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Point of Care Testing Market Size By Product (Glucose Monitoring, Cardiometabolic Testing, Infectious Disease Testing, Coagulation Testing, Pregnancy and Fertility Testing, Tumor/Cancer Marker Testing, Urinalysis Testing, Cholesterol Testing, Hematology Testing, Drugs-of-Abuse Testing, Fecal Occult Testing), By Technology (Lateral Flow Assays, Dipsticks, Microfluidics, Molecular Diagnostics, Immunoassays, Agglutination Assays, Flow-Through, Solid Phase, Biosensors), By Prescription (OTC Testing, Prescription-based Testing), By Application (Cardio Metabolic Testing, Infectious Disease Testing, Nephrology Testing, Drug-of-Abuse (DoA) Testing, Blood Glucose Testing, Pregnancy Testing, Cancer Biomarker Testing), By End-use (Hospitals, Diagnostic Centers, Research Laboratories, Home-Care Settings), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI3086
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Point of Care Testing (POCT) Market size surpassed USD 29 billion in 2020 and is expected to grow at a CAGR of over 7.4% from 2021 to 2027. Increasing prevalence of chronic diseases and acute infection across the globe has stimulated the point of care test (POCT) services. Similarly, increasing prevalence of diabetes is another prominent factor driving the market growth.
 

Point of Care Testing Market Overview

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As rapid tests can operate in any low-resource settings such as household settings. Therefore, these tests were largely employed across the globe to combat COVID-19 pandemic. Also, with the advent of COVID-19 outbreak, several public authorities such as the U.S. Food and Drug Administration (FDA) authorized POC tests for novel COVID-19 disease including products such as Abbott BinaxNOW and Abingdon’s Abc-19 test.
 

Upward trend in disease prevalence in the developing countries will boost the point of care testing market expansion

Chronic diseases and acute infections are increasing rapidly across the developing countries credited to the limited health awareness, inadequate medical infrastructure and lifestyle, among other factors. Such factors result in delayed diagnosis and treatment coupled with the quality of care received. Owing to its ease of use, cost-effectiveness and compact product size, the demand for point of care test for the rapid diagnosis is gaining traction.
 

Stringent regulatory policies may limit the market progression

The point of care testing market shows sluggish growth due to the stringent and time-consuming regulatory policies. With increasing scope of application and wider penetration in developing economies, significant regulatory focus is observed on the compliance, safety and usability of POCT. The U.S. FDA has classified point of care tests under class II medical devices. These devices provide reasonable assurance of the effectiveness and safety of the device type.
 

Glucose monitoring to dominate the market

Point of Care Testing Market Size

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The glucose monitoring segment accounted for 25% of the point of care testing market share in 2020. The point-of-care testing helps in the rapid decision-making process of disease diagnosis, thereby increasing its demand among the people. The advantage of point of care testing for blood glucose (BG)) is its rapid turn-around time as compared to central laboratory testing (CLT). Moreover, the preanalytical and postanalytical factors such as multiple user handling, transportation, delayed reporting and order verification can affect the analysis of test.
 

Technological advancement in lateral flow assay will spur the market demand

The lateral flow assays segment in the point of care testing market is slated to reach USD 11.8 billion by 2027. The introduction of novel products to provide rapid progress in R&D of POCT diagnostic tool is set to augment the industry growth. Furthermore, the advancement in component materials, reader technologies, reagents and sensitivity enhancement have made quantitative results more achievable with the help of lateral flow assay, thereby fostering the segment growth.
 

Benefits associated with OTC-based test to influence the market revenue

The point of care testing market for TC test segment is anticipated to witness 7.1% growth rate through 2027 led by the rising number of OTC testing such as pregnancy test and blood glucose test that provides result in few seconds. These tests do not require skilled professional to perform and can be self-tested by individuals, thereby impelling the industry expansion. For instance, First Response kit is a rapid pregnancy test that gives result in 60 seconds. Also, Accu-Chek active blood glucose meter kit provide results in 5 seconds to the users, thereby propelling the demand of market. Additionally, over the counter test helps in the rapid and earlier diagnosis of infectious disease, thereby lowering the threat of community spread of diseases. Similarly, OTC testing also reduces the healthcare visit of the patients, minimizing the risks of other infectious diseases.
 

Growing incidence rate of diabetes and obesity lead to cardiovascular illness that will drive the segment expansion

Cardio metabolic testing in the point of care testing market is poised to cross USD 5.3 billion by 2027 owing to the rising incidence rate of diabetes and obesity will lead to cardiovascular illness. The cardiometabolic test also determines the percentage level of Docosahexaenoic acid (DHA) and eicosapentanoic acid (EPA) in red blood cell membrane. This further helps in determining the emerging risk factors associated with cardiac arrest and other heart related diseases.
 

