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Global Point of Care Diagnostics Market (POC Testing Market) Size, Share, Trends, COVID-19 Impact and Growth Analysis Report – Segmented By Product, End-User and Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1480
Pages: 165
Formats: report pdf report excel report power bi report ppt

Global Point of Care Diagnostics Market Size (2022 to 2027)

As per our report, the global point of care (POC) diagnostics market size is estimated to be growing at 9.76% CAGR during the forecast period. The global POC testing market is predicted to grow to USD 39.69 billion by 2027 from USD 24.92 billion in 2022.

Point-of-care testing (POCT) is medical diagnostic testing at or near the point of care—that is, at the time and place of patient care. Point-of-care tests are simple medical tests that can be performed at the bedside. The driving notion behind POCT is to bring the test conveniently and immediately to the patient. It increases the likelihood that the patient, physician, and care team will receive the results quicker, allowing for better immediate clinical management decisions. Point-of-care diagnostics, also known as POC testing, is prevalent in enabling test results quickly and accurately. These are user-friendly, where one can take the decentralized healthcare industry trend, enabling remote patient care, early diagnosis, and cost savings.

The coupling of POCT devices and electronic medical records enables test results to be shared instantly with care providers. Using mobile devices in the healthcare setting also allows the healthcare provider to access patient test results from a POCT device quickly. For example, a reduction in morbidity and mortality has been associated with rapid turnaround times from a study using the i-STAT to analyze blood lactate levels after congenital heart surgery.

POCT has become established worldwide and finds vital roles in public health. Potential operational benefits include more rapid decision-making and triage, reduced operating times, high dependency, postoperative care time, emergency room time, number of outpatient clinic visits, number of hospital beds required, ensuring optimal use of professional time, and reduced antimicrobial medication. Tests performed at the point of care allow for a more efficient workflow process. Rapid test results enable expeditious decision-making and treatment. Portable devices are used, which means less space is required, and there’s a lot of flexibility in moving the workspace.

MARKET DRIVERS:

The growing need for immediate test results and growing market penetration of EHR (Electronic Health Records) and PACS (Picture Archiving and Communication Systems) are majorly propelling the global point-of-care diagnostics market growth.

Adoption of sedentary lifestyles, unhealthy eating habits, and environmental factors are expected to surge the growth rate of the POC diagnostics market. Furthermore, the growing demand for more efficient, easy-to-use, and faster consumer devices and these portable personal care devices is fuelling the global POC testing market growth. In addition, new product launches of home-testing cancer kits at regular intervals and enhanced laboratories due to the integration of automation techniques in healthcare are estimated to boost market growth.

Increasing R&D activity to introduce new POC tests and devices for rapid disease detection and monitoring drives the progress of the point-of-care diagnostics industry. Recently in February 2018, Siemens Healthineers gained FDA approval (Food and Drug Administration) for total carbon dioxide (TCO2) and blood urea nitrogen (BUN) POC testing, increasing its market presence.

Also, the high prevalence of chronic illnesses and cancers means that a large customer base deploys cheap and instant diagnostic tests, driving the point-of-care diagnostics /testing market. It is complemented by several cheap initiatives to facilitate POC tests in diagnostic and screening procedures.

MARKET RESTRAINTS:

A major factor restraining the POC testing market demand is the lack of skilled people in manufacturing the kits with the latest design in some areas. In addition, the cost is a roadblock factor, as laboratory testing tends to be less expensive than POC testing. Providers typically require the support of a laboratory to meet quality and accreditation requirements. Quality assurance can be rigorous testing performed by clinical staff rather than individuals that have been laboratory trained. Errors could arise if the team does not understand the importance of quality control and quality assurance practices.

