The Point of Care Diagnostics Market is expected to reach US$ 88.83 Bn by 2031 from US$ 37.93 Bn in 2024; the market is estimated to grow at a CAGR of 13.0% during 2024-2031. Major factors driving the market growth include increasing prevalence of infectious diseases and key product launches and developments. However, product recalls among the market deterrents.

Point-of-care testing (POCT) is critical for the diagnosis, treatment, and prevention of infectious diseases. It can be used to detect major pathogens, including human immunodeficiency virus (HIV), malarial parasites, human papillomavirus (HPV), Ebola, dengue, and Zika viruses, and Mycobacterium tuberculosis (TB bacteria). According to the World Health Organization (WHO) data, 1.3 million people (including 214,000 individuals affected by HIV) succumbed to TB in 2022. Its estimates also indicate that 10.6 million individuals in the world will have TB in 2022, including 3.5 million women, 1.3 million children, and 5.8 million men. Additionally, 30 countries with high TB burdens contributed 86-90% of new TB cases during 2022. Eight countries contributed two-thirds of the total, with India leading the way, followed by the Philippines, China, Indonesia, Pakistan, Nigeria, Bangladesh, and South Africa. As per the WHO, HIV has infected over 39.9 million people worldwide. In 2023, people were diagnosed with HIV, out of which 1.3 million people were newly diagnosed, including 77% adults and 57% children. According to a study published by Joint United Nations Programme on HIV/AIDS (UNAIDS) in 2023, ~630,000 people died due to HIV and associated conditions. As per the European Centre for Disease Prevention and Control, ~2.6 million people in Europe were infected with HIV in 2023. Healthcare-associated infections (HAIs), including central line-associated bloodstream infections and catheter-associated urinary tract infections (UTIs), might affect patients in hospitals and other healthcare facilities. According to WHO, ~9 million HAIs occur every year and cause nearly 25 million additional hospitalization days in Europe yearly. As per the same source, HAI leads to an additional financial burden of approximately US$ 14.0-26.0 billion in Europe each year. As per the Office of Disease Prevention and Health Promotion, 1 out of 31 hospitalizations in the US suffer from HAI at any given time. Thus, the increasing prevalence of infectious diseases is expected to create a demand for point-of-care test diagnostics worldwide.

The comparative company analysis evaluates and categorizes the point of care diagnostics market based on product portfolio (product satisfaction, product features, and availability), recent market developments (merger & acquisition, new product launch & enhancement, investment & funding, award, agreement, collaboration, & partnership, recognition, and expansion), and geographic presence that aids better decision-making and understanding of the competitive landscape. The report profoundly explores the recent significant developments and innovations by the leading vendors in the global Point of Care Diagnostics Market. The key market players are F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Abbott Laboratories, QIAGEN NV, Siemens AG, BD, bioMerieux SA, Polymer Technology Systems, Inc. (PTS), Nova Biomedical Corporation, Danaher Corp

The point of care diagnostics market, based on product, is divided into glucose monitoring, infectious disease testing, cardiometabolic testing, pregnancy and fertility testing, coagulation testing, tumor/cancer marker testing, cholesterol testing, urinalysis testing, hematology testing, thyroid testing, others. The glucose monitoring segment held the largest share of the Point of Care Diagnostics Market in 2024, and it is expected to register the highest CAGR during 2024-2031. Based on purchase mode, the point of care diagnostics market is segmented into OTC and Prescription. In 2024, the Prescription segment held the largest share of the market. Based on sample, the point of care diagnostics market is segmented into blood, urine, others. In 2024, the Blood segment held the largest share of the market. Based on end user, the point of care diagnostics market is segmented into healthcare facilities, homecare, and others. In 2024, the healthcare facilities segment held the largest share of the market.

Various organic and inorganic strategies are adopted by companies operating in the Point of Care Diagnostics Market. The organic strategies mainly include product launches and product approvals. Inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, along with contributing to the overall market growth. Furthermore, strategies such as acquisitions and partnerships helped strengthen their customer base and extend their product portfolios. A few of the significant developments by key players in the Point of Care Diagnostics Market are listed below.

In July 2024, Roche the completion of the acquisition of LumiraDx's Point of Care technology, following the receipt of all required antitrust and regulatory clearances. Roche will now embark on the full integration of the company's innovative multi-assay point of care platform and the related R&D, operational and commercial sites into its global organization.