Global Point-of-Care Testing (POCT) Market – Industry Trends and Forecast to 2030

Global Point-of-Care Testing (POCT) Market, By Product (Glucose Monitoring Products, Cardiometabolic Testing Products, Infectious Disease Testing Products, Pregnancy and Fertility Testing Products, Tumor/Cancer Marker Testing Products, Urinalysis Testing Products, Cholesterol Testing Products, Hematology Testing Products, Drugs-of-Abuse Testing Products, Fecal Occult Testing Products, Rapid Coagulation Testing, Other POC Products), Application (Blood Transfusion, Cardiac Monitoring, Coagulation, Blood Glucose, Haematology, Non- Invasive SPO2 Monitoring, Non- Invasive PCO2 Monitoring, Whole Blood Analysis, Vital Sign Monitoring, Others), Platform (Lateral Flow Assays/Immunochromatography Tests, Dipsticks, Microfluidics, Molecular Diagnostics, Immunoassays), Prescription Mode (Prescription-Based Testing, OTC Testing), Testing Type (Immunoassays, Cell-Based Assays, Nucleic Acid Amplification Testing, Clinical Chemistry Assays, Hematology), End-User (Hospitals, Clinics, Laboratories, Home Care, Ambulatory Surgery Centers, Others), Distribution Channel (Direct Tender, Retail Pharmacies) – Industry Trends and Forecast to 2030.

Point-of-Care Testing (POCT) Market Analysis and Size

Point-of-care testing is defined as testing that may be done in close proximity to the patient and allows a medical choice to be taken immediately based on the results and monitoring. Point-of-care testing (POCT), also known as with-patient testing, allows doctors to assess accurate real-time, lab-quality diagnostic results in minutes rather than hours. It guarantees that patients get the most effective and efficient care possible, whenever and wherever they need it.                                

Data Bridge Market Research analyses that the Point-of-Care Testing (POCT) market which was USD 32.93 billion in 2022, would rocket up to USD 73.19 billion by 2030, and is expected to undergo a CAGR of  10.50% during the forecast period. “Glucose monitoring products” dominates the product segment of the point-of-care testing (POCT) market owing to the growing demand for glucose monitoring products for point-of-care testing (POCT) of diabetes. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Point-of-care testing is defined as testing that may be done in close proximity to the patient and allows a medical choice to be taken immediately based on the results and monitoring. Point-of-care testing (POCT), also known as with-patient testing, allows doctors to assess accurate real-time, lab-quality diagnostic results in minutes rather than hours. It guarantees that patients get the most effective and efficient care possible, whenever and wherever they need it.                                

POC tests are not as highly preferred as central laboratory tests because of low volume and high cost. This puts additional strain on the billing system, which must give distinct codes for POC tests. This might result in billing errors by inexperienced or newly hired employees and failure to enter data into the data management system due to mismatched test codes.            

Point-of-Care Testing (POCT) Market Dynamics

Drivers

• Rising trend in prevalence of diseases

Chronic diseases and acute infections are on the rise in developing countries, due to a lack of health awareness, poor medical infrastructure, and a sedentary lifestyle, among other causes. As a result of these circumstances, diagnosis and treatment are delayed, as the quality of care obtained. The need for point-of-care tests for rapid diagnosis is growing due to their convenience of use, cost-effectiveness, and small product size.

• Benefits related with OTC-based test

The point of care testing market for T.C. tests is expected to develop due to an increase in OTC testing such as pregnancy tests and blood glucose tests that deliver results in a matter of seconds. These examinations do not necessitate the use of a skilled specialist and may be performed by individuals themselves, propelling the industry forward. The First Response kit, for example, is a quick pregnancy test that provides a response in 60 seconds. Accu-Chek active blood glucose metre kits also give customers with readings in 5 seconds, boosting market demand.

• Increasing incidence rate of diabetes

The increasing incidence rate of diabetes is a global health concern, reflecting a growing prevalence of this metabolic disorder. Diabetes occurs when the body either doesn’t produce enough insulin or cannot effectively use the insulin it produces, leading to elevated blood sugar levels. Factrors contributing to rising incidence include sedentary lifestyles, unhealthy diets, and an aging population.

• Growing investment for healthcare facilities

Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.  

Opportunities

• Technological advancement in lateral flow assay

The industry's growth will be aided by the launch of novel products that will allow for rapid advancement in the research and development (R&D) of point-of-care testing (POCT) diagnostic tools. In addition, advances in component materials, reader technologies, reagents, and sensitivity increase have made quantitative results more possible with the use of lateral flow assay, supporting sector growth.

• Expansion in emerging markets

Emerging markets such as China, India, Brazil and other countries in Asia and Latin America are seeing significant increases in healthcare spending and access to advanced treatments. The expansion creates a favourable market environment for point-of-care testing (POCT), as these areas offer untapped potential and large patient populations.

