The global point-of-care testing (POCT) market size was estimated at USD 32.96 billion in the year 2022 and is expected to reach around USD 99.33 billion by 2032 with an increasing CAGR of 12.2% from 2023 to 2032 due to increasing demands from the market due to increasing disorders among the population.
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Point-of-care testing markets are basically utilised for diagnosis of the disorder by performing various tests at the proper place and the proper time with increased facilities for testing the disorder with the availability of the testing kits available in the market. Point-of-care test markets are very normal tests and easy that can patient itself also can perform the test sitting at one place. Developing technologies in the medical sector with the aim of patients health and increased demands from the medical sector with rising disorders among the population and for fast treatment and quick diagnosis of the disorder available for quick treatment to the patients.
Diagnostic kits such as urine test strips available in the market for detecting the disorder or any problem. Pulse oximetery the electronic device that patient can check the oxygen level sitting at home and many more test are performed and in the laboratory with increased demands for glucose check, haemoglobin check and more mover. Which helped to expand the market of point care testing market.
Impact of COVID-19 on the point of care testing market rate with increased market revenue share due increasing number of patients with the viral infection and wide spread of corona virus affecting the patients health with increased demands from the medical sector for rapid testing and antigen testing of the patient and increased demands for blood testing, x-ray and many more test which are required for detecting the spread of disease with improved number of diagnostic procedure available which help to enhance the market of point care testing market.
Report Scope of the Point-of-Care Testing (POCT) Market
|Market Size in 2023||
USD 35.33 Billion
|Market Size by 2032||
USD 99.33 Billion
|Growth Rate from 2023 to 2032||CAGR of 12.2%|
|Forecast Period||2023 to 2032|
|Segments Covered||Product Type, Platform, Mode of Purchase, Testing Type, End-User, and Geography|
|Companies Mentioned||Sinocare Inc, Hoffmann La Roche Ltd, Siemens AG, Abott Laboratories, bioMrieux SA, Becton Dickinson and Company, Danaher Coraporation, Nova Biomedical, Sysmex corporation, Johnson and Johnson, Biosensor Inc, Fluxergy, Precision, Ascensia Diabetes Care Holding AG, LifeScan IP Holdings, LLC, Mankind pharma, OraSure Technologies, inc, A. Menarini Diagnostics s.r.l, ACON Laboratories, Trinity Biotech plc|
Point-of-care testing are the medical devices utilized for diagnosis of the disorder and faster results with increased efficiency and accuracy of the diagnostic kits with increased demands from the market so that people sitting at home any time any place can access the kit with quick results and fast treatment with the increased focus with increasing care of the patient and enhance the market growth of market due to increased demands.
Increasing prevalence of chronic disorders among the patients with disorders such as cancer, diabetes, arthritis, cardiovascular disorder and other with increased medical diagnostic kits available in the market and increased number of patients for testing purpose with increased technology and developed techniques in point-of-care testing market with increased research and development with new innovative techniques involved with increased software system and increased connectivity for performing the tests led to enhance the market rate of point care testing market.
The use of different point-of-care testing procedures and devices available in the market with different disorder accelerate the market. The key market players involved in the introduction of new launches in medical diagnostic kits with increased research and development and increased investment from the key market players help to grow the market of market. Increased interference of the government with increased funding for research and development of new techniques and enhance number of policies of reimbursement helps to drive the market.
The outbreak of COVID-19 with increased spread of corona virus with positive and negative impact on the point care testing market with increased demands from the health sector with rising patients which propel the point-of-care testing market at increased CAGR rate.
Key Market Drivers
Key Market Challenges
Key Market Opportunities
Product Type Insights
On the basis of product type, glucose monitoring product to hold the largest market share globally with increased demands from the customer with increasing disorders among the population and enhance demands for glucose monitoring product. Utilisation of glucose monitoring product use to determine the glucose level in individual which provides the information of insulin release in the body.
Glucose monitoring device is self-accessible to prick with needle on finger and collection of samples on the device and provides the information of glucose levels in the patients body. Utilisation of the point care testing with increased demands for the glucose monitoring device from the customer with diabetes-I and diabetes-II.
On the basis of platform, lateral flow assay with highest market value in point care testing market. Increased analysis of the sample by immunochromatographic techniques for detection of analytes in the sample with detecting and quantifying of complex samples and submitting the results less than 30min period of time. Increased acceptance of the developed platforms and lateral flow assay test with conventual procedures performed in the labs helps to expand the market of Point-of-care testing market.
On the basis of end users, clinical laboratories accounted for the largest market share with increasing number of chronic disorder and increased utilization of testing sample in the laboratories. Covid-19 with wide spread of virus and increase in development of the testing and made available in the laboratories so that the individual can examine the presence of virus with enhance requirements from the market for point-of-care testing market. The home care testing services which are self-tested with highest market with increasing CAGR helps to drive the market.
On the basis of geography, North America with highest market with increased CAGR in point-of-care testing market with increasing disorder among the population and increased demands for medical diagnostic kits with quick detection of the disorder and fast treatment increase the market revenue share of point-of-care test with developed technology with continuous research helps to drive the market.
Other regions such as North America, Middle East and Africa, Asia Pacific, Europe in process to contribute the market share with increasing demands for point-of-care testing with increasing disorder with enhance market size.
Segments Covered in the Report
By Product Type
By Mode of Purchase
By Testing Type
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