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Globe and Mail
a day ago
- Business
- Globe and Mail
Point of Care Diagnostics Market to Hit USD 22.63 Billion by 2029 with 8.5% CAGR
"The major players operating in this market are Abbott (US), Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Danaher (US), QuidelOrtho Corporation (US), BD (US), Thermo Fisher Scientific Inc. (US), bioMérieux (France), BIOSYNEX SA (France), EKF Diagnostics Holdings plc (UK)" Browse 786 market data Tables and 64 Figures spread through 577 Pages and in-depth TOC on "Point of Care Diagnostics Market by Product (Glucose, Infectious Disease (TB, HAI, STD), Pregnancy), Purchase Mode (Rx, OTC), Technology (Biochemistry, MDx (RT-PCR, INAAT)), Sample (Blood, Urine), End User (Home Care, Hospitals) - Global Forecast to 2029 The global point of care diagnostics market valued at US$ 14.26 billion in 2023, is forecasted to grow at a robust CAGR of 8.5%, reaching US$ 15.05 billion in 2024 and an impressive US$ 22.63 billion by 2029. The growing prevalence of chronic diseases, such as diabetes has necessitated a need for routine monitoring with early and timely detection. Since these conditions need to be constantly monitored, the demand for quick, effective, and appropriate testing methods have expanded. For instance, increasing demand for POC diagnostics like glucose monitoring products is because of the easy, quick results, which patients get, helping them to take care of the disease and make an early intervention. Government initiatives promoting POC testing, including investments in health care innovation are also contributing to increased market growth. Browse in-depth TOC on " Point of Care Diagnostics Market" 778 - Tables 59 - Figures 564 - Pages Advances such as miniaturized, transportable diagnostic devices, which present laboratory-quality findings outside of health care settings, represent a leading technological shift within the point of care diagnostics market. These small devices, largely based on new, advanced forms of biosensors, will deliver testing in real-time with higher degrees of accuracy at a faster cost and are sure to revolutionize health care. These will affect health care primarily in areas related to conditions whose management requires routine monitoring, which includes diabetes and infectious diseases. As these devices continue to become increasingly accessible and affordable, they are going to create new business opportunities in home healthcare, telemedicine, and emergency care, and accelerating adoption across all patient populations. Based on mode of purchase, the point of care diagnostics market is segmented into OTC testing products and prescription-based testing products. The prescription-based testing products segment is expected to be the fastest-growing segment in the market. Stricter regulatory standards, focus on quality, and healthcare providers' recommendation for the test are among the key factors that contribute to the high growth rate of prescription-based testing products. These products need to be subjected to very strict quality and safety measures, which improves the credibility and reliability of these products. Healthcare providers actively engage in using these tests in a way that they produce the best clinical results. With the focus on early detection, prescription-based testing continues to experience strong market growth, which is driving its high growth rate. Categorized by technology, the point of care diagnostics market is segmented into immunoassays, molecular diagnostics, and biochemistry. The biochemistry segment is the dominant technology segment because these tests can quickly, reliably, and cost-effectively provide the results for conditions such as diabetes and pregnancy & fertility testing. Real-time results offered by biochemistry-based tests, like glucose meters are easy to use and well-suited both for homecare and emergency applications. Such technologies assure on-site diagnosis without the complexity of expensive laboratory infrastructure in a point of care environment. With such convenience, accessibility, and ability to cater to increasing demands for rapid and efficient testing, biochemistry technology continues to lead the market. The key players in this market are Abbott (US), Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Danaher (US), QuidelOrtho Corporation (US), BD (US), Thermo Fisher Scientific Inc. (US), bioMérieux (France), BIOSYNEX SA (France), EKF Diagnostics Holdings plc (UK), Trinity Biotech (Ireland), Werfen (US), Nova Biomedical (US), SEKISUI Diagnostics (US), and Boditech Med Inc. (South Korea). The market players have adopted various strategies such as development of advanced products, partnerships, expansions, and acquisitions to strengthen their position in the point of care diagnostics market. The organic and inorganic strategies have helped the market players expand globally by providing advanced point of care tests. Abbott is a key player in the point of care diagnostics market, offering a comprehensive range of diagnostic solutions such as blood screening, immunoassays, and clinical chemistry systems. The company's strong global presence allows it to expand its reach in both established and emerging markets. Abbott stays ahead of the competition through continuous innovation and a focus on research and development. By introducing new products and securing important regulatory approvals, Abbott has solidified its leadership. For example, in April 2024, the company's i-STAT TBI cartridge received FDA clearance to be used with whole blood, further strengthening its position in the POC diagnostics market. F. Hoffmann-La Roche Ltd is a major player in the global point of care diagnostics market, having gained a reputation as a leader in the diagnostics market. Its extensive portfolio and global presence have enabled the company to maintain its competitive edge. Roche has an excellent direct and indirect distribution network across the world, which allows it to compensate for demand volatility in the various markets. Its strategic focus both on organic and inorganic growth strategies further strengthens the company's market presence. For instance, the cobas pulse system was launched by Roche in January 2022 as a connected point-of-care solution to be used with professional blood glucose monitoring only in certain CE Mark countries. All these strategies, along with its strong presence in the market, have given Roche further opportunities to enhance its position within the point of care diagnostics market. Siemens Healthineers AG is a leading company in the point of care diagnostics market, providing a broad range of products like clinical chemistry platforms, immunodiagnostics, and molecular diagnostic testing. The company is committed to expanding its portfolio through strategic acquisitions and innovations in order to respond to the changing needs of patients and healthcare providers. Moreover, Siemens Healthineers focuses on partnerships to further strengthen its position in the market. With a significant worldwide presence in over 70 countries, the group is poised well for growth in the POC diagnostics market. For more information, Inquire Now!
