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), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

Published Date: Nov 2020  |  Report ID: GMI3086  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 400   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Point of Care Testing Market size exceeded USD 24.2 billion in 2019 and is estimated to grow at over 7.1% CAGR between 2020 and 2026. Point of care testing (POCT) is defined as a medical diagnostic testing that allows medical staff and physicians to accurately achieve real-time lab-quality diagnostic results within minutes.
 

Point of Care Testing Market

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Rising incidence of infectious diseases and chronic conditions in developing countries has stimulated the demand for point of care diagnostic services. There were around 1.7 million new incidence and nearly 690,000 deaths due to HIV infection across the globe in 2019. Similarly, diabetes is one of the major factors driving the market growth. Around 463 million people in 2019 were detected with diabetes globally. This has boosted the demand for glucose biosensors.
 

Rapid point-of-care (POC) tests are capable of operating in any low-resource setting including at home and are needed to adequately combat the COVID-19 pandemic and reopen society. In response to COVID-19 outbreak, U.S. Food and Drug Administration (FDA) have authorized POC tests for novel COVID-19 disease that include the Abbott ID NOW and Cepheid GeneXpert. These tests require specialized and expensive instrumentation and high-level technical expertise. Hence, scalable, affordable, and easy-to-use POC tests remain vital need to fight against COVID-19 pandemic.
 

High cost of product development may slow down the market expansion

Point of care testing market is anticipated to grow significantly led by availability of superior quality point of care diagnostic devices that have wide range of applications. However, integration of advanced technology into these devices to reduce the rate of errors have increased the cost of production. This has in-turn led to an increase in the price of these devices restricting the overall market value. Furthermore, cost burden associated with diagnosis in developing countries is not affordable to majority of the population thus impeding the market revenue.

 

Point of Care Testing Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 24.23 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 7.1% 2026 Value Projection: USD 39.17 Billion
Pages: 400 Tables, Charts & Figures: 621
Geographies covered (15): U.S., Canada, Germany, UK, France, Italy, Spain, China, Japan, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Segments covered: Product, Technology, Prescription, Application, End-use and Region
Companies covered (20): Abaxis, Inc, Abbott, Acubiotech Co. Ltd, ACON Laboratories, Becton, Dickinson and Company, Biolytical Laboratories, BioMrieux SA, Bio-Rad Laboratories, Danaher Corporation (HemoCue), Dexcom Inc, Dragerwerk Ag & Co., LifeScan IP Holdings, LLC, Medtronic, Meridian Bioscience Inc, Nova Biomedical, OraSure Technologies Inc., F. Hoffmann-La Roche Ltd, Siemens Healthineers, Sysmex Corporation, Trinity Biotech
Growth Drivers:
  • Upward trend in disease prevalence among developing countries
  • Surging number of pathology labs and services equipped with advanced diagnostic equipment in North America
  • Technological advancements
  • Increasing R&D investment
  • Growing geriatric population base globally
Pitfalls & Challenges:
  • High cost of product development

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Increasing prevalence of diabetes across the globe

The glucose monitoring segment accounted for 25.1% of the point of care testing market share in 2019 impelled by increasing prevalence of diabetes in developed as well as developing economies. As per the International Diabetes Federation (IDF) Atlas estimates, globally over 642 million individuals aged between 20-79 years will be diagnosed with diabetes by 2040. The report also stated that, it is projected to be the seventh leading cause of death by 2030. Such high prevalence of the disease will increase the product demand.
 

Glucose monitoring segment is further sub-classified into strips, lancets and meters. Strips segment will observe substantial growth during 2020 to 2026. Wide applications of these strips in home blood glucose monitoring (HBGM) by people with hypoglycemia or diabetes mellitus will lead to the market demand.
 

Usage of lateral flow assays to identify wide range of pathogens and biomarkers

The point of care testing market for lateral flow assays technology valued more than USD 5.3 billion in 2019. Development of lateral flow technology has helped in filling the gap between testing at central laboratory and use in point of care diagnostic testing. Lateral flow assays (LFAs) do not require running water, electricity or expertise for its functioning. They deliver analytical information rapidly and cost-effectively. They are capable of identifying presence of wide range of pathogens, biomarkers and environmental contaminants.
 

Various benefits of OTC testing will augment the market share

The OTC testing segment valuation was around 14.2 billion in 2019. Benefits of OTC tests include earlier diagnosis and reduces healthcare visits of people with negative results. Industry players are investing into R&D activities to fulfil consumer demand for cost-effective self-tests and gain competitive edge in the market.
 

