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What Are the Latest Market Insights for the Point-Of-Care-Testing (POCT) Industry?
In recent times, there has been a significant expansion in the point-of-care-testing (POCT) market. The market is projected to swell from $45.45 billion in 2024 to about $50.79 billion in 2025, with a compound annual growth rate (CAGR) of 11.8%. The expansion of the market during the historical period is due to the growing emphasis on personalized medicine, escalating investments in healthcare infrastructure, an increase in emergency care instances, a surging application of point-of-care molecular testing, and the escalating integration of AI in diagnostics.
Anticipated speedy expansion in the upcoming years is predicted for the point-of-care-testing (POCT) market, with projections placing its value at $78.19 billion by 2029, yielding a compound annual growth rate (CAGR) of 11.4%. This projected growth could be fueled by various factors such as a mounting demand for individualized healthcare, increasingly prevalent telehealth and remote monitoring, improved healthcare availability in developing markets, wider application in non-standard environments, and ascending popularity of wearable diagnostic tools. Notable trends forecasted for this period include advancements in multiplex testing platforms, the creation of portable molecular diagnostic devices, innovation in smartphone-dependent diagnostic instruments, progress in data connectivity and integration, and the emergence of AI-driven POCT solutions.
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What Forces Are Driving The Growth Of The Point-Of-Care-Testing (POCT) Industry?
The escalated uptake of telemedicine is anticipated to spur the expansion of the point-of-care-testing (POCT) market. Telemedicine pertains to the act of providing healthcare services remotely, utilizing digital communication technologies like video calls, phone calls, or secure messages. Telemedicine’s popularity is on the rise due to the growing need for accessible, quick, and contactless medical services, significantly sped up by the COVID-19 outbreak. Point-of-care testing (POCT) aids telemedicine by offering swift, trustworthy diagnostic outcomes that can be instantly communicated with remote health service providers. For example, a Rock Health survey in February 2023, involving 8,014 participants from July 12 to August 22, 2022, revealed that 76% of individuals above 55 years have utilized telemedicine, and 80% of all surveyed individuals admitted to accessing care through telemedicine at least once in their lives, an increase of 8% from 72% in 2021. Therefore, the skyrocketing uptake of telemedicine is propelling the point-of-care-testing (POCT) market’s growth.
What Is The Overview Of Market Segmentation In The Point-Of-Care-Testing (POCT) Industry?
The point-of-care-testing (POCT) market covered in this report is segmented
1) By Type: Blood Glucose Testing, Infectious Diseases Testing, Cardiac Markers Testing, Coagulation Testing, Pregnancy And Fertility Testing, Blood Gas Or Electrolytes Testing, Urinalysis Testing, Other Types
2) By Mode Of Purchase: Over-The-Counter Products, Prescribed Based Products
3) By Technology: Immunoassays, Molecular Diagnostics, Microbial Detection, Polymerase Chain Reaction (PCR) Testing, Biochemical Testing
4) By End-User: Clinical Laboratories, Ambulatory Care Facilities And Physician Offices, Pharmacies, Retail Clinics And E-Comm Platforms, Hospitals, Critical Care Centres, Urgent Care Centres, Home Care And Self-Testing, Other End-Users
Subsegments:
1) By Blood Glucose Testing: Self-Monitoring Blood Glucose Devices, Continuous Glucose Monitoring Devices, Flash Glucose Monitoring Devices
2) By Infectious Diseases Testing: Human Immunodeficiency Virus (HIV) Testing, Hepatitis Testing, Influenza Testing, COVID-19 Testing, Other Infectious Diseases Testing
3) By Cardiac Markers Testing: Troponin Testing, Creatine Kinase-MB (CK-MB) Testing, Myoglobin Testing, B-type Natriuretic Peptide (BNP) Testing
4) By Coagulation Testing: Prothrombin Time (PT) Testing, Activated Partial Thromboplastin Time (aPTT) Testing, International Normalized Ratio (INR) Testing
5) By Pregnancy And Fertility Testing: Pregnancy Test Kits, Ovulation Test Kits, Fertility Hormone Testing
6) By Blood Gas Or Electrolytes Testing: Arterial Blood Gas Testing, Venous Blood Gas Testing, Electrolyte Testing
7) By Urinalysis Testing: Urine Chemistry Analysis, Microscopic Urine Analysis, Urine Culture Testing
8) By Other Types: Drug Abuse Testing, Allergy Testing, Cholesterol Testing, Thyroid Function Testing
What Future Market Trends Are Projected For The Point-Of-Care-Testing (POCT) Industry?
Leading businesses in the point-of-care-testing (POCT) industry are concentrating on introducing unique products like blood glucose control solutions to enhance diagnostic precision, swiftness, and patient outcomes in near-patient contexts. Blood glucose control solutions encompass systems, devices, and tools that monitor, manage, and adjust blood sugar levels to treat conditions such as diabetes. For example, F. Hoffmann-La Roche AG, a pharmaceutical organization based in Switzerland, introduced the Cobas pulse system in January 2022. This system is a revolutionary combined platform that merges cutting-edge point-of-care blood glucose tests with smart device capabilities. It seamlessly links with hospital IT systems for automatic result transmission and immediate clinical data access. This device incorporates healthcare apps to improve decision-making support and streamline workflow right at the patient’s bedside.
Who Are The Primary Players Operating Across The Global Point-Of-Care-Testing (POCT) Market?
Major companies operating in the point-of-care-testing (POCT) market are Johnson & Johnson, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson and Company, Zoetis Inc., BioMérieux SA, QuidelOrtho Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN NV, Nova Biomedical Corporation, LifeScan Inc., Ascensia Diabetes Care Holdings AG, Trividia Health Inc., Trinity Biotech Plc, SiPhox Inc., and Sinocare Inc.
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Which Region Offers The Most Growth Potential For The Point-Of-Care-Testing (POCT) Market Through 2029?
North America was the largest region in the point-of-care testing (POCT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point-of-care-testing (POCT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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