Point of Care Technology Market Trends

Point of Care Technology Market Overview

Point of Care Technology Market Size was valued at USD 39.10 Billion in 2023. The Global Point of Care Technology industry is projected to grow from USD 42.60 Billion in 2024 to USD 78.31 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2024 - 2032).

The diagnosis & monitoring of several diseases, including cancer, diabetes, heart disorders, and others, use point-of-care (POC) diagnostics, which are medical equipment that provide an instantaneous response. The point-of-care technology market is driven by factors such as the rising prevalence of chronic illnesses, including diabetes, rheumatism, and cancer is rising for several reasons, including an aging population, sedentary lifestyles, poor dietary habits, and environmental factors. Point of care diagnostics is gaining popularity among patients worldwide since samples are taken from the patient's site for testing, and findings may be obtained in a very short period because of the usage of micro fluids, chips, and nano diagnostics. Thus, all these factors are anticipated to drive the growth of the  point of care technology market over the forecast period.

In October 2023, QIAGEN received CE certification for the IVD kit and automated testing platform NeuMoDx. This move positively impacted its revenue and market share.

Siemens Healthcare GmbH in May 2023 partnered with Unilabs in a deal worth over $ 200 million. Under this agreement, Unilabs was to buy four hundred laboratory analyzers aimed at improving infrastructure for patient care.

For instance, Sensible Diagnostics had plans to launch a POC PCR instrument that can perform PCR in 10 minutes by 2024 particularly as it relates to infectious diseases.

Trinity Biotech’s TrinScreen HIV, which received inclusion into the New Kenyan HIV Testing Algorithm, was among companies that added their products to the New Kenyan HIV Testing Algorithm. This initiative would ensure increased coverage of HIV patients using the product.

Hoffman-La Roche Ltd entered a strategic partnership with Eli Lilly in March 2023 to develop its Elecsys Amyloid Plasma Panel (EAPP). The two firms would mutually benefit from such a collaboration, and they were targeting an important area of unmet medical need: this panel could, therefore, become instrumental in streamlining confirmation of diagnosis as well as treatment and management plans for these patients

Huwel Lifesciences made a portable RT-PCR machine for virus types such as blood-borne or respiratory infections like SARS-CoV-2, which, according to the firm, takes about half an hour. It is claimed that blood or GI fluids may be used for detection purposes of respiratory bugs like SARS-CoV-2 when applied to this test.

Cipla Limited, based in India, came up with Cippoint, a point-of-care diagnostic device offering broad spectrum tests including diabetes, cardiac markers, fertility, infectious diseases, inflammation, thyroid function coagulation markers, metabolic markers etc, in January 2023.

Unitaid announced it would invest USD 30 million towards boosting the introduction of advanced diagnostic technologies to further improve screening and expand testing at the lower tiers of the health system in September 2022.

In July 2022, BioGX launched a CE-marked three-gene multiplex POC COVID-19 test using their highly efficient Xfree direct sample testing chemistry. Its emergency clearance USFDA was obtained for this test, which is part of the Xfree COVID-19 Direct RT-PCR assay that offers fast and accurate diagnosis of COVID-19.

Roche has launched its Cobas Pulse System in certain countries with CE Mark approval as of January 2022. With Roche Diagnostics' latest advances in integrated point-of-care solutions for professional blood glucose management, it is now easier and more efficient to monitor blood glucose levels using the system.

Thermo Fisher Scientific (TFS) received FDA Emergency Use Authorization (EUA) in October 2021 for its COVID-19 tests on SpectrumDNA SDNA-1000 collection device from Spectrum Solutions. This Amplitude Solution integrated high-throughput, automated testing system introduced a novel saliva sample collection method designed to expedite COVID-19 diagnostic process.

COVID-19 Impact Analysis

The impact of COVID-19 on the point of care technology industry remains good. Because of the increased incidence of COVID-19 infection worldwide, there was a greater demand for point-of-care diagnostics kits, such as COVID-19 fast kits used to identify COVID-19. As the frequency of COVID-19 rose, so did the demand for point of care testing kits. The pandemic has impacted several businesses ly, including the  market. Governments worldwide adopted many measures, including rigorous lockdowns to establish social distance rules to stop the quick spread of the virus. The market suffered as manufacturing plants worldwide were forced to shut down during the early phases of the pandemic. The outbreak immediately impacted small and medium-sized businesses, which are the backbone technology providers of the market.