Advantages associated with cardio metabolic testing will foster the market growth

The cardio metabolic testing application in the point of care testing market is predicted reach USD 4 billion by 2026 driven by growing 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 helps to determine the emerging risk factors associated with cardiac arrest and other heart related diseases. Thus, usage of cardio metabolic tests in such disease conditions will significantly uptake the segment growth.
 

Increasing number of hospital admissions will enhance the segment revenue

Hospital end-use segment dominated around 36% of the point of care testing market share in 2019 on account of growing number of hospital admissions and rising geriatric population that are susceptible to various chronic conditions. 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.
 

Growing application of POC tests for safe and early diagnosis will reinforce the growth for North America region

Point Of Care Testing Market Regional Insights

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North America point of care testing market accounted for 48.3% of revenue share in 2019 due to increasing prevalence of infectious diseases and rising application of POC tests for safe and early diagnosis. High R&D investment by government and private funding organizations for the advancement of point of care diagnostic tests will propel the industry size during the forecast period. Rising shift to predictive medicine from curative medicine, pre-emptive and personalized medicine and increasing use of point of care test for both self-testing and professional testing will influence the market value.
 

Adoption of business strategies will pave growth opportunities for companies operating in the market

Prominent market leaders operating in the point of care testing market include Abbott, BioMerieux, Bio-Rad Laboratories, Siemens Healthineers, OraSure Technologies, Trinity Biotech and Sysmex Corporation among others. New product launch & approval, acquisition and collaboration are the most commonly adopted business strategies to sustain market position.
 

Some of the recent industry developments:

  • In May 2020, OraSure announced that it has acquired UrSure Inc, a company that develops and commercializes products that measure adherence to HIV medications. This includes laboratory-based tests including point-of-care products. This acquisition is expected to enhance their product offerings and market position.
     
  • In April 2020, Nova Biomedical launched Stat EMS blood testing systems in European countries. The Stat EMS measures fingerstick capillary lactate, glucose, ketone, hemoglobin, and hematocrit in six to 40 seconds with laboratory-quality results. This strategy is poised to expand their business in untapped economies and increase their customer base.
     

This market research report on point of care testing includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

Market, By Product

  • Glucose monitoring
    • Strips
    • Meters
    • Lancets
  • Cardiometabolic testing products
    • Cardiac marker testing
      • High-sensitivity troponin I (hstnl)
      • Brain natriuretic peptide (BNP)
      • D-dimer
      • Creatine kinase-MB (CK-MB)
      • Myoglobin
      • Others
    • Blood gas/electrolyte testing products
    • HBA1C testing
  • Infectious disease testing products
    • Influenza testing products
    • HIV testing products
    • Hepatitis C testing products
    • Sexually transmitted disease (STD) testing products
    • Healthcare-associated infection (HAI) testing products
    • Respiratory infection testing products
    • Tropical disease testing products
    • Others
  • Coagulation testing products
    • PT/INR testing products
    • Activated clotting Time (ACT/APTT) testing products
  • Pregnancy and fertility testing products
    • Pregnancy testing products
    • Fertility testing products
  • Tumor/Cancer marker testing products
  • Urinalysis testing products
  • Cholesterol testing products
  • Hematology testing products
  • Drug-of-Abuse (DoA) testing products
  • Fecal occult testing products
  • 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 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
  • Others

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
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
       

Frequently Asked Questions (FAQ) :

The global point of care testing industry revenue surpassed USD 24.2 billion in 2019 and is poised to expand at 7.1% CAGR through 2026.
The glucose monitoring segment held 25.1% of the point of care testing market share in 2019 and is projected to grow substantially owing to the growing prevalence of diabetes in both developed and developing economies.
The lateral flow assays technology in the global point of care testing industry share accounted for over USD 5.3 billion in 2019. Owing to the benefits like not needing electricity, running water, or expertise for its functioning, the segment is expected to witness substantial growth.
In 2019, North America held a 48.3% share of the global point of care testing market revenue. The rising prevalence of infectious diseases and increasing application of POC tests will drive the regional growth in the coming years.

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Premium Report Details

  • Published Date: Nov 2020
  • Pages: 400
  • Tables: 594
  • Charts / Figures: 27
  • Companies covered: 20
  • Countries covered: 15

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