The point of care blood testing devices market is forecasted to be valued at USD 49,973.6 million by 2032, up from USD 15,362.4 million in 2022, advancing at a CAGR of 11.3% during the forecast period.
| Report Attribute | Details |
|---|---|
| Point of Care Blood Testing Devices Market Value (2022) | USD 15,362.4 Million |
| Point of Care Blood Testing Devices Market Anticipated Value (2032) | USD 49,973.6 Million |
| Point of Care Blood Testing Devices Projected Growth Rate (2022 to 2032) | 11.3% |
There is a drastic increase in the number of people who are opting for self-medication practices, which is likely to boost the sales of point of care testing devices. The demand for point of care blood testing devices is increasing as they are easy to handle and are being used to perform various blood testing devices. They are getting being used to obtain diagnostic tests like blood metabolites, hormone blood tests, protein tests, prothrombin tests, and more.
Therefore, it is anticipated that the point of care blood testing devices market share is likely to witness significant growth during the forecast period of 2022 to 2032.
The demand for point of care blood testing devices is anticipated to rise as the changing lifestyle of the people has made the population go vigilant about their lifestyle diseases. Due to this, people prefer having the tests done in their household, without the hassle of visiting the diagnostic centres, boosting the sales of point of care blood testing devices.
Due to rising demand for portable monitoring devices, the point of care blood testing devices market share is projected to rise rapidly throughout 2032.
The adoption of point of care blood testing devices especially in the population with chronic conditions is contributing to the growth of the point of care blood testing devices market size.
Moreover, it is anticipated that there is an increased awareness among the population regarding diabetes in adults and children. Therefore, the key drivers boosting the sales of point of care blood testing devices are the increasing incidence of diabetes and different types of medical tests.
Furthermore, technological advances and recent trends in point of care blood testing devices market like point of care blood testing analyser and point of care diabetes analyzers are expected to foster the point of care blood testing devices market expansion.
A significant increase in infectious diseases contributes to the rise in demand for point of care blood testing devices, aiding towards a faster cure, and growing advantages of convenience like portability, transportable test kits, high accuracy levels, and availability of quicker results are likely to drive the point of care blood testing devices market outlook in a positive direction.
Initiatives by government and research grants extended in the developing countries are also to fuel the market and serve as a key driver propelling the sales of point of care blood testing devices during the forecast period.
Although the point of care blood testing devices can be used at a range of locations like emergency departments, healthcare practitioners’ offices, ambulances, accident scenes, emergency departments, and more, a lack of expertise, knowledge, and experience in using these technologies can act as a restraint to the point of care blood testing devices market growth. Furthermore, a high cost of product development is anticipated to slow down the overall expansion of the point of care blood testing devices market.
Depending on the type and nature of the sample or test, the product design needs to consider numerous areas of engineering application and technology. Hence, leads to an integration of the cartridge with the instrument for testing requiring a higher degree of coupling between the two components. This is noted to increase the overall product development cost, thereby impeding the industry landscape.
Moreover, the biomolecules used in developing POC tests are complex in nature and are expensive, which in turn, are anticipated to hamper the point of care blood testing devices market growth.
It is anticipated that North America is going to lead the market for point of care blood testing devices. Currently, the North American region contributes 33.4% of the total share of point of care blood testing devices market.
Due to the increasing rate of mortality caused by diabetes in this region and changes in the lifestyle habits people are inclining more toward the adoption of point of care blood testing devices. These factors coupled with an ageing population are expected to boost the market size of point of care blood testing devices over the analysis period.
The European market share is expected to follow the North American regions. Currently, Europe is accountable for 29.4% of the total market share of point of care blood testing devices.
The business landscape in Europe is driven by the expansion of the hospital industry, diagnostic centers, research laboratories and homecare settings in this region. Due to high incidence and prevalence of chronic diseases, there is a surge in the number of hospitalized patients, which is bolstering the market growth of point of care blood testing devices in Europe.
How are New Entrants Revolutionizing the Point of Care Blood Testing Devices Market?
