Point of Care Diagnostics Market to be Worth $68.59 Billion by 2030: Million Insights

SAN FRANCISCO, Jan. 10, 2023 /PRNewswire/ -- The global point-of-care diagnostics market was valued at USD 37.03 billion in the year 2021, advancing at a CAGR of 6.8% during the period of study. Growing cases of chronic and acute diseases globally has driven the need for advanced healthcare solutions. There has been an evident increase in the cases of chronic illnesses like diabetes, cardiovascular diseases, and liver and kidney diseases has driven the need for a reliable and accurate diagnostic solution.

Key Industry Insights & Findings from the report:

• Considering the type of product, infectious disease segment led the segment holding 20% of the total market revenue share in the year 2021. Testing of infectious diseases has moved from centralized to decentralized POC testing form, leading to enhanced patient care. Rising demand for quick tests, that offer rapid and accurate results has encouraged industry players to extend POC solutions to even decentralized areas.
• High cases of diabetes globally has propelled the demand for glucose testing products over time. Efforts taken by public health authorities to spread awareness regarding early diabetes detection to control the condition will continue to support the segment growth in the times to come.
• With respect to end user, clinics accounted for 35% of the total revenue share in 2021 owing to the shift from primary care units to urgent care centres in various developing countries, which has steered the need for diagnostic testing in clinics. Moreover, clinics offer a number of testing services under a single roof.
• Region-wise, Asia Pacific POC diagnostics market has emerged as a prominent revenue belt for industry players due to the improving healthcare sector in the region along with the efforts taken by the government to extend advanced healthcare services. Through programs, the government is also focusing on educating people in the region regarding early diagnosis of some of the crucial diseases in order to control death rate.

Read 295 page full market research report for more Insights, "Point Of Care Diagnostics Market Size, Share & Trends Analysis Report By Product, By End-use, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

Point Of Care Diagnostics Market Growth & Trends

Notably, the rise in COVID-19 cases and its seriousness has led to the need for advanced diagnostics that help curb infection rates. Government in many parts of the world has joined hands with private diagnostic labs in a bid to expand service reach to remote parts of the country.

In addition to this, high risk of hospital-acquired infections has encouraged people to opt for point-of-care diagnostics which is safer and offers optimum quality. It is important to note that poorly written handover documents may cause unnecessary risks leading to high mortality rates. At present, long-term care facilities witness a number of medical transfer issues, the biggest of which is poor communication of patient issues. Hence, one of the main advantages of point-of-care diagnostics is improved communication between patients, facilities, and other medical service providers. Sharing of relevant patient data allows healthcare professionals to make the right decision.

Digital technologies are gradually integrating with diagnostic solutions to expand point-of-care services. For instance, telehealth is increasingly being used as an effective marketing strategy for market players. Growing internet penetration along with easy access to healthcare apps has reduced the distance between patients and diagnostics services. Thus, the expansion of remote patient monitoring system that offers a number of diagnostic tests is projected to positively influence the market growth.

Point Of Care (POC) Diagnostics Market Segmentation

Million Insights has segmented the global point of care diagnostics market based on product, end-use, and region:

Point of Care Diagnostics Market - 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

Point of Care Diagnostics Market - 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

Point of Care Diagnostics Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• 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.

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