The point of care diagnostics market is projected to grow to USD 22.63 billion by 2029 from USD 15.05 billion in 2024, at a CAGR of 8.5% during the forecast period. Increasing number of patients affected by target conditions, such as diabetes, as well as growing prevalence of infectious diseases and positive government initiatives to promote POC testing are some of the factors that propel the market. With a greater incidence of chronic diseases such as diabetes and cardiovascular diseases, the need for immediate and readily available diagnostic technologies has been growing. The increasing rates of infectious diseases and the need for prompt testing further drive the adoption of POC tests in the market. Additionally, support from the government through funding and policies to expand healthcare access also promotes the acceleration of POC testing. All such factors are contributing to the growth of the POC diagnostics 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.
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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.
Related Reports:
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
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