Point of Care Diagnostics Market (By Product: Infectious Diseases, Glucose Testing, Cardiac Markers; By End-use: Clinics, Home, Hospitals) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global point of care diagnostics market was estimated at USD 44.27 billion in 2023 and it is expected to surpass around USD 80.33 billion by 2033, poised to grow at a CAGR of 6.14% from 2024 to 2033.

Key Pointers

• North America led the market with the largest market share of 43% in 2023.
• Asia Pacific is poised to witness significant growth from 2024 to 2033.
• By Product, the infectious diseases segment contributed the largest market share of 28% in 2023.
• By Product, the cancer segment is projected to experience the highest CAGR during the forecast period.
• By End-use, the clinic end-use segment generated the maximum market share in 2023.
• By End-use, the home sector is anticipated to grow at the noteworthy CAGR from 2024 to 2033.

Point of Care Diagnostics Market Overview

Point of care diagnostics, also known as bedside testing or near-patient testing, refers to medical diagnostic testing performed outside of a traditional laboratory setting. This approach enables rapid and convenient testing, providing immediate results that aid in clinical decision-making.

The point of care diagnostics market has witnessed significant growth in recent years, driven by factors such as increasing prevalence of infectious diseases, rising demand for decentralized healthcare solutions, and advancements in technology. These diagnostics encompass a wide range of tests, including blood glucose monitoring, pregnancy testing, infectious disease screening, cardiac markers testing, and more.

Point of Care Diagnostics Market Growth Factors

The growth of the point of care diagnostics market is driven by an advancement in technology have led to the development of portable and user-friendly diagnostic devices, enabling rapid testing and immediate results. Additionally, the increasing prevalence of infectious diseases worldwide has heightened the demand for decentralized healthcare solutions, further propelling the market growth. Moreover, the COVID-19 pandemic has underscored the importance of point of care diagnostics in pandemic management, accelerating the adoption of rapid antigen tests and molecular assays. Furthermore, the emphasis on accessibility, efficiency, and cost-effectiveness in healthcare systems has fueled the demand for point of care diagnostics, driving market expansion.

Point of Care Diagnostics Market Trends:

• Rising Demand for Decentralized Healthcare: Increasing preference for decentralized healthcare solutions has spurred the adoption of point of care diagnostics, allowing for rapid testing and immediate results outside traditional laboratory settings.
• Expansion of Application Areas: Point of care diagnostics are being applied across various healthcare settings, including hospitals, clinics, ambulatory care centers, and home healthcare, catering to diverse patient needs and facilitating timely diagnosis and treatment.
• COVID-19 Pandemic Impact: The COVID-19 pandemic has accelerated the adoption of point of care diagnostics, particularly rapid antigen tests and molecular assays, for screening, surveillance, and containment efforts, highlighting their crucial role in pandemic management.
• Emphasis on Accessibility and Cost-effectiveness: Healthcare systems worldwide are prioritizing accessibility, efficiency, and cost-effectiveness, driving the demand for point of care diagnostics that offer rapid and affordable testing solutions.
• Integration of Connectivity Features: Market players are integrating connectivity features into point of care diagnostic devices, enabling seamless data transfer, remote monitoring, and enhanced connectivity with electronic health records (EHRs) for improved patient care and management.

Product Insights

Infectious diseases dominated the market, comprising 28% of global revenue share in 2023. The segment's growth is fueled by the increasing demand for rapid tests, prompting industry players to offer point of care solutions in decentralized regions and introduce innovative products. For instance, Sensible Diagnostics revealed plans in May 2023 to launch a POC PCR instrument capable of performing PCR tests within 10 minutes by 2024, with a primary focus on infectious diseases. Additionally, Abbott announced the release of ID NOW, the world's fastest molecular POC test, delivering COVID-19 results in just 13 minutes and suitable for various dispersed healthcare settings like doctor offices and urgent care clinics.

The cancer segment is projected to experience the highest CAGR during the forecast period. The increased use of markers in cancer diagnostics is the primary factor driving growth in the cancer markers segment. The rising global prevalence of cancer underscores the importance of early disease detection and is anticipated to fuel market growth. For instance, Cancer.org reported approximately 1.9 million new cancer cases diagnosed in the U.S. in 2021, resulting in 608,570 cancer-related deaths. Moreover, key market players are introducing innovative products to capitalize on untapped opportunities.