In the month of December 2023, Thermo Fisher Scientific Inc. and Project HOPE, a leading global health & humanitarian organization, decided to partner so as to expand access to HIV testing services offered by Thermo Fisher for HIV Positive Youth in Sub-Saharan Africa.

BD achieved FDA approval for the BD Respiratory Viral Panel (RVP) for BD MAX System, a single test that combines a molecular diagnostic test that identifies and differentiates SARS-CoV-2, influenza B, and Respiratory Syncytial Virus (RSV) using one sample within approximately two hours in August 2023.

Moreover, bioMérieux obtained a US FDA CLIA-waiver for its BIOFIRE SPOTFIRE Respiratory (R) Panel Mini, which is the second multiplex PCR-based test cleared for use on BIOFIRE SPOTFIRE system in May 2023.

Siemens Healthcare GmbH entered into a deal with Unilabs worth over USD 200 million by May 2023. According to this agreement, Unilabs will buy 400 laboratory analyzers to improve infrastructure for patients’ care.

In July 2022, BioGX launched their Xfree COVID-19 Direct RT-PCR assay that utilized their highly efficient Xfree direct sample testing chemistry in developing a CE-marked three-gene multiplex POC COVID-19 test. It helped make credible COVID-19 diagnoses as it was approved by the emergency clearance from the USFDA.

Visby Medical announced receiving $25.5m funding from the US Biomedical Advanced Research and Development Authority in March 2022 to develop a Flu/COVID rapid RT-PCR test suitable for home use. The design of this PCR device capable of detecting both COVID-19 and Influenza A&B viruses is complete; however, it is still being developed.

This firm has received CE marking for iStatis COVID-19 Antigen Home Test and is a Canadian company, bioLytical Laboratories Inc. in March 2022.

For certain countries with the CE Mark approval, Roche has introduced its Cobas Pulse System by January 2022. It is their most recent improvement of clinically connected point-of-care systems for professional blood glucose management that enhances convenience in managing blood sugar levels effectively and efficiently.

Siemens Healthineers received the AtellicaVTLi Patient-Side Immunoassay Analyzer CE marking in April 2021. This is among the earliest applications to hit the market, which combines high-sensitivity cardiac troponin I (hs-cTnI) results intended to help diagnose and treat heart attacks.

Point of Care Technology Market Dynamics

The high prevalence of respiratory illnesses like influenza, COVID diseases, cardiac diseases, and infectious diseases, as well as growing online accessibility of point-of-care diagnostics products, supportive governmental policies, and an increase in CLIA-waived POC tests, are all contributing factors to the growth of the market over the forecast period. Furthermore, the growing healthcare decentralization and higher financing and expenditures in product development are anticipated to fuel market growth in the coming years. However, factors like pricing pressure brought on by reductions in reimbursement and budgetary restrictions are anticipated to impede the expansion of the point-of-care technology market during the projected period.

Market Drivers

• Growing prevalence of chronic diseases

Chronic illnesses and acute infections are on the rise in developing nations, owing to, among other things, a lack of health knowledge, inadequate medical infrastructure, and a sedentary lifestyle. As a result of these factors, diagnosis and treatment are delayed, as is the quality of care. The need for point-of-care tests for quick diagnosis is increasing because of their ease of use, low cost, and compact product size.

• Advantages related to OTC-based tests

Due to the rise of OTC testing, such as pregnancy tests and blood glucose tests that provide answers in just a few seconds, the point-of-care testing market for OTC tests will grow. Anyone may carry out these tests without the need for the assistance of a qualified professional advancing the field. For instance, the First Response kit is a rapid pregnancy test that offers a result in 60 seconds. Customers receive results from Accu-Chek active blood glucose meter kits in under 5 seconds, which increases market demand.

Market Restraints:

• Pricing pressure and budget constraints

The pricing pressure due to reimbursement cuts and lack of sufficient budgets has impacted the growth of the market. Additionally, it is said that spending on general-use medical equipment is stagnating due to the decline in the number of healthcare goods eligible for reimbursement, making it difficult for manufacturers to maintain pricing as the competition heats up. In the next years, it is anticipated that this aspect will present a significant barrier to expanding the  market.