The start-up ecosystem in the point of care blood testing market is intense with frequent innovations being made. Start-ups in the point of care blood testing market are focusing on improvising the devices and techniques of blood testing for faster results and convenience for the patients.
The US-based start-up Hememics develops a point of care platform to rapidly identify infectious disease pathogens. The platform uses a single nasal swab or a drop of blood to test and measure specific antibody and antigen signals. The entire testing process takes under 60 seconds, tests for up to 17 different pathogens, and provides real-time diagnostics to healthcare workers and alerts for health agencies.
Indian start-up Docturnal specializes in the development of a non-invasive point of care diagnostic solution. The low-cost and non-invasive solution uses AI and deep learning for the early and proactive detection of TB biomarkers and symptoms.
Singaporean start-up Biosensorix focuses on the development of low-cost and effective point of care blood testing solutions. The start-up’s immune assay-based platform, ELLI, detects biomarkers and pathogens.
Who are the Key Players in the Point of Care Blood Testing Devices Market?
Some of the major players in the point of care blood devices testing market are: Abaxis, Abbott Laboratories, Accubiotech Co, Ltd., ACON Laboratories, Inc, Becton, Dickinson and Company, Biolytical Laboratories, Danaher Corporation (HemoCue), Siemens Healthineers and Meridian Bioscience, Inc.
It is anticipated that a strong focus of market players on research & development for innovating new devices incorporating the technological advances aid in the growth of the point of care blood testing devices market.
These market players opt for various inorganic growth strategies such as partnerships, collaborations, mergers, acquisitions, and product launches to create a global footprint and industry competition for point of care blood testing devices.
Key Developments in the Point of Care Blood Testing Devices
Some key developments in the point of care blood testing devices market is:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD million, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Technology, Prescription, End Use, Region |
| Regions Covered | North America; Latin America, Europe; East Asia, South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Abaxis; Abbott Laboratories; Accubiotech Co, Ltd.; ACON Laboratories, Inc.; Becton; Dickinson and Company; Biolytical Laboratories; Danaher Corporation (HemoCue); Siemens Healthineers; Meridian Bioscience, Inc. |
| Customization | Available Upon Request |
Table 1: Global Market Value (US$ Mn) Forecast by Region, 2017-2032
Table 2: Global Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 3: Global Market Value (US$ Mn) Forecast by Technology, 2017-2032
Table 4: Global Market Value (US$ Mn) Forecast by Distribution Channel, 2017-2032
Table 5: North America Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 6: North America Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 7: North America Market Value (US$ Mn) Forecast by Technology, 2017-2032
Table 8: North America Market Value (US$ Mn) Forecast by Distribution Channel, 2017-2032
Table 9: Latin America Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 10: Latin America Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 11: Latin America Market Value (US$ Mn) Forecast by Technology, 2017-2032
Table 12: Latin America Market Value (US$ Mn) Forecast by Distribution Channel, 2017-2032
Table 13: Europe Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 14: Europe Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 15: Europe Market Value (US$ Mn) Forecast by Technology, 2017-2032
Table 16: Europe Market Value (US$ Mn) Forecast by Distribution Channel, 2017-2032
Table 17: Asia Pacific Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 18: Asia Pacific Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 19: Asia Pacific Market Value (US$ Mn) Forecast by Technology, 2017-2032
Table 20: Asia Pacific Market Value (US$ Mn) Forecast by Distribution Channel, 2017-2032
Table 21: MEA Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 22: MEA Market Value (US$ Mn) Forecast by Product Type, 2017-2032
Table 23: MEA Market Value (US$ Mn) Forecast by Technology, 2017-2032
