The non-hospital-based point-of-care diagnostic products market is expected to grow from US$ 12.9 billion in 2022 to US$ 33.6 billion by 2032, at a CAGR of 9.1 % during the forecast period. This growth is attributed to a number of factors, including the rising prevalence of chronic diseases, increasing demand for home healthcare, and technological advancements in point-of-care (POC) diagnostics.
POC diagnostics are medical tests that can be performed outside of a traditional hospital or laboratory setting, such as in a clinic, doctor’s office, or at home. This makes them convenient and accessible for patients, and can help to improve the speed and efficiency of diagnosis and treatment.
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Due to the availability of numerous self-test kits and devices, the demand for point-of-care diagnostic tools that are not hospital-based is increasing. In addition, these are frequently utilised in home care settings, and throughout the forecast period from 2022 to 2032, clinics are expected to increase their market share of non-hospital based point-of-care diagnostic tools.
Adoption of in-vitro diagnostic medical devices with a medical use is point-of-care diagnostic goods based on hospital infrastructure. Due to their widespread usage in making diagnoses of various illnesses or keeping track of specific treatments, sales of point-of-care diagnostics that are not hospital-based are probably to rise.
Non-hospital-based POC diagnostic products are used in a wide range of settings, including:
- Clinics and doctor’s offices
- Home healthcare settings
- Schools and workplaces
- Retail pharmacies
- Sports and fitness facilities
These products are used to diagnose a variety of conditions, including infectious diseases, chronic diseases, and allergies.
Some of the key drivers of growth in the non-hospital-based POC diagnostic products market include:
- Rising prevalence of chronic diseases: The prevalence of chronic diseases such as diabetes, heart disease, and cancer is increasing worldwide. This is driving the demand for POC diagnostic products that can be used to monitor and manage these conditions.
- Increasing demand for home healthcare: The demand for home healthcare is growing as people are living longer and have more complex medical needs. POC diagnostic products can be used to provide patients with the care they need in the comfort of their own homes.
- Technological advancements in POC diagnostics: Technological advancements are making POC diagnostic products more accurate, reliable, and affordable. This is making them more attractive to patients, clinicians, and healthcare organizations.
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Key Takeaways:
- The non-hospital-based point-of-care diagnostic products market is expected to grow significantly in the coming years, driven by a number of factors, including the increasing prevalence of chronic diseases, the rising geriatric population, and technological advancements.
- The blood glucose testing segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing prevalence of diabetes and the growing demand for self-monitoring devices.
- The infectious diseases testing segment is also expected to grow rapidly, driven by the rising prevalence of infectious diseases such as COVID-19.
- The clinics segment is expected to be the largest end-user segment during the forecast period. However, the home healthcare segment is expected to grow at the fastest CAGR. This is due to the increasing demand for home-based healthcare services.
The non-hospital-based point-of-care diagnostic products market is a growing market with a lot of potential. Companies that are able to develop innovative and affordable point-of-care diagnostic products are well-positioned to benefit from this growth.
Key Companies Profiled:
- Abbott Laboratories Inc.
- Siemens Healthcare GmbH
- Bio Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.,
- Roche Diagnostics (H. Hoffman-La Roche Ltd.)
- STD Rapid Test Kits
The non-hospital-based point-of-care diagnostic products market is segmented by product, application, and end user.
By product:
- Blood glucose testing
- Infectious diseases testing
- Coagulation testing
- Cardiac testing
- Drug testing
- Other products
By application:
- Diabetes management
- Infectious disease management
- Cardiovascular disease management
- Cancer management
- Other applications
By end user:
- Clinics
- Home healthcare
- Retail pharmacies
- Other end users
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