Point Of Care Diagnostics & Testing Market Size, Share & Trends Analysis Report By Product (Infectious Diseases, Cancer Marker), By End-use (Home, Clinics), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global point of care diagnostics and testing market size was valued at USD 27.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.25% from 2021 to 2028. The market is set to gain momentum in the coming years on account of the increase in funding by multiple sources, the rising prevalence of target diseases, and the need to address the recent outbreak of coronavirus. The growing demand for home healthcare has propelled manufacturers, such as Abbott Laboratories and Roche Diagnostics, to commercialize portable products that are user-friendly, which is also estimated to drive the market. One of the major trends observed in patient care is the decentralization of healthcare, which is expected to offer new growth opportunities to the overall point of care (POC) testing industry.

Divisions, such as operating room, cath labs, ICU, emergency room, and neonatal intensive care units, demand the use of POC tests to ensure effective and rapid patient care. The reach of POC diagnostic solution is set to proliferate with the advent of smartphone-oriented healthcare solutions, digital technologies, and embedded vision-based solutions. These are inclusive of miniaturization of devices, sample multiplexing, and introduction of networking technologies. Integration of networking technologies with the POC diagnostic solutions developed in the recent past is primarily targeted towards boosting the specificity and sensitivity of the existing solutions, which is expected to increase its penetration across large-scale medical settings, especially hospitals.

The increasing significance of POC diagnostics in environmental monitoring and public health also demands the integration of technologies that facilitate easy networking, further making it convenient for healthcare professionals to interpret test results accurately. Thus, remote access integration of POC tests and their networking is expected to open up new avenues for the industry in the coming years. On the other hand, these devices are costly for healthcare facilities dealing with high test volumes. This is expected to hamper market growth, especially in developing economies. However, the introduction of cost-effective devices is expected to gradually reduce the impact of this restraint over the forecast period.

COVID-19 Impact: Rising demand for home healthcare & out-patient care models

Product Insights

The infectious diseases product segment dominated the global market in 2020 with a share of over 36% and will retain its leading position throughout the forecast years. The glucose product segment is estimated to account for the second-highest revenue share by 2028. Routine testing of glucose levels is of prime importance for the management of diabetic patients. As per the Diabetes Control and Complications Trial, integration of blood glucose monitors results in lesser complications associated with the disease.

Point of care glucose monitors assists in regular monitoring of blood glucose, which further enables doctors to design an effective therapy. Over-the-Counter (OTC) or rapid tests and prescription tests are the POC tests that are useful for the determination of blood glucose levels in hospitals and other POC settings. The growing prevalence of diabetes and the introduction of portable diagnostic equipment are expected to boost the segment growth from 2021 to 2028.

The cardiac markers product segment is expected to register the second-fastest CAGR during the forecast period. High accuracy rates associated with these markers and the growing prevalence of target diseases are the primary drivers of this segment. In addition, hospitals are increasingly relying on the rapid results obtained by cardiac biomarker measurement to proceed with the treatment of individuals with Cardiovascular Disorders (CVDs). Point of care tests are designed to read high troponin values, which further signals the need to admit the individual to the hospital.

Also, preliminary research studies suggest that such devices are widely used in central laboratories, which is expected to offer lucrative opportunities to the manufacturers operating in this market. Several POC test cardiac marker assays are currently commercialized; for instance, the PATHFAST test, manufactured by Mitsubishi Chemical Medience Corporation, has been approved by the Food and Drug Administration for near-patient diagnosis of CVD individuals.

End-use Insights

The clinics segment accounted for the highest revenue share of over 37% in 2020. Pharmacy & retail clinics are the major contributors to the revenue generated by this segment. Growing access to novel diagnostic technologies, improving healthcare coverage, and affordability are the key factors that are expanding the applications of POC testing.

Thus, community pharmacies and retail clinics have emerged as potential medical setups that perform such lab tests; especially regarding cholesterol and glycosylated hemoglobin (A1C) testing. POC products manufactured by key players that are exclusive to physician office applications also contributed to the revenue of this segment in the global POC diagnostics and testing market.

