SAN FRANCISCO, June 6, 2022 /PRNewswire/ -- The global
point of care diagnostics market size is expected to reach
USD 68.59 billion by 2030, according
to a new report by Grand View Research, Inc. It is expected to
expand at a CAGR of 6.8% from 2022 to 2030. The introduction of
advanced technologies such as Telehealth enabled POCT is expected
to fuel market growth. Furthermore, the rise in the geriatric
population and their need for accessible home-based care are
anticipated to drive the market.
Key industry Insights & Findings from the report:
- The glucose testing product segment held the second-largest
revenue share in 2021. The high prevalence of diabetes, coupled
with the requirement of constant monitoring of blood sugar levels,
is contributing to the segment growth,
- The home end-use segment is expected to grow lucratively over
the forecast period attributed to significant traction of at-home
or self-testing for COVID-19. POCT devices are easy to use and do
not, mandatorily, require any modern lab infrastructure for testing
simpler target analytes in a patient's sample,
- North America dominated the
global market in 2021 owing to the increasing demand for new
technologies, a large pool of key players, and advanced healthcare
infrastructure,
- The Asia Pacific is expected
to grow considerably in the future owing to the rising prevalence
of cancer, diabetes, cardiovascular diseases, and infectious
diseases. The increasing population with limited disposable income
is the potential target market for the key players in the
region.
Get More Latest Insights from 295-page market research
report, "Point Of Care Diagnostics Market Size, Share &
Trends Analysis Report By Product (Infectious Diseases, Glucose
Testing, Cardiac Markers), By End-use (Clinics, Home, Hospitals),
By Region, And Segment Forecasts, 2022 - 2030", published by
Grand View Research.
Point of Care Diagnostics Market Growth & Trends
The adoption of POCT in emerging economies such as Africa and Latin
America is anticipated to be a growth determinant of the
global POCT market. The authorities are decentralizing the
healthcare system and increasing their investments. For instance,
the African regulations in Kenya
allotted USD 346.7 to Managed
Equipment Services project for the government's initiative toward
modernizing facilities by procuring new equipment. The Ministry of
Health selected GE Health and Philips to offer equipment across 47
countries. Similarly, Latin
America decentralized IVD testing, which encourages private
players to take strategic initiatives to meet the region's existing
demand for affordable POCT, especially in the infectious diseases
segment.
Currently developed POC devices and tests are employed across
different medical diagnostic applications, including cancer,
pregnancy, and infectious diseases. Patients and physicians employ
POC tests to screen conditions, confirm diagnoses, and design
suitable therapeutic approaches based on patient health. However,
the enthusiasm displayed by different consumers, such as doctors,
patients, and caregivers, varies widely. This dynamic consumption
pattern of POC diagnostic products is also attributed to economic
scalability, financial interests, and lack of a universal
healthcare structure.
In the light of COVID-19, the lockdown imposed across the globe
has necessitated virtual visits and rapid diagnostic tests that
assist patients to avoid hospital visits. Post-lockdown, the
eHealth strategy is the emerging area of priority and investment
such as an automated patient appointment system, lab result
transmission system, healthcare workers' communication system, and
medical products procurement system for the companies and
governments. It is anticipated to continue to prioritize home-based
healthcare delivery even after the pandemic, especially for
patients with pre-existing conditions. For instance, NeuroMetrix,
Inc. appointed a team to develop the business of DPNCheck, a POCT
for peripheral neuropathies. The team is responsible for expanding
the footprint in the healthcare market and focusing on the Medicare
Advantage population.
Point of Care Diagnostics Market Segmentation
Grand View Research has segmented the global point of care
diagnostics market based on product, end-use, and region:
Product Outlook (Revenue, USD Million, 2018 - 2030)
- Glucose Testing
- Hb1Ac Testing
- Coagulation Testing
- Fertility/Pregnancy
- Infectious Disease
-
- HIV POC
- Clostridium Difficile POC
- HBV POC
- Pneumonia or Streptococcus Associated Infections
- Respiratory Syncytial Virus (RSV) POC
- HPV POC
- Influenza/Flu POC
- HCV POC
- MRSA POC
- TB and Drug-resistant TB POC
- HSV POC
- COVID-19
- Other Infectious Diseases
- 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
End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Clinics
-
- Pharmacy & Retail Clinics
- Physician Office
- Urgent Care Clinics
- Non-practice Clinics
- Hospitals
- Home
- Assisted Living Healthcare Facilities
- Laboratory
Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
-
- Europe
-
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
-
- Japan
- China
- India
- South Korea
- Australia
- Latin America
-
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Point of Care Diagnostics
Market
- F. Hoffmann-La Roche Ltd.
- Danaher
- BD
- Qiagen
- Abbott
- Siemens Healthcare AG
- bioMerieux SA
- Zoetis, Inc.
- Instrumentation Laboratory
- Nova Biomedical
- Quidel Corp.
- Trividia Health, Inc.
- Sekisui Diagnostics
- Nipro Corp.
- Trinity Biotech
- Orasure Technologies, Inc.
- Spectral Medical, Inc.
Check out more related studies published by Grand View
Research:
- Point of Care Infectious Disease Testing Market -
The global point-of-care infectious disease testing market size is
expected to reach USD 1.90 billion by
2025, according to a new report by Grand View Research, Inc. The
emerging trend of patient-centric services coupled with escalating
incidence rates of complicated infectious disorders is expected to
upsurge the demand for portable and accurate detection devices,
thus resulting in market growth. The potential in these devices to
enable rapid detection of infectious diseases is attributive for
the estimated market.
- Point-of-Care Molecular Diagnostics Market - The global
point-of-care molecular diagnostics market size is anticipated to
reach USD 3.86 billion by 2024
expanding at a CAGR of 14.4%, according to a new report by Grand
View Research, Inc. Ongoing research & development to
miniaturize molecular diagnostics testing that provides enhanced
near patient testing with high accuracy and lesser turnaround times
are major factors expected to reinforce the high growth potential
for POC MDx products.
- Veterinary Point Of Care Diagnostics Market - The global
veterinary point of care diagnostics market size is anticipated to
reach USD 3.17 billion by 2030,
according to a new report by Grand View Research, Inc. The market
is expected to grow at a lucrative CAGR of 10.6% from 2021 to 2030.
Factors driving the market growth comprise increasing demand for
easy-to-use and rapid diagnostic products, increasing incidence of
zoonotic diseases among companion and livestock animals, strategic
initiatives by market players, and growing animal health
concerns.
Browse through Grand View Research's Clinical Diagnostics
Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research Helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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