Yahoo
5 days ago
- Business
- Yahoo
Rapid Diagnostics Market to Reach $24.28 Billion by 2032, Growing at a CAGR of 6.6% from 2025, Says Meticulous Research®
Market Growth Driven by Rising Demand for Point-of-Care Diagnostics, Increasing Prevalence of Chronic and Infectious Diseases, Emergency Department Needs, and Technological Innovations REDDING, Calif., June 30, 2025 , June 30, 2025 --- According to a comprehensive market research report titled "Rapid Diagnostics Market Size, Share, Forecast, & Trends Analysis by Product (Kits [OTC, Professional], Readers) Platform (Lateral Flow, Serological, PCR) Application (Diabetes, Infectious Diseases, Pregnancy, HIV) Sample (Blood) - Global Forecast to 2032," the Rapid Diagnostics market is projected to reach $24.28 billion by 2032, growing at a robust CAGR of 6.6% during the forecast period. The growth of the rapid diagnostics market is driven by increasing demand for point-of-care (POC) diagnostics, the rising prevalence of chronic diseases alongside an aging population, the need for swift decision-making in emergency departments, and ongoing technological innovations. The market's expansion is fueled by the growing necessity for early disease detection, enhanced diagnostic accessibility, and the integration of smartphone-based diagnostic platforms across global healthcare systems. The industry is experiencing revolutionary transformation through advanced automation integration, AI-powered diagnostic platforms, and development of innovative lateral flow assays. Leading companies are embracing digital diagnostic technologies while expanding into emerging markets and developing sophisticated value-added services for healthcare providers worldwide. For more comprehensive insights, download the FREE report sample: Revolutionary Market Transformation Through Advanced Diagnostic Innovation The rapid diagnostics market represents a paradigm shift in healthcare delivery and patient care optimization. As healthcare systems increasingly prioritize rapid decision-making and cost-effective diagnostic solutions, rapid diagnostics offers a revolutionary approach that addresses the growing demand for immediate, accurate, and accessible diagnostic testing across diverse healthcare environments. Market leaders are investing heavily in advanced platform technologies and smartphone integration capabilities, establishing diagnostic solutions that can deliver scalable, reliable, and user-friendly rapid testing systems. This technological advancement is making sophisticated diagnostic testing increasingly accessible while delivering superior accuracy and patient convenience benefits. Dynamic Growth Across Key Market Segments Based on product type, the Kits segment dominates the market in 2025, capturing approximately 67.6% of the total market share due to increasing adoption and frequent use of kits, expanding portfolio of disease-specific rapid kits for early diagnosis of chronic and infectious diseases, and ongoing technological advancements. This segment is also expected to register the highest CAGR of 7.2% during the forecast period, driven by rising demand for home-use diagnostic kits and point-of-care testing solutions. Based on platform, the Immunoassay segment leads the market with 54.2% market share, reflecting high prevalence of infectious and chronic diseases, lower costs compared to traditional laboratory-based tests, ongoing technological innovations, and increasing demand for lateral flow assay kits suitable for home use. However, the Molecular Detection Tests segment is experiencing the fastest growth with 6.2% CAGR, driven by high sensitivity and accuracy of these tests, growing need for advanced diagnostic techniques, and widening applications across various medical fields. Based on application, the Infectious Diseases segment accounts for the largest market share in 2025, attributed to rising prevalence of infectious diseases, high awareness levels, and major efforts regarding early diagnosis, monitoring, and surveillance following the COVID-19 pandemic. The Tumor/Cancer Markers Testing segment is expected to register the highest CAGR during the forecast period, driven by rising cancer prevalence worldwide, growing investments in cancer biomarker research, and advancements in cancer diagnostic technologies. Get Insightful Data on Regions, Market Segments, Customer Landscape, and Top Companies (Charts, Tables, Figures and More) - Strategic Market Opportunities and Innovation Drivers The market presents extraordinary growth opportunities through smartphone-based diagnostic platform integration, emerging market expansion, and development of specialized home-care diagnostic solutions. Companies are discovering new revenue streams through advanced automation capabilities and vertical healthcare integration while establishing comprehensive rapid diagnostic ecosystems. Key market drivers include: Point-of-Care Diagnostics Demand: Increasing preference for immediate diagnostic results enabling healthcare providers to make rapid treatment decisions while reducing patient wait times and improving clinical outcomes Advanced Technology Integration: Implementation of smartphone-based platforms, AI-powered result interpretation, and blockchain-enabled data security enhancing diagnostic accuracy, accessibility, and patient data protection Chronic Disease Prevalence: Rising incidence of diabetes, cardiovascular diseases, and cancer necessitating regular monitoring and