Global Point-of-Care Diagnostics Market set to reach $91.47 billion by 2032 with 7.72% CAGR
From GlobeNewswire: 2025-03-21 10:00:00
The global Point-of-Care Diagnostics Market was valued at USD 46.97 billion in 2023, expected to reach USD 91.47 billion by 2032, with a CAGR of 7.72% from 2024 to 2032. Technological innovation and rising chronic diseases are driving market growth, with POC diagnostics enabling quick on-site testing for better patient outcomes.
Major players in the market include Abbott, Roche Diagnostics, and Siemens Healthineers, among others. These companies offer a range of diagnostic solutions, from blood glucose monitoring to infectious disease testing, catering to various healthcare needs and driving market growth.
Blood glucose monitoring led the POC diagnostics market in 2023, with a 54% market share, driven by the high incidence of diabetes globally. On the other hand, the pregnancy and fertility testing segment is expected to witness rapid growth due to increased adoption rates and convenience for consumers.
The blood sample segment dominated the POC diagnostics market in 2023 for its efficiency in diagnosing various conditions. However, the urine sample segment is expected to witness the highest growth due to its non-invasive nature and effectiveness in identifying health conditions, driving its popularity.
North America held a 43% market share in the POC diagnostics market in 2023, driven by a robust healthcare infrastructure and high chronic disease prevalence. Asia-Pacific is expected to witness the fastest growth, fueled by rising healthcare spending and awareness, leading to increased demand for diagnostic solutions.
Recent developments include QIAGEN’s NeuMoDx receiving CE certification and BD securing 510(k) clearance for its MRSA imaging application utilizing AI technology, enhancing their competitive positions in the market. The global prevalence of diabetes has reached 10%, emphasizing the need for accessible blood glucose monitoring solutions. In North America, over 70% of primary care settings use point-of-care diagnostic tools. Artificial intelligence in POC diagnostics has improved accuracy by 25%. Home-based POC testing kits saw a 40% increase in adoption in 2023. Global healthcare spending on POC diagnostics increased by 15% year-over-year.
SNS Insider offers a comprehensive report on Point-of-Care Diagnostics Market Analysis & Outlook 2024-2032. The report includes a detailed table of contents covering key points, market dynamics impact analysis, statistical insights, competitive landscape, regional analysis, company profiles, and more. Access the full report details at the provided link for in-depth information.
SNS Insider is a top market research and consulting agency providing crucial insights to help clients navigate changing market conditions. Through various methods like surveys and focus groups, we offer current and accurate market data, consumer insights, and opinions to empower confident decision-making. Contact us for more information or customized research solutions at [email protected].
Read more at GlobeNewswire: Point-of-Care Diagnostics Market Size to Hit USD 91.47