Global Point of Care Diagnostics Market Size, Forecast, and Trend Highlights Over 2025-2037
Point of Care Diagnostics Market size was valued at USD 42.7 billion in 2024 and is projected to reach USD 98.6 billion by the end of 2037, rising at a CAGR of 9.5% during the forecast period 2025-2037. In 2025, the industry size of point of care diagnostics is evaluated at USD 46.7 billion.
The market is experiencing significant growth driven by the rising infectious disease burdens (including HIV, hepatitis, and influenza) and the growing prevalence of chronic conditions such as diabetes and cardiovascular diseases. In this regard, WHO recorded approximately 422.3 million diabetes cases worldwide and 1.5 million new HIV infections in 2022. On the other hand, a 2024 report from the CDC has also demonstrated that it can reduce diagnostic turnaround times by 50.4-70.1%, making it essential for every healthcare setting, including hospitals, clinics, and decentralized medical service providers. It reflects the growing need for efficient and rapid testing tools, where Point of Care (POC) detection has proven its effectiveness, particularly in emergency scenarios.
The current dynamics of the payers' pricing in the market are primarily influenced by supply chain complexities and regulatory pressures. As the expenses in production amplify, the overall cost of undergoing a complete detection process under this category becomes more expensive for patients. This is testified by the gradual rate of increments in the producer price index (PPI) for associated equipment and consumer price index (CPI) for POC tests across the U.S. in 2023, which are 6.5% year-over-year (YoY) and 5.1%. Furthermore, the massive amount of capital required to acquire reliable resources of critical components and drugs also contributes to this rise in pricing. Thus, companies are now investing in extensive R&D to develop more cost-effective solutions.
