Market Definition
The point of care (POC) diagnostics market involves medical testing conducted at or near the site of patient care, allowing for rapid results and timely clinical decision-making. POC diagnostics include a wide range of devices and tests, such as glucose monitors, pregnancy tests, infectious disease tests, and portable blood analyzers. These technologies are designed to provide immediate, actionable information without the need for a centralized laboratory, making them critical in settings such as hospitals, clinics, homes, and remote areas.
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Market Outlook
The point of care diagnostics market is witnessing significant growth, driven by the increasing demand for rapid, accessible, and accurate diagnostic solutions. The shift towards decentralized healthcare, where testing can be performed at the patient’s location, is a key factor propelling market expansion. POC diagnostics are becoming essential in managing chronic diseases, enabling early detection of infectious diseases, and improving patient outcomes through timely treatment decisions.
Technological advancements in POC devices, including the development of more compact, user-friendly, and connected systems, are enhancing the market’s growth prospects. Innovations such as portable molecular testing, microfluidics, and smartphone-integrated diagnostics are expanding the capabilities of POC testing, allowing for more complex and precise analyses to be conducted at the point of care. These advancements are particularly crucial in addressing the growing burden of chronic diseases like diabetes, cardiovascular conditions, and respiratory disorders, where continuous monitoring and immediate intervention are critical.
The COVID-19 pandemic has further accelerated the adoption of POC diagnostics, as healthcare systems globally have prioritized the need for rapid testing to manage and control the spread of the virus. The pandemic has highlighted the importance of having reliable and easily deployable diagnostic tools, driving increased investments and innovation in the POC diagnostics market.
However, the market faces challenges such as regulatory hurdles, the need for standardized testing protocols, and the cost of advanced POC devices. Ensuring accuracy and reliability across different testing environments also poses a significant challenge, particularly in resource-limited settings. Despite these challenges, the market is poised for continued growth as healthcare providers and patients increasingly recognize the benefits of rapid, on-site diagnostics.
Overall, the point of care diagnostics market is set to expand further, driven by the growing demand for immediate diagnostic results, advancements in technology, and the ongoing shift towards more patient-centric healthcare models. As the healthcare landscape evolves, POC diagnostics will play an increasingly vital role in improving patient care and outcomes.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the global point of care diagnostics market based on product, technology, application, end use, and region.
Global Point of Care Diagnostics Market by Product
Based on product, it is segmented into glucose monitoring, cardiometabolic testing, blood gas/electrolytes testing, infectious disease testing, pregnancy and fertility testing, tumor/cancer marker testing and others. The Among these, glucose monitoring segment accounted for the largest share of the global Point of Care market, by product type, in 2021. Glucose monitoring products are used to continuously monitor and track glucose levels in the body, which also provides information regarding the amount of insulin being released. The use of such monitoring devices offers better glucose control and enables accurate treatment decisions. POC glucose monitoring kits make use of small amounts of blood (usually through a finger prick) for analyzing results, making them less invasive as compared to lab tests. These kits can also be easily used by elderly patients. Glucose monitoring kits also help patients with type I and type II diabetes to monitor their glucose levels and prevent complications. Moreover, growing prevalence of diabetes globally, ongoing technological advancements in blood glucose self-monitoring devices, and growing patient awareness about POC testing will propel the market growth.
Global Point of Care Diagnostics Market by Technology
Based on technology, it is segmented into lateral flow assays, dipsticks, microfluidics, molecular diagnostics, immunoassays and others. Among these, the Lateral flow assays segment, by platform type, accounted for the largest share of the global Point of Care market in 2021. Lateral flow assays (LFA) or lateral flow immunochromatographic assays are simple devices used to detect the presence or absence of target analytes in samples. These assays help in detecting and quantifying analytes in complex mixtures and provide results within 30 minutes after the sample is placed on the device. Lateral flow assay-based POC tests are increasingly being adopted as a replacement for lengthy, conventional laboratory procedures. POC diagnostic tests require less complex infrastructure and training, owing to which the cost of these tests is lower as compared to conventional laboratory diagnostic procedures. However, regulatory bodies often need the confirmation of results by using an independent method, which makes LFA tests suitable for only primary screening at the point of care. However, technological improvements may affect the apparatus cost and analysis duration of the test, which can hamper the adoption of this platform in the coming years.
Global Point of Care Diagnostics Market by Application
Based on application, it is segmented into cardio metabolic testing, infectious disease testing, nephrology testing, drug-of-abuse (DoA) testing and Others. Among them, the infectious disease segment segment accounted significant share in 2021 owing to the Rising demand for novel products regarding early and cost-effective detection of infectious diseases will influence the product demand. Rising laboratory capacity for the diagnosis of infectious diseases and early detection of emerging pandemic strains will spur the industry expansion. Growing prevalence of infectious disease in elderly people, new-born babies, and people with certain chronic illnesses coupled will impel the growth during analysis period. Additionally, increasing availability of rapid tests resulting in rising applications in faster disease diagnosis will impact the product demand in future. Flu segment will showcase robust growth during forecast period. As per WHO, the average worldwide burden of seasonal influenza is approximately 600 million cases, with 250,000-500,000 deaths and 3 million cases of severe sickness per year. According to CDC estimates, in the U.S. about 200,000 individuals are hospitalized and around 36,000 people die from flu and its complications every year. Thus, growing disease pervasiveness and innovation in diagnostic tools will drive the segment revenue.
Global Point of Care Diagnostics Market by End-use
Based on end-use, it is segmented into hospitals, clinics and others. The hospitals segment accounted for significant revenue size in 2021 owing to the Easy availability of the diagnostic products and presence of skilled workforce in hospitals. Moreover, sophisticated infrastructure, presence of skilled workforce and increasing number of hospital admissions will strengthen the segment growth. Furthermore, requirement of faster diagnostic kits in hospitals for better treatment option will further enhance the segment demand during the forecast period
Major Players
The key players in the market are Abbott Laboratories (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher Corporation (US), Becton, Dickinson and Company (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland) and Instrumentation Laboratory (a Werfen Company) (US), among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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