Impact of COVID-19 on the global POC diagnostics market:

The recent eruption of SARS -CoV-2 posed a significant risk to global health. Due to the lack of vaccines and efficient treatments, many countries have been ruined by an augmenting illness spread by increasing COVID-19 cases. Due to the pandemic crisis, Point-of-Care technologies have quickly pioneered to direct fundamental limitations facing the existing standard diagnostic procedures. However, the Point-of-care testing market declined during the growth rate. The pharmaceutical and biotechnology companies are employed in COVID-19 point-of-care testing kits for the virus diagnosis. For instance, in July 2020, Becton Dickinson declared that the U.S. (FDA) allowed Emergency Use Authorization (EUA) for fast, POC, COVID-19 diagnostic tests for use with its extensive availability of the BD Veritor Plus System. During this period, the demand and sales for these kits are scheduled to increase the market value.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Product, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This market research report on the global point-of-care diagnostics market (POC testing market) has been segmented and sub-segmented based on the product, end-user, and region.

Point of Care Diagnostics Market - 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

Based on the product, the glucose monitoring segment led the market with a significant share in 2021 due to factors such as increasing the adoption rate of portable glucose meters with each passing year and growing awareness among diabetic patients to monitor glucose levels in the blood at regular intervals. The cancer markers market segment is to grow at a high pace.

The oncology makers segment is another lucrative segment among all. It is anticipated to register a healthy CAGR during the forecast period owing to an increase in cancer cases and increasing the death of cancer due to the delay in the identification of cancer in the body. Early detection of tumors can provide a more effective treatment for the tumor patient. Point-of-care (POC) testing is used for the patient to get the result in a short period with less cost. However, these patients must need further diagnosis if the tumor is detected in this POC testing by increasing advancement in using biomarkers in POC devices to know cancer in the patient more accurately.

The cardiac maker segment is also expected to perform well during the global POPC testing market forecast period during the foreseen years. Hospitals are increasingly using rapid results for cardiac-based devices to measure cardiac biomarkers. Some groups, such as the U.K. National Institute for Health and Care Excellence and the European Society of Cardiology, have accepted similar decision-making protocols for rapidly measuring cardiac troponin. Patients suffering from chest pain undergo these tests to know the quick result of their heart condition.

Point of Care Diagnostics Market - By End-User:

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

The clinic's segment dominated the market, contributing a significant market share based on end-users. Moreover, it is to grow further during the forecast period due to market-boosting factors like the availability of portable POC devices, government initiatives, differentiation of healthcare services in different regions, and a rise in the number of CLIA-approved tests to diagnose various disorders.

The Home Health care segment is contributing a significant share of the market. It is likely to increase during the forecast period due to the emergence of economical and mobile POC testing devices and increasing demand for POC in home settings. In addition, it offers a high level of comfort to the patients.

Point of Care Diagnostics Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

The North American POC diagnostics market is the leader in accounting for the highest global POC testing market share. In 2020, the North American market was worth USD 8340 Million, and it will continue the growing trends in the years to come. Unhealthy lifestyles, a high number of chronic diseases, a rising number of FDA approvals, and government regulations related to healthcare development are the key drivers behind the growth of POC diagnostics in North America. Canada shares the largest area in this region due to increased advanced point-of-care diagnostics and people caring more about their health. In Canada, scientists at the National Microbiology Laboratory (NML) are working to support providing point-of-care (POC) diagnostic testing devices for all levels of people at an affordable price. These POC devices are used mostly for tuberculosis, chlamydia, HIV, meningitis, and gastrointestinal diseases in this area. In 2020, the Pan-Canadian COVID-19 testing and screening guide different types of testing technologies using point-of-care diagnosis. Health Canada also gets approval from the U.S. Food and Drug Administration (FDA) for point-of-care testing and self-testing kits.

