PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629270
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629270
Point of Care Infectious Disease Testing Market size was valued at USD 11,409.43 million in 2023, expanding at a CAGR of 4.69% from 2024 to 2032.
Point of Care Infectious Disease Testing (POC IDT) refers to diagnostic tests conducted at or near the site of patient care, allowing for the rapid detection of infectious diseases. This approach enables healthcare providers to obtain immediate results, facilitating timely diagnosis and treatment decisions without the need to send samples to a central laboratory. POC IDT represents a significant progression in healthcare, offering rapid and accessible diagnostic solutions that enhance patient care and contribute positively to public health outcomes.
Point of Care Infectious Disease Testing Market- Market Dynamics
Rising Incidence of Infectious Diseases is expected to drive the growth of the market.
As the prevalence of infectious diseases such as influenza, COVID-19, HIV, hepatitis, and STIs rises, the demand for rapid and accessible testing solutions increases. POC tests provide timely results that facilitate immediate treatment decisions. According to the National Center for Biotechnology Information, Infectious diseases remain one of the leading causes of morbidity and mortality around the world accounting for more than 52 million (33%) annual deaths worldwide. Furthermore, Growing Demand for Rapid Testing may create growth opportunities for the market. However, Concerns about the accuracy and reliability of some POC tests can hinder market growth.
Point of Care Infectious Disease Testing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.69% over the forecast period (2024-2032)
Based on Technology segmentation, Molecular Diagnostics was predicted to show maximum market share in the year 2023
Based on Disease segmentation, COVID-19 was the leading type in 2023
Based on End-User segmentation, Clinics was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Point of Care Infectious Disease Testing Market is segmented based on Technology, Disease, End-User, and Region.
The market is classified into three segments according to technology: Lateral Flow Immunoassay, Agglutination Test, Flow-through Test/Immunoconcentration Assay, Molecular Diagnostics, and Others. Among these, Molecular Diagnostics holds a leading position in the market. This segment emphasizes the importance of swift and precise testing for infectious diseases conducted at or near the point of patient care, employing sophisticated molecular methods such as polymerase chain reaction (PCR) and next-generation sequencing (NGS).
The market is classified into two primary categories based on diseases: 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, COVID-19, and others. The COVID-19 segment holds a dominant position in the market. The pandemic underscored the urgent necessity for swift and precise testing to mitigate the virus's spread and enhance patient management.
The market is categorized into two segments according to the Users: Clinics, Hospitals, Home and Self Testing, Assisted Living Healthcare Facilities, and Laboratories. Clinics hold a dominant position within the market. These facilities, which encompass primary care, urgent care, and specialty clinics, gain significant advantages from the capability to conduct tests on-site, facilitating prompt decision-making regarding patient management.
Point of Care Infectious Disease Testing Market- Geographical Insights
This market is geographically extensive, encompassing North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These areas are further segmented based on the countries contributing to business activities. North America is the leading region in market growth, primarily due to the rising adoption of advanced point-of-care diagnostics for identifying various infectious diseases. The region benefits from a robust healthcare infrastructure that facilitates the integration of innovative diagnostic technologies. Hospitals, clinics, and laboratories are progressively implementing point-of-care testing solutions to improve patient care. According to the National Center for Biotechnology Information, as of July 13, 2020, over 3.3 million residents in the United States have been diagnosed with coronavirus disease 2019 (COVID-19), with more than 135,000 fatalities reported. Europe ranks as the second-largest region for market growth, driven by an increasing demand for home healthcare services.
The market for point-of-care (POC) Infectious Disease Testing is marked by significant competition among numerous stakeholders, fueled by the increasing need for swift and precise diagnostic solutions. A variety of companies are engaging in strategic alliances with healthcare organizations and technology enterprises to improve their testing capabilities and broaden their market presence. This competitive environment is dynamic and evolving. As the necessity for rapid and accurate diagnostics escalates, companies must remain agile in responding to shifting market demands and technological innovations.
On July 29, 2024, Roche announced the successful completion of its acquisition of LumiraDx's Point of Care technology, having obtained all necessary antitrust and regulatory approvals. Roche will now proceed with the comprehensive integration of the innovative multi-assay point-of-care platform, along with the associated research and development, operational, and commercial facilities, into its global organization.