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What key factors are powering the surge in the point of care diagnostics market right now?

The market size of point of care diagnostics has seen a substantial increase in recent years. The market is projected to expand from $48.06 billion in 2024 to $51.76 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be credited to the increasing prevalence of chronic diseases, improvements in diagnostic accuracy, changes in healthcare settings, financial pressures in healthcare, and consumer inclination towards convenience.

How fast Is the point of care diagnostics market expected to grow, and what’s its future value?

The market size of point of care diagnostics is anticipated to witness substantial growth in the future, escalating to $74.15 billion by 2029 with a CAGR of 9.4%. Factors contributing to this growth during the predicted period include the demand for remote healthcare, market proliferation in developing economies, individualized healthcare, emphasis on preventive healthcare, and investments in R&D. The dominant trends projected for this period incorporate the advent of personalized medication, technology downsizing, integration with telemedicine, the rise of new biomarkers, and increased consumer autonomy.

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What are the leading drivers of growth in the point of care diagnostics market?

The point of care (POC) diagnostics market is propelled ahead due to the escalating rate of persistent and infectious ailments. Chronic conditions typically evolve slowly, typically lasting three or more months. POC diagnostics proves advantageous for convenient management of these enduring diseases and enjoys widespread use owing to the comfort factor. Take, for example, the 2023 data from the Centers for Disease Control and Prevention (CDC), which indicated that 42% of US adults were managing two or more chronic illnesses. This scenario is worrisome as it underscores an ascending trend of multiple chronic conditions in the adult group. Hence, the growing incidence of chronic diseases plays a key role in driving the POC diagnostics market.

What are the key segments defining the point of care diagnostics market?

The point of care diagnostics market covered in this report is segmented –

1) By Product: Glucose Monitoring Kits, Infectious Diseases Testing Kits, Pregnancy And Fertility Testing Kits, Hematology Testing Kits, Cardiometabolic Monitoring Kits, Urinalysis Testing Kits, Cholesterol Test Strips, Other Products

2) By Mode Of Prescription: Prescription Based Devices, OTC (Over-The-Counter) Based Devices

3) By End User: Professional Diagnostic Centers, Research Laboratories, Home Care, Other End-Users

Subsegments:

1) By Glucose Monitoring Kits: Blood Glucose Meters, Test Strips

2) By Infectious Diseases Testing Kits: Rapid Antigen Tests, PCR Testing Kits, Serology Tests

3) By Pregnancy And Fertility Testing Kits: Home Pregnancy Tests, Ovulation Predictor Kits

4) By Hematology Testing Kits: Complete Blood Count (CBC) Test Kits, Coagulation Test Kits

5) By Cardiometabolic Monitoring Kits: Lipid Profile Test Kits, Blood Pressure Monitors

6) By Urinalysis Testing Kits: Dipstick Test Kits, Urine Culture Kits

7) By Cholesterol Test Strips: Home Cholesterol Testing Kits

8) By Other Products: Customizable Test Kits, Point Of Care Testing Platforms

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Who are the key players steering the development of the point of care diagnostics market?

Major companies operating in the point of care diagnostics market include Abbott Laboratories, Siemens Healthineers AG, Beckman Coulter Inc., Becton, Dickinson and Company, Instrumentation Laboratory Company, Nova Biomedical Corporation, Qiagen NV, F. Hoffmann-La Roche Ltd., Biomeriux SA, Quidel Corporation, Orasure Technologies Inc., Johnson and Johnson, Thermo Fisher Scientific Inc., Sysmex corporation, Sinocare Inc., Arkray Inc., Danaher Corporation, Chembio Diagnostics Inc., EKF Diagnostics Holdings plc, Trinity Biotech plc, Fluxergy Inc., LumiraDx UK Ltd., Meridian Bioscience Inc., Nipro Europe Group Companies, AccuBioTech Co. Ltd., Atlas Genetics Ltd., Atlas Link Biotech Co. Ltd., Biomeme Inc., Cepheid Inc., Church & Dwight Co. Inc.

What emerging trends are influencing the growth of the point of care diagnostics market?

The emergence of product innovations is a noteworthy trend in the point of care (POC) diagnostics market, catching the attention of many. Major players in the POC diagnostics market are releasing novel products in an effort to maintain their market standing. For instance, in January 2022, the American diagnostics firm PocDoc unveiled the PocDoc Cardiovascular Diseases point-of-care test. This test entails a five-step process that involves acquiring the sample, testing it on a lateral flow test kit, and then getting an immediate diagnosis on your phone. The distinguishing feature of this product is its status as the first-ever smartphone-based test for cardiovascular disease worldwide.

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Which regions are most influential in expanding the point of care diagnostics market?

North America was the largest region in the point of care diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the point of care diagnostics market report during the forecast period. The regions covered in the point of care diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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