End-use Insights

The clinic end-use segment emerged as the market leader, holding the highest revenue share in 2023. Point of care diagnostics in primary care settings encompass a wide range of tests, from simple glucose testing to complex coagulation testing. Many clinics are transitioning to point of care diagnostics from traditional lab testing, which helps expedite decision-making by reducing delays in specimen preparation and transport, thereby determining the need for further tests more swiftly. Point of care diagnostics offer several advantages, including rapid availability of results, cost-effectiveness, and improved outcomes. The market has experienced rapid growth in recent years, particularly in the U.S. and European countries, driven by increased awareness of medical and organizational benefits, as well as the economic advantages of point of care diagnostics.

The home sector is poised to witness the highest growth rate over the forecast period, owing to the convenience and cost-effectiveness of point of care diagnostics delivered directly to patients at home. Point of care diagnostics in the home healthcare sector enable patients to address healthcare needs at home and make informed decisions instantly. Additionally, with the aging population being more susceptible to chronic diseases, the demand for healthcare services is expected to steadily rise in the coming years. This trend will further boost the home healthcare sector, enhancing overall access to medical care while reducing unnecessary visits, hospital admissions, readmissions, as well as the time and costs associated with traveling to healthcare providers.

Regional Insights

North America asserted its dominance in the market, capturing a significant 43% share in 2023. This strong presence can be attributed to several key factors, including the growing geriatric population and the region's higher healthcare expenditure. Additionally, technological advancements, such as the introduction of miniaturized diagnostic equipment delivering accurate and rapid results, coupled with the increasing adoption of Picture Archiving and Communication Systems (PACS) and Electronic Medical Records (EMRs), are expected to further propel market growth in the region during the forecast period. Furthermore, the market in North America benefits from the presence of key players like Abbott, BIOMERIEUX, BD, Siemens Healthineers AG, QIAGEN, Quidel Corporation, and Quest Diagnostics, whose innovations and developments contribute positively to market expansion. For instance, in April 2023, Abbott announced the U.S. FDA clearance for the reader for FreeStyle Libre 3 integrated continuous glucose monitoring system, demonstrating the region's commitment to advancing healthcare technology.

On the other hand, Asia Pacific is poised to witness significant growth in the point of care diagnostics market. Factors driving this growth include the ongoing development of healthcare infrastructure and the higher prevalence of chronic and targeted diseases such as diabetes, cancer, and infectious conditions like HIV, syphilis, and RSV across Asia Pacific countries. The adoption of point of care diagnostics in various healthcare settings such as operating rooms, emergency rooms, intensive care units, path labs, and hospitals is expected to increase due to the promise of early and efficient results. Additionally, the region benefits from a robust product pipeline, particularly in the infectious and cardiac markers segment, which is anticipated to further bolster market growth through to 2030.

Point of Care Diagnostics Market Key Companies:

• F. Hoffmann-La Roche Ltd.
• Qiagen
• Danaher Corporation
• Becton Dickinson (BD)
• bioMérieux
• Abbott
• Siemens Healthcare GmbH
• Werfen
• Nova Biomedical
• Trividia Health, Inc.
• QuidelOrtho Corporation
• Trinity Biotech
• Sekisui Diagnostics
• Orasure Technologies, Inc.
• Spectral Medical, Inc.
• EKF Diagnostics Holdings plc.
• Anbio Biotechnology Co., Ltd.
• AccuBioTech Co., Ltd
• ALPHA LABORATORIES.

Point of Care Diagnostics Market Segmentations:

By Product

• Glucose Testing
• Hb1Ac Testing
• Coagulation Testing
• Fertility/Pregnancy
• Infectious Disease
  • HIV POC
  • Clostridium Difficile POC
  • HBV POC
  • Pneumonia or Streptococcus Associated Infections
  • Respiratory Syncytial Virus (RSV) POC
  • HPV POC
  • Influenza/Flu POC
  • HCV POC
  • MRSA POC
  • TB and Drug-resistant TB POC
  • HSV POC
  • COVID-19
  • Other Infectious Diseases
• Cardiac Markers
• Thyroid Stimulating Hormone
• Hematology
• Primary Care Systems
• Decentralized Clinical Chemistry
• Feces
• Lipid Testing
• Cancer Marker
• Blood Gas/Electrolytes
• Ambulatory Chemistry
• Drug of Abuse (DOA) Testing
• Autoimmune Diseases
• Urinalysis/Nephrology

By End-use

• Clinics
• Hospitals
• Home
• Assisted Living Healthcare Facilities
• Laboratory

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)