Press release
Global Point of Care Diagnostics Market Projected to Surpass $74.15 Billion by 2029 with 9% Annual Growth
Point of Care Diagnostics Market Size
The surge in chronic and infectious diseases is fueling the progression of the point of care (POC) diagnostics market. Chronic ailments, characterized by their slow progression over a long period, typically more than 3 months, can be managed effectively with the help of point-of-care diagnostics. This kind of testing is extremely popular because of the convenience it provides. For example, data from the Centers for Disease Control and Prevention (CDC) in 2023 reported that 42% of adults in the U.S had two or more chronic diseases. This distressing trend underscores the mounting incidence of multiple chronic illnesses in adults. Consequently, the growing prevalence of these chronic diseases is catalyzing the expansion of the point of care (POC) diagnostics market.
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How will the growth rate of the point of care diagnostics market shape industry trends by 2034?
Recently, there has been remarkable growth in the point of care diagnostics market. It is projected that this market, which was worth $48.06 billion in 2024, will increase to a commanding $51.76 billion in 2025 with a compound annual growth rate (CAGR) of 7.7%. The significant growth witnessed in the historical period is due to factors such as the increasing prevalence of chronic diseases, enhanced diagnostic precision, the alteration of healthcare settings, mounting pressures on healthcare costs, and increasing consumer preference for convenience.
In the coming years, the point of care diagnostics market is set to witness robust growth. The market valuation is projected to reach $74.15 billion by 2029 at a compound annual growth rate (CAGR) of 9.4%. The expansion expected in the forecast period can be accredited to the demand for remote healthcare, growth potential in developing economies, customized healthcare, emphasis on preventive healthcare, as well as investment in research & development. The major trends set to shape the forecast period include the evolution of personalized medicine, miniaturization of technology, integration of telemedicine, emergence of new biomarkers and increased consumer participation.
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What trends are poised to drive the future success of the point of care diagnostics market?
The emergence of product innovations is a notable trend in the point of care (POC) diagnostics market. To maintain their market standing, leading companies in this sector are rolling out innovative products. For instance, PocDoc, a diagnostics firm based in the United States, unveiled the PocDoc Cardiovascular Diseases point-of-care test in January 2022. This five-step test involves sample collection, testing it on the lateral flow test kit, and instantly receiving a diagnosis on the phone. What sets this product apart is its position as the world's first smartphone-based test for cardiovascular disease testing.
Which primary segments of the point of care diagnostics market are driving growth and industry transformations?
The point of care diagnostics market covered in this report is segmented -
1) By Product: Glucose Monitoring Kits, Infectious Diseases Testing Kits, Pregnancy And Fertility Testing Kits, Hematology Testing Kits, Cardiometabolic Monitoring Kits, Urinalysis Testing Kits, Cholesterol Test Strips, Other Products
2) By Mode Of Prescription: Prescription Based Devices, OTC (Over-The-Counter) Based Devices
3) By End User: Professional Diagnostic Centers, Research Laboratories, Home Care, Other End-Users
Subsegments:
1) By Glucose Monitoring Kits: Blood Glucose Meters, Test Strips
2) By Infectious Diseases Testing Kits: Rapid Antigen Tests, PCR Testing Kits, Serology Tests
3) By Pregnancy And Fertility Testing Kits: Home Pregnancy Tests, Ovulation Predictor Kits
4) By Hematology Testing Kits: Complete Blood Count (CBC) Test Kits, Coagulation Test Kits
5) By Cardiometabolic Monitoring Kits: Lipid Profile Test Kits, Blood Pressure Monitors
6) By Urinalysis Testing Kits: Dipstick Test Kits, Urine Culture Kits
7) By Cholesterol Test Strips: Home Cholesterol Testing Kits
8) By Other Products: Customizable Test Kits, Point Of Care Testing Platforms
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Which geographical regions are pioneering growth in the point of care diagnostics market?
North America was the largest region in the point of care diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the point of care diagnostics market report during the forecast period. The regions covered in the point of care diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the point of care diagnostics market landscape?
Major companies operating in the point of care diagnostics market include Abbott Laboratories, Siemens Healthineers AG, Beckman Coulter Inc., Becton, Dickinson and Company, Instrumentation Laboratory Company, Nova Biomedical Corporation, Qiagen NV, F. Hoffmann-La Roche Ltd., Biomeriux SA, Quidel Corporation, Orasure Technologies Inc., Johnson and Johnson, Thermo Fisher Scientific Inc., Sysmex corporation, Sinocare Inc., Arkray Inc., Danaher Corporation, Chembio Diagnostics Inc., EKF Diagnostics Holdings plc, Trinity Biotech plc, Fluxergy Inc., LumiraDx UK Ltd., Meridian Bioscience Inc., Nipro Europe Group Companies, AccuBioTech Co. Ltd., Atlas Genetics Ltd., Atlas Link Biotech Co. Ltd., Biomeme Inc., Cepheid Inc., Church & Dwight* Co. Inc.
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What Is Covered In The Point of Care Diagnostics Global Market Report?
• Market Size Forecast: Examine the point of care diagnostics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the point of care diagnostics market for a structured understanding.
• Key Players Overview: Analyze major players in the point of care diagnostics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the point of care diagnostics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the point of care diagnostics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the point of care diagnostics market.
• Industry Challenges: Identify potential risks and obstacles affecting the point of care diagnostics market.
• Competitive Landscape: Review strategic developments in the point of care diagnostics market, including expansions, agreements, and new product launches.
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