Point-of-Care Diagnostics Market Estimated to Reach Revenue of US$ 66 Billion by End of 2028, Transparency Market Research, Inc.

Transparency Market Research's most recent report on the global 𝐩𝐨𝐢𝐧𝐭-𝐨𝐟-𝐜𝐚𝐫𝐞 𝐝𝐢𝐚𝐠𝐧𝐨𝐬𝐭𝐢𝐜𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, spanning the historical period of 2017-2019 and forecasting through 2021-2028, indicates a significant uptick in the incidence of diabetes, cancer, and other chronic diseases. This surge, coupled with notable technological advancements within the point-of-care sector, has led to the development of novel and innovative products, thereby fueling market growth throughout the forecast period.

𝐆𝐫𝐚𝐛 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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In 2020, the global market reached a valuation of US$ 34.1 billion. With a projected compound annual growth rate (CAGR) of 4.7% from 2021 to 2028, the market is anticipated to hit US$ 66 billion by the close of 2028.

North America stands out as a promising region for market players, driven by factors such as a growing aging population and the escalating incidence of ailments like cancer, diabetes, and cardiovascular diseases.

The escalating demand for home healthcare services worldwide is opening up promising avenues for growth in the point-of-care diagnostics market.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬:

Johnson & Johnson Services, Inc.,bioMérieux SA,F. Hoffmann-La Roche Ltd.,Nova Biomedical,Siemens AG,Bio Rad Laboratories, Inc.,BD,Abbott,Danaher Corporation,Cardinal Health Inc.,Thermo Fisher Scientific, Inc., among others

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Platform

Lateral Flow Assays
Dipsticks
Microfluidics
Molecular Diagnostics
Immunoassays
Others

Application

Glucose Monitoring Products
Cardiometabolic Monitoring Products
Infectious Disease Testing Products
Pregnancy & Fertility Testing Products
Urinalysis Testing Products
Cholesterol Testing Products
Hematology Testing Products
Drugs-of-abuse Testing Products
Others

End-user

Hospitals
Diagnostic Laboratories
Clinics/Physician Offices
Home Care
Others

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐏𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐨𝐟 𝐂𝐡𝐫𝐨𝐧𝐢𝐜, 𝐈𝐧𝐟𝐞𝐜𝐭𝐢𝐨𝐮𝐬, 𝐚𝐧𝐝 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 𝐃𝐢𝐬𝐞𝐚𝐬𝐞𝐬: 𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫

The incidence of infectious diseases and lifestyle-related conditions is on the rise, underscoring the importance of early screening to mitigate complications and reduce healthcare costs.

As per the IDF Diabetes Atlas Tenth edition 2021, an estimated 537 million adults (aged 20 to 79) worldwide are currently living with diabetes. This number is projected to escalate to 643 million by 2030 and further to 783 million by 2045.

Moreover, data compiled from 2015 to 2018 reveals that approximately 93.9 million adults in the United States, representing 38.1% of the population, had total cholesterol levels of 200 mg/dL or higher, as reported by the American Heart Association, Inc. These statistics highlight the significant burden of cardiovascular health issues in the country.

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In February 2022, Mylab Discovery Solutions announced the approval and launch of CoviSwift for testing for COVID-19. CoviSwift is the first point-of-care testing solution that can be used in small labs, in-hospital labs, and airports. CoviSwift is driven by RT-PCR gold standard technology as against the CoviSelf rapid antigen home testing kit. The test is expected to be available in the market by early February.

In April 2021, CA Healthcare Acquisition Corp. announced a definitive merger agreement with LumiraDx Limited. The combination reflects a value of US$ 5.0 Bn for Lumira's existing equity. Since its formation, LumiraDx has raised US$ 700 Mn in equity capital including investments by Morningside Ventures, U.S. Boston Capital Corporation, the Bill & Melinda Gates Foundation, Petrichor Healthcare Capital Management, and other global strategic partners.

𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐁𝐨𝐨𝐬𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

Technological innovations are expected to drive growth in the global point-of-care diagnostics market, offering early, safe, and accurate results for diagnosis.
Introduction of the fifth generation HIV test enables early detection of HIV infection by diagnosing HIV antigen, providing comprehensive information about a person's HIV status.

The 5th generation HIV test can detect and identify both HIV-1 and HIV-2 antibodies and the p24 antigen individually in one blood sample, offering specific indications of positivity compared to the 4th generation test.
Amidst the COVID-19 pandemic, the World Health Organization (WHO) prioritizes bedside diagnostics to improve turnaround time and ease of use, utilizing rapid antigen tests, alternative DNA amplification technologies, and innovative sensors near patients.

Smartphones equipped with built-in sensors, high-resolution cameras, and high-speed wireless connectivity are utilized as minicomputers for sensitive data quantification, serving as standalone sensors and detectors in mobile point-of-care testing (POCT).

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬

Market Size and Growth Projections
Regional Dynamics and Opportunities
Competitive Landscape Analysis
Regulatory Environment and Policy Implications
Technological Innovations and Future Trends

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐏𝐨𝐫𝐭 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/01/05/2584007/0/en/Port-Equipment-Market-to-Rise-at-a-CAGR-of-4-8-during-Forecast-Period-Reveals-2022-TMR-Study.html

𝐌𝐚𝐫𝐢𝐧𝐞 𝐋𝐮𝐛𝐫𝐢𝐜𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/01/05/2583925/0/en/Marine-Lubricants-Market-to-Reach-US-7-53-Bn-by-the-End-of-2031.html 

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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