POINT OF CARE DIAGNOSTICS MARKET ANALYSIS
Global point of care diagnostics market is estimated to be valued at USD 4.52 Billion in 2024 and is expected to reach USD 6.91 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
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Growing geriatric population
Global geriatric population has been growing at an unprecedented rate due to increasing life expectancy and decline in birth rates. People aged 65 years and above represented about 9% of the total population in 2020 and this percentage is projected to increase to 16% of the world's population by 2050. Growing geriatric population can drive the point of care diagnostics market growth.
Older adults tend to have weaker immunity, and are more susceptible to chronic diseases like cancer, diabetes, heart diseases, and others. These people often need to get their health monitored on a regular basis. Point of care testing helps in fast diagnosis of health conditions in the comfort of homes for elderly patients without subjecting them to long waiting periods in diagnostic centers. This ensures timely treatment decisions. Moreover, many older patients have limited mobility. These find it difficult to travel long distances to hospitals or diagnostic labs for tests. Near patient testing empowers them to get tested in the comfort of their homes with just a small sample rather than undergoing invasive venous draws. It provides convenience and minimizes health risks associated with transportation.
Growing social and economic factors can also contribute to ageing of global population. Improved healthcare facilities and medical technologies have enhanced life expectancy. Changing family structures with busy lifestyles makes people dependent on themselves rather than children for support in old age. This has increased the need for convenient self-testing and remote patient monitoring solutions through digital health technologies. These tools can help manage seniors' health more effectively by reducing hospital visits and ensuring early detection of disorders common in geriatric patients. Rising burden of aging-related diseases and challenges associated with geriatric healthcare makes point of care testing an indispensable diagnostic method to address this demographic shift.
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Increasing prevalence of infectious diseases
Rising occurrences of infectious diseases can drive the point of care diagnostics market growth. Presence of various causal organisms and emergence of new pathogens threatens public health worldwide. Lack of clean water supplies and sanitation in developing countries along with increasing worldwide travel and trade can lead to spread of infectious maladies.
Prompt diagnosis is critical to curb the outbreak of contagious illnesses and prevent their transmission in the community. Traditional laboratory-based methods require transport of samples to centralized facilities and can take more than a day to yield results. This delays initiation of treatment and allows undetected spread during the gap period. Near-patient testing empowers healthcare professionals with faster diagnostic capabilities at the earliest stages of infection. It enables quick deployment of countermeasures like quarantine, contact tracing and administering necessary drugs/therapy depending on the in vitro analysis. This can curb potential epidemics at an initial stage itself before these can evolve into broader public health emergencies.
Rapid migration and cheaper international travel have led to higher chances of people getting exposed to exotic diseases in different parts of the world. Point of care assays can diagnose such infectious tropical disorders without having to send specimens to reference labs, sparing time for prompt care. These have become extremely useful diagnostic adjuncts in community health centers, physician offices, emergency departments and ambulatory surgical settings where infectious diseases are commonly encountered. Point of care testing provides a fast, convenient and reliable method to detect contagions promptly, and thus, is increasingly relied upon for combating growing onslaught of infectious pathogens.
Key Takeaways from Analyst:
Global point of care diagnostics market growth is driven by growing aging population and increasing prevalence of chronic and infectious diseases that boosts demand for rapid, portable diagnostic testing. Technological advancements enabling miniaturization and connectivity can expand the capabilities of POC devices. Meanwhile, the ability to conduct lab-accurate tests outside central labs reduces turnaround time and healthcare costs.
Reimbursement challenges as payment models gradually adapt to support widespread use of diagnostic technologies beyond central labs can hamper the market growth. Ensuring clinical validity and usability of POC tests may also require more clinical evidence and expertise in some developing markets.
North America currently dominates the market due to supportive regulatory environment and healthcare reforms favoring decentralized care models. Asia Pacific is expected to be the fastest growing region due to large untapped populations, increasing access to healthcare, and government initiatives promoting preventative healthcare. Europe will witness growth as POC testing contributes to more efficient and personalized healthcare systems.
Market Challenges: Limited technical skills
Global point of care diagnostics market growth can be hampered due to limited technical skills. As POC devices leverage advanced technologies like microfluidics, biosensors, lab-on-chip, and others, having expertise to operate these devices remains a challenge, especially in developing countries where skilled workforce is limited. This poses issues in accurate and optimal usage of these devices. Even in developed markets, shortage of trained technicians restricts scaling up of POC testing outside conventional healthcare settings like hospitals to more decentralized locations like clinics, homes and others. Device manufacturers need to simplify device design and operating process to make them more user-friendly for non-specialists. Investments are required in training and upskilling healthcare workers and community health workers in low resource settings to expand reach of POC testing. Lack of adequate skills poses risks to reliability and usability of POC devices, thus, hampering the market growth.
Market Opportunities: Growing demand for infection control in hospitals
Global point of care diagnostics market is witnessing significant opportunities, owing to growing demand for infection control and prevention measures in healthcare facilities globally. Rapid and near-patient POC testing aids in faster diagnosis and treatment of hospital-acquired infections (HAIs), which place a huge clinical and economic burden on healthcare systems worldwide. Adoption of POC tests allows timely detection of infection sources and monitoring of antibiotic resistance patterns. This helps curb the rise and spread of antimicrobial resistance as it facilitates prompt administration of appropriate antibiotics. Furthermore, decentralized testing outside main clinical laboratories reduces infection transmission risk and saves costs associated with patient transport and facility stay. Rising integration of digital tools with POC platforms also enables effective infection surveillance. POC diagnostics enable improved infection management practices in hospitals, thus, boosting increased uptake of these technologies.
