Global Point of Care Diagnostics Market Grows Steadily at a CAGR of 6.67%

The global point of care diagnostics market was valued at USD 37.12 billion in 2021. It is projected to reach USD 66.37 billion by 2030, growing at a CAGR of 6.67% during the forecast period (2022–2030). Point-of-Care diagnostics are techniques used for the early and rapid diagnosis of disease. These techniques are susceptible and cost-effective and are applied in hospitals, clinics, ambulatory care, home healthcare, and research laboratories. The increasing prevalence of target illnesses is the most important factor driving market expansion. Point of care treatment permits speedy and dependable diagnostic testing with instantaneous results, enabling physicians/patients to make care-related decisions remotely and immediately. Market Dynamics Increasing Value of Point of Care Diagnostics for Environmental Monitoring and Public Health and Proliferation of Infectious Diseases Drives the Global Market The growing significance of point-of-care diagnostics in environmental monitoring and public health necessitates the development of technologies that simplify networking, making it more comfortable for medical practitioners to interpret test findings appropriately. Point-of-care tests can significantly improve the management of infectious diseases, especially in developing countries where timely access to healthcare can be challenging and when the healthcare system is underdeveloped and underfunded. In East and Southern Africa in 2021, UNAIDS estimated approximately 21.2 million HIV-positive individuals. Twenty thousand newly diagnosed cases of HIV were tallied throughout the Middle East and North Africa. It is anticipated that the demand for diagnostics that can be completed at the point of care will rise, accelerating the process of treating HIV infection. Evolution of Remote Monitoring of Patients Creates Tremendous Opportunities The application of digital technology is projected to substantially impact the creation of POC solutions in settings with limited resources. As part of their go-to-market strategy, businesses in the POCT sector should place the utmost importance on expanding their use of telehealth as the industry standard. It is anticipated that the emergence of remote patient monitoring systems such as PixCell Medical, point-of-care technology for CBC testing, would benefit the market's development. Regional Analysis North America maintained the largest revenue share in the global point of care diagnostics market due to the rapidly increasing number of COVID-19 cases and critical players in both the United States and Canada. For example, in March 2022, the company bioLytical Laboratories Inc., situated in Canada, was awarded CE marking for the iStatis COVID-19 Antigen Home Test. Key Highlights The global point of care diagnostics market was valued at USD 37.12 billion in 2021. It is projected to reach USD 66.37 billion by 2030, growing at a CAGR of 6.67% during the forecast period (2022–2030). Based on product, the market is divided into Glucose Testing, Hb1Ac Testing, Coagulation Testing, Fertility/Pregnancy, Infectious Disease, 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, and Urinalysis/Nephrology. The infectious disorders segment owns a significant market share and is expected to grow during the forecast period. Based on end-user, the market is segmented into clinics, hospitals, homes, assisted living healthcare facilities, and laboratories. The clinic segment is the most dominant in the global point of care diagnostics market, and pharmacy and retail clinics as the most significant contributors to this segment revenue. North America maintained the largest revenue share in the global point of care diagnostics market. Competitive Players The global point of care diagnostics market’s major key players are F. Hoffmann-La Roche Ltd.; Qiagen; Danaher Corp.; Becton Dickinson (BD); Biomerieux SA; Abbott Laboratories; Siemens Healthcare AG; Zoetis, Inc.; Instrumentation Laboratory; Nova Biomedical; Trividia Health, Inc.; Quidel Corp.; Trinity Biotech; Sekisui Diagnostics; Orasure Technologies, Inc.; Nipro Corp.; Spectral Medical, Inc. Market News June 2022- Roche launches the VENTANA DP 600 slide scanner for digital pathology, enhancing patient care with precision diagnostics. June 2022- Roche launches human papillomavirus (HPV) self-sampling solution, expanding cervical cancer screening options. May 2022- QIAGEN launches therascreen EGFR Plus RGQ PCR Kit featuring C797S detection to help guide non-small cell lung cancer (NSCLC) treatment. June 2022- BD Collaborates with Mayo Clinic Platform, Leveraging Real-World Clinical Data to Improve Post-Market Device Surveillance, Drive Innovation for Patient Care. Market Segmentation By Product Glucose Testing Hb1Ac Testing Coagulation Testing Fertility/Pregnancy Infectious Disease 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 By End-User Clinics Hospitals Home Assisted Living Healthcare Facilities Laboratories By Regions North America Europe Asia-Pacific LAMEA