The point-of-care testing market in Asia will grow at a CAGR of 10.2% during the forecast period. In the Asia Pacific, the market is expanding due to the rising prevalence of strategic initiatives taken by international players to improve healthcare infrastructure and increase awareness in developing countries. In the Asia-pacific region, the market is expanding due to the rising prevalence of strategic initiatives taken by international players to improve healthcare infrastructure. In India, the Point of care diagnostics device market is increasing due to the use of these devices in monitoring ECG, oxygen saturation, blood pressure, and temperature, and increasing advanced POC devices. Key players, such as Siemens, Roche, and Abbot, are increasing investment in manufacturing POC diagnostic devices for homes, clinics, and hospitals. These manufacturers are producing portable, easy-to-use, affordable devices for the convenience of the people. Indian scientists and entrepreneurs have made more effort to develop next-generation POC diagnostic devices based on the latest technologies, such as smartphones and cloud-based devices. Researchers are going on a cancer diagnosis which high people are suffering in India.  Nano biosensors are an excellent material for highly sensitive point-of-care (POC) cancer diagnostics. In China, the point of care (POC) market has started growing during the coronavirus period due to focusing on the healthcare system on in vitro diagnostic (IVD) and imaging testing. China has one of the largest manufacturers of these products and exports them to various countries. Government hospitals also use diagnostics. In China, the point of care (POC) market has started growing during the coronavirus period due to the healthcare system's focus on in vitro diagnostic (IVD). China has one of the largest manufacturers of these products and exports them to various countries. Government hospitals also use diagnostics test based to reduce the spread of the virus. In China, screening campaigns on targeted diseases such as HPV, prenatally evident conditions, hepatitis, and infectious emerging diseases such as avian flu and drug-resistant tuberculosis use these rapid POC tests to increase the market demand in this region.

Europe has a share of 32% due to viruses, increased adoption of advanced Point of care diagnostic devices, and increased awareness about innovative and advanced Point of care diagnostic devices. In recent years in Europe, diagnosing infectious diseases is increasing to provide treatment in t timely manner. By using this point-of-care testing, infectious diseases can be identified quickly and controlled in a short period. In Europe, this point-of-care testing is used mainly during the pandemic time. In Europe, most infectious diseases such as influenza and HIV undergo point-of-care testing rapidly to detect the infection in the person in less time.  Due to increases in the number of migrants in these regions, malaria is common. Therefore, more Europeans traveling to and from these nations may have impacted POCT for malaria. European Commission proposed using POCT for COVID-19 testing for the primary screening purpose. POCT's techniques include faster diagnosis times, improved hospital flow, and higher testing rates.

KEY MARKET PARTICIPANTS:

Notable market participants in the Global Point of Care Diagnostics Market profiled 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.

Key market players are investing more in R & D to develop innovative products and expand revenues through collaborations with other companies, research universities, and private research organizations.

Siemens Healthineers, one of the leading companies in the POC diagnostics market, presents its customizable products for in vitro diagnostic tests designed to improve workflow, efficiency, and clinical outcomes. The company offers the latest innovations in Central Laboratories' Atellica® solutions, blood gas testing during treatment, and molecular diagnostics. The RAPIDPoint® 500e Blood Gas System2 provides an improved user experience and sets a higher standard for healthcare simplicity, quality, and data security. For labs interested in expanding the reach of molecular diagnostics, the new Fast Track Diagnostics test menu from Siemens Healthineers provides a syndrome panel to improve patient care and workflow.

RECENT HAPPENINGS IN THIS MARKET:

  • In 2022, An agreement was announced between Una Health and MedTech, Siemens Healthineers for the distribution of Atellica VTLi Patient-side Immunoassay Analyser in primary care in the U.K. Una Health is high in manufacturing innovative point-of-care diagnostics and the improvement of the patient in healthcare settings.
  • The Cobas Pulse System, Roche's newest generation of connected point-of-care solutions for advanced blood glucose monitoring, was launched in 2022. This system helps the high performance and smartphone usability of blood glucose meters.
  • In 2022, Siemens Healthineers manufactured a CLINITEST Rapid COVID-19 Antigen Self-Test, approved by U.S. Food and Drug Administration for access at home.
  • In August 2018, American Association for Clinical Chemistry organized a POC certification program for testing professionals. The plan was to improve diagnostic testing in clinical laboratories.
  • In February 2018, Houston's Rice University developed a device called mHealth, a POC solution, and for this contribution, the university was awarded by the National Science Foundation. 
  • In April 2017, the FIND organization collaborated with Chembio Diagnostics Inc. in the Asia Pacific to detect life-threatening disorders with the help of Chembio's DPP platform in the Asia Pacific region.
  • In February 2016, Abbott Laboratories acquired Alere, Inc. to expand its product portfolio in POC testing devices.
  • In November 2018, Pixcell Medical developed a POC device known as HomeScreen Hematology Analyzer, which got approved by FDA (Food and Drug Administration).

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