Global Point of Care Diagnostics - POCD
Market Report
2024
Point of Care diagnostics market was valued at USD 39.9 billion in 2022 and is projected to reach USD 59.4 billion by 2030, registering a CAGR of 5.1% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global Point of Care diagnostics market was valued at USD 39.9 billion in 2022 and is projected to reach USD 59.4 billion by 2030, registering a CAGR of 5.1% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Point of Care Diagnostics - POCD Market Sales Revenue 2022 | $ 39.9 |
Global Point of Care Diagnostics - POCD Market Sales Revenue 2030 | $ 59.4 |
Global Point of Care Diagnostics - POCD Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.1% |
Market Split by Product |
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Market Split by Offering |
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Market Split by Platform |
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Market Split by Sample Type |
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Market Split by End Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Point of Care Diagnostics - POCD Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Point-of-care testing (POCT) is a type of testing in which the analysis is carried out at the location where medical care is given to the patient or close by. Additional terms that have been used as alternatives include near patient testing (NPT), bedside testing, physician’s office testing (POL), off site testing, alternative site testing, etc. Point-of-care uses analytical tools to asses the results. The analytical devices include blood gas and critical care analysers. POCT is considered a preferable way rather than traditional testing. This testing has evolved around the globe due to its feasibility, performance and efficiency. It has a perceived ease of use as it is a near patient testing i.e., the patient can access the service any where without any prerequisite of laboratory. There are wide range of products that collect blood sample from the patients home and then taken to laboratory for the further testing.
The growing number of patients and the high disease rate has boosted the demand for point of care testing. The diseases like HIV, Covid-19 and other similar diseases have increased and thus the patients need faster response and adequate results without any complex procedures. For instance, the country with the highest reported use of POCT was France with 55 diseases, followed by Norway with 44 diseases. The demand for point of care testing is increasing at a moderate rate due to the direct relation with the chronic diseases.
The evolution and enhancement of a decentralised healthcare system has increased. Many hospitals are shifting from traditional healthcare to an innovative healthcare system. The diagnostics services are now not only provided at a particular hospital but are now deviated from hospitals to physician’s workplace, pharmacies and also done at patients home for a better feasibility. This decentralisation has been prevailing in boosting the demand for point of care testing market.
The technological advancements like the introduction of Lab-on-chip are the key driver of the point-of-care testing market. These technologies enable the results of infectious diseases at a faster rate and provide the diagnosis easier. The two main technologies used to determine a variety of characteristics, including cardiac indicators and infectious microorganisms, are glucose biosensor strips and lateral flow strips utilising immobilised antibodies. For instance, according to hypotheses, POCT is rising by at least 10–12% annually, with certain regions experiencing annual increases of 30% due to the advancement in technology.
The main concern in point of care testing is the quality control and quality assurance. The quality assurance is carried on by a complex procedure which cannot be cost effective. There cannot be any responsible person for quality assurance in this case of testing. The potential lack of reliability can be attributed to a variety of factors, including personnel variation, testing procedures and applications and the methodology’s perceived ease of use.
Point-of-care testing is more expensive as compared to the traditional diagnostics testing. The unit cost of point of care testing is more than the testing conducted in a traditional way or in a laboratory. For instance, POCT prices were from 1.1 to 4.6 times higher than central laboratory stat costs. In comparison to the central laboratory, the additional costs rise when POCT is utilised more frequently.
The world is coming closer through the use of cutting-edge technologies and innovations. The use of small and portable devices has increased due to high prevalence of feasibility and portability. The testing can be easily done anywhere without any location barrier. The increase of miniaturised technologies, the application of videoconferencing for remote monitoring, and the creation of less invasive and more continuous testing has been a trend for point-of-care testing. POCT enables detection of illnesses at an early stage by offering useful information at the time and location of care.
POCT devices are progressively being developed with the ability to connect and integrate with data management platforms, electronic health records, and healthcare information systems. Real-time test results transfer, smooth data processing, and improved patient care and monitoring are all made possible by this connectivity. According to the National Coordinator for Health Information Technology (ONC), in the United States, 78% of office-based doctors had HER technology certification as of 2021.
The pandemic had increased the demand for the Point of care diagnostics market. After the Covid-19 companies started to introduce new technologies and product for the rapid tests and quicker responses. A few months after the initial Covid-19 RT-PCR tests were implemented, POCT devices were introduced to the market to solve these problems. Covid-19 POC diagnostics, like the Abbott ID Now, which uses isothermal nucleic acid amplification, can offer results in 15 minutes or less despite having a lower capacity and enabling real-time diagnosis. For instance, the reverse transcription polymerase chain reaction (RT-PCR) test, which can accurately identify minute amounts of viral nucleic acid (SARS-CoV-2 RNA) in clinical specimens, is currently the gold standard for the diagnosis of acute SARS-CoV-2 infection. Thus, it had a positive impact on the point of care diagnostics market.
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Many companies are involved in the designing of the new and innovative portable devices. For instance, in 2021, Siemens Healthcare launched product named Atellica VTLi Patient-Side Immunoassay Analyzer which will provide test results in 8 minutes using a patient's fingerstick blood sample.
