Point of Care Diagnostics Market: Trends Influencing Cost-Effective Testing Solutions

The market is expected to see significant growth due to the rising elderly population and the capacity of point of care (POC) diagnostic tests to deliver rapid results. Additionally, the growing adoption of mobile diagnostic tools in middle-income nations is a major contributor to the market’s expansion. Another influential factor is the increasing financial support from both governmental and private organizations. For example, in September 2022, Unitaid committed USD 30 million to facilitate the deployment of advanced diagnostic technologies, improving accessibility to testing and enhancing screening efforts across lower-tier healthcare settings.

The continuous launch of innovative products also plays a pivotal role in the development of the POC diagnostics industry. Leading manufacturers are consistently rolling out advanced coagulation testing systems that meet evolving healthcare needs, providing improved accuracy and user-friendly designs. In February 2024, Roche released three new coagulation assays for oral Factor Xa inhibitors—rivaroxaban, apixaban, and edoxaban—in markets recognizing the CE mark. These tests are designed to support clinical decision-making in patients on direct oral anticoagulants, commonly used for systemic embolism, stroke prevention, and venous thromboembolism treatment and prevention.

Globally, the elderly population is rising at a rapid pace. According to a United Nations report, around 727 million people aged 65 and older were recorded in 2020, with projections indicating this number will more than double to surpass 1.5 billion by 2050. Aging is a major risk factor for various health conditions such as obesity and diabetes, which also increase vulnerability to infectious diseases. Older adults are particularly prone to diseases like cancer, cardiovascular conditions, neurological disorders, and diabetes. Consequently, the increasing global aging population is expected to be a key driver of the point of care diagnostics market.

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Regional Insights

North America led the point of care diagnostics market in 2024, capturing a 43.6% share. Factors such as a growing elderly population and higher healthcare spending significantly contribute to this dominance. The region also benefits from technological innovations, including the development of compact diagnostic tools that offer fast and precise results, as well as greater adoption of Electronic Medical Records (EMRs) and Picture Archiving and Communication Systems (PACS). Additionally, the presence of major market players like Abbott, BD, bioMérieux, Siemens Healthineers AG, Qiagen, Quidel Corporation, and Quest Diagnostics is positively impacting the market. Notably, in April 2023, Abbott received FDA clearance in the U.S. for its reader supporting the FreeStyle Libre 3 integrated continuous glucose monitoring system.

Leading Companies in the Point Of Care Diagnostics Market

Below are the prominent players shaping the point of care diagnostics market landscape. These companies hold substantial market shares and play a vital role in setting industry trends: