Point of Care Testing Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Point of Care Testing Market Size accounted for USD 33.7 Billion in 2021 and is projected to occupy a market size of USD 71.7 Billion by 2030 growing at a CAGR of 8.8% from 2022 to 2030. Point-of-care testing (POCT) is a type of testing in which the analysis is carried out close to or near the patient. It has many different names, including remote testing, near-patient testing, satellite testing, and rapid diagnostics. The global point-of-care diagnostic market is driven by factors such as favorable government policies and rising prevalence of infectious diseases. In addition, rising provider consciousness and emerging markets are some of the opportunities of the point-of-care testing (POCT) market that will fuel the demand from 2022 to 2030.

Point of Care Testing Market Report Statistics

• Global point of care testing market revenue is estimated to reach USD 71.7 Billion by 2030 with a CAGR of 8.8% from 2022 to 2030
• North America point of care testing market share generated over 41% shares in 2021
• Asia-Pacific point of care testing market growth will record substantial CAGR of over 8.5% from 2022 to 2030
• According to the World Health Organization (WHO), 4.3 million cases of tuberculosis were reported in Southeast Asia in 2019
• Similarly according to the WHO, tuberculosis burden in India reported to around 2.6 billion in 2020
• Based on product, infectious diseases recorded around 20% of the overall market share in 2021
• Among prescription, OTC testing generated shares of over 60% in 2021
• Growing healthcare decentralization is a popular point of care testing market trend that is fueling the industry demand

Global Point-of-Care Testing Market Dynamics

Market Drivers

• Growing prevalence of infectious diseases
• Surging favorable government policies
• Increasing number of CLAI-waived POC tests
• Rising incidence of target conditions

Market Restraints

• Strict regulatory environment
• Insufficient adoption of POC devices in professional settings

Market Opportunities

• Growing trend of POC devices with multiplexing capabilities
• Increasing R&D investments and technological advancements in POC testing devices

Point of Care Testing Market Report Coverage

Point of Care Testing (POCT) Market Growth Factors

Increment in number of individuals experiencing infectious sicknesses and chronic conditions in developing countries, for example, China and India will support the demand and adoption rate of point of care testing molecular diagnostic services. As per the statistics published by a UK-based association, Avert, there were around 88,000 new incidence and almost 69,000 deaths because of HIV disease in India in the year 2017. Subsequently, developing commonness and consciousness of infectious illnesses will animate the development of point of care testing devices market later on.

Recent technological advancements in point of care testing devices will increase the business development in the forthcoming years. Utilization of a few unique combinations, for example, bio-sensing stages with cell phone coordinated electronic readers will give exact nearby and on-time diagnostics. With healthcare frameworks concentrating more on populace health, accuracy medication and the executives of perpetual ailment, effect of point of care testing keeps on developing, and a few noticeable point of care testing demonstrative patterns have risen in the most recent decade, increasing the market development.

High expense of the point of care testing devices will be one of the main considerations in charge of obstructing market development in the forthcoming years. The expense of individual point of care testing tests is generally higher than the tests performed on large platforms. Henceforth, surprising expense of the testing devices will result in decline in device adoption, in this way controlling the market development.

Point-of-Care Testing (POCT) Market Segmentation

The global point of care testing market is segmented based on product, technology, prescription, application, end-user, and geography.

Point of Care Testing Market By Product

• Glucose Monitoring
  • Strips
  • Meters
  • Lancets
• Cardiometabolic Testing Products
  • Cardiac Marker Testing Products
  • Blood Gas/Electrolytes Testing Products
  • HBA1C Testing Products
• Infectious Disease Testing Products
  • Influenza Testing Products
  • HIV Testing Products
  • Hepatitis C Testing Products
  • Sexually Transmitted Disease (STD) Testing Products
  • Healthcare-Associated Infection (HAI) Testing Products
  • Respiratory Infection Testing Products
  • Tropical Disease Testing Products
  • Other Infectious Diseases Testing Products
• Coagulation Testing Products
  • PT/INR Testing Products
  • Activated Clotting Time (ACT/APTT) Testing Products
• Pregnancy and Fertility Testing Products
  • Pregnancy Testing Products
  • Fertility Testing Products
• Tumor/Cancer Marker Testing Products
• Urinalysis Testing Products
• Cholesterol Testing Products
• Hematology Testing Products
• Drug-Of-Abuse (DoA) Testing Products
• Fecal Occult Testing Products
• Other Products

According to point-of-care testing industry analysis, the infectious disease sub-segment gathered a significant amount of share in 2021. Better patient care has resulted from the transition of infectious disease testing from centralized to decentralized POC testing. The substantial usage for COVID-19 POC diagnostic testing has increased in order to detect coronavirus infections. POC kits are increasingly being used in COVID-19 diagnosis due to numerous benefits such as convenience, smaller size, portability, and precise results, among others.

