The point-of-care (POC) diagnostics market consists of tests and devices used near patient care, providing quick results that aid clinical decisions. Growth is fueled by demand for rapid tests, chronic diseases, and technology advances. Key technologies include lateral flow assays, immunoassays, and molecular diagnostics. Home care and self-testing are also expanding the market.
Market Drivers: POC tests can significantly improve how infectious diseases are managed, especially in emerging markets and resource-limited areas. As of 2022, about 39 million people had HIV-AIDS globally, and 1. 3 million new cases were reported. Tuberculosis was the second leading cause of death from infectious agents, with 7. 5 million new cases. High-performance POC tests allow for quick diagnosis and treatment, improving patient outcomes. The growing rates of diseases like malaria, tuberculosis, and HIV are expected to increase the need for point-of-care diagnostics.
Challenges: The challenge lies in the inadequate standardization between point-of-care testing and centralized lab methods, leading to inconsistencies in results.
POC test results often differ from central lab methods due to pre- and post-analytical errors, such as incorrect sampling, insufficient patient information, and data mismanagement.
These tests, commonly performed by nurses in emergencies, can lead to misdiagnoses, affecting patient care and hindering POC testing acceptance by patients and doctors.
On the basis of Product, Lateral flow assays, immunoassays, microfluidics, dipsticks, and molecular diagnostics are the platforms that make up the point-of-care diagnostics market. The market was dominated by the lateral flow tests category in 2022. since of their simplicity and lower cost compared to typical lab tests, these assays are ideal for healthcare facilities with limited resources since they allow for quick testing for a variety of illnesses.
By end user, The home care setting and self-testing segment is projected to experience significant growth, fueled by rising awareness of home care and the growing availability of advanced, easy-to-use point-of-care diagnostic products like blood glucose, cholesterol, and pregnancy tests.
By Region: North America dominated the market in 2023 with a 42.9% share, propelled by technological improvements, high healthcare spending, and an aging population. Important figures such as Abbott and BD contribute to growth. Meanwhile, Asia Pacific is set to see significant growth due to healthcare development and rising disease prevalence.
Global Point of Care Diagnostics Market Key Players:
Abbott, AccuBioTech Co., Ltd, ALPHA LABORATORIES, Anbio Biotechnology Co., Ltd., Becton Dickinson (BD), bioMérieux, Danaher Corporation, EKF Diagnostics Holdings plc., F. Hoffmann-La Roche Ltd., Nova Biomedical, Orasure Technologies, Inc., Siemens Healthcare GmbH, Spectral Medical, Inc., and others.
Global Point of Care Diagnostics Market Segmentation:
By Product: Based on the Product, Global Point of Care Diagnostics Market is segmented as; Glucose, HIV, Hep C, HPV, Hematology, Pregnancy.
By Platform: Based on the Platform, Global Point of Care Diagnostics Market is segmented as; Asthma, COPD, Other Diseases.
By Sample: Based on the Sample, Global Point of Care Diagnostics Market is segmented as; Blood, Urine.
By Purchase: Based on the Purchase, Global Point of Care Diagnostics Market is segmented as; OTC, Rx.
By End Use: Based on the End Use, Global Point of Care Diagnostics Market is segmented as; Hospitals, Homecare Settings, Other Settings.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.