Restraints

• High development and manufacturing costs

POCT devices and tests must meet strict regulatory requirements to ensure safety and efficacy. Navigating the regulatory landscape can be complex and time-consuming, leading to delays and increased costs in bringing new products to market. Regulatory compliance is a significant restraint for companies in the POCT industry.

• Stringent regulatory requirements

POCT devices and tests must meet strict regulatory requirements to ensure safety and efficacy. Navigating the regulatory landscape can be complex and time-consuming, leading to delays and increased costs in bringing new products to market. Regulatory compliance is a significant restraint for companies in the POCT industry.

Challenges

• Quality control and standardization

Maintaining consistent quality and standardization in POCT devices and tests can be challenging. Variability in test results can lead to diagnostic inaccuracies, affecting patient care. Ensuring the reliability and reproducibility of POCT devices remains a constraint, as standardization efforts are ongoing.

• Training and operator competency

Effective use of POCT devices often requires healthcare professionals to undergo training to ensure accurate and reliable results. Maintaining operator competency and ensuring that healthcare personnel consistently follow testing protocols can be a constraint. Inadequate training can lead to errors and misinterpretation of test results, impacting patient care.

This point-of-care testing (POCT) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the point-of-care testing (POCT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In January 2022, Roche introduced its Cobas Pulse System in select countries accepting the CE Mark. This is the latest generation of linked point-of-care solutions for professional blood glucose management from Roche Diagnostics
•  In October 2021, Thermo Fisher Scientific announced that it had received FDA Emergency Use Authorization (EUA) to run COVID-19 tests with the Spectrum Solutions SpectrumDNA SDNA-1000 collection device, a high-throughput, automated COVID-19 testing system on the Amplitude Solution, using a new saliva sample collection method

Global Point-of-Care Testing (POCT) Market Scope

The point-of-care testing (POCT) market is segmented on the basis of product, technology, prescription, application, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Glucose Monitoring Products
• Cardiometabolic Testing Products
• Infectious Disease Testing Products
• Pregnancy and Fertility Testing Products
• Tumor/Cancer Marker Testing Products
• Urinalysis Testing Products
• Cholesterol Testing Products
• Hematology Testing Products
• Drugs-of-Abuse Testing Products
• Fecal Occult Testing Products
• Rapid Coagulation Testing
• Other POC Products

Application

• Blood Transfusion
• Cardiac Monitoring
• Coagulation
• Blood Glucose
• Haematology
• Non- Invasive SPO2 Monitoring
• Non- Invasive PCO2 Monitoring
• Whole Blood Analysis, Vital Sign Monitoring
• Others

Platform

• Lateral Flow Assays/Immunochromatography Tests
• Dipsticks, Microfluidics
• Molecular Diagnostics
• and Immunoassays

Prescription Mode

• Prescription-Based Testing
• OTC Testing

Testing Type

• Immunoassays
• Cell-Based Assays
• Nucleic Acid Amplification Testing
• Clinical Chemistry Assays
• and Hematology

 End-User

• Hospitals
• Clinics
• Laboratories
• Home Care
• Ambulatory Surgery Centers
• Others

Distribution Channel

• Direct Tender
• Retail Pharmacies

Point-of-Care Testing (POCT) Market Regional Analysis/Insights

The point-of-care testing (POCT) market is analyzed and market size insights and trends are provided by country, product, technology, prescription, application, end-user and distribution channel as referenced above.

The countries covered in the point-of-care testing (POCT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America.

North America is expected to dominate the point-of-care testing (POCT) market due to the adoption of advanced technology along with prevalence of favourable reimbursement policies and improved standard of living of the people.   

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the increasing demand for the advanced diagnostic options along with rising per capita income of the people.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The point-of-care testing (POCT) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for point-of-care testing (POCT) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the point-of-care testing (POCT) market. The data is available for historic period 2010-2020.

Competitive Landscape and Point-of-Care Testing (POCT) Market Share Analysis

The point-of-care testing (POCT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to point-of-care testing (POCT) market.

Some of the major players operating in the point-of-care testing (POCT) market are:

• Abbott (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• BD (U.S.)
• Siemens Healthcare Private Limited (Germany)
• Bio-Rad Laboratories, Inc. (U.S.)
• Danaher (U.S.)
• Sekisui Diagnostics (U.S.)
• Trinity Biotech (Ireland)
• bioMérieux (France)
• EKF Diagnostics (Germany)
• AccuBioTech Co., Ltd. (China)
• Instrumentation Laboratory (U.S.)
• Beckman Coulter, Inc. (U.S.)
• PTS Diagnostics (U.S.)
• Nova Biomedical (U.S.)
• Chembio Diagnostics, Inc. (U.S.)
• Quidel Corporation (U.S.)
• Sienco, Inc (U.S.)