Coverage	Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Key Segments Covered in Global Point-of-Care Diagnostics Industry Research

By Product:

• Dipstick
• Strips & Cards
• Cassettes
• Handheld POC Monitoring Devices

By Sample:

• Saliva
• Nasal Swabs
• Urine
• Blood
• Plasma
• Sweat
• Other Fluids

By Test Type:

• COVID-19 Testing
• Glucose Testing
• Hb1Ac Testing
• Coagulation Testing
• Pregnancy & Fertility Testing
• Allergy Tests
• Cholesterol & Lipids Tests
• Drug of Abuse (DOA) Testing
• Food Sensitivity Tests
• Metabolism Tests
• Vitamin D Tests
• Vitamins B Test
• Urinary Tract Infection (UTI) Tests
• Sexual Health Tests
• Water Testing Kits
• Alcohol Tests
• Others
• Infectious Disease
  • HIV POC Testing
  • Clostridium Difficile POC Testing
  • HBV POC Testing
  • Pneumonia or Streptococcus Associated Infections Testing
  • Respiratory Syncytial Virus (RSV) POC Testing
  • HPV POC
  • Influenza/Flu POC Testing
  • HCV POC Testing
  • MRSA POC Testing
  • TB and Drug-resistant TB POC Testing & HSV POC Testing

By End User:

• Hospitals
• Clinics
• Diagnostic Laboratories
• Home Care Settings
• Non-Government Organization
• Government & Federal Agencies
• Long Term Care Centers

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Frequently Asked Questions

What is the Growth Potential of the Market?

The growth potential of the market is 6.8% through 2033.

Which Countries are Estimated to Hold High Lucrativeness?

The United States and Germany are projected to emerge as lucrative markets.

Why do Hospitals Hold the Dominant Position in the Global Market?

Hospitals offer a convenient end user for the POCT market conducting POC tests, making it the dominant end user.

Which Product of Point-of-Care Diagnostics Dominated the Global Market in 2022?

Handheld POC Monitoring Devices accounted for a revenue share of 41.3% in 2022.

What Drives Sales in the Market?

Efforts to produce medications and lifesaving vaccines and biologicals for the entire world drive sales.