early detection through convenient rapid diagnostic solutions Emergency Department Optimization: Growing need for rapid diagnostic tools in emergency settings to address overcrowding, improve resource utilization, and enhance patient triage and treatment decisions Regional Market Leadership and Emerging Growth North America commands the largest market share in 2025 with approximately 41% of the global market, driven by highly developed diagnostic infrastructure, high number of laboratory tests performed annually, rising prevalence of chronic diseases coupled with aging population growth, and increasing adoption of self-testing kits among the general population. Asia-Pacific emerges as the fastest-growing region with a projected CAGR of 10.1% during 2025-2032, propelled by aging population demographics, rising prevalence of infectious and chronic diseases, various government initiatives promoting health awareness, and expanding healthcare infrastructure investments. Europe represents a significant market, supported by advanced healthcare systems, stringent regulatory frameworks ensuring quality standards, growing demand for personalized diagnostic solutions, and presence of leading diagnostic technology providers with emphasis on innovation and compliance. Request a customized research analysis tailored to your specific requirements: Dynamic Competitive Landscape Driving Innovation The global rapid diagnostics market features an innovative competitive ecosystem comprising established diagnostic manufacturers, emerging technology companies, and integrated healthcare solution providers. This diverse landscape fosters rapid technological advancement through sophisticated platform development and specialized diagnostic expertise. Industry leaders are implementing integrated solutions that combine advanced diagnostic technologies with comprehensive data management capabilities and patient-centric design features. Companies are pursuing strategic partnerships and acquisitions while addressing scalability and regulatory challenges across different diagnostic applications and geographic markets. Immediate Delivery Available | Buy this Research Report (Insights, Charts, Tables, Figures and More) - Market Leaders Shaping Industry Future Key players driving the global rapid diagnostics market include Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), ACON Laboratories, Inc. (U.S.), Creative Diagnostics (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), BioMérieux S.A. (France), Alfa Scientific Designs, Inc. (U.S.), BTNX Inc. (Canada), Meridian Bioscience, Inc. (U.S.), and Trinity Biotech plc (Ireland). These companies are focusing on strategies such as advanced platform technology development, smartphone integration capabilities, comprehensive product portfolio expansion, strategic partnerships and acquisitions, and geographic expansion into emerging markets to strengthen their market position and capture growing demand for rapid diagnostic solutions. Latest Industry Developments Recent market developments include: Smartphone-Based Platform Innovation: Development of advanced mobile diagnostic platforms integrating deep learning algorithms for improved accuracy, automated result interpretation, and secure patient data management through blockchain technology Advanced Lateral Flow Technology: Implementation of DNA nanostructures replacing traditional antibodies in lateral flow assays, offering higher binding affinity and specificity for target antigens while reducing manufacturing costs Home Healthcare Integration: Strategic expansion of diagnostic capabilities for home-care environments, addressing growing demand for self-testing solutions and remote patient monitoring across chronic disease management Market Challenges and Opportunities While the market shows strong growth potential, it faces challenges including regulatory compliance requirements across different jurisdictions, maintaining diagnostic accuracy while reducing costs, ensuring quality standards in home-use applications, and addressing healthcare infrastructure limitations in emerging markets. However, significant opportunities exist in expanding smartphone-based diagnostic adoption, growing healthcare expenditure in developing countries, increasing demand for personalized diagnostic solutions, emerging applications in telemedicine and remote healthcare delivery, and rising need for specialized diagnostic expertise in infectious disease management. The Home Care/Self-Testing segment is projected to experience rapid growth during the forecast period, driven by rising incidence of chronic diseases necessitating ongoing monitoring, expanding utilization of home healthcare services, and enhanced availability of accessible and advanced point-of-care diagnostic products. Related Reports: Point of care Diagnostics Market In Vitro Diagnostics (IVD) Market IVD Reagents Market Molecular Diagnostics Market About Meticulous Research We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with market intelligence designed to drive revenue transformation and strategic growth. Our insights reveal future growth opportunities, equipping clients with a competitive edge through a versatile suite of research solutions—including syndicated reports, custom research, and direct analyst engagement. To find out more, visit or follow us on LinkedIn Contact: Mr. Khushal Bombe Meticulous Market Research Pvt. 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