Global Point of Care (PoC) Diagnostics Market: Current Analysis and Forecast (2022-2028)

Global Point of Care (PoC) Diagnostics Market: Current Analysis and Forecast (2022-2028)

Point-of-care testing (POCT) allows physicians to detect and diagnose diseases at or near the patient site, faster than conventional lab-based testing. The rising prevalence of chronic diseases, rapid urbanization, and decentralization of diagnostic centers attributes to the market growth of point-of-care molecular diagnosis. For instance, as per the WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Among them, breast cancer accounted for 2.26 million cases and lung 2.21 million cases. Furthermore, increasing awareness about the early detection of infectious disease also attributes to the market growth of point-of-care molecular diagnostics.

Therefore, the increasing prevalence of infectious and rare diseases is expected to drive the global point-of-care diagnosis market at a CAGR of 7%, during the forecast period. Factors such as the growing adoption of advanced and fast diagnostic procedures are also catalyzing the growth of the PoC diagnostic market.

• Based on the product, the market has been categorized into glucose monitoring kits, infectious disease testing kits, pregnancy & fertility testing kits, hematology testing kits, cardiometabolic monitoring kits, urinalysis testing kits, cholesterol testing strips, drug abuse testing strips, and others. Among them, the infectious disease testing kits segment holds a considerable share of the market. The increasing number of infectious diseases such as pneumonia, typhoid, and tuberculosis, is responsible for the growth of the point-of-care infectious disease kit market. For instance, as per the WHO, Pneumonia accounts for 14% of all deaths of children under 5 years old, killing 740,180 children in 2019.
• Based on the end-user, the market has been categorized into hospital and critical care settings, ambulatory care settings, research laboratories, and others. Among them, the hospital and critical care settings segment holds a significant market share. The rising demand for urgent care and their requirement in the emergency department is attributed to the rising demand for point-of-care diagnostics from hospitals & critical care settings.
• For a better understanding of the market adoption of the point-of-care (PoC) diagnostics industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, North America is anticipated to hold a considerable market share. The major factors such as the availability of leading market players in the region and new product launches, especially in the United States, are attributing the growth of the point-of-care diagnostics market in the region. For instance, in November 2022, Roche announced plans for the U.S. launch of the cobas® 5800 System, a compact, fully automated molecular laboratory instrument that offers a flexible, PCR testing solution that aids clinicians in the diagnosis of infectious diseases.
• Some of the major players operating in the market are F. Hoffmann-La Roche Ltd; BD; QIAGEN; Danaher; Quidel Corporation; Siemens Healthcare GmbH; Abbott; BIOMÉRIEUX; Nova Biomedical; and NIPRO.