PoC diagnostics market to record USD 14.65B growth from 2023-27

The global point of care diagnostics market size is estimated to grow by USD 14.65 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of over 10.65% during the forecast period.

Market overview
The Point of Care (POC) diagnostics market is witnessing notable growth across various segments such as obesity, diabetes, cancer, cardiovascular diseases, and neurological disorders. Unitaid, Huwel Lifesciences, and Werfen are key players offering novel products like RT PCR machines and coagulation monitoring devices. Clinics, hospitals, and home care settings are adopting these technologies to cater to increasing patient needs, despite reimbursement cuts.

Regulatory approval processes remain crucial for ensuring the safety and efficacy of tuberculosis, HIV-AIDS, and infectious disease testing kits. Moreover, there’s a rising demand for smartphone-based technology in self-testing for chronic diseases like diabetes, as highlighted in the IDF Diabetes Atlas. Emerging trends such as nanotechnology and Anavasi Diagnostics are shaping the landscape of POC diagnostics, facilitating quicker and more accessible testing methods.

With a focus on user-friendly devices like glucose monitoring kits and lateral flow assays, the healthcare system is evolving to provide efficient and reliable diagnostic solutions. Technavio