Global point of care diagnostics market

Global Point Of Care Diagnostics Market Size, Share, Growth Analysis, By Product type(Glucose Testing, Hb1Ac Testing), By End users(Clinics, Hospitals), By Platform(Lateral flow assay, Dipsticks) - Industry Forecast 2023-2030


Report ID: SQMIG35I2098 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 121 | Figures: 77

Global Point Of Care Diagnostics Market Insights

Point Of Care Diagnostics Market was valued at USD 44.9 billion in 2021 and is poised to grow from USD 45.4 billion in 2022 to USD 75.14 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).

The global point-of-care diagnostics market has experienced significant growth, driven in part by the COVID-19 pandemic. Point-of-care diagnostics refers to medical tests conducted near the patient, providing rapid results and enabling immediate treatment decisions. This approach has been crucial in managing the spread of COVID-19 and diagnosing infected individuals quickly.The point-of-care diagnostics market has witnessed a surge in demand due to the need for rapid and accurate testing during the pandemic. These tests include rapid antigen tests, molecular diagnostics, and serology tests, which help identify active infections and detect antibodies in individuals. The market has seen a substantial increase in product development, manufacturing, and distribution of these tests to meet the escalating demand worldwide.Furthermore, the point of care diagnostics and testing market is not limited to COVID-19 alone. It encompasses a wide range of medical conditions, including infectious diseases, cardiovascular diseases, diabetes, and cancer. The convenience, speed, and accuracy of point-of-care testing have made it an invaluable tool in various healthcare settings, such as hospitals, clinics, and home care.The market for point-of-care diagnostics is expected to continue its growth trajectory beyond the COVID-19 pandemic, driven by advancements in technology, increasing awareness about early disease detection, and the rising demand for decentralized testing solutions. Additionally, ongoing research and development efforts aim to expand the range of conditions that can be diagnosed using point-of-care testing, further enhancing its utility in the healthcare industry.

US Point Of Care Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 44.9 billion

Largest Segment

Infectious Disease

Fastest Growth

Glucose Testing

Growth Rate

6.1% CAGR

Global Point Of Care Diagnostics Market ($ Bn)
Country Share for North America Region (%)
Global Point Of Care Diagnostics Market By Product Type ($ Bn)
Global Point Of Care Diagnostics Market By Product Type (%)

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Global Point Of Care Diagnostics Market Segmental Analysis

Global point of care diagnostics market is segmented based on product type, end users, and platform. Based on product type, the market is further segmented into 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, Haematology, Primary Care Systems, Decentralized Clinical Chemistry, Faeces, Lipid Testing, Cancer Marker, Blood Gas/Electrolytes, Ambulatory Chemistry, Drug of Abuse (DOA) Testing, Urinalysis/Nephrology. Based on end users, global point of care diagnostics market is further segmented into clinics, hospitals, homecare, assisted living healthcare facilities, laboratory. Based on platform, the market is segmented as lateral flow assay, dipsticks, microfluidics, molecular diagnostics, immunoassays.Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Point Of Care Diagnostics Market Analysis by Product Type:

The infectious diseases segment had the highest revenue share of more than 20%. The change from centralised to decentralised point-of-care diagnostics for infectious diseases has resulted in better patient care. Increased demand for rapid tests is driving the point of care diagnosis market, prompting industry players to supply solutions to decentralised regions.
While the diabetes testing segment had the second-highest revenue share. Rising incidence of diabetes, combined with the need for regular monitoring of blood sugar levels is boosting the segment expansion. According to International Diabetes Federation figures, the global prevalence of diabetes will rise from 382 million in 2013 to 592 million in 2035. Diabetes prevalence and the introduction of portable diagnostic equipment are predicted to drive market growth from 2022 to 2030. During the projection period, the cardiovascular biomarkers segment is expected to increase significantly. Millions of patients visit the emergency room each year with symptoms of a heart attack. Cardiovascular disease accounts for around 31% of all deaths. Players are expecting future demand and planning product development strategies appropriately. Some of the key drivers of this segment are the high accuracy rates associated with these markers and the increasing prevalence of target diseases. Furthermore, the market is likely to see substantial growth in adoption rates in established regions such as North America and Europe.