Market Opportunities:

• Proof-of-concept experiments with multiplexing capabilities

Companies are working to build POC devices that can run numerous analytes on a single device. Multiplexing refers to the ability of these devices to test many analytes on the same cartridge simultaneously. Multiplex POC testing provides various advantages over commonly accepted singleplex tests, including enhanced efficiency at lower costs, larger output per sample, and higher throughput. These benefits will aid in the development of more precise and thorough diagnoses, as well as the advancement of tailored medication.

Point of Care Technology Market Segmentation Insights

Point of Care Technology Product Insights

Based on product, the  point of care technology market segmentation is glucose testing, cardiac markers, hba1c testing, and coagulation. The glucose monitoring segment accounted for the most revenue share in the  point of care technology market growth in 2021. The growing incidence of diabetes and rising patient awareness about the availability of POC testing in the market are predicted to boost the demand for glucose monitoring devices over the forecast period. The significant market share is due to increased sales of diabetes quick diagnosis kits. These are accessible over the counter without a prescription and aid the patients in self-testing and monitoring their glucose levels.

Point of Care Technology End User Insights

Based on end user, the  point of care technology market segmentation is clinics, hospitals, home care, and ambulatory care. The clinic's segment held the largest market share in 2021. Pharmacies and retail clinics mostly produce this segment's revenue. The primary elements driving the expansion of POC diagnostics applications are the increased availability of innovative diagnostic technology and improved healthcare coverage. On the hand, the home care segment is expected to register the highest CAGR during the forecast period. This segment extensively uses devices such as blood glucose meters, blood pressure monitors, HIV test kits, pregnancy test kits, and respiratory illness test kits.

Point of Care Technology Regional Insights 

By Region, the  point of care technology market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America has dominated the market with the largest revenue share in 2021. Asia-Pacific is to register the fastest growth rate over the forecast period.

North America

North America has dominated the market with the largest revenue share in 2021 and is expected to maintain its dominance over the next few years. The increasing prevalence of lifestyle diseases, rising government initiatives to support the wider adoption of POC diagnostics, strong presence of major industry players in the countries such as the US and Canada are anticipated to support the growth of the point-of-care technology market in North America.

Asia-Pacific

Asia-Pacific is expected to register the highest growth during the forecast period owing to the rising number of hospitals and clinical diagnostics laboratories. Moreover, the rise in patient population, introduction of new rapid test kit manufacturers, and increasing healthcare expenditure across the region are anticipated to drive the market growth in Asia-Pacific. The Asia-Pacific market is likely driven by a growing pool of local diagnostic kit and reagent manufacturers offering various testing options for detecting coronavirus infection.

 Point of Care Technology Market Competitive Landscape

The market includes tier-1, tier-2, and other local players. These companies have a  reach with diverse product portfolios. Companies such as Meridian Bioscience Inc., Quidel Corporation, and Beckman Coulter Inc. dominate the  market due to financial stability, strategic developments, product differentiation, and diversified regional presence. They also embrace strategic expansion efforts, including product launch, joint ventures, and partnerships to increase their market position and draw in a sizable consumer base.

Some major players in the point of care technology market research include 

• Meridian Bioscience Inc., 


• Quidel Corporation, 


• Beckman Coulter Inc., 


• Nova Biomedical, 


• PTS Diagnostics, 


• Instrumentation Laboratory, 


• Alere Inc., 


• Siemens AG, 


• Hoffmann-La Roche Ltd., 


• Johnson & Johnson Services Inc.

Scope of the  Point of Care Technology Market Report

Product Type Outlook

• Glucose Testing


• Cardiac Markers


• Hba1c Testing


• Coagulation

End User Outlook

• Clinics


• Hospital


• Home Care


• Ambulatory Care

Region Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Point of Care Technology Market Forecast and Size:

To identify and estimate the market size for the  point of care technology market report segmented by product type, end user, and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers in the  point of care technology market forecast between 2022 and 2030

Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges for the  point of care technology market growth

Market Influencing Factors:

To find out the factors which are affecting the  point of care technology market size among consumers

Impact of COVID-19:

To identify and understand the various factors involved in the  market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Diagnostic Kits Manufacturer


• Software Providers


• Governments, Associations, and Industrial Bodies


• Investors and Trade Experts