The global point-of-care testing (POCT) market was estimated at USD 40.6 billion in 2021 and is expected to reach around USD 103.2 billion by 2030, with a CAGR of 10.92% from 2022 to 2030 due to increased market demand due to rising disorders among the population.
Point-of-care testing markets are mostly used for disorder diagnosis by running various tests at the correct location and time with expanded facilities for testing the disorder with the availability of testing kits on the market. Point-of-care test markets are fairly common and simple tests that may be performed by the patient while sitting in one spot. Developing technologies in the medical sector with the goal of improving patient health and increasing demands from the medical sector with rising problems among the population and for quick treatment and diagnosis of the disease available for quick treatment to the patients.
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Market Segmentation:
Product type: The POCT market can be segmented based on the type of product, such as blood glucose monitoring, cardiac markers, infectious disease testing, coagulation monitoring, pregnancy and fertility testing, and others.
End-user: The POCT market can be segmented based on the end-user, such as hospitals, clinics, home care, and others. POCT products and services can target specific segments, such as emergency departments, intensive care units, and physician offices.
Mode of delivery: The POCT market can be segmented based on the mode of delivery, such as handheld devices, benchtop devices, and other devices.
Technology: The POCT market can be segmented based on the technology used, such as lateral flow assays, molecular diagnostics, biosensors, and others.
Geography: The POCT market can be segmented based on geographic regions, such as North America, Europe, Asia-Pacific, and the Rest of the World.
Application: The POCT market can be segmented based on its application, such as diagnosis, monitoring, screening, and others.
Overall, the POCT market is expected to experience significant growth in the coming years, driven by the increasing demand for faster and more accurate diagnostic tests, the growing prevalence of chronic diseases, and the need for decentralized testing.
Key Players:
- Abbott Laboratories
• Roche Diagnostics
• Siemens Healthineers
• Danaher Corporation
• Becton, Dickinson and Company
• Bio-Rad Laboratories
• Johnson & Johnson
• Quidel Corporation
• Sysmex Corporation
• bioMérieux SA
• Nova Biomedical
• EKF Diagnostics
• Trinity Biotech
• Hologic, Inc.
• Sekisui Diagnostics LLC
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Regional Analysis:
North America: North America is the largest market for POCT, owing to the presence of a well-established healthcare infrastructure, high healthcare spending, and strong regulatory framework. The region has a large number of hospitals, clinics, and laboratories that are adopting POCT for faster and more accurate diagnosis.
Europe: Europe is another significant market for POCT, with a high prevalence of chronic diseases and increasing demand for rapid diagnostic tests. The region also has supportive government policies and a growing focus on personalized medicine.
Asia-Pacific: The Asia-Pacific region is expected to be the fastest-growing market for POCT, owing to the large population base, increasing healthcare spending, and growing demand for rapid diagnostic tests in remote and rural areas. The region also has a high burden of infectious diseases, which is driving the adoption of POCT for early diagnosis and treatment.
Middle East and Africa: The Middle East and Africa are emerging markets for POCT, with increasing investment in healthcare infrastructure and rising awareness about the benefits of early diagnosis.
Latin America: Latin America is a developing market for POCT, with increasing adoption of POCT in hospitals, clinics, and laboratories. The region has a high burden of infectious diseases and a growing focus on preventive healthcare.
Overall, the global POCT market is expected to experience significant growth in the coming years, driven by the increasing demand for rapid diagnostic tests, rising healthcare spending, and growing focus on personalized medicine.
Impact of COVID-19 on the global Point-of-Care Testing Market:
The COVID-19 pandemic has significantly impacted the Point-of-Care Testing market. With the increased demand for rapid and accurate testing, Point-of-Care Testing Market has experienced a surge in demand for Point-of-Care Testing devices. The pandemic has highlighted the need for decentralized testing, which has accelerated the adoption of Point-of-Care Testing in various regions. However, the pandemic has also created supply chain disruptions, shortages of raw materials and components, and increased competition, which have impacted Point-of-Care Testing Market's growth. Additionally, the pandemic has shifted focus from other diseases to COVID-19, resulting in a temporary slowdown in the development and adoption of Point-of-Care Testing for other diseases. Nonetheless, Point-of-Care Testing Market is expected to continue growing as the need for rapid and accurate testing remains crucial in controlling the spread of the virus.
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