Point-Of-Care Diagnostics Market To Grow At 10.2% CAGR Through 2029

(MENAFN- PR Newswire)

Advances in AI, Lab-on-a-Chip, and Emerging Technologies Drive the Transformation of Point-of-Care Diagnostics, Enhancing Speed, Accuracy, and Clinical Efficiency

BOSTON, Dec. 19, 2024 /PRNewswire/ -- According to the latest
BCC Research study on " Point-of-Care Diagnostics: Technologies and Global Markets, " the POC market is expected to grow from $40.6 billion in 2024 to $65.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029.

The point-of-care diagnostics market is rapidly evolving with the integration of new technologies and methodologies, offering significant potential for growth through 2029. This report explores the market landscape, examining components such as hardware (devices, equipment, consumables), software, and analytics. It also segments the market by test types, including alcohol and drug abuse, blood gas electrolyte and metabolite (BGEM), cardiac markers, cholesterol, glucose monitoring, hemoglobin/hemostasis, infectious diseases, pregnancy and fertility, tumor marker, and urine chemistry. The report includes an analysis of the global market by region, and covers the market drivers, challenges, opportunities, and industry strategies, such mergers, acquisitions, and collaborations. the report serves as a vital resource for companies targeting geographic expansion.

The transformative impact of AI in POC diagnostics is due to its ability to deliver accurate, reliable test results without requiring skilled personnel. This innovation has the potential to revolutionize healthcare access, particularly in remote or underserved regions by improving healthcare quality in these resource-limited
areas. For instance, AI-powered platforms such as Sight OLO utilize convolutional neural network (CNN) algorithms to accurately identify and count blood cells, making it a valuable tool for early disease detection. Such advances in AI-driven diagnostics not only improve healthcare accessibility but also enhance testing efficiency, broadening the reach of medical services worldwide.

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The factors driving the global market for POC diagnostics include:

Incidence of Infectious Diseases : Infectious diseases such as HIV, tuberculosis, and malaria remain widespread globally. POC diagnostics enable rapid testing and immediate results, essential for timely treatment and disease control.

Growing Prevalence of Chronic Diseases: The prevalence of chronic conditions such as diabetes, cardiovascular diseases, and cancer is rising. POC diagnostics facilitate regular monitoring outside traditional settings, increasing demand due to their convenience and need for continuous care.

Demand for Self-Testing: The trend toward self-testing for privacy and convenience is growing. Products such as home pregnancy tests, glucose monitors, and COVID-19 kits enable individuals to manage their health from home.

Global Aging Population : As the aging population grows, so does the need for frequent medical monitoring. POC diagnostics offer a convenient solution for elderly patients.

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Report Synopsis

Report Metric	Details
Base year considered	2023
Forecast period considered	2024-2029
Base year market size	$36.9 billion
Market size forecast	$65.9 billion
Growth rate	CAGR of 10.2% from 2024 to 2029
Segments covered	Test type, product type, end user, region
Regions covered	North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
Countries covered	U.S., Canada, Mexico, Germany, France, the U.K., Italy, Spain, China, India, Japan, Australia, and South Korea
Market drivers	. Incidences of infectious diseases . Growing prevalence of chronic diseases . Increasing demand for self-testing . Global aging population

Recently announced POC diagnostics diagnostics products:

1.
CytoTracker Leukometer (January 2024):

• Developed at Rutgers University.
• Rapidly counts white blood cells (WBCs) using a single drop of blood.
• Achieved 97%+ clinical accuracy.
• Could speed up sepsis detection in ERs.
• Helps cancer doctors decide on white blood count
  (WBC) stimulants for chemotherapy patients.
• Published in PLOS One journal.

2.

D3 Array–UTI
(February 2024):

• POC diagnostic technology launched by PathogenDx.
• Detects 26 pathogens and 12 antibiotic-resistance genes in urine samples.
• Provides results in 30 minutes to a few hours.
• Uses a microarray-based approach with triplicate testing.
• Offers qualitative and quantitative results with automated cloud data analysis.
• Aims to revolutionize UTI diagnostics.

The report addresses the following questions:

1.

What is the projected size and growth rate of the market?

• The global market for POC diagnostics was valued at $36.9 billion in 2023 and is expected to grow at a CAGR of 10.2% to reach $65.9 billion by the end of 2029.

2.

What segments are covered in the report?

• The market is segmented by test type, product type, end-user, and geographic region. Test types, include alcohol and drug screening, BGEM, cardiac markers, cholesterol, glucose monitoring, hemoglobin/hemostasis, infectious disease, pregnancy and fertility, tumor markers and urine chemistry. Product types include POC diagnostics technologies, and hardware and software. End-users include hospitals critical care centers, and home care settings Regions, include North America, Europe, Asia-Pacific, and the Rest of the World.

3.

Which test t ype will dominate the market in 2029?

• Glucose monitoring POC devices will dominate the market at that time.

4.

Which region has the largest market share?

• North America holds the largest share of the market.

Innovative Startups

Shenzhen Mindray Bio-Medical Electronics Co. Ltd: Mindray introduced the TEX20 Series Point of Care ultrasound system at Euroanaesthesia 2022. This system integrates imaging and physiological data through its X-Link solution, improving patient assessment, diagnosis, and treatment in critical care and emergency medicine.

GE Healthcare : In January 2023, GE HealthCare became an independent company after being spun off from GE. In February 2024, GE HealthCare launched the LOGIQ ultrasound portfolio, including the new LOGIQ Totus, an ultrasound solution that delivers high-quality imaging and AI-powered diagnostic support. This portfolio enhances precision care with AI tools, offering better imaging, efficient workflow, and Verisound digital solutions.

Market leaders include:

• Abbott
• Becton Dickinson
• Danaher Corp.
• Ge Healthcare
• F.
  Hoffmann-La Roche Ltd.
• Medtronic
• Thermo Fisher Scientific Inc.
• Siemens Healthineers Ag
• Quest Diagnostics Inc.
• Quidelortho Corp.

Related reports include:

Chronic Disease Management: Therapeutics, Device Technologies, and Global Markets : This report covers the market drivers, restraints, opportunities, and the competitive landscape, including market shares of leading companies. The market is segmented by product type (pharmaceuticals and biologics, medical devices, digital therapeutics), application (various disease categories), end user (hospitals, home care), and geographic region (North America, Europe, Asia-Pacific, Rest of the World).

Medical Devices: Technologies and Global Markets : This report covers major players, competitive intelligence, innovative technologies, and regional opportunities. It includes assessments of recent developments, product portfolios, market drivers, restraints, opportunities, and regulatory scenarios. The market is segmented by device type (e.g., drug delivery devices, IVD, cardiovascular devices), end user (hospitals, home healthcare, etc.), and geographic region (North America, Europe, Asia-Pacific, RoW), with specific country analyses. Market estimates are based on 2023 data, with projections for 2024 and forecasts for 2029.

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