"Designing Growth Strategies is in our DNA"

Point of care (POC) Diagnostics Market Size, Share & COVID-19 Impact Analysis, By Product (Blood Glucose Monitoring, Infectious Diseases, Cardiometabolic Diseases, Pregnancy & Infertility Testing, Hematology Testing, and Others), By End-User (Hospital Bedside, Physician’s Office Lab, Urgent Care & Retail Clinics, and Homecare/Self-Testing), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI101072

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global point of care (POC) diagnostics market size was USD 34.49 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with POC diagnostics witnessing a positive demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a stellar growth of 86.9% in 2020. The market is projected to grow from USD 41.49 billion in 2021 to USD 36.21 billion in 2028 at a CAGR of -1.9% during the 2021-2028 period. The sudden fall in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


The demand for quality POC diagnostics kits is rapidly increasing because of the prevalence of acute and chronic diseases worldwide. According to the World Health Organization (WHO), in the year 2019, about 10 million people were affected by tuberculosis worldwide and a total of 1.4 million people died from tuberculosis in the year 2019. According to the United Nations Program on HIV/AIDS (UNAIDS), globally around 37.7 million people were living with HIV in the year 2020. Considering the above statistics, the demand for diagnosis products among patients is likely to increase in the forthcoming years, thus boosting the market growth from 2021-2028. Furthermore, technological developments in diagnostic kits have resulted in fewer manual errors and emerged as a prominent the factor driving this market. This is expected to boost the adoption of POC testing kits in emerging and lower economic countries.


Demand for POC Kits in Disease Management of COVID-19 Infection to Expand Business Prospects


Due to uncertainties regarding the duration and impact of the COVID-19 pandemic, the POC diagnostics industry is estimated to witness a strong upward trend in its growth rate. This is majorly due to the increase in the COVID-19 testing alone during the year 2020. However, there was a decline in routine testing procedures of infectious diseases, blood glucose monitoring, and others due to the pandemic. For instance, POC testing industry major player Abbott reported a segmental decline in its revenue due to the reduction in quarter-end customer bulk purchases and a decrease in average testing volumes until June 2020 and started to reach normal growth henceforth. However, the launch of COVID-19 POC diagnostics kits by companies has uplifted the revenue growth in the year 2020. For example, in October 2020, Siemens Healthineers announced the launch of the Rapid Antigen Test for the Detection of SARS-CoV-2. Hence, such novel product launches will significantly augment Point of care (POC) diagnostics market growth.


LATEST TRENDS


Request a Free sample to learn more about this report.


Integration of Nanotechnology in Rapid Diagnostics to Drive Market Growth


With the advancements in technology, it is of utmost importance that high-standard healthcare management is introduced for prompt patient care. Nanotechnology has enabled scientists to explore diverse applications in the healthcare industry. Manufacturing nanotechnology-based POC diagnostics will further boost product demand.


Several players have focused on the development of nanoparticle-based POC platforms. Nanotechnology has facilitated healthcare providers to take advantage of the distinct features of nanoparticles in the diagnosis and detection of various conditions.


For instance, In March 2020, Abbott has launched a molecular point-of-care test to detect Coronavirus within 5 minutes. It is a test to run on Abbott's POC ID NOW platform, which is a portable instrument that can be used where testing is needed most.


Therefore, it is projected that nanotechnology-based POC testing kits will boost the global POC diagnostics market growth during the forecast period.


DRIVING FACTORS


Growing Prevalence of Chronic and Infectious Disease to Fuel Demand for Rapid Diagnosis


As per the Center of Disease Control and Prevention, in 2018, the U.S. had a total number of 115,045 new syphilis cases. Such a large number of the patient population is likely to increase POC testing at various hospitals, diagnostic centers, clinics, etc. As diagnosis at the patient care results in quick turn-around time and helps rapid management of the disease, this factor is responsible for driving the market growth.


Improved Patient-Centric Care and Launch of Advanced Testing Kits to Propel Market Growth


Due to the increased burden in minimizing the number of patient populations suffering from various diseases (diabetes, infectious disease, HIV, etc.), pharmaceutical giants have become focused on introducing innovative and accurate testing kits. This is likely to boost the global market value by pushing higher sales and adoption. For example, in June 2019, Abbott announced the launch of the Afinion HbA1c Dx assay. This assay is the first-of-its-kind POC diagnostics test that the U.S. Food & Drug Administration has approved for the diagnosis of diabetes. Additionally, in February 2019, DiabetOmics announced the launch of the POC diagnostics test Lumella for preeclampsia in pregnant women accurately. Therefore, constant product launches by key players are likely to contribute to the generation of higher market revenue during the forecast period.


