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How Is The Point-of-Care Diagnostics Devices And Equipment Market Size Likely To Evolve From 2025 Through 2034?
The market valuation for point-of-care diagnostics instrumentation and apparatus has experienced a swift expansion lately, projected to escalate from a base of $57.3 billion in the year 2024 to reach $64.11 billion by 2025, reflecting an annual growth pace compounded at 11.9%; this historical upward trend stems from factors such as the emergence of infectious disease episodes, the desire for patient ease, servicing remote and underserved locales, and a growing emphasis on proactive healthcare measures.
Anticipation suggests that the market valuation for point-of-care diagnostics apparatus and medical instruments is poised for swift expansion in the coming years, reaching an aggregate of $102.17 billion by 2029, fueled by a compound annual growth rate (CAGR) of 12.4%; this upward trajectory in the projection interval is largely underpinned by factors such as enhanced healthcare availability, worldwide health concerns, effective oversight of long-term illnesses, and the increasing adoption of both telehealth services and remote patient supervision, while paramount shifts influencing this sector during the same period encompass the proliferation of multiplex testing methodologies, the incorporation of smartphone capabilities, the advancement of tailored medical treatments, and the ongoing development of lab-on-a-chip innovations.
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Which Drivers Are Impacting The Point-of-Care Diagnostics Devices And Equipment Market?
The global market for point-of-care (POC) devices and associated equipment is experiencing expansion primarily fueled by a greater occurrence of the targeted medical conditions. A steady worldwide escalation in the prevalence of long-term ailments such as rheumatism, diabetes, and various cancers, largely attributable to escalating obesity rates and suboptimal lifestyle habits, serves as a key catalyst propelling this market forward. To illustrate this trend, data from the IDF Diabetes Atlas, a leading Belgian entity offering exhaustive global data and analysis concerning diabetes incidence, management, and patient care, indicated in March 2022 that the worldwide count of individuals suffering from diabetes is anticipated to climb from 643 million in 2030 to a staggering 783 million by the year 2045, representing a net growth of 140 million new cases; presently, the existing population living with diabetes stands at 537 million adults, with more than three-quarters of these individuals residing in nations categorized as low- or middle-income economies.
What Are The Major Segment Categories Driving The Point-of-Care Diagnostics Devices And Equipment Market Growth?
The point-of-care diagnostics devices and equipmentmarket covered in this report is segmented –
1) By Type: Infectious disease testing kits, Cardio metabolic monitoring kits,, Cholesterol testing kits, Pregnancy and fertility tests kits, Tumor Or cancer markers, Urinalysis testing kits, Hematology testing kits, Drugs of abuse testing kits, Fecal occult testing kits, Other Types
2) By Prescription Mode: Prescription-based Testing Devices, Over-The-Counter (OTC) Testing Devices
3) By End User: Professional diagnostic centers, Hospitals/critical care centers, Outpatient healthcare Setting, Ambulatory care settings, Research laboratories, Home
Subsegments:
1) By Infectious Disease Testing Kits: HIV Testing Kits, Hepatitis Testing Kits, Malaria Testing Kits, Influenza Testing Kits, COVID-19 Testing Kits, Other Infectious Disease Testing Kits
2) By Cardio Metabolic Monitoring Kits: Blood Glucose Testing Kits, Blood Pressure Monitoring Kits, Lipid Testing Kits, Other Cardio Metabolic Monitoring Kits
3) By Cholesterol Testing Kits: Total Cholesterol Testing Kits, HDL Cholesterol Testing Kits, LDL Cholesterol Testing Kits, Triglyceride Testing Kits
4) By Pregnancy and Fertility Test Kits: Pregnancy Test Kits, Ovulation Test Kits, Fertility Monitoring Kits
5) By Tumor Or Cancer Markers: Prostate-Specific Antigen (PSA) Test Kits, Human Epidermal Growth Factor Receptor 2 (HER2) Test Kits, CA-125 Test Kits, Alpha-Fetoprotein (AFP) Test Kits, Other Cancer Marker Test Kits
6) By Urinalysis Testing Kits: Protein Testing Kits, Glucose Testing Kits, pH Testing Kits, Specific Gravity Testing Kits, Nitrite Testing Kits, Other Urinalysis Testing Kits
7) By Hematology Testing Kits: Complete Blood Count (CBC) Kits, Hemoglobin Testing Kits, Hematocrit Testing Kits, Platelet Count Kits, Other Hematology Testing Kits
8) By Drugs of Abuse Testing Kits: Marijuana Testing Kits, Cocaine Testing Kits, Opioid Testing Kits, Amphetamine Testing Kits, Other Drugs of Abuse Testing Kits
9) By Fecal Occult Testing Kits: Stool Blood Test Kits, Occult Blood Screening Kits, Other Fecal Occult Testing Kits
10) By Other Types: Glucose Monitoring Kits, Temperature Monitoring Kits, Oxygen Saturation Monitoring Kits, Other Specialty Point-of-Care Kits
What Are The Major Trends Driving The Growth Of The Point-of-Care Diagnostics Devices And Equipment Market?
The increasing adoption of over-the-counter (OTC) testing is emerging as a significant factor fueling the expansion within the point-of-care diagnostics sector. Authorization from the FDA has been granted for OTC test kits covering conditions such as cholesterol levels, the presence of fecal occult blood, pregnancy status, and screening for HIV/HCV. This accessibility enhancement is projected to facilitate quicker identification of illnesses. Throughout the projection timeline, revenue streams from these disposable testing units are anticipated to surpass those from tests requiring a prescription, a trend attributed to their user-friendliness, the growing preference for home-based healthcare and self-monitoring, coupled with wider distribution and increased acceptance.
Who Are The Primary Competitors In The Global Point-of-Care Diagnostics Devices And Equipment Market?
Major companies operating in the point-of-care diagnostics devices and equipment market include Abbott Laboratories, F. Hoffmann-La Roche AG, Siemens Healthineers, Danaher, Beckman Coulter, Becton Dickinson and Company, Qiagen N.V., Johnson & Johnson, Alere, BioMerieux, Chembio Diagnostic Systems, Quidel Corporation, EKF Diagnostics, Trinity Biotech Plc, OraSure Technologies, Sysmex Corporation, Radiometer Medical ApS, Response Biomedical Corporation, Bio-Rad Laboratories, Illumina, Thermo Fisher Scientific Inc., LabCorp, Luminex Corporation, LifeScan, Nova, Sekisui Diagnostics, Hemocue AB, Akers Biosciences, 3D Systems Healthcare, Artec 3D, Canon Medical Systems Corporation, Carestream Health, ContextVision, CurveBeam, EchoPixel, EOS Imaging, Esaote, GE Healthcare, Hitachi Healthcare, Hologic, Intrasense, KaVo Kerr, Konica Minolta Healthcare, Materialise, Mobius Imaging, Neusoft Medical Systems, Orfit Industries, Philips Healthcare, Pie Medical Imaging, Planmed Oy, Sectra, Shenzhen Mindray Bio-Medical Electronics, Shimadzu Corporation, Varian Medical Systems, Ziehm Imaging GmbH
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What Are The Regional Market Dynamics Impacting The Point-of-Care Diagnostics Devices And Equipment Industry?
North America was the largest region in the point-of-care diagnostic devices and equipment market in 2024. Asia-Pacific was the second-largest region in the global point-of-care diagnostics devices and equipment market. The regions covered in the point-of-care diagnostics devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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