The point of care diagnostic market is expected to grow from USD 36.725 billion in 2025 to USD 49.209 billion in 2030, at a CAGR of 6.03%.
The point-of-care diagnostics market is regarded as bedside testing which is known to be any form of diagnostic test that is performed in a laboratory. Point-of-care testing is done close to the patient but with the advent of modern medical advances, this type of testing has been made feasible to quickly and easily access a wide range of health factors to make the evaluation, diagnosis, prognosis, and screening as efficient as possible.
Point-of-care testing is essential in lowering the risk of potential errors which has resulted in the demand for point-of-care diagnosis increasing significantly both within and outside the hospital environment. A few factors such as the increased availability of portable, hand-held, and transportable devices have significantly attributed to the shift of testing from hospitals to even at home, emergency care, and even inconvenience clinic.
The growing prevalence of cardiovascular diseases and even diabetes in a few emerging nations such as China and India have further resulted in an increase in the demand for point-of-care diagnostics. For instance, according to the international diabetes federation in 2021, globally there were nearly 537 million adults belonging to the age group of 20 to 79 years living with diabetes globally.
Point-of-care tests have resulted in improving the management of infectious diseases, especially in developing regions but access to proper healthcare is a challenge. According to UNAIDS, around 20.6 million people in 2019 were living with HIV and 2.1 million people in India would be infected with HIV. Therefore, a high prevalence of HIV in the regions is likely to boost the demand for point-of-care diagnostics which is expected to accelerate the treatment of HIV infection
According to the World Health Organization, India accounts for the highest tuberculosis burden with an estimated incident of 2.64 million cases in 2020. In the year 2020, an estimated 15,898 people in Brazil would regard it to be at a strong risk of zika virus infections down over 30,000 cases which were reported in 2019.
An Increase in the occurrence rate of disorders is yet another critical factor that is fueling the demand for the point-of-care diagnostics market. For instance, according to CDC, worldwide approximately four to five million children develop respiratory syncytial virus and lower respiratory tract infections at least once a year.
North America is anticipated to grow significantly in the forecast period. An increase in the number of Covid-19 cases in the region is regarded to be a factor that is driving the growth of the point of care diagnostics market in the North American region.
Moreover, an increase in product innovations and the growth which can be seen in incidents of infectious and chronic disorders will also result in driving market growth in North America. USA and Canada are regarded to be key marketplaces responsible for regional market development.
Furthermore, this region has witnessed various governmental efforts leading to an increase in awareness about the early detection of regular health check-ups and diseases which is further leading to the promotion of point of care devices. Along with this, an increase in healthcare expenditures, a growth in the number of hospitals and even clinically diagnostic laboratories, and an increase in demand for collaborations among multiple players in the North American region is also expected to drive the market growth.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Point of Care Diagnostic Market Size in 2025 | US$36.725 billion |
| Point of Care Diagnostic Market Size in 2030 | US$49.209 billion |
| Growth Rate | CAGR of 6.03% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Point of Care Diagnostic Market | |
| Customization Scope | Free report customization with purchase |
Point of Care Diagnostics Market Segmentation