Table 24: MEA Market Value (US$ Mn) Forecast by Distribution Channel, 2017-2032
Figure 1: Global Market Value (US$ Mn) by Product Type, 2022-2032
Figure 2: Global Market Value (US$ Mn) by Technology, 2022-2032
Figure 3: Global Market Value (US$ Mn) by Distribution Channel, 2022-2032
Figure 4: Global Market Value (US$ Mn) by Region, 2022-2032
Figure 5: Global Market Value (US$ Mn) Analysis by Region, 2017-2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022-2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022-2032
Figure 8: Global Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 9: Global Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 10: Global Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 11: Global Market Value (US$ Mn) Analysis by Technology, 2017-2032
Figure 12: Global Market Value Share (%) and BPS Analysis by Technology, 2022-2032
Figure 13: Global Market Y-o-Y Growth (%) Projections by Technology, 2022-2032
Figure 14: Global Market Value (US$ Mn) Analysis by Distribution Channel, 2017-2032
Figure 15: Global Market Value Share (%) and BPS Analysis by Distribution Channel, 2022-2032
Figure 16: Global Market Y-o-Y Growth (%) Projections by Distribution Channel, 2022-2032
Figure 17: Global Market Attractiveness by Product Type, 2022-2032
Figure 18: Global Market Attractiveness by Technology, 2022-2032
Figure 19: Global Market Attractiveness by Distribution Channel, 2022-2032
Figure 20: Global Market Attractiveness by Region, 2022-2032
Figure 21: North America Market Value (US$ Mn) by Product Type, 2022-2032
Figure 22: North America Market Value (US$ Mn) by Technology, 2022-2032
Figure 23: North America Market Value (US$ Mn) by Distribution Channel, 2022-2032
Figure 24: North America Market Value (US$ Mn) by Country, 2022-2032
Figure 25: North America Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 28: North America Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 29: North America Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 30: North America Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 31: North America Market Value (US$ Mn) Analysis by Technology, 2017-2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Technology, 2022-2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Technology, 2022-2032
Figure 34: North America Market Value (US$ Mn) Analysis by Distribution Channel, 2017-2032
Figure 35: North America Market Value Share (%) and BPS Analysis by Distribution Channel, 2022-2032
Figure 36: North America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2022-2032
Figure 37: North America Market Attractiveness by Product Type, 2022-2032
Figure 38: North America Market Attractiveness by Technology, 2022-2032
Figure 39: North America Market Attractiveness by Distribution Channel, 2022-2032
Figure 40: North America Market Attractiveness by Country, 2022-2032
Figure 41: Latin America Market Value (US$ Mn) by Product Type, 2022-2032
Figure 42: Latin America Market Value (US$ Mn) by Technology, 2022-2032
Figure 43: Latin America Market Value (US$ Mn) by Distribution Channel, 2022-2032
Figure 44: Latin America Market Value (US$ Mn) by Country, 2022-2032
Figure 45: Latin America Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 48: Latin America Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 51: Latin America Market Value (US$ Mn) Analysis by Technology, 2017-2032
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Technology, 2022-2032
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Technology, 2022-2032
Figure 54: Latin America Market Value (US$ Mn) Analysis by Distribution Channel, 2017-2032
Figure 55: Latin America Market Value Share (%) and BPS Analysis by Distribution Channel, 2022-2032
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2022-2032
Figure 57: Latin America Market Attractiveness by Product Type, 2022-2032
Figure 58: Latin America Market Attractiveness by Technology, 2022-2032
Figure 59: Latin America Market Attractiveness by Distribution Channel, 2022-2032
Figure 60: Latin America Market Attractiveness by Country, 2022-2032
Figure 61: Europe Market Value (US$ Mn) by Product Type, 2022-2032
Figure 62: Europe Market Value (US$ Mn) by Technology, 2022-2032
Figure 63: Europe Market Value (US$ Mn) by Distribution Channel, 2022-2032
Figure 64: Europe Market Value (US$ Mn) by Country, 2022-2032
