The Point of CARE Diagnostics Market size is expected to grow from USD 3,679.34 million in 2023 to USD 5,304.32 million by 2030, at a CAGR of 7.59% during the forecast period (2023-2030).
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Point of care (POC) diagnostics have many advantages over traditional methods as they allow patient diagnosis at different places other than only hospitals and clinics, including remote areas, such as in the physician’s office, an ambulance, the home, the field, or in the hospital.
Segmentation The Point of Care Diagnostic Market is Segmented
By Product Type
End-users :
Application :
Geography
POC Diagnostic Market report offers the value (in USD million) for the above segments.
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Mraket Driver & Restraints of the POC Diagnostic Market
The factors that are driving the growth of the studied market are the rising prevalence of chronic and infectious diseases, the increasing number of regulatory approvals for novel immunoassay techniques and technological advancements, and the rising usage of home-based POC devices. The prevalence of chronic and infectious diseases, such as diabetes, rheumatism, and malaria, is increasing globally, which is propelling the demand for POC diagnostics. For instance, in December 2022, the World Health Organization (WHO) reported that malaria is a life-threatening disease, and in the year 2021, there were an estimated 247 million cases of malaria worldwide. Similarly, in 2020 the U.S. Centers for Disease Control and Prevention, stated that approximately 95% of health centers in the U.S. provided telehealth services during the pandemic. Therefore, the expansion of remote patient monitoring systems such as PixCell Medical, a POC technology for CBC tests, is expected to positively impact the market growth.
The growing prevalence of diabetes and the introduction of portable diagnostic equipment are expected to boost segment growth. For instance, in 2021, International Diabetes Federation (IDF) reported that globally in the year 2021, a total of 536,600.0 per 10000 adults aged between (20-79) years were suffering from diabetes, and this number is expected to increase to 642,800.0 per 1000 adults by 2030 and 783,700.0 per 1000 adults by 2045. Thus, rising diabetes cases are a matter of concern, and there is increasing demand for rapid diagnostics. Thus, rising diabetes cases are increasing the demand for POC diagnostics.
The emergence of the COVID-19 pandemic has impacted the global in-vitro diagnostics market. For instance, an article published by one of the American Journal in September 2021, stated the urgent requirement to diagnose increasing COVID-19-positive patients accelerated the development of IVD kits across the UK. Thus, COVID-19 surged the demand for IVD kits and the market witnessed significant growth during the pandemic. However, in the current scenario, with the decrease in COVID-19 cases, the demand for IVD may get stabilized compared to the initial days of the pandemic but the presence of other diseases may keep on increasing the demand for IVD kits over the forecast period.
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The point-of-care diagnostics market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Some of the major players in the market are:-
Key Players :
Recent Development:
1) November 2022: UK-based LumiraDx Healthcare launched its highly sensitive C-Reactive Protein (CRP) point of care (POC) antigen test across India. The point of care CRP test can be used in multiple clinical settings to help reduce unnecessary antibiotic prescribing that leads to antimicrobial resistance (AMR).
2) October 2022: Genes2Me Pvt. Ltd launched Rapi-Q- Point of Care RT PCR solution for human papillomavirus (HPV) and tuberculosis. The device is easy to use and gives faster results in less than 45 minutes. This CE-IVD-marked POC solution delivers superior performance, high sensitivity, and stable detection.
Q1. How much is the Point of Care Diagnostics Market worth ?
The Point of CARE Diagnostics Market size is expected to grow from USD 3,679.34 million in 2023 to USD 5,304.32 million by 2030,
Q2. What is the Growth Rate of the Point of Care Diagnostics Market ?
Point of Care Diagnostics Market at a CAGR of 7.59% during the forecast period (2023-2030).
Q3. What segments are covered in the Point of Care Diagnostics Market Report ?
Point of Care Diagnostics Market Report has covered segmentation - By Product Type, Application, End User and Geography
Q4. What are the latest Development in Point of Care Diagnostics Market ?
1) November 2022: UK-based LumiraDx Healthcare launched its highly sensitive C-Reactive Protein (CRP) point of care (POC) antigen test across India. 2) October 2022: Genes2Me Pvt. Ltd launched Rapi-Q- Point of Care RT PCR solution for human papillomavirus (HPV) and tuberculosis.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
