Global Point-of-Care Diagnostics Market Sets Sights on Substantial Growth: Aiming for 9-11% by 2028

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Point-of-care Diagnostics Market

Growing rates of infectious illnesses, rising need for quick diagnostic kits, continuous technical development, and favorable government backing for point-of-care diagnostics equipment in important countries are the main factors driving the market.

Point-of-care diagnostics, or POC diagnostics, are diagnostic tests performed on patients outside of conventional laboratories, usually at the patient’s place of treatment. These tests are designed to give quick and easy findings so that medical practitioners may decide on treatment right away. Fast data delivery, adaptability to different healthcare environments, simple processes needing little training, and the capacity to trigger fast clinical actions are some of the key aspects. POC diagnostics are useful in the diagnosis, monitoring, and treatment of a wide range of medical disorders. Examples of these applications include diabetes monitoring, cardiovascular indicators, infectious infections, and pregnancy. The decentralized structure of POC diagnostics improves access to testing services, and portable equipment enable testing in many places, especially in areas with low resources. Pregnancy testing, fast strep tests, and blood glucose monitoring are a few examples. As technology evolves, new POC diagnostic tools emerge, fostering efficient and patient-centered healthcare practices to improve testing speed and accessibility for enhanced patient care and outcomes.

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Beyond the Lab: Using Point-of-Care Testing to Speed Up Diagnosis for Contagious and Chronic Illnesses

The need for sophisticated point-of-care testing is rising as a result of the increasing requirement for prompt and precise identification of infectious and chronic illnesses. The rising incidence of infectious diseases is expected to fuel a particularly strong demand for these cutting-edge diagnostic instruments. Globally, diseases including HIV, hepatitis, influenza, and TB have emerged as serious public health issues. The importance of point-of-care testing in healthcare settings is highlighted by the pressing need to detect these disorders and start the right therapies as soon as possible. In addition to improving illness detection speed and efficiency, these new diagnostics also provide a substantial contribution to the management and control of infectious diseases as a whole. This trend reflects a broader paradigm shift towards proactive and targeted healthcare solutions, where timely diagnosis becomes a key factor in preventing the spread of diseases and improving patient outcomes. For instance,

  • In June 2023, Sysmex launched Europe’s first Point-of-Care Testing System, which can detect antimicrobial susceptibility within 30 minutes. The system assesses the presence of bacteria and the effectiveness of antimicrobials using urine samples from patients with suspected urinary tract infections.
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Next-Generation Diagnostics: Improving Point-of-Care Testing with Technological Breakthroughs

Recent advances in point-of-care testing (POCT) have been considerably influenced by technological innovations, such as the introduction of multiplexing capabilities into diagnostic methods. This breakthrough enables the simultaneous detection and analysis of many biomarkers or parameters at the patient’s bedside, significantly improving diagnostic efficiency. Furthermore, innovations in cellphone-based technologies, such as the use of smartphones, have played a critical role in driving cost-effective mobile healthcare and personalized medicine, providing users with convenient and accessible solutions, and facilitating the integration of diagnostic capabilities into everyday devices. These combined developments help to shape the growth of next-generation diagnostics, improving accessibility and efficiency in healthcare procedures. For instance,

  • In November 2022, LumiraDx Limited announced the commercial expansion of its HbA1c test for professional use in various care settings. The test works alongside the LumiraDx Platform to monitor HbA1c levels in known diabetic patients and identify those at risk of developing diabetes.
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Furthermore, the introduction of paper-based assays (PBAs) and lab-on-a-chip (LOC) platforms has ushered in a new age of reliable, automated, and simple point-of-care testing. PBAs, noted for their cost-effectiveness, and LOC platforms, built for miniaturized and integrated diagnostics, help to improve diagnostic process efficiency and accessibility. Novel assay formats improve the versatility of point-of-care testing, addressing a wide range of diagnostic demands. The stability of reagent storage is a significant factor that has been addressed as these technologies have advanced. Strategies have been developed to allow for long-term storage of reagents at ambient temperatures, assuring the feasibility and use of point-of-care testing equipment in a variety of contexts. The ongoing refining of these technologies has the potential to change diagnostic capabilities by delivering more accessible and efficient healthcare solutions globally.

Regional Dynamics of the Point-of-Care Diagnostics Market

North America has emerged as the primary focus of the POC diagnostics market, owing to favorable government regulations, broad knowledge of self-testing, and a high prevalence of lifestyle illnesses. However, the Asia Pacific region is expected to have the most rapid expansion in the point-of-care industry. This spike is being driven by a growing population, an increase in labs and diagnostic facilities, rising healthcare costs, and the growing influence of local makers of diagnostic kits and reagents.

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Competitive Landscape Analysis

Some of the key players operating in the market include Abbott Laboratories, Siemens Healthcare, F. Hoffman-La Roche Ltd, BD (Becton, Dickinson and Company), Trinity Biotech, Sysmex Corporation, Nova Biomedical, Quidel Corporation and Danaher Corporation, among others.

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Market

Players operating in this market are adopting both organic and inorganic growth strategies such as collaborations, and acquisitions to garner market share. For instance,

  • In January 2023, Trinity Biotech revealed a strategic 5-year partnership with imaware, designating Trinity Biotech as the lab testing partner for imaware™ and aiming to process over 650,000 test kits annually at its advanced New York-based reference lab facility by the third year, with a focus on delivering integrated diagnostic testing solutions and seamless follow-up confirmatory testing for imaware users

The point-of-care diagnostics market is expected to gain further momentum in the coming years due to the rising need for quick and reliable diagnostic results, growing awareness of self-testing, increasing prevalence of lifestyle diseases and aggressive organic and inorganic growth strategies followed by the players.

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