Abbott introduces a molecular point of care test to predict the results faster. The U.S Food and Drug Administration has issued a notification regarding the faster diagnosis by molecular point of care test for the detection of the corona virus. The new launch assesses the positive results in 5 minutes whereas assess the negative results in just 13 minutes. The ID NOW platform uses molecular technology, which is highly esteemed by doctors and the scientific community for its high level of accuracy. It is compact, light, portable, and uses molecular analysis. The most frequently used molecular point-of-care testing tool in the United States is ID NOW.
Top Companies Market Share in Point of Care Diagnostics - POCD Industry: (In no particular order of Rank)
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North America accounted for the largest market share in the year 2022 due to the increase in the number of diseases and illness. North America has good infrastructure facilities, strong healthcare facilities and continuous expansion and innovation. There is use of cutting-edge point-of-care molecular diagnostics to identify diseases and infections, as well as an increase in research activity in this region. Growing numbers of people in the region are suffering from chronic diseases, and there are more procedures performed annually. North America has high healthcare expenditure particularly in United states. North America also has favourable regulatory environment with lesser complex procedures. This results in launch of new point of care testing products into the market and also assures the quality and standard of the product.
The current report Scope analyzes Point of Care Diagnostics - POCD Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Point of Care Diagnostics - POCD Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Point of Care Diagnostics - POCD Industry growth. Point of Care Diagnostics - POCD market has been segmented with the help of its Product, Offering Platform, and others. Point of Care Diagnostics - POCD market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The infectious diseases segment held the largest market share due to the growing chronic disease rate. This product can detect the virus or the disease in the minimal amount of time resulting in faster results. This provides the tests faster and easier. The other segments like Cardiac Markers, Cancer Marker, Lipid Testing has also observed a significant growth. Many companies are expanding their portfolio through this market. For instance, Cipla company launches a product named Cippoint, which offers different products which includes cardiac markers, infectious diseases, fertility, thyroid function, inflammation, metabolic markers, and coagulation markers.
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The growing use of AI and technologies, Software and services segment have held the largest market share. The adoption of MedTech and other integrated technologies have gained access to the growth in software services provided by the healthcare system.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Point of Care Diagnostics - POCD market report 2024 Edition by contacting our team.
The market is fuelled by Pharmacy and Retail Clinic sector as regulatory agencies are increasing the validation/verification requirements for POC devices because of POCT utilisation rises in hospitals. The primary causes of the expansion of POC diagnostics applications include rising affordability, expanding healthcare coverage, and increasing availability to novel diagnostic technology.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Point of Care Diagnostics - POCD Market is witnessing significant growth in the near future.
In 2023, the Glucose Testing segment accounted for noticeable share of global Point of Care Diagnostics - POCD Market and is projected to experience significant growth in the near future.
The Consumables segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Danaher; Qiagen; Abbott; Siemens Healthcare AG; F. Hoffmann-La Roche Ltd.; bioMerieux SA; Nova Biomedical; Quidel Corp.; Sekisui Diagnostics; Trinity Biotech., and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product | Glucose Testing, Hb1Ac Testing, Coagulation Testing, Fertility/Pregnancy, Infectious Disease, Infections, 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, Urinalysis/Nephrology |
Offering | Consumables, Instruments, Software and Services |
Platform | Lateral Flow Assays, Molecular Diagnostics, Other Platforms |
Sample Type | Blood Sample, Nasopharyngeal Swab, Urine Sample, Saliva Sample, Other Sample Types |
End Use | Clinics, Hospitals, Home, Assisted Living Healthcare Facilities, Laboratory |
List of Competitors | Danaher; Qiagen; Abbott; Siemens Healthcare AG; F. Hoffmann-La Roche Ltd.; bioMerieux SA; Nova Biomedical; Quidel Corp.; Sekisui Diagnostics; Trinity Biotech. |
This chapter will help you gain GLOBAL Market Analysis of Point of Care Diagnostics - POCD. Further deep in this chapter, you will be able to review Global Point of Care Diagnostics - POCD Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Point of Care Diagnostics - POCD Market Trends North America Point of Care Diagnostics - POCD Technological Road Map North America Point of Care Diagnostics - POCD Market Drivers North America Point of Care Diagnostics - POCD Market Restraints North America Point of Care Diagnostics - POCD Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
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Chapter 11 Market Split by Offering Analysis 2019 -2031
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Chapter 12 Market Split by Platform Analysis 2019 -2031
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Chapter 13 Market Split by Sample Type Analysis 2019 -2031
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Chapter 14 Market Split by End Use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Point of Care Diagnostics - POCD market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Glucose Testing have a significant impact on Point of Care Diagnostics - POCD market? |
What are the key factors affecting the Glucose Testing and Hb1Ac Testing of Point of Care Diagnostics - POCD Market? |
What is the CAGR/Growth Rate of Consumables during the forecast period? |
By type, which segment accounted for largest share of the global Point of Care Diagnostics - POCD Market? |
Which region is expected to dominate the global Point of Care Diagnostics - POCD Market within the forecast period? |
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