RESTRAINING FACTORS


Regulatory Hurdles Regarding Point of care (POC) Diagnostics Test Kits to Hinder Market Growth


Despite the higher accuracy and rapid diagnostic characteristics of the POC testing kits, stringent regulatory policies have led to setbacks in new test kits. The diagnostic test is regulated by the U.S. FDA, subject to a lengthy regulatory approval process. This means that companies have to struggle to pass through stringent policies. The imposition of some policies by the regulatory bodies on certain home-brew testing kits threatens to put a hold on the development of innovative diagnostics kits. Thus, this factor is anticipated to hamper the growth of the market in the forthcoming years.


SEGMENTATION


By Product Analysis


To know how our report can help streamline your business, Speak to Analyst


Rising Demand for Continuous Diabetes Monitoring to Surge Sales of Blood Glucose Monitoring Devices


Based on the products segment, the POC diagnostics market includes blood glucose monitoring, infectious diseases, cardiometabolic diseases, pregnancy & infertility testing, hematology testing, and others.


The blood glucose monitoring segment is expected to hold the largest market share in the forthcoming years. This is attributable to the higher sales of diabetes rapid diagnostics kits. These are available over-the-counter without a prescription and help the patient in self-testing and monitoring their glucose levels. Therefore, as the kits are readily available, they are highly preferred, subsequently increasing the product's sales. For instance, in June 2020, EKF Diagnostics has launched its new Diabetes care portfolio in the U.S. The STAT-Site WB is a dual-use whole blood β-ketone and glucose meter for professional use in the management of diabetes and provides results within 5 to 10 seconds. It can be used in point of care (POC) and Certificate of Waiver settings, such as clinics, physicians’ offices, and other non-traditional laboratory locations.


The infectious diseases segment in the market is anticipated to showcase significant growth due to the rising prevalence of various infectious diseases.


The routine testing for hematology, cardiometabolic diseases, and other segments are expected to show a decline in its growth owing to the COVID-19 outbreak. This is likely to dampen POC diagnostics industry growth during the forecast period.


By End-User Analysis


Growing Hospital Admissions to Lead Dominance of Hospital Bedside Segment


In terms of the end-user, the market is segmented into hospital bedside, physician's office lab, urgent care & retail clinics, and homecare/self-testing.


The hospital bedside segment dominated the market in 2020. This is majorly due to the rising adoption of advanced instruments by these settings, along with rapid investments by public and private sectors in hospital infrastructure in emerging countries. The Point of Care testing has been driven by the increasing miniaturization of the laboratory procedures and the instruments. This is leading to higher demand for kits and instruments by point-of-care settings in the global market.


The urgent care & clinics segment is expected to witness lucrative CAGR due to the growing number of stand-alone urgent care clinics, specifically in the emerging economies.


REGIONAL INSIGHTS


North America Point of care (POC) Diagnostics Market Size, 2020 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The global point of care diagnostic market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


The market size in North America stood at USD 14.09 billion in 2020. The region is expected to dominate due to the increasing adoption of advanced POC diagnostics solutions to detect various infectious diseases. Collaborations and strategic partnerships between the key players are also factors to contribute to the growth of the North American region. For instance, in September 2020, a global partnership was held between World Health Organization (WHO), Africa Centers for Disease Control and Prevention (Africa CDC), the Bill & Melinda Gates Foundation, the Clinton Health Access Initiative (CHAI), the Foundation for Innovative New Diagnostics (FIND), and the Global Fund. The organizations announced to provide access to COVID-19 rapid test in the low and middle-income countries.


Europe held a significant market share in 2020 due to its efforts in providing advanced rapid diagnostic solutions. For example, in November 2019, Linear Diagnostics announced an investment of USD 2.6 million to develop an optical point of care diagnostic system for sexually transmitted diseases (STDs).


The Asia-Pacific market is anticipated to witness significant growth across the forecast period owing to the rising number of market players penetrating the untrodden economies in the Asia Pacific region. Moreover, the higher adoption of POC diagnostics kits in countries such as India and China is another significant factor supporting the growth in the Asia Pacific region. For instance, In August 2021, Mylab Discovery Solutions has partnered with the U.S.-based Hemex Health for the development of next-generation diagnostic solutions for the Point of care (POC) testing of coronavirus and other diseases.


