Point of Care Testing Market Analysis

Point of Care Testing Market Analysis

The glucose monitoring segment in the point of care testing market is projected to reach USD 19.2 billion by 2032 attributed to the increasing adoption of portable, highly convenient, and cost-effective as well as rapid POC glucose tests. The short turnaround time of point-of-care blood glucose (BG) testing has contributed to its growing popularity over central laboratory testing. Furthermore, blood glucose POCT eliminates post-analytical and pre-analytical elements that might impact test analysis, such as transportation, multiple user handling, order verification, and delayed reporting, consequently strengthening.
 

Point of care testing market from the biosensors technology is anticipated to record more than USD 26.7 billion in revenue in 2032. Biosensors technology has gained significant prominence due to its ability to provide rapid, accurate, and on-site diagnostic information. As a result, healthcare professionals can make quick and informed decisions leading to improved patient outcomes. In January 2023, Intricon, a developer of smart miniaturized electronics-powered medical devices launched the new Biosensors Centre of Excellence to integrate its biosensor device expertise into a vertically connected entity for providing biosensor devices to the medical industry.
 

Point of care testing market from the nephrology testing segment is expected to grow at 7.2% CAGR by 2032, owing to the rising frequency of kidney failures and other associated disorders. According to the CDC report published in 2023, more than 1 in every 7 adults, approximately 35.5 million Americans suffer from chronic kidney diseases. The use of POCT in nephrology has resulted in quicker and more reliable findings, allowing earlier interventions and personalized treatment programs. Furthermore, the portability and ease of use of point of care testing devices offers testing in distant and resource-limited settings, boosting patient outcomes and lowering healthcare costs.
 

North America point of care testing market size is projected to generate more than USD 35.5 billion by 2032. Rising R&D investments and thriving private funding for healthcare infrastructure development are driving the industry expansion. Furthermore, several market participants are focused on developing testing solutions to deliver early results, consequently enhancing the regional market outlook. For instance, in May 2023, a Los Angeles-based startup, Sensible Diagnostics, developed a small, low-cost sample-to-answer device that can conduct PCR in 10 minutes, together with affordable test cartridges, with the initial focus on infectious disease testing at the point of care.