The Point of Care Diagnostics/Testing Market Size was valued at USD 23.99 billion in 2022 and is expected to reach USD 58.97 billion by 2030, and grow at a CAGR of 11.9% over the forecast period 2023-2030.
Several key factors are propelling this market's meteoric rise:
- Rising prevalence of chronic diseases: The growing burden of diabetes, cardiovascular disease, and other chronic conditions fuels the demand for convenient and immediate monitoring solutions offered by POC devices.
- Technological advancements: Miniaturization, increased accuracy, and faster turnaround times for results are making POC devices more powerful and reliable than ever before.
- Focus on patient-centric care: POC empowers patients with real-time health information, enabling them to actively participate in their healthcare decisions and improve adherence to treatment plans.
- Decentralization of healthcare: POC testing facilitates diagnosis and treatment closer to patients, reducing pressure on hospitals and clinics and making healthcare more accessible in underserved areas.
- Cost-effectiveness: POC testing eliminates the need for expensive laboratory infrastructure and reduces unnecessary hospital admissions, ultimately leading to cost savings for healthcare systems.
Navigating the Landscape: Segmentation of the Point-of-Care Diagnostics Market:
- By Mode of Purchase:
- OTC (Over-the-counter): The largest segment, driven by the rising popularity of home-based glucose monitoring and other self-administered tests.
- Prescription-based: Maintained by healthcare professionals for more complex tests or those requiring interpretation by trained personnel.
- By Platform:
- Immunoassays: Remain the dominant platform due to their ease of use, rapid results, and wide range of applications.
- Molecular Diagnostics: Gaining traction for infectious disease testing and personalized medicine applications.
- Dipsticks: Offer simple and inexpensive solutions for basic urinalysis and other point-of-care tests.
- By Product:
- Glucose Monitoring: The largest product segment, driven by the growing diabetic population and increasing awareness of self-management.
- Cardiometabolic Monitoring: Encompasses cholesterol testing, HbA1c monitoring, and other tests for managing cardiovascular health.
- Infectious Disease Testing: Rapidly growing segment due to the need for immediate diagnosis and control of infectious outbreaks.
- Coagulation Monitoring: Plays a crucial role in managing blood clotting disorders and preventing complications.
- Pregnancy & Fertility Testing: Offers convenient and accessible options for early pregnancy detection and fertility monitoring.
- Hematology Testing: Allows for rapid assessment of blood cell counts and other hematological parameters.
- Cancer/Tumor Marker Testing: Emerging segment with potential for early cancer detection and personalized treatment options.
- Urinalysis Testing: A basic but still important POC test for various kidney and urinary tract disorders.
- Cholesterol Testing: Enables quick assessment of cholesterol levels for cardiovascular risk management.
- Drugs-of-Abuse Testing: Used in various settings for rapid detection of drug use.
- By End User:
- Hospitals & Clinics: Remain the largest users due to their high volume of patients and diverse testing needs.
- Diagnostic Centers: Providing specialized POC testing services for specific conditions or patient populations.
- Homecare/Self Testing: A rapidly growing segment driven by increased awareness, technological advancements, and the desire for patient empowerment.
- By Region:
- North America: Leads the market with established healthcare infrastructure, high technology adoption, and a large aging population.
- Europe: A mature market with stringent regulations and strong healthcare systems, facing potential economic challenges impacting growth.
- Asia Pacific: Projected to witness the fastest growth due to a large and growing population, rising healthcare spending, and government initiatives promoting medical technology adoption.
- Latin America and Africa: Emerging markets with significant future potential as healthcare infrastructure and access to technology improve.
Major players are Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., PTS Diagnostics, Nova Biomedical, QuidelCorporation, Abbott Laboratories, Siemens Healthineers GmbH, Chembio Diagnostics, Inc., Becton, Dickinson and Company, Danaher Corporation and Other Players.
Other Reports You May Like:
3D Printing Medical Device Software Market Growth
Molecular Modeling Market Growth
About US:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
We assist our clients to anticipate industrial, economic, and consumer trends to drive disruptive change by fusing global experience with local information from experts throughout the world. We bring context to strategic and tactical data by bridging approaches based on data science and field research, assisting you in addressing your most pressing problems and spotting possibilities.
Contact Us:
Akash Anand – Head of Business Development & Strategy,
info@snsinsider.com,
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND),
Website: https://www.snsinsider.com