Point Of Care Diagnostics & Testing Market anticipated to be a growth determinant with CAGR of 6.8% from 2022 to 2030

 Point Of Care Diagnostics & Testing Industry Overview

The global point of care diagnostics market size was valued at USD 37.03 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030. 

The market is set to gain momentum in the coming years on account of the increase in funding from multiple sources, the rising prevalence of target diseases, and the need to address the recent outbreak of coronavirus. The ongoing COVID-19 pandemic had an enormous impact on the global industry in 2021 and the COVID-19 effect is anticipated to reflect in the projected tenure. For instance, in September 2021, the South Korean Department of Defense awarded USD 626 million to Celltrion as a part of the procurement contract for DiaTrust COVID-19 Ag Rapid Test. 

Gather more insights about the market drivers, restrains and growth of the Global Point Of Care Diagnostics & Testing Market

However, the pandemic disrupted the supply chain and restricted the manufacturers to receive substantial raw material from across borders. An increase in funding by multiple sources, including the U.S. Department of Defense (DOD), the NIH, and private foundations like the Bill & Melinda Gates Foundation, is expected to drive the POCT market. For instance, Grand Challenges Canada and the Bill & Melinda Gates Foundation have launched a joint initiative for POC diagnostics. These organizations are involved in the development and integration of different diagnostic components into interoperable POC platforms with a “plug-and-play” characteristic feature and the capability of running diverse tests from various developers. Research is carried out to incorporate each test on a common platform with a single interface, enabling analysis of different sample specimens, with various approaches for analysis. 

The integration of digital technologies is expected to exhibit a powerful impact on the expansion of POC solutions in limited resource settings. Increasing usage of telehealth as new normal is a critical go-to-market strategy for POCT players. As per the U.S. Centers for Disease Control and Prevention, approximately 95% of health centers in the U.S. provided telehealth services during the pandemic. Therefore, the expansion of remote patient monitoring systems such as PixCell Medical, a POC technology for CBC tests, is expected to positively impact the market growth.

The increasing importance of POC diagnostics in environmental monitoring and public health also demands the integration of technologies that facilitate easy networking, further making it convenient for healthcare professionals to interpret test results accurately. Companies are developing affordable POC with high specificity and sensitivity. For instance, in March 2022, Everything Genetic received approval from the U.K. regulatory bodies for selling COVID-19 Antigen Tests in the U.K. market. The company sells lateral flow devices at GBP 2 for single kits, this is expected to surge the POC diagnostics market growth, especially in developing economies.

Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.

  • In Vitro Diagnostics Market: The global in vitro diagnostic market size was valued at USD 111.67 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 0.2% from 2022 to 2030.
  • Molecular Diagnostics Market: The global molecular diagnostics market size was valued at USD 37.04 billion in 2021 and is expected to decline at a compound annual growth rate (CAGR) of -1.6% from 2022 to 2030. 

 

POC Diagnostics & Testing Market Segmentation

 

Grand View Research has segmented the global point of care diagnostics & testing market on the basis of product, end-use, and region:

 

  • POC Diagnostics & Testing Product Outlook (Revenue, USD Million, 2018 - 2030)
  • Glucose Testing
  • Hb1Ac Testing
  • Coagulation
  • Fertility
  • Infectious Diseases
    • HIV
    • Clostridium Difficile
    • HBV
    • Pneumonia or Streptococcus Associated Infections
    • Respiratory Syncytial Virus (RSV)
    • HPV
    • Influenza/Flu
    • HCV
    • MRSA
    • TB and Drug-Resistant TB
    • HSV
    • 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 Abuse Testing
  • Urinalysis

 

  • POC Diagnostics & Testing 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

 

  • POC Diagnostics & Testing Regional Outlook (Revenue, USD Million, 2018 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Market Share Insights

  • March 2020: Nova Biomedical launched Stat EMS Basic blood testing system to be used in emergency and ambulance care in CE regulated countries.
  • January 2020: Roche Diagnostics updated its collaboration with Inotrem S.A. to develop a rapid blood test for septic shock. The collaboration is targeted toward designing a companion diagnostic test to measure sTREM-1 levels in the bloodstream.

Key Companies profiled:

Some prominent players in the global point of care diagnostics & testing market include

  • 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.

Order a free sample PDF of the Point Of Care Diagnostics & Testing Market Intelligence Study, published by Grand View Research.

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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