DUBLIN, Jan. 15, 2024 /PRNewswire/ — The “Global Point of Care Testing Market (By Diagnostics Segment, Mode, End Users, Regions), 100 Company Profiles” report has been added to ResearchAndMarkets.com’s offering.
The global point of care testing (POCT) market is predicted to surpass US$ 75.2 Billion by 2030
POCT or near-patient testing is a medical diagnostic test that allows physicians and medical staff to correctly attain real-time, lab-quality diagnostic results within minutes rather than hours. POCT has skyrocketed in the last 20 years, backed by the increasing introduction of transportable, portable, and handheld instruments that has resulted in the migration of POC testing from the hospital environment to a range of medical environments including the workplace, home, disaster care and most recently, convenience clinics.
The demand for accurate and fast testing has blossomed both inside and outside the hospital setting. The rising incidence of infectious diseases and chronic conditions such as cardiovascular diseases and diabetes in developing countries such as India and China have stimulated demand for point of care testing services.
As per statistics of the International Diabetes Federation, in 2021, approximately 537 million adults (20-79 years) are living with diabetes globally, and it is estimated to reach 643 million by 2030 and 783 million by 2045. Hence, the growing infectious diseases and chronic conditions will drive the point of care testing market over the forecast period.
By Diagnostics Segment: Key Takeaways
- Based on diagnostics segment, the point of care testing market is dominated by blood glucose testing segment. Increasing prevalence of diabetes and the rising inclination of patients towards home testing is the major driver that will drive segmental growth over the forecast timeframe.
- The infectious diseases segment held second largest revenue share in 2022. Infectious diseases are the primary cause of mortality globally, and according to figures from the Clinical Microbiology and Infection journal, they claim over 14 million lives annually, making up around 25% of the 56 million deaths recorded worldwide.
- Cardiac marker segment is expected to grow at a significant rate over the forecast period. The growing prevalence of cardiovascular ailments, increasing purchasing power, rise in the geriatric population, associated with high susceptibility to chronic diseases related to cardiac disorders, and economical diagnosis of chronic diseases in rural areas is expected to drive the market for cardiac markers.
By Mode: Key Takeaways
- On the basis of mode, the point of care testing market is dominated by OTC-based testing segment, as these tests are cost-effective as well as easy operative in nature. These tests do not require skilled professional to perform and can be self-tested by individuals, thereby boosting the market growth.
- The Prescription based testing segment is expected to grow at the highest rate over the forecast period.
By Platform: Key Takeaways
- By platform, the Lateral Flow Assays (LFA) segment accounted for largest revenue share in 2022. POC tests based on lateral flow assays are increasingly being employed to replace long, conventional laboratory processes.
- The point of care testing market for immunoassays technology is expected to witness significant growth over the forecast timeframe. Rapid immunoassays improve quality of care through its performance at point of care facilities, such as student health clinics, labor and delivery suites and emergency rooms. The cost-effectiveness offered by these immunoassays will influence segment growth over the forecast period.
- Microfluidic based point-of-care testing provides prompt results and also improves disease detection and diagnosis with the help of small sample volumes.
By End Users: Key Takeaways
- Based on end users, the point of care testing market is segmented into Hospitals, Clinics, Laboratories, Home Care and Assisted Living Healthcare Facilities.
- Hospitals held majority of the point of care testing market, followed by Clinics. Increase in prevalence of chronic conditions such as cancer and cardiovascular diseases that require proper monitoring and prefer minimally invasive procedures are carried out in hospitals and clinics.
- The home care segment is expected to grow at the highest rate over the forecast period driven by increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.
By Region: Key Takeaways
- The point of care testing market, by region, is dominated by North America and is expected to maintain its position throughout the forecast period. This can be attributed to rising prevalence of chronic disorders and infectious diseases, which need portable and rapid diagnosis, increasing number of product approvals, and rising government initiatives to support the adoption of POCT in this region.
- Europe held second highest share of the point of care testing market.
- Asia-Pacific point of care testing market is expected to grow at the fastest rate over the forecast period driven by growing geriatric population base, rising prevalence of target diseases, increasing demand for home healthcare and the introduction of new products enabled with advanced technologies.
This 303 Page report with 78 Figures and 12 Tables has been analyzed from 10 View Points:
- Global – Point of Care Testing Market & Forecast (2012 – 2030)
- Global – Point of Care Testing Market Share and Forecast (2012 – 2030)
- By Diagnostics Segment – Global Point of Care Testing Market & Forecast (2012 – 2030)
- By Mode – Global Point of Care Testing Market & Forecast (2012 – 2030)
- By Platform – Global Point of Care Testing Market & Forecast (2015 – 2030)
- By End Users – Global Point of Care Testing Market & Forecast (2012 – 2030)
- By Region – Global Point of Care Testing Market & Forecast (2012 – 2030)
- Global Point of Care Testing Market – Recent Developments
- Global Point of Care Testing Market – 106 Company Profiles
- Global Point of Care Testing Market – Growth Drivers & Challenges
Global Point of Care Testing Market – Growth Drivers
- Point-of-care Testing: A Step to the Future
- High Prevalence of Chronic and Infectious Diseases
- Continued Expansion of Point of Care Including Self Testing
- The Promise of Point-of-Care Testing
- Future of Point of Care Testing – The ‘Worried Well’
- Hub and Spoke
- Education
- Technological Advancement in POCT to Spur Market Demand
Global Point of Care Testing Market – Challenges
- Point of Care (POC) Testing Barriers in Low & Middle-Income Countries
- Barriers to Adoption & Scale-up of POC Technologies
- Technical, Administrative & Operational Barriers of Point of Care Tests
- Health System Related Barriers of Point of Care Tests
- Economic Barriers of Point of Care Tests
- Policy/Regulatory Guidelines and Funding Challenges
- Infrastructure Barriers and Challenges with POC Diagnostics Development
By Diagnostics Segment – Global Point of Care Testing Market & Forecast
- Blood Glucose Testing
- Cardiac Marker Testing
- Lipid Panel/Cholesterol Testing
- Coagulation Testing
- Infectious Disease Testing
- Urinalysis Testing
- Drug of Abuse Testing
- Fecal Occult Blood Testing
- Pregnancy & Fertility Testing
- Tumor Marker Testing
- Critical Care Testing
- HbA1c Testing
- Clinical Chemistry Testing
- Bilirubin Testing
- Hematology Testing
By Mode – Global Point of Care Testing Market & Forecast
- Prescription-based Testing
- OTC-based Testing
By Platform – Global Point of Care Testing Market & Forecast
- Lateral Flow Assays
- Immunoassays
- Microfluidics
- Dipsticks
- Molecular Diagnostics
- Others
By End Users – Global Point of Care Testing Market & Forecast
- Hospitals
- Clinics
- Laboratories
- Assisted Living Healthcare Facilities
- Home Care
For more information about this report visit https://www.researchandmarkets.com/r/v9k7xf
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