To know how our report can help streamline your business, Speak to Analyst


The Middle East & Africa and Latin America will hold a lower market revenue due to fewer investments in the R&D sector and lesser adoption rates of advanced technologies.


KEY INDUSTRY PLAYERS


Launch of Novel Products by Companies to Increase Market Competition


The global point of care diagnostics market is semi-consolidated in nature. F. Hoffmann-La Roche AG, Abbott Laboratories, and Cepheid Inc., to lead the market. Continuous investments in the research and development activities coupled with a strong portfolio of products in the point-of-care testing segment are some of the considerable factors supporting POC diagnostics companies' growth.


However, the entry of several new players poses a challenge to the semi-consolidated nature of the market and may lead to intense competition in the market during the forecast period. For instance, in July 2020, Precipio Inc. entered the POC business by initiating a partnership agreement with ADS Biotech to manufacture a lateral flow immunoassay-based COVID-19 detection test kit.


Other players such as Quidel Corporation, Danaher Corporation, bioMérieux, and BD, have considerable shares in the Point of care diagnostics industry.


LIST OF KEY COMPANIES PROFILED:



  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)

  • Thermo Fisher Scientific Inc. (Massachusetts, U.S.)

  • Abbott Laboratories (Illinois, U.S.)

  • Quest Diagnostics Incorporated (New Jersey, U.S.)

  • BD (Franklin Lakes, U.S.)

  • bioMérieux SA (Marcy l'Etoile, France)

  • Cardinal Health, Inc. (Ohio, U.S.)

  • Mesa Biotech (California, U.S.)

  • Cepheid (California, U.S.)

  • Trinity Biotech (Bray, Ireland)

  • Quidel Corporation (San Diego, U.S.)

  • Bio-Rad Laboratories Inc. (California, U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • July 2021- QuantuMDx has launched Q-POC rapid PCR point of care diagnostic system in the U.K. It offers rapid molecular diagnostic testing at the point of care that gives results in approximately 30 minutes.

  • June 2020 - Cepheid announced the development of Xpert Xpress, SARS-CoV-2/Flu/RSV, a four-in-one combination test used to detect SARS-CoV-2, Flu A, Flu B, and RSV from a single sample.


REPORT COVERAGE


An Infographic Representation of Point-of-Care Diagnostics Market

To get information on various segments, share your queries with us



 The global point of care (POC) diagnostics market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Further, the report offers insights into the POC Diagnostics market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.


Report Scope & Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD billion)



Segmentation



Product; End User; and Region



By Product




  • Blood Glucose Monitoring

  • Infectious Diseases

  • Cardiometabolic Diseases

  • Pregnancy & Infertility Testing

  • Hematology Testing

  • Others



By End-User




  • Hospital Bedside

  •  Physician’s Office Lab

  •  Urgent Care & Retail Clinics

  •  Homecare/Self-testing



By Region




  • North America (By Product, By End-User, and By Country)

    • The U.S. (By Product)

    • Canada (By Product)



  • Europe (By Product, By End-User, and By Country)

    • The U.K. (By Product)

    • Germany (By Product)

    • France (By Product)

    • Italy (By Product)

    • Spain (By Product)

    • Rest of Europe (By Product)



  • Asia Pacific (By Product, By End-User, and By Country)

    • China (By Product)

    • Japan (By Product)

    • India (By Product)

    • Australia (By Product)

    • Southeast Asia (By Product)

    • Rest of Asia Pacific (By Product)



  • Latin America (By Product, By End-User, and By Country)

    • Brazil (By Product)

    • Mexico (By Product)

    • Rest of Latin America (By Product)



  • Middle East & Africa (By Product, By End-User, and By Country)

    • GCC (By Product)

    • South Africa (By Product)

    • Rest of Middle East & Africa (By Product)





Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 34.49 billion in 2020 and is projected to reach USD 36.21 billion by 2028.

In 2020, North America stood at USD 14.09 billion.

The blood glucose monitoring segment is expected to be the leading segment in this market during the forecast period.

The increasing prevalence of chronic and infectious diseases is a key factor driving the market growth.

F. Hoffmann-La Roche AG, Cepheid Inc., and Abbott Laboratories are major players in the global market.

North America dominated the market share in 2020.

The increased burden of under-diagnosis infectious diseases and demand for POC products in emerging nations are expected to drive the adoption in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Point-of-Care Diagnostics Market Size, Share and Global Industry Trend Forecast till 2026
  • Sep, 2021
  • 2020
  • 2017-2019
  • 116

    CHOOSE LICENSE TYPE

  • $4850
    $6850
    $8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X