It’s being expected that by 2028, the Point of Care Testing for Infectious Diseases market cap will hit US$ 20,207.60 at a CAGR growth of about 12.3%.
The global point of care testing for infectious disease testing market was valued at USD 2,168.4 million in 2018. Consistent growth in prevalence of infections, technological innovation, shift in providing patient centric services and growing demand for portable testing systems are some of the key growth indicators of this market. Conversely, stringent regulations, and longer duration consumed for commercialization of novel tests hinder the market growth. The ongoing surge in the incidence and prevalence of highly communicable diseases and high susceptibility of geriatric and pediatric patients such diseases is also a contributor to the growth of this market.
development in the field of point of care devices has been significant over the years with growing focus on quick results, better efficacy and miniaturization. Introduction of self-testing kits and portable devices has further increased the outreach of diagnostic tests while simultaneously assisted in disease containment in remote regions. market players are increasingly putting efforts in developing solutions that shall deliver results within minutes for deadly influenza infections and tropical diseases. This has also led to decreasing the burden on central laboratories to meet the growing demand for healthcare. These factors as a result, augment the demand for point of care testing for infectious diseases in the global market.
Point of Care Testing for Infectious Diseases Market Scope
Metrics | Details |
Base Year | 2020 |
Historic Data | 2018-2019 |
Forecast Period | 2021-2028 |
Study Period | 2018-2028 |
Forecast Unit | Value (USD) |
Revenue forecast in 2028 | US$ 20,207.60 |
Growth Rate | CAGR of 12.3 % during 2021-2028 |
Segment Covered | Product, Technology, Prescription, Application, End-use, Regions |
Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
Key Players Profiled | Abbott Laboratories, Accubiotech Co, Ltd., ACON Laboratories, Inc, Becton, Dickinson and Company, Biolytical Laboratories, Danaher Corporation (HemoCue), Siemens Healthineers and Meridian Bioscience |
Key Segment Of The Point of Care Testing for Infectious Diseases Market
by Product, 2021-2028 (USD Million)
• Glucose Monitoring
• Infectious Disease Testing
• HIV Testing
• Influenza Testing
• Hepatitis C Testing
by Prescription Mode, 2021-2028 (USD Million)
• Based Testing Marke
• OTC Testing
by End User, 2021-2028 (USD Million)
• Hospitals
• Clinical Laboratories
• Outpatient Healthcare
• Ambulatory Care Settings
• Home Care
• Research Laboratories
• Others
Regional Overview, 2021-2028 (USD Million)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Majority of the rapid diagnostics tests used worldwide are based on the versatile LFIA platform. However, there are many emerging technologies that are expected to improve the performance, accessibility and adoption among the users in the global market, one among them being microfluidics technology. The emerging microfluidic devices are integrated point of care systems for end to end fluid handling, processing and signal generation. This technology provides a low cost diagnostic tool to be used in home care or remote settings. Microfluidic devices or on-chip immunoassays have similarities to the standard ELISA, molecular diagnostic and LFIA platforms in terms of operation. Yet, the use of microfluidic assays reduces assay complexity and enables multiplex testing and HTS. On-chip immunoassays are particularly promising as it efficiently miniaturizes and integrates several steps such as cell lysis or extraction, purification and amplification of nucleic acids, and detection of reaction.
The ongoing efforts to develop lab on chip diagnostic tools include discovery of new biomarkers, and develop integrated immunoassay design and materials. However, researchers are also required to have equal focus on containing per-test cost.
Among the various infections commonly using point of care testing, HIV generates the largest adoption and revenue in the base year 2018. This trend is anticipated to continue through the forecast period with a prominent but temporary spike due to the ongoing COVID19 epidemic. Conventionally, the demand for point of care testing for infections such as influenza, multiple drug resistant tuberculosis shall consistently rise due to the perpetual incidence of these conditions in emerging economies. In the developed markets of North America and Western Europe, the market share of clinics in terms of adoption of POC tests shall be the highest. The penetration of these solutions in clinics in emerging countries shall also be observed during the forecast period due to growing awareness and improving healthcare expenditure.
North America, followed by Europe are the largest regional markets for point of care testing for infectious diseases. Factors such as domicile of major market players, presence of developed healthcare infrastructure, and better awareness are the key attributes of these regions. On the other hand, Asia Pacific is anticipated to be the fastest growing regional market through the forecast period. The R&D expenditure in the region is consistently growing especially in India, China and Japan. There has also been a phenomenal increase in the incidence of infections in the region and simultaneously government efforts towards containment of such diseases is also increasing. Moreover, several international market players are also keenly interested in introducing their novel assays in Asia Pacific and therefore harness the untapped opportunities.
Major companies operating in the point of care testing for infectious diseases market are Thermo Fisher Scientific Inc., Alere Inc., Chembio Diagnostic Systems Inc., Trinity Biotech plc, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., bioMérieux SA, Bio-Rad Labs Inc., Cardinal Health, BD & Company, Ortho-Clinical Diagnostics and others.