Global Point Of Care Diagnostics Market By Product Type, 2021 (%)

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Global Point Of Care Diagnostics Market Regional Insights

North America emerges as the dominating region in the global point-of-care diagnostics market. The country boasts a robust healthcare system, advanced infrastructure, and a strong presence of key market players. The United States has been at the forefront of point-of-care diagnostics, with significant investments in research and development, resulting in the development of innovative technologies and solutions. The country's large population, high healthcare expenditure, and favourable reimbursement policies have contributed to the dominance of the United States in this market. Moreover, the early adoption of point-of-care diagnostics in various healthcare settings, including hospitals, clinics, and home care, has further solidified its position as the leading region in the global market.

 

Asia Pacific is emerging as the fastest growing region in the global point-of-care diagnostics market. The region's rapid growth can be attributed to factors such as increasing healthcare expenditure, rising awareness about early disease detection, and the growing demand for decentralized testing solutions. Countries like China, India, and Japan are witnessing significant market expansion due to their large population base and the increasing prevalence of chronic diseases. Moreover, advancements in healthcare infrastructure, expanding access to healthcare services, and government initiatives to improve healthcare delivery have further propelled the growth of point-of-care diagnostics in the region. With a rising focus on improving healthcare outcomes and addressing the need for rapid and accurate diagnostics, the Asia Pacific region is expected to continue experiencing substantial growth in the coming years.

Global Point Of Care Diagnostics Market By Geography, 2023-2030
  • Largest
  • Fastest

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Global Point Of Care Diagnostics Market Dynamics

Point Of Care Diagnostics Market Driver

Rising Incidence of Chronic and Infectious Diseases Drives Demand for Point of Care Diagnostics

  • Globally, there has been a significant increase in the occurrence of chronic diseases such as cardiovascular problems, diabetes, and numerous infectious diseases. One of the primary factors driving demand for point-of-care diagnostics during the forecast period is the rising occurrence of such disorders. According to the United Nations, about 38 million individuals have HIV/AIDS in 2019. There were 1.8 million youngsters and 36.2 million adults among them. Furthermore, human respiratory syncytial virus (RSV) is one of the most common viruses responsible for respiratory tract infections. According to the CDC, 4-5 million children worldwide suffer respiratory syncytial virus (RSV) lower respiratory tract infection each year. Similarly, according to the IDF Diabetes Atlas, 206.0 million adults worldwide had diabetes in 2021. Furthermore, the global adult diabetic population is projected to hit 643 million by 2030 and 783 million by 2045.

Point Of Care Diagnostics Market Restraint

Inconsistency with Definitive Central Lab Methods

  • Due to a high number of pre- and post-analytical mistakes, point of care test findings are not properly aligned with central lab procedures. Unsuitable indications for the performance of the test, inappropriate sampling times and techniques, an insufficient information about patient conditions, and other variables such as fasting before functional tests or differences in posture/position during similar tests are examples of pre-analytical errors for point of care testing. Post-analytical errors, on the other hand, include insufficient technical validation, incorrect result assignment, and data storage issues. Point of care testing is frequently used in emergency scenarios to aid with clinical decision-making. These tests are frequently performed by nurses or clinical team members rather than physicians. Such circumstances can result in incorrect order and result documentation. These issues have the chance of leading to incorrect diagnoses and have an impact on the quality of care provided to patients. Considering these concerns, patients and doctors may decide not to go for point of care testing. This is one of the most significant barriers to increased acceptance of point of care testing. 

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Global Point Of Care Diagnostics Market Competitive Landscape

The global point of care diagnostics market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For instance, in December 2018, Anteo Diagnostics (Australia) and Shanghai GeneoDx Biotechnology (China) announced an agreement to market, sell, and distribute Anteo’s range of AnteoBind products in China The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students.

