$43.1 Billion Point-of-Care Diagnostics Markets by Platform, Application, Sample Type, and End User - Global Forecast to 2030

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Dublin, June 01, 2023 (GLOBE NEWSWIRE) -- The "Point-of-Care Diagnostics Market by Platform (LFA, Molecular), Application (TB, Pneumonia, Salmonellosis, Hepatitis, HIV, COVID-19, Pregnancy, Blood Glucose Monitoring, Hematology, Tumor), Sample Type (Blood, Urine), and End User - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global point-of-care diagnostics market is projected to reach $43.1 billion by 2030, at a CAGR of 5.1% from 2023 to 2030.

The growth in the point-of-care diagnostics market is mainly attributed to the rapidly growing demand for cost-efficient PoC tests, the outbreak of COVID-19, and growing funding for PoC diagnostics tests.

However, pricing pressure due to fluctuations in reimbursements restrains the growth of this market. Increasing demand for PoC diagnostics in emerging economies is expected to create opportunities in the market.

Based on offering, in 2023, the consumables segment is expected to account for the largest share of the market.

Diagnostic kits are designed to provide highly accurate results with minimal risk of user error. They are pre-packaged with all the necessary materials and reagents, ensuring that the correct amounts are used, thus reducing the risk of contamination, contributing to the segment's largest share.

Based on platform, the molecular diagnostics segment is projected to register the highest CAGR during the forecast period. The tests are commonly used for the detection of viruses such as COVID-19 and flu, while LAMP tests are used for the detection of bacteria and viruses, such as tuberculosis and human papillomavirus (HPV). These tests can provide results within 30 minutes to an hour, depending on the complexity of the test and the type of instrument used. The shorter turnaround time of test results drives the market for molecular diagnostics.

Based on application, in 2023, the blood glucose monitoring segment is expected to account for the largest share of the global point-of-care diagnostics market.

PoC devices are widely used for monitoring blood glucose levels. These devices offer reliable quantitative results and are portable, inexpensive, and easy to use, driving the segment growth. Additionally, they enable healthcare professionals to make immediate treatment decisions in response to glycemic fluctuations in hospitalized patients and can also be used by diabetic patients at home to monitor their glucose levels frequently.

Based on sample type, in 2023, the blood sample type segment is expected to account for the largest share of the global point-of-care diagnostics market.

Blood sample testing has many benefits, such as determining infections and risks for various health conditions, monitoring the status and progression of chronic diseases, checking treatment success, and in some cases, early disease diagnosis, contributing to the largest share of the segment.

Based on end-user, in 2023, the hospital segment is expected to account for the largest share of the global point-of-care diagnostics market.

Hospitals perform various tests to diagnose medical conditions and ensure proper clinical treatment and prevention planning. Factors such as the urgency in medical decision-making, increasing healthcare expenditure, rising prevalence of healthcare-associated infections (HAIs), and the rising number of hospitals and clinics across emerging markets are driving the demand for point-of-care diagnostic kits for use in hospitals & clinics.

In 2023, North America is expected to account for the largest share of the point-of-care diagnostics market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

North America's large share is attributed to the region's highly developed diagnostics infrastructure, the trend of PoC testing, the high prevalence of chronic diseases coupled with growth in the aging population, the rising number of inpatient admissions, and the high adoption of self-testing kits among the general population.

Market Dynamics

Drivers

• Increasing Prevalence of Chronic Diseases

• Innovations in PoC Tests

• Development of CLIA-waived PoC Tests

• Lack of Skilled Technicians for Performing Lab Tests

Restraints

• Pricing Pressure Due to Fluctuations in Reimbursements

Opportunities

• Emerging Markets

• Healthcare Professionals' Increasing Preference for PoC Tests Over Other Lab Tests

Challenges

• Lack of Awareness Regarding the Use of PoC Devices

Technology Trends

• Lateral Flow Assays Containing DNA Nanostructures

• Rapid Real-time Polymerization Chain Reaction (PCR) Tests

• Smartphone-based Detection Platforms

• Nanoelectronic Biosensors in Point-of-Care Diagnostics

The key players operating in the global point-of-care diagnostics market are

• Abbott Laboratories (U.S.)

• Siemens Healthineers AG (Germany)

• QuidelOrtho Corporation (U.S.)

• F. Hoffmann-La Roche Ltd (Switzerland)

• Danaher Corporation (U.S.)

• Becton Dickinson and Company (U.S.)

• Chembio Diagnostics Inc. (U.S.)

• EKF Diagnostics Holdings plc (U.K.)

• Trinity Biotech plc (Ireland)

• Werfen (Spain)

• Nova Biomedical (U.S.)

• Sekisui Diagnostics LLC. (U.S.)

• Thermo Fisher Scientific Inc. (U.S.)

• bioMerieux S.A. (France).

Scope of the Report:

Point-of-Care Diagnostics Market Assessment - by Offering

• Consumables

• Instruments

• Software and Services

Point-of-Care Diagnostics Market Assessment - by Platform

• Lateral Flow Assays

• Molecular Diagnostics

• Other Platforms

Point-of-Care Diagnostics Market Assessment - by Application

• Blood Glucose Monitoring

• Infectious Disease Testing

• Parasitic Infection Testing

• Blood-borne Infection Testing

• Hepatitis

• HIV

• Other Blood-borne Infections

• Respiratory Infection Testing

• Influenza

• Pneumonia

• Other Respiratory Infection Testing

• Healthcare-associated Infection (HAI) Testing

• Gastrointestinal (GI) Infection Testing

• Salmonellosis

• E. Coli Infections

• Other GI Infections

• Other Infectious Disease Testing

• COVID-19 Testing

• Tumor/Cancer Markers Testing

• Pregnancy And Fertility Testing

• Pregnancy Testing

• Fertility Testing

• Cardiac Marker/Cardiac Metabolism Testing

• Cholesterol/Lipid Profile Testing

• Coagulation Testing

• Prothrombin Time (PT/INR) Testing

• Activated Clotting Time (ACT/APTT) Testing

• Other Coagulation Testing

• Hematology

• Drugs Of Abuse Testing

• Urinalysis

• Other PoC Testing

Point-of-Care Diagnostics Market Assessment - by Sample Type

• Blood Sample

• Nasopharyngeal swab

• Urine Sample

• Saliva Sample

• Other Sample Types

Point-of-Care Diagnostics Market Assessment - by End User

• Hospitals

• Home care/self-testing

• Physician Offices & Ambulatory Care Settings

• Diagnostics Laboratories

• Other End User

Point-of-Care Diagnostics Market Assessment - by Geography

• North America

• U.S.

• Canada

• Europe

• Germany

• U.K.

• France

• Italy

• Spain

• Rest of Europe

• Asia-Pacific

• China

• Japan

• India

• Rest of Asia-Pacific

• Latin America

• Brazil

• Rest of Latin America

• Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/eqp7vp

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