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North America Point of Care (POC) Diagnostics/Testing Market Research Report – Segmented By Product, End-User & Country (the United States, Canada and Rest of North America) - Size, Share, Trends, Growth Opportunities Assessment, COVID-19 Impact & Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1481
Pages: 148
Formats: report pdf report excel report power bi report ppt

North America POC Diagnostics Market Size (2022 to 2027)

The size of the North America POC Testing Market was worth USD 8.96 billion in 2022 and estimated to reach USD 14.21 billion by the end of 2027, with a CAGR of 9.66%.

The need for POC diagnostics is largely driven by growing illness prevalence, leading to increased demand for improved treatment and quick diagnostic services, and clinical laboratory staff shortages. The rising incidence of chronic and infectious diseases such as heart disease, hepatitis, cancer, gastrointestinal, respiratory, and sexually transmitted diseases (STDs) is driving the North America point of care diagnostics market. Furthermore, changes in lifestyle habits contribute to various medical problems, including diabetes, hypertension, and obesity, which need the use of point-of-care diagnostic equipment for diagnosis and monitoring. The North American point of care diagnostics market provides substantial development potential for both established and new product manufacturers. The point of care diagnostics market is growing due to technological advances in POC devices, the rising prevalence of infectious diseases, and increased expenditures by major companies.

The growing adoption rate of POC devices to acquire rapid findings for instant decision-making inpatient care is projected to open up lucrative growth opportunities for the market. Furthermore, regulatory measures for patient care management and the growing prevalence of various diseases are expected to drive demand for these goods in the future years. Furthermore, the growing importance of point-of-care diagnostics in environmental monitoring and public health necessitates integrating technologies that allow for seamless networking, making it even easier for healthcare providers to interpret test findings properly. Thus, in the future year, remote access integration of POC testing and their networking is projected to offer new business opportunities. Other key factors likely to drive the long-term growth of the point-of-care diagnostics market in the future include the rising prevalence of other respiratory illnesses around the world, the shift toward decentralized diagnostics, and improved access to point-of-care devices through online platforms.

For healthcare facilities with significant test volumes, these devices are expensive. This is likely to restrict the North American POC testing market expansion, particularly in emerging markets. In addition, manufacturers must submit performance data to the FDA for approval of any new POC device in the United States. POC tests developed for point-of-laboratory (POL) testing require extra onsite performance data and particular FDA recognition. The imposition of such strict rules may constitute a substantial hindrance to market expansion.

This market research report on the North America POC Diagnostics Market has been segmented and sub-segmented into the following categories:

By Product: 

  • Infectious Diseases
  • Cardiac Markers
  • Oncology Markers
  • OTC Diagnostic Tests
  • Drugs Of Abuse
  • Blood Gas Testing
  • Fertility Testing
  • Urinalysis
  • Coagulation
  • Hematology
  • Glucose Monitoring
  • Ambulatory Chemistry
  • Decentralized Clinical Chemistry 

By End-User: 

  • Clinics
  • Hospitals
  • Home Healthcare
  • Ambulatory Care Settings
  • Laboratories

By Country: 

  • The United States
  • Canada
  • Rest of North America

Regionally, North America is expected to dominate the overall market in the next five years due to premium healthcare infrastructure, established reimbursement framework, and high healthcare affordability. Moreover, high levels of awareness amongst the patient population base and the physicians associated with fast disease diagnosis are supportive in the industrial revenue.

North America presently maintains the greatest market share because of the significant concentration of important industry suppliers and favorable government efforts targeted at supporting the adoption of a patient-centric care strategy. However, with the rising incidence and prevalence of lifestyle illnesses, North America is gaining traction. More awareness of self-testing and home care goods and substantial adoption of innovative technologies are anticipated to play a vital role in driving the growth of the point of care diagnostics market in North America. Due to the rising use of sophisticated Point-of-Care (POC) diagnostics systems to identify numerous infectious illnesses. Collaborations and strategic alliances among major companies are also contributing elements to the North American region's growth. Due to rapidly growing COVID-19 cases in the United States and Canada, the area will maintain its leading position throughout the predicted years. The number of COVID-19 tests performed in this region exceeded 300 million, indicating enormous market potential.

KEY MARKET PLAYERS:

A few notable companies dominating the North American POC testing market are Abbott Laboratories, Inc., Danaher Corporation, Roche Diagnostics Limited, BioMerieux, Siemens Healthcare, Beckman Coulter, Inc., Becton, Dickinson and Company, Johnson & Johnson, Alere Inc., and PTS Diagnostics.

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