Top Players in Global Point of Care Diagnostics Market

  • Abbott Laboratories
  • Siemens Healthineers AG
  • PTS Diagnostics
  • Roche Diagnostics (Switzerland)
  • Danaher Corporation (US)
  • Becton, Dickinson and Company (US)
  • Quidel Corporation (US)
  • BioMérieux SA (France)
  • Sysmex Corporation (Japan)
  • Thermo Fisher Scientific Inc. (US)
  • Johnson & Johnson (US)
  • bioMérieux SA (France)
  • Nova Biomedical (US)
  • Alere Inc. (US)
  • Beckman Coulter, Inc. (US)
  • Hologic, Inc. (US)
  • Cepheid (US)
  • Ortho Clinical Diagnostics (US)
  • Bio-Rad Laboratories, Inc. (US)
  • Trividia Health (US)
  • Chembio Diagnostic Systems, Inc. (US)

Point Of Care Diagnostics Market Recent Developments

In March 2022, Visby Medical announced to receive funding of USD 25.5 million from the U.S. Biomedical Advanced Research and Development Authority in order to develop a rapid flu-COVID-19 PCR test for home use. At present, the test is in the under-developing phase and the design is ready as a PCR device that can detect COVID-19, influenza A, and B from a single sample.

March 2022, Canada-based Company, bioLytical Laboratories Inc. received CE marking for the iStatis COVID-19 Antigen Home Test.

April 2021, Siemens Healthineers obtained CE marking for AtellicaVTLi Patient-Side Immunoassay Analyzer. It is one of the first technologies in the industry that aims to enhance the patient care paradigm and offers hs-cTnI results that assist in the diagnosis and treatment of heart attacks.

Global Point Of Care Diagnostics Key Market Trends

Technological Advancements in Point of Care Diagnostic

  • Major market participants have increased their focus on the use of new technologies such as artificial intelligence in the production of efficient point of care diagnostics. Significant breakthroughs in point of care testing devices have resulted from lab-on-a-chip platforms, wearable technologies, and smartphone-based technology innovations. Cloud-based Intelligent systems have cleared the way for future revolutions. Miniaturization in chip technology, microfluidics, and novel biosensors has influenced the creation of new diagnostic systems. One of the key drivers of POCT is lab-on-a-chip technology, notably in infectious illness detection. Microbiological culture, enzyme-linked immunosorbent assays (ELISA), and polymerase chain reaction (PCR) can now be employed at the point of care thanks to lab-on-a-chip technology.

Global Point Of Care Diagnostics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global point of care diagnostics market analysis, the global point-of-care diagnostics market is poised for significant growth and holds a promising future. With advancements in technology, expanding applications, and the ongoing need for rapid and accurate testing, the market is expected to flourish. The largest segment in this market is anticipated to be infectious disease testing, driven by the demand for immediate diagnosis and treatment. Additionally, the fastest growing segment is projected to be the molecular diagnostics sector, owing to its high sensitivity and specificity. In terms of dominating countries, the United States is expected to hold a significant share in the market, owing to its robust healthcare infrastructure, continuous investments in R&D, and strong market presence of key players. The future scope of the point-of-care diagnostics market is bright, with continuous innovation, expansion of test offerings, and the increasing adoption of these technologies across various healthcare settings globally.

Report Metric Details
Market size value in 2021 USD 44.9 billion
Market size value in 2030 USD 75.14 billion
Growth Rate 6.1%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product type
    • 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, Drug-resistant TB POC, HSV POC, COVID-19, Other Infectious Diseases), Cardiac Markers, Thyroid Stimulating Hormone, Haematology, Primary Care Systems, Decentralized Clinical Chemistry, Faeces, Lipid Testing, Cancer Marker, Blood Gas/Electrolytes, Ambulatory Chemistry, Drug of Abuse (DOA) Testing, Urinalysis/Nephrology
  • End users
    • Clinics, Hospitals, Homecare, Assisted living healthcare facilities, Laboratory
  • Platform
    • Lateral flow assay, Dipsticks, Microfluidics, Molecular diagnostics, Immunoassays
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Abbott Laboratories
  • Siemens Healthineers AG
  • PTS Diagnostics
  • Roche Diagnostics (Switzerland)
  • Danaher Corporation (US)
  • Becton, Dickinson and Company (US)
  • Quidel Corporation (US)
  • BioMérieux SA (France)
  • Sysmex Corporation (Japan)
  • Thermo Fisher Scientific Inc. (US)
  • Johnson & Johnson (US)
  • bioMérieux SA (France)
  • Nova Biomedical (US)
  • Alere Inc. (US)
  • Beckman Coulter, Inc. (US)
  • Hologic, Inc. (US)
  • Cepheid (US)
  • Ortho Clinical Diagnostics (US)
  • Bio-Rad Laboratories, Inc. (US)
  • Trividia Health (US)
  • Chembio Diagnostic Systems, Inc. (US)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Point Of Care Diagnostics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Point Of Care Diagnostics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Point Of Care Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Point Of Care Diagnostics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Point Of Care Diagnostics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Point Of Care Diagnostics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Point Of Care Diagnostics Market was valued at USD 44.9 billion in 2021 and is poised to grow from USD 45.4 billion in 2022 to USD 75.14 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).

