Point of Care Diagnostics Segmentation
Product (Infectious Disease Tests, Glucose Monitoring, Cardiometabolic Tests, Coagulation Testing, Pregnancy & Fertility Tests)
Based on product, the infectious disease tests segment is expected to dominate the point of care diagnostics market with a share of 32.5% by 2037. The rapid widespread of these ailments across the world, creating an emergency situation, is becoming a concern to general wellness. This is pushing authorized entities to take adequate actions to combat such life-threatening situations by deploying early detection and intervention. In this regard, the WHO, set its aim to cure the maximum number of HIV-afflicted residents by availing rapid tests to 120.2 million candidates every year by 2025. Simultaneously, the financial support from the governing bodies is also fueling investments in this segment. For instance, the CLIA waiving initiative on selected tests, commenced by the CDC, propelled POC adoption by 22.4% in emergency rooms.
Platform (Lateral Flow Assays, Molecular Diagnostics, Immunoassays, Microfluidics)
In terms of platform, the lateral flow assays (LFAs) segment is anticipated to gain the highest share of 28.5% in the market throughout the assessed timeline. Its clinically proven cost-effectiveness and optimum scalability are the major drivers behind its lead over other subtypes. As a result, it is desired across the globe, particularly in price-sensitive regions, to mitigate the cost barrier in advanced healthcare. For instance, the National Health Mission commenced a TB program in India, enabling access to an annual 1.3 billion LAF-empowered POCs at less than USD 1.5 per test. Similarly, the implementation of IVDR regulations in Europe escalated the surge for standardized LFA products by 15.4%. Moreover, the shifting preference toward value-based and compliant services is fueling this segment.
Our in-depth analysis of the global point of care diagnostics market includes the following segments:
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