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By Technology - Adoption of Point-of-Care Testing
In terms of technology, lateral flow segment is estimated to contribute the highest market share of 40% in 2024, owing to its easy portability and ability to provide quick results. Lateral flow assays are extremely popular for point-of-care testing as these simply require an analyte sample to be added to a sample pad, from where it migrates along the test strip via capillary action. Interaction with colored particles generates a visible signal within minutes, allowing for rapid diagnosis without the need for complex instrumentation. This makes lateral flow highly convenient for applications such as home pregnancy tests and glucose monitoring. Its user-friendly design has boosted uptake in non-clinical settings as well as resource-limited areas. Lateral flow technology witness huge demand from the infectious disease testing segment since it enables swift analysis of samples in field conditions or at the point-of-care.
By Application - Growing Focus on Disease Prevention and Management
In terms of application, cardio metabolic testing segment is estimated to contribute the highest market share of 32.3% in 2024, owing to growing prevalence of lifestyle diseases and focus on preventive healthcare. Conditions like diabetes, high blood pressure, and obesity have surged worldwide amid changing demographics and urbanization. Thus, there has been increasing emphasis on opportunistic screening and management of cardio-metabolic risks. Point of care tests help improve access to cost-effective monitoring solutions without the need for lab visits. This boosts uptake of portable meters and test strips for rapid testing of glucose, lipids, HbA1c, and other cardiac markers. Early detection aids clinicians in counseling patients, modifying lifestyles, and initiating timely interventions.
By End User - Increased Adoption of Healthcare Services
In terms of end user, hospitals segment is estimated to contribute the highest market share of 41% in 2024, owing to rising hospital-based outpatient and emergency care facilities. There has been notable shift towards ambulatory and decentralized healthcare models to relieve burden on tertiary care centers. This has led to higher installation of diagnostic labs, drive-through testing units, and clinical access points within hospital premises. On-site availability of near-patient testing aids fast clinical decision-making and streamlines treatment pathways especially for infectious emergencies, obstetrics & critical care cases. It also plays a key role in antimicrobial stewardship approaches by facilitating rapid pathogen identification. This drives hospitals to incorporate more POC diagnostic technologies for improved outreach as well as quality and efficiency of services.
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North America dominates the global point of care diagnostics market with an estimated market share of 40.3% in 2024. With the presence of major players like Abbott, BD, Roche and several startups, the U.S. accounts for over 45% of the entire market. The region enjoys various advantages such as an expanding geriatric population prone to chronic diseases, widespread adoption of decentralized healthcare models, and favorable reimbursement policies promoting home-based testing. North America has a highly developed pharmaceutical industry contributing to continued innovation in technologies and products. Due to supportive regulatory environment under the U.S. FDA, medical devices and diagnostic kits face faster clearance pathway, ensuring companies recover R&D investments swiftly.
Asia Pacific has emerged as the fastest growing market for point of care testing diagnostics. Countries like China, India, Japan and South Korea are industrializing healthcare at an unprecedented rate. Favorable policies around medical tourism and public-private investments have accelerated infrastructure growth. China has invested for strengthening primary care delivery outside major hospitals. This emphasis on community-level testing coupled with rising affluence has boosted demand. Regional frontrunners like Sansure Biotech from China are expanding globally through acquisitions and partnerships. These offer low-cost alternatives to Western competitors. Growing prevalence of non-communicable diseases can also drive the market growth. Due to its massive population and government momentum around universal health coverage, Asia Pacific is primed to overtake other regions in the long run.
Point of Care Diagnostics Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 4.52 Bn |
| Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
| Forecast Period 2024 to 2031 CAGR: | 6.2% | 2031 Value Projection: | US$ 6.91 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
F. Hoffmann-La Roche Ltd, Abbott Laboratories, Siemens Healthineers AG, Becton, Dickinson and Company, Qiagen Inc., Johnson & Johnson Services, Inc., Danaher Corporation (Beckman Coulter Inc.), Instrumentation Laboratory, Nova Biomedical Corporation, Biomeriux SA, GE Healthcare, Philips Healthcare, Quest Diagnostics, Fujifilm Medical, Thermo Fisher Scientific, Hologic, Canon, IDEXX Laboratories, Sysmex, QuidelOrtho |
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| Growth Drivers: |
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| Restraints & Challenges: |
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*Definition: Global point of care diagnostics market refers to medical diagnostic testing done at or near the site of patient care. This allows for rapid diagnosis and treatment decisions during the patient visit. Products in this market include blood glucose monitoring kits, pregnancy and fertility tests, influenza tests, drug-of-abuse tests, and HIV testing kits. The goal is to deliver faster results compared to standard lab tests, enabling timely clinical actions and improved health outcomes.
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About Author
Abhijeet Kale is a results-driven management consultant with five years of specialized experience in the biotech and clinical diagnostics sectors. With a strong background in scientific research and business strategy, Abhijeet helps organizations identify potential revenue pockets, and in turn helping clients with market entry strategies. He assists clients in developing robust strategies for navigating FDA and EMA requirements.
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