Figure 65: Europe Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 68: Europe Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 69: Europe Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 70: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 71: Europe Market Value (US$ Mn) Analysis by Technology, 2017-2032
Figure 72: Europe Market Value Share (%) and BPS Analysis by Technology, 2022-2032
Figure 73: Europe Market Y-o-Y Growth (%) Projections by Technology, 2022-2032
Figure 74: Europe Market Value (US$ Mn) Analysis by Distribution Channel, 2017-2032
Figure 75: Europe Market Value Share (%) and BPS Analysis by Distribution Channel, 2022-2032
Figure 76: Europe Market Y-o-Y Growth (%) Projections by Distribution Channel, 2022-2032
Figure 77: Europe Market Attractiveness by Product Type, 2022-2032
Figure 78: Europe Market Attractiveness by Technology, 2022-2032
Figure 79: Europe Market Attractiveness by Distribution Channel, 2022-2032
Figure 80: Europe Market Attractiveness by Country, 2022-2032
Figure 81: Asia Pacific Market Value (US$ Mn) by Product Type, 2022-2032
Figure 82: Asia Pacific Market Value (US$ Mn) by Technology, 2022-2032
Figure 83: Asia Pacific Market Value (US$ Mn) by Distribution Channel, 2022-2032
Figure 84: Asia Pacific Market Value (US$ Mn) by Country, 2022-2032
Figure 85: Asia Pacific Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 88: Asia Pacific Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 89: Asia Pacific Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 90: Asia Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 91: Asia Pacific Market Value (US$ Mn) Analysis by Technology, 2017-2032
Figure 92: Asia Pacific Market Value Share (%) and BPS Analysis by Technology, 2022-2032
Figure 93: Asia Pacific Market Y-o-Y Growth (%) Projections by Technology, 2022-2032
Figure 94: Asia Pacific Market Value (US$ Mn) Analysis by Distribution Channel, 2017-2032
Figure 95: Asia Pacific Market Value Share (%) and BPS Analysis by Distribution Channel, 2022-2032
Figure 96: Asia Pacific Market Y-o-Y Growth (%) Projections by Distribution Channel, 2022-2032
Figure 97: Asia Pacific Market Attractiveness by Product Type, 2022-2032
Figure 98: Asia Pacific Market Attractiveness by Technology, 2022-2032
Figure 99: Asia Pacific Market Attractiveness by Distribution Channel, 2022-2032
Figure 100: Asia Pacific Market Attractiveness by Country, 2022-2032
Figure 101: MEA Market Value (US$ Mn) by Product Type, 2022-2032
Figure 102: MEA Market Value (US$ Mn) by Technology, 2022-2032
Figure 103: MEA Market Value (US$ Mn) by Distribution Channel, 2022-2032
Figure 104: MEA Market Value (US$ Mn) by Country, 2022-2032
Figure 105: MEA Market Value (US$ Mn) Analysis by Country, 2017-2032
Figure 106: MEA Market Value Share (%) and BPS Analysis by Country, 2022-2032
Figure 107: MEA Market Y-o-Y Growth (%) Projections by Country, 2022-2032
Figure 108: MEA Market Value (US$ Mn) Analysis by Product Type, 2017-2032
Figure 109: MEA Market Value Share (%) and BPS Analysis by Product Type, 2022-2032
Figure 110: MEA Market Y-o-Y Growth (%) Projections by Product Type, 2022-2032
Figure 111: MEA Market Value (US$ Mn) Analysis by Technology, 2017-2032
Figure 112: MEA Market Value Share (%) and BPS Analysis by Technology, 2022-2032
Figure 113: MEA Market Y-o-Y Growth (%) Projections by Technology, 2022-2032
Figure 114: MEA Market Value (US$ Mn) Analysis by Distribution Channel, 2017-2032
Figure 115: MEA Market Value Share (%) and BPS Analysis by Distribution Channel, 2022-2032
Figure 116: MEA Market Y-o-Y Growth (%) Projections by Distribution Channel, 2022-2032
Figure 117: MEA Market Attractiveness by Product Type, 2022-2032
Figure 118: MEA Market Attractiveness by Technology, 2022-2032
Figure 119: MEA Market Attractiveness by Distribution Channel, 2022-2032
Figure 120: MEA Market Attractiveness by Country, 2022-2032
The point of care blood testing devices market is predicted to register a CAGR of 11.3% from 2022 to 2032.
North America is anticipated to lead the point of care blood testing devices market.
The point of care blood testing devices market is likely to hold a valuation of USD 49,973.6 million by 2032.
The healthcare and the diagnostic sector leads the point of care blood testing devices market.
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Point Of Care Blood Testing Devices Market
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