For instance, Siemens Healthineers showcases a broad portfolio of POC solutions suitable for analytical applications at physicians’ offices; these include diabetes, urinalysis, and coagulation. The company also offers software solutions that help in connecting more than 100 POC devices along with all the operators that utilize them.

On the other hand, the home end-use segment is expected to register the fastest growth rate of 4.01% from 2021 to 2028. POC devices deployed in the home healthcare sector have empowered patients to address healthcare challenges at home and take decisions instantly. The growing emphasis on early detection and prevention of diseases is supplementing the segment’s growth.

Regional Insights

North America was the largest regional market in 2020 and accounted for a revenue share of over 34%. The region will retain its dominant position throughout the forecast years on account of rapidly increasing COVID-19 cases in the U.S. and Canada. The number of COVID-19 tests conducted in this region was more than 300 million, thus, offering tremendous scope for market growth.

On the other hand, Asia Pacific is estimated to be the fastest-growing regional market from 2021-2028. The development of healthcare infrastructure coupled with a higher prevalence of chronic and targeted diseases like diabetes and cancer along with infectious conditions including HIV, syphilis, COVID-19, RSV, and others are expected to drive the regional market. Furthermore, a rise in the adoption of miniaturized models and measures adopted for the reduction in hospital stays are expected to fuel the demand for POC products.

Key Companies & Market Share Insights

Major market participants are involved in the commercialization of their products through distribution agreements to reinforce their presence in several regions. Furthermore, key companies are engaged in the development of more sophisticated bench-top and portable testing solutions to maintain a competitive edge in the market. For instance, in March 2020, Nova Biomedical launched Stat EMS Basic blood testing system to be used in emergency and ambulance care in CE regulated countries.

This product launch demo exhibited the company’s commitment toward POC testing and critical care. In January 2020, Roche Diagnostics updated its collaboration with Inotrem S.A. to develop a rapid blood test for septic shock. The collaboration is targeted toward designing a companion diagnostic test to measure sTREM-1 levels in the bloodstream. Some of the key companies in the global point of care diagnostics & testing market include:

• F. Hoffmann-La Roche Ltd.

• Qiagen

• Danaher Corp.

• Becton Dickinson (BD)

• Biomerieux SA

• Abbott Laboratories

• Siemens Healthcare AG

• Zoetis, Inc.

• Instrumentation Laboratory

• Nova Biomedical

• Trividia Health, Inc.

• Quidel Corp.

• Trinity Biotech

• Sekisui Diagnostics

• Orasure Technologies, Inc.

• Nipro Corp.

• Spectral Medical, Inc.

Point Of Care Diagnostics & Testing Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global point of care diagnostics & testing market report on the basis of product, end-use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Glucose Testing

  • Hb1Ac Testing

  • Coagulation

  • Fertility

  • Infectious Diseases

    • HIV POC

    • Clostridium Difficile POC

    • HBV POC

    • Pneumonia or Streptococcus Associated Infections

    • Respiratory Syncytial Virus (RSV) POC

    • HPV POC

    • Influenza/Flu POC

    • HCV POC

    • MRSA POC

    • TB and Drug-Resistant TB POC

    • HSV POC

    • COVID-19

    • Other Infectious Diseases

  • Cardiac Markers

  • Thyroid Stimulating Hormone

  • Hematology

  • Primary Care Systems

  • Decentralized Clinical Chemistry

  • Feces

  • Lipid Testing

  • Cancer Marker

  • Blood Gas/Electrolytes

  • Ambulatory Chemistry

  • Drug Abuse Testing

  • Urinalysis

• End-use Outlook (Revenue, USD Million, 2017 - 2028)

  • Clinics

    • Pharmacy & Retail Clinics

    • Physician Office

    • Urgent Care Clinic

    • Non-practice Clinics

  • Hospitals

  • Home

  • Assisted Living Healthcare Facilities

  • Laboratory

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia