December 19, 2024
Boston: According to the latest BCC Research study on “Point-of-Care Diagnostics: Technologies and Global Markets,” the POC market is expected to grow from $40.6 billion in 2024 to $65.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029.
The point-of-care diagnostics market is rapidly evolving with the integration of new technologies and methodologies, offering significant potential for growth through 2029. This report explores the market landscape, examining components such as hardware (devices, equipment, consumables), software, and analytics. It also segments the market by test types, including alcohol and drug abuse, blood gas electrolyte and metabolite (BGEM), cardiac markers, cholesterol, glucose monitoring, hemoglobin/hemostasis, infectious diseases, pregnancy and fertility, tumor marker, and urine chemistry. The report includes an analysis of the global market by region, and covers the market drivers, challenges, opportunities, and industry strategies, such mergers, acquisitions, and collaborations. the report serves as a vital resource for companies targeting geographic expansion.
The transformative impact of AI in POC diagnostics is due to its ability to deliver accurate, reliable test results without requiring skilled personnel. This innovation has the potential to revolutionize healthcare access, particularly in remote or underserved regions by improving healthcare quality in these resource-limited areas. For instance, AI-powered platforms such as Sight OLO utilize convolutional neural network (CNN) algorithms to accurately identify and count blood cells, making it a valuable tool for early disease detection. Such advances in AI-driven diagnostics not only improve healthcare accessibility but also enhance testing efficiency, broadening the reach of medical services worldwide.
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The factors driving the global market for POC diagnostics include:
Incidence of Infectious Diseases: Infectious diseases such as HIV, tuberculosis, and malaria remain widespread globally. POC diagnostics enable rapid testing and immediate results, essential for timely treatment and disease control.
Growing Prevalence of Chronic Diseases: The prevalence of chronic conditions such as diabetes, cardiovascular diseases, and cancer is rising. POC diagnostics facilitate regular monitoring outside traditional settings, increasing demand due to their convenience and need for continuous care.
Demand for Self-Testing: The trend toward self-testing for privacy and convenience is growing. Products such as home pregnancy tests, glucose monitors, and COVID-19 kits enable individuals to manage their health from home.
Global Aging Population: As the aging population grows, so does the need for frequent medical monitoring. POC diagnostics offer a convenient solution for elderly patients.
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Report Synopsis
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Report Metric |
Details |
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Base year considered |
2023 |
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Forecast period considered |
2024-2029 |
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Base year market size |
$36.9 billion |
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Market size forecast |
$65.9 billion |
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Growth rate |
CAGR of 10.2% from 2024 to 2029 |
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Segments covered |
Test type, product type, end user, region |
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Regions covered |
North America, Europe, Asia-Pacific, and the Rest of the World (RoW) |
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Countries covered |
U.S., Canada, Mexico, Germany, France, the U.K., Italy, Spain, China, India, Japan, Australia, and South Korea |
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Market drivers |
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Recently announced POC diagnostics diagnostics products:
1. CytoTracker Leukometer (January 2024):
2. D3 Array–UTI (February 2024):
The report addresses the following questions:
1. What is the projected size and growth rate of the market?
2. What segments are covered in the report?
3. Which test type will dominate the market in 2029?
4. Which region has the largest market share?
Innovative Startups
Shenzhen Mindray Bio-Medical Electronics Co. Ltd: Mindray introduced the TEX20 Series Point of Care ultrasound system at Euroanaesthesia 2022. This system integrates imaging and physiological data through its X-Link solution, improving patient assessment, diagnosis, and treatment in critical care and emergency medicine.
GE Healthcare: In January 2023, GE HealthCare became an independent company after being spun off from GE. In February 2024, GE HealthCare launched the LOGIQ ultrasound portfolio, including the new LOGIQ Totus, an ultrasound solution that delivers high-quality imaging and AI-powered diagnostic support. This portfolio enhances precision care with AI tools, offering better imaging, efficient workflow, and Verisound digital solutions.
Market leaders include:
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Point-of-Care Diagnostics: Technologies and Global Markets( HLC043H )
Publish Date: Oct 2024
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