Point of Care Testing Market Size

Point of Care Testing Market Size

Point Of Care Testing Market size was over USD 38.5 billion in 2022 and is poised to witness 7% CAGR from 2023 to 2032 driven by the rising prevalence of multiple medical diseases across developing countries.

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The rising frequency of infectious illnesses and chronic ailments, such as cardiovascular diseases, particularly in India and Africa, has increased the demand for point of care testing. According to the WHO report, in 2021, around 37.7 million people suffered from HIV, with more than two-thirds of them (25.4 million) residing in developing countries, such as Africa and India, among others. Similarly, the Ebola virus disease pandemic in West Africa caused massive economical disruptions and many deaths. The diagnostic management of these illnesses relies heavily on point of care testing technologies.
 

Point of Care Testing Restraints

The rising need for timely and efficient patient management, especially in emergency settings has fueled the adoption of point of care testing (POCT) devices. The growing advancements in technology along with the surging shift towards personalized medicine has led to the rising trend of decentralizing healthcare services. Depending on the kind and nature of the sample or test, the product designs make use of a wide range of engineering applications and technologies. The rise in the overall cost of product development due to cartridge integration for increasing the connectivity between the two components.