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 Dynamics
Point of Care Testing Market Report Coverage
|Market||Point of Care Testing Market|
|Point of Care Testing Market Size 2021||USD 33.7 Billion|
|Point of Care Testing Market Forecast 2030||USD 71.7 Billion|
|Point of Care Testing Market CAGR During 2022 - 2030||8.8%|
|Point of Care Testing Market Analysis Period||2018 - 2030|
|Point of Care Testing Market Base Year||2021|
|Point of Care Testing Market Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Technology, By Prescription, By Application, By End-User, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||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.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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
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
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
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
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
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
The Middle East & Africa
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.
The market size of point of care testing market in 2021 was accounted to be USD 33.7 Billion.
The projected CAGR of point of care testing market during the analysis period of 2022 to 2030 is 8.8%.
The prominent players of the global point of care testing market include 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.
North America held the dominating point of care testing during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for point of care testing during the analysis period of 2022 to 2030.
Growing prevalence of infectious diseases, surging favorable government policies, and increasing number of CLAI-waived POC tests drives the growth of global point of care testing market.
Based on product, infectious diseases segment is expected to hold the maximum share point of care testing market.