The global point-of-care diagnostics market is estimated to be valued at USD 23.71 billion in 2017 and is projected to reach USD 38.13 billion by 2022 growing at a CAGR of 10.0%. Increasing private investments and venture funding towards the development of new products along with the growing government support to increase the adoption of POC devices are expected to drive the demand for point-of-care diagnostic products during the study period.
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In this report, the market has been segmented by product, platform, mode, end user, and region.
On the basis of products, the global POC diagnostics market is segmented into products for—glucose monitoring, infectious disease testing, coagulation testing, cardiometabolic testing, hematology testing, urinalysis testing, cholesterol testing, drugs of abuse testing, tumor/cancer marker testing, pregnancy and fertility testing, fecal occult testing, and others (multi-assay testing, liver testing, hepatitis A & B testing, and vitamin assay testing). The infectious disease testing products segment is expected to grow at the highest CAGR during the forecast period owing to the increasing number of HIV-infected individuals across the globe, coupled with increasing availability and awareness about HIV POC testing in emerging markets.
On the basis of mode of prescription, the point-of-care diagnostics market is categorized into two segments—prescription-based testing and OTC testing. The OTC-based testing segment is expected to be the fastest-growing segment of the global point-of-care diagnostics market during the forecast period. The increasing adoption of OTC POCT devices across the globe is propelling the demand for OCT testing kits and contributing to its market growth.
On the basis of platforms, the point-of-care diagnostics market is further segmented into lateral flow assays, immunoassays, POC molecular diagnostics, dipsticks, and microfluidics. The molecular diagnostics segment is expected to grow at the highest CAGR during the forecast period owing to growing advancements in technology and increasing initiatives of market players for developing POC molecular diagnostic products.
On the basis of end users, the point-of-care diagnostics market is segmented into professional diagnostic centers, home care, research laboratories, and other end users. The home care segment is expected to be the fastest-growing segment of the point-of-care diagnostics market during the forecast period. The growth of this segment can be attributed to the increasing preference for home and remote monitoring and rising demand for rapid tests among home care users.
Based on region, the point-of-care diagnostics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America is expected to hold the largest share of the global POC diagnostics market. The US is estimated to hold the largest market share of the North American market in 2017. Increasing prevalence of lifestyle diseases, growing number of product approvals, and the availability of venture capital funding are the major factors contributing to the growth of the POC diagnostics market in the country.
In addition, emerging markets such as China, India, and Brazil are expected to offer significant growth opportunities for market players owing to the rising focus of local governments to improve healthcare infrastructure of countries and the presence of large patient pool.