Rapid and cost-effective result to accelerate the hospitals segment progression

The point of care testing market for hospital segment is estimated to attain a CAGR of 7.2% till 2027. Many hospitals are adopting point of care testing due to the rapid, simple and cost-effective nature of POCT. Availability of various tests such as blood glucose measurement and complex coagulation testing, among others, in hospital settings will boost the segment value. Moreover, Abnormal glucose measurements are common among intensive care unit (ICU) patients for numerous reasons. Both hyperglycemia and hypoglycemia in the ICU patients is associated with increased morbidity and mortality. Therefore, accurate and timely glucose measurement is essential to achieve for safe and efficacious glucose control in the ICU patients.
 

High R&D activities and favorable government policies in North America region are major factors for the market growth

Global Point of Care Testing Market

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North America point of care testing market is projected to expand at over 6.9% CAGR during 2021 to 2027. High R&D investment by public and private authorities for the advancement of point of care testing is predicted to enhance the industry during the forecast period. Also, rise in private funding and increasing R&D investment will play an important role in fuelling the industry value. Furthermore, rising shift to predictive medicine from curative medicine & personalized medicine and increasing use of POCT devices for both self-testing and professional testing will support the business growth.
 

Growth strategies of market players are focused on increasing the customer base

Few of the notable companies operating in global POCT market are Abaxis, Inc., Abbott Laboratories, Accubiotech Co, Ltd., ACON Laboratories, Inc., Becton, Dickinson and Company. These market leaders adopt strategies such as novel product launch, mergers and acquisitions to foster business in point of care testing.
 

The point of care testing (POCT) market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product

  • Glucose Monitoring
    • Strips
    • Meters
    • Lancets
  • Cardiometabolic testing
    • Cardiac marker testing
      • hsTnl
      • BNP
      • D-dimer
      • CK-MB
      • Myoglobin
      • Others
    • Blood gas/electrolytes testing
    • HBA1C testing
  • Infectious disease testing
    • Influenza testing
    • HIV testing
    • Hepatitis C testing
    • Sexually Transmitted Disease (STD) testing
    • Healthcare-Associated Infection (HAI) testing
    • Respiratory infection testing
    • Tropical disease testing
    • Other infectious diseases testing
  • Coagulation testing
    • PT/INR testing
    • Activated Clotting Time (ACT/APTT) testing
  • Pregnancy and fertility testing
    • Pregnancy testing
    • Fertility testing
  • Tumor/Cancer marker testing
  • Urinalysis testing
  • Cholesterol testing
  • Hematology testing
  • Drugs-of-abuse testing
  • Fecal occult testing
  • Others

Market, By Technology

  • Lateral flow assays
  • Dipsticks
  • Microfluidics
  • Molecular diagnostics
  • Immunoassays
  • Agglutination assays
  • Flow-through
  • Solid phase
  • Biosensors

Market, By Prescription

  • OTC testing
  • Prescription-based testing

Market, By Application

  • Cardio metabolic testing
  • Infectious disease testing
  • Nephrology testing
  • Drug-of-Abuse (DoA) testing
  • Blood glucose testing
  • Pregnancy testing
  • Cancer biomarker testing
  • Other applications

Market, By End-use

  • Hospitals
  • Diagnostic centers
  • Research laboratories
  • Home-care settings
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Market size of point of care testing had exceeded USD 29.1 billion in 2020 and will witness a CAGR of over 7.4% through 2027 with rising prevalence of chronic diseases and acute infection globally.

Cardio metabolic testing segment will record a valuation of over USD 5.3 billion by 2027 owing to the rising cases of diabetes and obesity leading to cardiovascular illness.

Glucose monitoring segment had captured 25% market share in 2020 with increasing demand for point-of-care for rapid decision-making during disease diagnosis.

North America market will exhibit a CAGR of over 6.9% through 2027 owing to increasing R&D investments by the public and private authorities towards the advancement of point of care testing.

The notable companies operating in the market are Abaxis, Inc., Abbott Laboratories, Accubiotech Co, Ltd., ACON Laboratories, Inc., Becton, Dickinson and Company.

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Premium Report Details

  • Published Date: Nov 2021
  • Companies covered: 20
  • Tables & Figures: 614
  • Countries covered: 15
  • Pages: 400

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