Point of Care Testing Market By Technology

• Lateral Flow Assays
• Dipsticks
• Microfluidics
• Molecular Diagnostics
• Immunoassays
• Agglutination Assays
• Flow-Through
• Solid Phase
• Biosensors

Molecular diagnostics holds noteworthy job in the field of microbiology. Traditional culture technique isn't useful in acquiring auspicious outcomes. Molecular testing technology permits nucleic acid detection straightforwardly through intensification and screening of test. Ongoing PCR is utilized for this reason. Industry players have been concentrating their endeavors on growing new point of care testing atomic demonstrative advances to convey quicker outcomes with high exactness and explicitness. Henceforth, increment in innovative work will increase the market development in the anticipated years.

Point of Care Testing Market By Prescription

• OTC Testing
• Prescription-Based Testing

According to the point of care testing (POCT) market forecast, the OTC testing will account for a significant portion of the market from 2022 to 2030. The segment will dominate the overall POCT market in 2021 because these tests are both cost-effective and simple to perform. In addition, the increasing number of FDA product approvals and new product launches by significant market players also contribute to the growth of this segment.

Point of Care Testing Market By Application

• Cardio Metabolic Testing
• Infectious Disease Testing
• Nephrology Testing
• Drug-of-Abuse (DoA) Testing
• Blood Glucose Testing
• Pregnancy Testing
• Cancer Biomarker Testing
• Other Applications

Based on application, the blood glucose testing occupied a considerable market share owing to the rapidly rising diabetes patients throughout the world. Diabetes' rising incidence and mortality in developing countries, changing lifestyle habits, and the world's ageing population are expected to drive segment growth in the coming years. According to the International Diabetes Federation, the worldwide prevalence of diabetes will reach 592 million by 2035.

Point of Care Testing Market By End-User

• Hospitals & Clinics
• Home-Care Settings
• Assisted Living Healthcare Facilities
• Laboratories
• Others

As per our POCT market analysis, the hospitals & clinics grabbed maximum market share starting from 2018 and is likely to continue its dominance till 2030. Because of the high incidence and prevalence of chronic and other diseases, there is a significant increase in the number of patients being hospitalized. POC tests are much more convenient for continuous monitoring of a specific analyte or for repeated/routine follow-up tests to track treatment progress.

Point of Care Diagnostics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Point of Care Testing Market Regional Analysis

In 2021, North America dominated the point of care diagnostics market, whereas Asia-Pacific region is anticipated to witness substantial growth rate during the projected timeframe from 2022 to 2030. Europe stood at the second position in the global point of care diagnostic industry. Germany overwhelmed the Europe POC testing market and was esteemed around USD 1,718.4 million in the year 2018. In the Federal Republic of Germany, purpose of-care frameworks are progressively utilized inside hospitals and medical practices. Other therapeutic offices where point of care testing is generally utilized incorporates outpatient nursing care, drug stores and home visits. Along these lines, developing reception of point of care testing the country over will drive the provincial market development.

Japan POC testing market is anticipated to develop at a CAGR of 8.7% over the projection time frame. According to the measurements distributed by the World Health Organization (WHO), in excess of 20,000 individuals were experiencing HIV and tuberculosis in Japan in the year 2016. This rising rate animates the demand for point of care testing diagnostics tests bringing about developing demand and selection rate of point of care testing gadgets in the nation.

Point of Care Testing Market Players

Some of the global point of care testing companies included in the report is Abbott Laboratories, Becton Dickinson (BD), Biomerieux SA, Danaher Corp., F. Hoffmann-La Roche Ltd., Instrumentation Laboratory, Nova Biomedical, Qiagen, Siemens Healthcare AG, Trividia Health, Inc., and Zoetis, Inc.