Global Point of Care Testing (POCT) Market (By Diagnostics Segment, Mode, Platform, End Users, Region), Impact of COVID-19, Recent Developments, Company Profiles - Forecast to 2028

Global Point of Care Testing (POCT) Market (By Diagnostics Segment, Mode, Platform, End Users, Region), Impact of COVID-19, Recent Developments, Company Profiles - Forecast to 2028

The global point of care testing (POCT) market is predicted to reach nearly US$ 65 Billion by 2028. Point-of-care (POC) testing has skyrocketed in the last 20 years as demand for accurate and fast testing has blossomed both inside and outside the hospital setting. POCT or near-patient testing is a medical diagnostic test that allows physicians and medical staff to correctly attain real-time, lab-quality diagnostic results within minutes rather than hours.

Over the years, the increasing introduction of transportable, portable, and handheld instruments has resulted in the migration of POC testing from the hospital environment to a range of medical environments including the workplace, home, disaster care and most recently, convenience clinics. Furthermore, rising incidence of infectious diseases and chronic conditions such as cardiovascular diseases and diabetes in developing countries such as India and China have stimulated demand for point of care testing services. As per statistics of the International Diabetes Federation, in 2021, approximately 537 million adults (20-79 years) are living with diabetes globally, and it is estimated to reach 643 million by 2030 and 783 million by 2045. Hence, growing infectious diseases and chronic conditions will enhance the point of care testing market in the near future.

Impact of COVID-19 on Global Point of Care Testing Market

The COVID–19 outbreak has become a global stress test. The disease has infected around 596.2 million people worldwide. Globally the death toll has reached 6,456,879 according to the latest statistics from the Worldometers (as of August 16, 2022). The number is still growing, and the duration of the pandemic is still difficult to predict. The COVID-19 outbreak stirred an unprecedented public health concern across the globe and has positively impacted the point of care testing market growth.

The need for speedy diagnostic results has made point-of-care testing a vital diagnostic tool. The novel coronavirus has accelerated the research and development activities in the point-of-care diagnostics market. The usage of POC kits in COVID-19 diagnosis has increased at a significant pace owing to multiple advantages such as smaller size, portability, convenience, and precise outcomes, among others. These tests are capable of operating in any low-resource setting including home care settings and are needed to adequately combat the COVID-19 pandemic.

By Diagnostics Segment - Global Point of Care Testing Market & Forecast

Based on diagnostics segment, the point of care testing market is dominated by blood glucose testing segment. Increasing prevalence of diabetes in developing as well as developed economies and the rising inclination of patients towards home testing is the major driver that will drive segmental growth over the forecast timeframe.

The infectious diseases segment held second largest revenue share in 2021. Infectious diseases are the primary cause of mortality globally, and according to figures from the Clinical Microbiology and Infection journal, they claim over 14 million lives annually, making up around 25% of the 56 million deaths recorded worldwide. Infectious disease testing has shifted from centralized to decentralized POC testing, resulting in better patient care. The market is being driven by increased demand for quick tests, which has prompted industry players to deliver POC solutions to decentralized regions. For instance, Abbott has introduced ID NOW, the world's quickest molecular POC test, which provides COVID-19 findings in 13 minutes and is usable in a variety of decentralized healthcare settings.

Cardiac marker segment is expected to grow at a significant rate during the forecast period. The growing prevalence of cardiovascular ailments, increasing purchasing power, rise in the geriatric population, associated with high susceptibility to chronic diseases related to cardiac disorders, and economical diagnosis of chronic diseases in rural areas is expected to drive the market for cardiac markers.

By Mode - Global Point of Care Testing Market & Forecast

On the basis of mode, the point of care testing market is dominated by OTC-based testing segment. The segment is dominating the overall POCT market in 2021 as these tests are cost-effective as well as easy operative in nature. High segmental growth is attributed to rising number of OTC testing such as blood glucose tests and pregnancy tests that provides result in few seconds. These tests do not require skilled professional to perform and can be self-tested by individuals, thereby boosting the market growth. The Prescription based testing segment is expected to grow at the highest rate during the forecast period.

