Point of Care Diagnostics Market Overview by Rising Demands and Scope 2021 to 2031 | | Key Players: Abbott Laboratories (US), Siemens Healthineers AG (Germany), Quidel Corporation (US)

New York, Global Point of Care Diagnostics Market was valued at USD 32.2 billion in 2021 and it is anticipated to grow up to USD 76.4 billion by 2031, at a CAGR of 9.0% during the forecast period.

Global Point of Care Diagnostics Market report from Global Insight Services is the single authoritative source of intelligence on Point of Care Diagnostics Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Point of care diagnostics allows medical staff and physicians to accurately achieve real-time lab-quality diagnostic results within minutes. Point of care testing devices utilize principles of lateral flow chromatography and immunoassays to analyze the whole blood. POCT includes blood glucose testing, blood gas and electrolytes analysis, rapid coagulation testing, rapid cardiac markers diagnostics, drugs of abuse screening, pregnancy testing and fecal occult blood analysis among others.

Market Trends and Drivers

POC tests can greatly improve the management of infectious diseases, especially in developing countries where access to timely medical care is a challenge and the healthcare infrastructure is antiquated and sparse. For instance, according to UNAIDS, around 20.6 million people were living with HIV in East and Southern Africa in 2018. Similarly, in 2019, 20,000 new HIV cases were registered in the Middle East and North Africa as per the UNAIDS Data 2020). In the Asia Pacific, an estimated 5.8 million people were suffering from HIV in 2019, led by India and China. According to UNAIDS, in 2019, approximately 2.1 million people in India were infected with HIV. The high prevalence of HIV is likely to boost the demand for point-of-care diagnostics, further accelerating the treatment of HIV infection. Hence, high prevalence of infectious diseases, coupled with the inadequate healthcare infrastructural facilities in developing countries, is expected to drive the adoption of POC testing.

Global Point of Care Diagnostics Market Segmental Overview

The report analyses the global point of care diagnostics market based on product, technology, application, end use, and region.

Global Point of Care Diagnostics Market by Product

Based on product, it is segmented into glucose monitoring, cardiometabolic testing, blood gas/electrolytes testing, infectious disease testing, pregnancy and fertility testing, tumor/cancer marker testing and others. The Among these, glucose monitoring segment accounted for the largest share of the global Point of Care market, by product type, in 2021. Glucose monitoring products are used to continuously monitor and track glucose levels in the body, which also provides information regarding the amount of insulin being released. The use of such monitoring devices offers better glucose control and enables accurate treatment decisions. POC glucose monitoring kits make use of small amounts of blood (usually through a finger prick) for analyzing results, making them less invasive as compared to lab tests. These kits can also be easily used by elderly patients. Glucose monitoring kits also help patients with type I and type II diabetes to monitor their glucose levels and prevent complications. Moreover, growing prevalence of diabetes globally, ongoing technological advancements in blood glucose self-monitoring devices, and growing patient awareness about POC testing will propel the market growth.

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Global Point of Care Diagnostics Market by Technology

Based on technology, it is segmented into lateral flow assays, dipsticks, microfluidics, molecular diagnostics, immunoassays and others. Among these, the Lateral flow assays segment, by platform type, accounted for the largest share of the global Point of Care market in 2021. Lateral flow assays (LFA) or lateral flow immunochromatographic assays are simple devices used to detect the presence or absence of target analytes in samples. These assays help in detecting and quantifying analytes in complex mixtures and provide results within 30 minutes after the sample is placed on the device. Lateral flow assay-based POC tests are increasingly being adopted as a replacement for lengthy, conventional laboratory procedures.

Global Point of Care Diagnostics Market by Application

Based on application, it is segmented into cardio metabolic testing, infectious disease testing, nephrology testing, drug-of-abuse (DoA) testing and Others. Among them, the infectious disease segment segment accounted significant share in 2021 owing to the Rising demand for novel products regarding early and cost-effective detection of infectious diseases will influence the product demand. Rising laboratory capacity for the diagnosis of infectious diseases and early detection of emerging pandemic strains will spur the industry expansion.

Global Point of Care Diagnostics Market by End-use

Based on end-use, it is segmented into hospitals, clinics and others. The hospitals segment accounted for significant revenue size in 2021 owing to the Easy availability of the diagnostic products and presence of skilled workforce in hospitals. Moreover, sophisticated infrastructure, presence of skilled workforce and increasing number of hospital admissions will strengthen the segment growth. Furthermore, requirement of faster diagnostic kits in hospitals for better treatment option will further enhance the segment demand during the forecast period

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Geographical Analysis of Global Point of Care Diagnostics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America therapeutic respiratory devices market captured significant market share in 2021 and is expected to grow significantly during the forecast years. Rising prevalence of infectious diseases and growing application of POC tests for safe and early diagnosis will increase the demand for such rapid tests. Also, high research and development investment by governments and major market players for development of POC molecular diagnostic tests will foster the market revenue during the forecast timeline. Increasing cases of COVID-19 in the region will boost the usage of point of care molecular diagnostic kits to manage the disease efficiently. Moreover, surmounting use of PCR-based procedures for diagnosis and commercialization of real-time PCR products will further influence the regional demand

Major Players in the Global Point of Care Diagnostics Market

The key players in the market are Abbott Laboratories (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Becton, Dickinson and Company (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland) and Instrumentation Laboratory (a Werfen Company) (US), among others.

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