Point Of Care Diagnostics/Testing Market Size, Share, Trends, Industry Overview, Top Players- Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., PTS Diagnostics

Point Of Care Diagnostics/Testing Market Report Size, Scope & Overview :

The SNS Insider report indicates that the Point of Care Diagnostics/Testing Market was valued at USD 23.99 billion in 2022, and is expected to reach market size of USD 58.97 billion by 2030, with a compound annual growth rate (CAGR) of 11.9% expected over the forecast period from 2023 to 2030.

Based on SNS Insider's research, the pace of market viability has been significantly increased by the decentralisation of healthcare communities around the world, and it is likely that this will lead to significant developments in the future.

Significant market players have increased their focus on adapting new developments, such as artificial intelligence, for the production of accurate point of care diagnostic tests. 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. In addition to this, several players have focused on improving Nanomolecule based on point of care diagnostics. Nanotechnologies have made it easier for healthcare providers to diagnose and detect different conditions through the unique properties of nanomaterials.

Major Key Players in Point Of Care Diagnostics/Testing Market-

-Hoffmann-La Roche Ltd
-Johnson & Johnson Services, Inc
-PTS Diagnostics
-Nova Biomedical
-QuidelCorporation
-Abbott Laboratories
-Siemens Healthineers GmbH
-Chembio Diagnostics, Inc
-Becton
-Dickinson and Company
-Danaher Corporation
-Other Players.

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Point Of Care Diagnostics/Testing Market Opportunities-

Technological Advancement in lateral flow assay

The industry's growth will be aided by the launch of novel products that will allow for rapid advancement in the research and development (R&D) of point-of-care testing (POCT) diagnostic tools. In addition, advances in component materials, reader technologies, reagents, and sensitivity increase have made quantitative results more possible with the use of lateral flow assay, supporting sector growth.

Segmentation Analysis in Point Of Care Diagnostics/Testing Market-

-In 2022, the segment of infectious diseases accounted for more than 24.4% of its revenue. Testing for infectious diseases has shifted from centralised to decentralised point of care testing, resulting in better patient care. Increased demand for quick tests is driving the market, which has led to the delivery of POC solutions to decentralised regions by industry players. As an example, Abbott introduced ID NOW, the world's fastest molecular point of care test that delivers COVID-19 results in 13 minutes and is useful at a variety of decentralised healthcare settings like doctors' offices or emergency rooms.

-In 2022, clinics accounted for the largest revenue shares of more than 37.91%. The major contributor to the revenue generated in this segment is pharmacy and retail clinics. Growing access to novel diagnostic technologies, improving healthcare coverage, and affordability are the key factors that are expanding the applications of POC diagnostics.

Key Market Segmentation :

By End User

-Hospitals & Clinics
-Diagnostic Centers
-Homecare/Self Testing
-Others

By Mode of Purchase

-OTC Testing Products
-Prescription-based testing products

By Platform

-Immunoassays
-Molecular Diagnostics
-Dipsticks
-Others

By Product

-Glucose Monitoring
-Cardiometabolic Monitoring
-Infectious Disease Testing
-Coagulation Monitoring
-Pregnancy & Fertility Testing
-Hematology Testing
-Cancer/Tumor Marker Testing
-Urinalysis Testing
-Cholesterol
-Drugs-of-Abuse Testing
-Others

Key Regional Development in Point Of Care Diagnostics/Testing Market-

-In 2022, North America accounted for more than 43.2% of its revenues. In view of the rapidly increasing number of COVID-19 cases as well as the presence of key players in the US and Canada, this region will maintain its dominant position throughout the forecast period. In the case of iStatis COVID-19 Antigen Home Test, a CE marking was granted to BioLytical Laboratories Inc. from March 2022 in Canada. This will allow the company to establish itself in Europe's market.

The Asia Pacific, with a compound annual growth rate of 8.1% from 2023 to 2030, is expected to be the fastest growing region worldwide. A growing pool of local diagnostics kits and reagents manufacturers in this region, offering a wide range of test solutions for the diagnosis of coronavirus infection, is anticipated to drive the Asia Pacific pointof care market. In order to increase COVID-19 testing capacity, the countries are constantly increasing their capacities.

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Key Takeaway from Point of Care Diagnostics/Testing Market Study-

Definition and Significance: diagnostics at point of care or bedside are carried out as close to the patient as possible in order to provide an efficient screening, assessment, diagnosis, treatment and prognosis.

Market Leader: Abbott Laboratories is a leading player in the point of care diagnostics market, and emphasises an efficient approach to reducing testing errors.

Market driver: increasing demand in the hospital environment, as well as outside it, for reliable and prompt tests.

Recent Development Related to Point of Care Diagnostics/Testing Market-

-In March 2022, Visby Medical announced that it has received funding from the U.S. Biomedical Advanced Research and Development Authority of USD 25.5 million to develop a rapid fluVIDCO-19 PCR test for use at home. At present, the test is in the under-developing phase and the design is ready as a PCR device that can detect COVID-19, influenza A, and B from a single sample

-In March 2022, Una Health has entered into an agreement with Siemens Healthineers to expand the distribution channel of Atellica VT Patient Specific Immunoassay Analyser in the United Kingdom.

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Table of Contents

1.Introduction
2.Research Methodology
3.Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4.Impact Analysis
5.Value Chain Analysis
6.Porter's 5 forces model
7.PEST Analysis
8.Point of Care Diagnostics/Testing Market, by End User
9.Point of Care Diagnostics/Testing Market, by Mode of 10.Purchase
11.Point of Care Diagnostics/Testing Market, by Platform
12.Point of Care Diagnostics/Testing Market, by Product
13.Regional Analysis
14.Company Profiles
15.Competitive Landscape
16.Conclusion

Akash Anand - Head of Business Development & Strategy,
Info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND),
Website: https://www.snsinsider.com/
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