By Platform - Global Point of Care Testing Market & Forecast

By platform, the Lateral Flow Assays (LFA) segment accounted for largest revenue share in 2021. POC tests based on lateral flow assays are increasingly being employed to replace long, conventional laboratory processes. Lateral flow assays are simple devices used to detect the presence or absence of target analytes in samples. These assays help in detecting and quantifying analytes in complex mixtures and provide results within 30 minutes after the sample is placed on the device. The point of care testing market for immunoassays technology is expected to witness significant growth over the forecast timeframe. Rapid immunoassays improve quality of care through its performance at point of care facilities, such as student health clinics, labor and delivery suites and emergency rooms. The cost-effectiveness offered by these immunoassays will influence segment growth during the forecast period.

By End Users - Global Point of Care Testing Market & Forecast

Based on end users, the point of care testing market is segmented into Hospitals, Clinics, Laboratories, Home Care and Assisted Living Healthcare Facilities. Hospitals held majority of the point of care testing market, followed by Clinics. Increase in prevalence of chronic conditions such as cancer and cardiovascular diseases that require proper monitoring and prefer minimally invasive procedures are carried out in hospitals and clinics. The home care segment is expected to grow at the highest rate during the forecast period driven by increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.

By Region - Global Point of Care Testing Market & Forecast

The point of care testing market, by region, is dominated by North America and is expected to maintain its position throughout the forecast period. This can be attributed to rising prevalence of chronic disorders and infectious diseases, which need portable and rapid diagnosis, increasing number of product approvals, and rising government initiatives to support the adoption of POCT in this region. Europe held second highest share of the point of care testing market. Asia-Pacific point of care testing market is expected to grow at the fastest rate during the forecast period driven by growing geriatric population base, rising prevalence of target diseases, increasing demand for home healthcare and the introduction of new products enabled with advanced technologies.

iGATE RESEARCH report titled “Global Point of Care Testing (POCT) Market (By Diagnostics Segment, Mode, Platform, End Users, Region), Impact of COVID-19, Recent Developments, Company Profiles - Forecast to 2028” provides a comprehensive analysis of the Global Point of Care Testing Market.

This 270 Page report with 78 Figures and 12 Tables has been analyzed from 11 View Points:

1) Global - Point of Care Testing Market & Forecast (2010 - 2028)
2) Impact of COVID-19 on Global Point of Care Testing Market
3) Global - Point of Care Testing Market Share and Forecast (2010 - 2028)
4) By Diagnostics Segment - Global Point of Care Testing Market & Forecast (2010 - 2028)
5) By Mode - Global Point of Care Testing Market & Forecast (2010 - 2028)
6) By Platform - Global Point of Care Testing Market & Forecast (2015 - 2028)
7) By End Users - Global Point of Care Testing Market & Forecast (2010 - 2028)
8) By Region - Global Point of Care Testing Market & Forecast (2010 - 2028)
9) Global Point of Care Testing Market - Recent Developments
10) Global Point of Care Testing Market - 106 Company Profiles
11) Global Point of Care Testing Market - Growth Drivers & Challenges

By Diagnostics Segment - Global Point of Care Testing Market & Forecast

1. Blood Glucose Testing
2. Cardiac Marker Testing
3. Lipid Panel/Cholesterol Testing
4. Coagulation Testing
5. Infectious Disease Testing
6. Urinalysis Testing
7. Drug of Abuse Testing
8. Fecal Occult Blood Testing
9. Pregnancy & Fertility Testing
10. Tumor Marker Testing
11. Critical Care Testing
12. HbA1c Testing
13. Clinical Chemistry Testing
14. Bilirubin Testing
15. Hematology Testing

By Mode - Global Point of Care Testing Market & Forecast

• Prescription-based Testing
• OTC-based Testing

By Platform - Global Point of Care Testing Market & Forecast

• Lateral Flow Assays
• Immunoassays
• Microfluidics
• Dipsticks
• Molecular Diagnostics
• Others

