Point-Of-Care Diagnostics Market Is Growing At A CAGR Of 11.41% From 2024 To 2030 By Exactitude Consultancy

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Point-of-Care Diagnostics Market1

The Exactitude Consultancy Point-of-Care Diagnostics Market Report – Size, Trends, and Forecast 2024-2030

The Point-of-Care Diagnostics Market is experiencing high demand due to the growing need for rapid, accurate, and accessible diagnostic testing solutions. ” - Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 29, 2024 /EINPresswire / -- Market Overview:

The increase in chronic disease prevalence and a number of beneficial programs run by governmental and non-governmental organizations are responsible for the growth of the point of care diagnostics market globally. However, the market expansion is somewhat constrained by the strict government regulations regarding POC diagnostic device approval and reimbursement issues. Additionally, the development of home-based point-of-care (POC) devices and the technological advancement in Point of Care (POC) diagnostic equipment present new prospects for market expansion in the years to come. Another important factor influencing the growing demand for these devices among patients and healthcare providers in the market is the growing focus of market players on developing and introducing products with cutting-edge technology and features in various testing kits, such as hematology, infectious disease, and urinalysis testing kits.

The Point-of-Care Diagnostics Market is anticipated to grow from USD 26.4 billion in 2024 to USD 69.9 billion by 2030, at a CAGR of 11.41% during the forecast period.

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In addition to answering these critical questions, the report offers a forward-looking perspective, providing insights into the future trajectory of the Point-of-Care Diagnostics market. It equips decision-makers with the knowledge needed to navigate the market's evolution during the forecasted period effectively.

The Top Key Players profiled in the report:

Abbott, Roche, Siemens, Danaher, Becton, Dickinson and Company, Johnson & Johnson, F. Hoffmann-La Roche Ltd., Nova Biomedical, Biomrieux SA, and Sinocare Inc.

Recent Developments for Point of Care Diagnostics Market:

In January 2022, Roche launched its Cobas Pulse System in select countries accepting the CE Mark. This is Roche Diagnostics' newest generation of connected point-of-care solutions for professional blood glucose management.
October 2022 - F. Hoffmann-La Roche Ltd announced the launch of SARS-CoV-2 Rapid Antibody Test 2.0 for point-of-care settings which has the sensitivity of 95.83%.

This Point-of-Care Diagnostics research report sheds light on the major market players who are thriving in the market. Track business strategy, financial status and upcoming products.

North America garnered the major share by 2030-

In terms of market share, North America led the world in 2020, accounting for nearly two-fifths of the total revenue generated by point-of-care diagnostics. This dominance is anticipated to continue throughout the forecast period. The Asia-Pacific area would exhibit the highest CAGR of 7.8% from 2024 to 2030 at the same time. The rise in chronic and targeted disorders, such as diabetes, cancer, and other conditions, and the development of healthcare systems are the reasons for the growth.

Top Trends:

Miniaturization and Portability: The trend towards smaller, portable, and handheld diagnostic devices has revolutionized point-of-care diagnostics, enabling on-the-spot testing without the need for specialized laboratories.

Integration of Connectivity: Many point-of-care devices now feature connectivity options, allowing seamless data transfer to electronic health records and healthcare professionals, enhancing patient care and real-time monitoring.

Multiplexing Capabilities: Modern diagnostics are increasingly able to perform multiple tests on a single platform, enabling comprehensive disease screening and reducing the need for multiple devices.

Biomarker Identification: Advancements in biomarker research have led to the development of tests that offer early detection and personalized treatment options, driving precision medicine forward.

Segmentation Analysis

The glucose monitoring kits segment to maintain its lion's share throughout the forecast period

By product, With over two-fifths of the global point-of-care diagnostics market, the glucose monitoring kits segment held the majority share and is expected to continue holding this position for the duration of the forecast period. The rise in target disease incidence, including diabetes, is blamed for the growth. Conversely, the market for testing kits for infectious diseases is expected to grow at the fastest rate of 12.7% over the projected period. This can be attributed to the rise in infections, such as HIV, COVID-19, flu, and hepatitis.

Blood Segment Held Dominant Share Due to Effective Diagnosis Of Various Diseases

The market is divided into categories based on the sample, including blood, urine, and swabs from the nose and throat. The blood segment accounted for the majority of the segment because blood tests enable medical professionals to properly diagnose patients for a number of illnesses, such as HIV/AIDS, coronary artery disease, and problems with the kidney, liver, and thyroid.

Point-of-Care Diagnostics Market Segmentation Analysis:

Point-Of-Care Diagnostics Market by Product, 2019-2028, (In USD Million)

Glucose Monitoring Products

Strips

Meters

Lancets & Lancing Devices

Combination Therapy Equipment

Cardiometabolic Monitoring Products

Cardiac Marker Testing Products

Blood Gas/Electrolyte Testing Products

HBA1C Testing Products

Infectious Disease Testing Products

Influenza Testing Products

HIV Testing Products

Hepatitis C Testing Products

Sexually Transmitted Disease Testing Products

Healthcare-Associated Infection Testing Products

Respiratory Infection Testing Products

Tropical Disease Testing Products

Other Infectious Disease Testing Products

Coagulation Monitoring Products

PT/INR Testing

ACT/APTT

Pregnancy & Fertility Testing Products

Pregnancy Testing Products

Fertility Testing Products

Tumor/Cancer Marker Testing Products

Urinalysis Testing Products

Cholesterol Testing Products

Hematology Testing Products

Drugs-Of-Abuse Testing Products

Fecal Occult Testing Products

Other POC Products

Point-Of-Care Diagnostics Market by Platform, 2019-2028, (In USD Million)

Lateral Flow Assays

Dipsticks

Microfluidics

Molecular Diagnostics

Immunoassays

Point-Of-Care Diagnostics Market by Mode of Purchase, 2019-2028, (In USD Million)

Prescription-Based Products

OTC Products

Point-Of-Care Diagnostics Market by End User, 2019-2028, (In USD Million)

Clinical Laboratories and Outpatient Healthcare & Ambulatory Care Settings

Hospitals/Critical Care Centres

Home Care Settings

Other End Users

This report caters to a wide audience, from industry experts seeking insights into the dynamic Point-of-Care Diagnostics market to newcomers looking for guidance. Customization options are available to ensure the report's relevance to your specific needs.

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The study also analyzes and sheds light on key aspects related to the market's growth and opportunities in different geographies:

Regions witnessing a rise in investments in supply chain networks.
Countries that have benefited from recent import and export policies.
Regions experiencing a decline in consumer demand due to economic and political upheavals.
Point-of-Care Diagnostics Markets expected to emerge in specific geographies.
Regions likely to lose market share due to pricing pressures.
Leading players expected to expand their footprints in the near future.
Sustainability trends impacting the logistics and supply chain dynamics in the Point-of-Care Diagnostics
Demographic and economic environments creating new demand in developing economies.
Changing government regulations and their impact on business strategies and practices.

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Customization services available with the report:

20% free customization.
Five Countries can be added as per your choice.
Five Companies can add as per your choice.
Free customization up to 40 hours.
Post-sales support for 1 year from the date of delivery.

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Exactitude Consultancy is a Market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our professional team works hard to fetch the most authentic research reports backed with impeccable data figures which guarantee outstanding results every time for you. So, whether it is the latest report from the researchers or a custom requirement, our team is here to help you in the best possible way.

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