Point of Care Infectious Disease Testing Market Outlook 2031
The global point of care infectious disease testing market size was USD 2.69 Billion in 2022 and is projected to reach USD 11.05 Billion by 2031 register a substantial CAGR 17% during the forecast period, 2023–2031. The growth of the market is attributed to the current developments in consumer-centric services, high demand for portable and rapid testing products, and rapid increase in the number of cases of infectious diseases.
A point-of-care (POC) test is a kind of screening process and medical examination is adopted at or near the location of patients. The test allows quick testing process and enhances convenience of patients by providing easy access to several medical facilities, which lead to the improvement in patient treatment. With the advancement of POC testing, it helps to eliminate the need for repeated hospital visits, allowing for prompt healthcare actions, and effective treatment methods for infectious diseases.
Increasing inclination towards home healthcare from patients suffering from infectious disease present a key factor driving the market growth of the market. Rising demand for home healthcare can be attributed to introduction of several governments’ initiatives and growing patient awareness that has resulted to reducing hospital stays and healthcare expenses related to it.
Point of Care Infectious Disease Testing Market Trends, Drivers, Restraints, and Opportunities
- Increasing communicable disease occurrence and prevalence rates along with an ageing population with lower immunity are expected to drive the market expansion.
- Introduction of mobile and self-testing technology has expanded access to testing and tracking services to rural locations where there is a lack of prompt medical attention. This is a major market driver.
- Other than existing companies, new industry players are designing a large number of novel and groundbreaking algorithms and solutions. These solutions are expected to help in the market expansion.
- Increasing demand for localized research and declining ability of central laboratories to satisfy the increasing demand for healthcare are key factors boosting the market revenue.
- Strict regulatory policies in the diagnostic devices approval and lack of experts handling testing procedures are anticipated to impede the market growth.
- Increasing partner diagnostics adoption, infectious disease virulence, and the need for improved and more frequent surveillance systems in near-patient settings are offering several opportunities for the market growth.
Scope of Point of Care Infectious Disease Testing Market Report
The report on the global point of care infectious disease testing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Point of Care Infectious Disease Testing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Diseases (HIV POC, Clostridium Difficile POC, HBV POC, Pneumonia or Streptococcus Associated Infections, Respiratory Syncytial Virus POC, HPV POC, Influenza/Flu POC, HCV POC, MRSA POC, TB & Drug-resistant TB POC, HSV POC, and Other Infectious Disease POC) and End-Users (Hospitals, Clinics, Home, Assisted Living Healthcare Facilities, Laboratories, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Alere, Thermo Fisher Scientific Inc, F. Hoffmann-La Roche Ltd, Siemens Healthineers, BD & Company, Chembio Diagnostics Inc., Trinity Biotech, Cardinal Health, Quest Diagnostics Inc., Bio-Rad Labs Inc., bioMérieux SA, Sight Diagnostics Ltd., Gene POC, Trivitron Healthcare, OJ-Bio Ltd., and Ortho-Clinical Diagnostics.
Point of Care Infectious Disease Testing Market Segment Insights
HIV POC test segment is projected to account a major market share
Based on the diseases, the point of care infectious disease testing market is divided into HIV POC, Clostridium difficile POC, HBV POC, pneumonia or streptococcus associated infections, respiratory syncytial virus (RSV) POC, HPV POC, influenza/flu POC, HCV POC, MRSA POC, TB and drug-resistant TB POC, HSV POC, and other infectious disease POC.
The HIV POC test segment is expected to account for a key share of the market during the forecast period owing to the advancement and delivery of responsive and reliable device for the treatment of AIDS/HIV. However, the influenza/flu POC segment is anticipated to expand at a rapid pace during the forecast period owing to increasing disease incidence rates.
Clinics segment is projected to represent a key market share
On the basis of end-users, the market is segregated into hospitals, clinics, home, assisted living healthcare facilities, laboratories, and others. The clinics segment is expected to hold a key share of the market in the coming years due to increased use of these instruments and platforms in clinics. On the other hand, the assisted living healthcare facilities segment is anticipated to expand at a rapid pace during the forecast period owing to increased use of this market as a result of the demand from the geriatric population base.
North America is anticipated to dominate the market
On the basis of regions, the global point of care infectious disease testing market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the participation of major players, a well-established healthcare system, and technical advancements in this region.
However, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to increased R&D spending in patient-centered hospitals in Japan and China, the rapidly rising burden of chronic infectious diseases, and the presence of government programs that aimed at promoting early diagnosis.
The global point of care infectious disease testing market has been segmented on the basis of
- HIV POC
- Clostridium Difficile POC
- HBV POC
- Pneumonia or Streptococcus Associated Infections
- Respiratory Syncytial Virus (RSV) POC
- HPV POC
- Influenza/Flu POC
- HCV POC
- MRSA POC
- TB & Drug-resistant TB POC
- HSV (Herpes Simplex Virus) POC
- Other Infectious Disease POC
- Assisted Living Healthcare Facilities
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Thermo Fisher Scientific Inc
- F. Hoffmann-La Roche Ltd
- Siemens Healthineers
- BD & Company
- Chembio Diagnostics Inc.
- Trinity Biotech
- Cardinal Health
- Quest Diagnostics Inc.
- Bio-Rad Labs Inc.
- bioMérieux SA
- Sight Diagnostics Ltd.
- Gene POC
- Trivitron Healthcare
- OJ-Bio Ltd.
- Ortho-Clinical Diagnostics
Key players competing in the global point of care infectious disease testing market are Alere, Thermo Fisher Scientific Inc, F. Hoffmann-La Roche Ltd, Siemens Healthineers, BD & Company, Chembio Diagnostics Inc., Trinity Biotech, Cardinal Health, Quest Diagnostics Inc., Bio-Rad Labs Inc., bioMérieux SA, Sight Diagnostics Ltd., Gene POC, Trivitron Healthcare, OJ-Bio Ltd., and Ortho-Clinical Diagnostics.
Some of these players are establishing strategic alliances with other existing and emerging organizations. The partnerships aim to increase their market share by developing a broad product range that help in accurate diagnosis process.