By End Users - Global Point of Care Testing Market & Forecast

1. Hospitals
2. Clinics
3. Laboratories
4. Assisted Living Healthcare Facilities
5. Home Care

By Region - Global Point of Care Testing Market & Forecast

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

Global Point of Care Testing Market - 106 Company Profiles

1. Abbott Laboratories
2. Siemens Healthineers
3. Roche Diagnostics
4. Quest Diagnostics
5. Becton, Dickinson and Company
6. ACON Laboratories
7. Abaxis, Inc
8. Abingdon Health, Ltd
9. Access Bio, Inc.
10. AccuBioTech Co, Ltd.
11. Akers Biosciences, Inc.
12. Alfa Scientific Designs, Inc
13. American Bio Medica Corporation
14. AmniSure International
15. Aquila Diagnostic Systems, Inc
16. ARKRAY Inc
17. Artron Laboratories Inc.
18. Ascensia Diabetes Care Holdings AG
19. Immune IQ (Formerly Ativa)
20. Atlas Link Biotech Co., Ltd
21. Audit Diagnostics
22. Augurix Diagnostics
23. Autobio Diagnostics Co., Ltd
24. Axxin
25. Beckman Coulter, Inc
26. Bhat Bio-Tech India Private Ltd.
27. bioLytical Laboratories
28. BioMedomics, Inc
29. Biomerica, Inc.
30. bioMerieux SA
31. Biophor Diagnostics, Inc
32. Bio-Rad Laboratories Inc.
33. Bioscan Screening Systems, Inc.
34. Biosensia Ltd.
35. BTNX Inc.
36. Boditech Med Inc
37. Xiamen Boson Biotech Co. Ltd
38. Calypte Biomedical Corporation
39. Cepheid, Inc
40. Chembio Diagnostic Systems, Inc
41. Clarity Diagnostics, LLC
42. Confirm Biosciences
43. CTK Biotech, Inc.
44. Daktari Diagnostics
45. Danaher Corporation
46. Dexcom, Inc
47. DIALAB GmbH
48. DiaSys Diagnostic Systems GmbH
49. Diazyme Laboratories, Inc.
50. DNA Electronics Ltd. (DNAe)
51. EKF Diagnostics Holdings plc
52. ELITechGroup, Inc.
53. Eurolyser Diagnostica GmbH
54. Exact Sciences Corporation
55. Exalenz Bioscience Ltd
56. Genedrive plc
57. GeTein BioMedical, Inc.
58. Helena Laboratories
59. Hemosure, Inc.
60. Immunostics, Inc.
61. Instrumentation Laboratory
62. JAL Innovation PTE LTD
63. Jant Pharmacal Corporation
64. LamdaGen Corporation
65. LifeScan, Inc
66. LifeSign, LLC
67. MBio Diagnostics, Inc (Now LightDeck Diagnostics)
68. Medix Biochemica
69. Medtronic, Inc
70. A. Menarini Diagnostics S.R.L.
71. Meridian Bioscience, Inc
72. Nano-Ditech Corporation
73. Noble Medical, Inc
74. Nova Biomedical, Corp.
75. Oasis Diagnostics Corporation
76. OPKO Health, Inc
77. OPTI Medical Systems, Inc
78. OraSure Technologies, Inc
79. Polymed Therapeutics Inc.
80. Preventis GmbH
81. Princeton Biomeditech Corporation
82. QuantuMDx Group Limited
83. Radiometer Medical A/S
84. Response Biomedical Corp
85. Reszon Diagnostics International Sdn. Bhd.
86. Samsung Healthcare
87. Savyon Diagnostics
88. Sekisui Diagnostics LLC
89. Siloam Biosciences, Inc
90. Sysmex Corporation
91. TECHLAB, Inc.
92. Teco Diagnostics
93. Trinity Biotech PLC
94. Trividia Health
95. Tulip Diagnostics Ltd
96. Veredus Laboratories PTE Ltd
97. Vircell 98. WAMA Diagnostica
99. Wave 80 Biosciences
100. Werfen 101. Quidel Corporation
102. Thermo Fisher Scientific
103. Mesa Biotech Inc
104. GeneSTAT Molecular Diagnostics, LLC
105. Biocartis Group NV
106. Johnson and Johnson Service, Inc.

Data Source

iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.

Research Methodologies

Primary Research Methodologies:

Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.

Secondary Research Methodologies:

Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.