The global point of care diagnostics market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For instance, in December 2018, Anteo Diagnostics (Australia) and Shanghai GeneoDx Biotechnology (China) announced an agreement to market, sell, and distribute Anteo’s range of AnteoBind products in China The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students. 'Abbott Laboratories', 'Siemens Healthineers AG ', 'PTS Diagnostics', 'Roche Diagnostics (Switzerland)', 'Danaher Corporation (US)', 'Becton, Dickinson and Company (US)', 'Quidel Corporation (US)', 'BioMérieux SA (France)', 'Sysmex Corporation (Japan)', 'Thermo Fisher Scientific Inc. (US)', 'Johnson & Johnson (US)', 'bioMérieux SA (France)', 'Nova Biomedical (US)', 'Alere Inc. (US)', 'Beckman Coulter, Inc. (US)', 'Hologic, Inc. (US)', 'Cepheid (US)', 'Ortho Clinical Diagnostics (US)', 'Bio-Rad Laboratories, Inc. (US)', 'Trividia Health (US)', 'Chembio Diagnostic Systems, Inc. (US)'

Globally, there has been a significant increase in the occurrence of chronic diseases such as cardiovascular problems, diabetes, and numerous infectious diseases. One of the primary factors driving demand for point-of-care diagnostics during the forecast period is the rising occurrence of such disorders. According to the United Nations, about 38 million individuals have HIV/AIDS in 2019. There were 1.8 million youngsters and 36.2 million adults among them. Furthermore, human respiratory syncytial virus (RSV) is one of the most common viruses responsible for respiratory tract infections. According to the CDC, 4-5 million children worldwide suffer respiratory syncytial virus (RSV) lower respiratory tract infection each year. Similarly, according to the IDF Diabetes Atlas, 206.0 million adults worldwide had diabetes in 2021. Furthermore, the global adult diabetic population is projected to hit 643 million by 2030 and 783 million by 2045.

Major market participants have increased their focus on the use of new technologies such as artificial intelligence in the production of efficient point of care diagnostics. Significant breakthroughs in point of care testing devices have resulted from lab-on-a-chip platforms, wearable technologies, and smartphone-based technology innovations. Cloud-based Intelligent systems have cleared the way for future revolutions. Miniaturization in chip technology, microfluidics, and novel biosensors has influenced the creation of new diagnostic systems. One of the key drivers of POCT is lab-on-a-chip technology, notably in infectious illness detection. Microbiological culture, enzyme-linked immunosorbent assays (ELISA), and polymerase chain reaction (PCR) can now be employed at the point of care thanks to lab-on-a-chip technology.

North America emerges as the dominating region in the global point-of-care diagnostics market. The country boasts a robust healthcare system, advanced infrastructure, and a strong presence of key market players. The United States has been at the forefront of point-of-care diagnostics, with significant investments in research and development, resulting in the development of innovative technologies and solutions. The country's large population, high healthcare expenditure, and favourable reimbursement policies have contributed to the dominance of the United States in this market. Moreover, the early adoption of point-of-care diagnostics in various healthcare settings, including hospitals, clinics, and home care, has further solidified its position as the leading region in the global market.

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