Dublin, Nov. 21, 2023 (GLOBE NEWSWIRE) — The “Primary Care POC Diagnostics Market Size, Share & Trends Analysis Report By Product (Glucose Testing, Lipid Testing, Drug Abuse Testing), By End-use (Pharmacy & Retail Clinics, Physician Office), By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global market for primary care point-of-care (POC) diagnostics is witnessing a remarkable growth phase, projected to reach USD 26.17 billion by 2030. This expansion, at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030, underscores the increasing reliance on POC diagnostics in primary healthcare settings. This trend is particularly evident in the context of glucose testing, lipid testing, and drug abuse testing products, as well as their varied applications across pharmacies, retail clinics, and physician offices.
Key Market Drivers
- Increased Efficiency in Clinical Operations: A study by the American Journal of Clinical Pathology highlights the substantial improvements POC testing brings to clinical operations. Notably, it reduces follow-up calls and letters by 85% and 89%, respectively, and follow-up visits by 61%.
- Cost and Time Savings: The growing number of tests receiving waived status under the Clinical Laboratory Improvement Amendments (CLIA) contributes significantly to market growth. These tests reduce costs by about USD 12-15 per patient and decrease the need for follow-up tests by approximately 50%.
Market Segmentation Insights
- Dominant Segment by Product: The infectious disease segment held the largest market share (26.4% in 2022), driven by the need for rapid and accurate diagnosis and increased awareness of POC testing benefits.
- Promising Growth for Lipid Testing: With the rise in outpatient lipid testing practices, this segment is expected to see a significant increase in adoption rates.
- End-use Prospects: The physician office segment is likely to benefit from collaborative research for advanced POC testing kits. Conversely, government initiatives are poised to boost the non-practice clinics segment.
Regional Market Dynamics
- North America Leading the Way: The North American market, particularly the U.S., is at the forefront of this growth. Factors such as the availability of innovative POC diagnostic products, increased awareness, and the rising demand in primary home healthcare are pivotal.
- Patient Involvement and Digitalization in the U.S.: There’s a notable shift towards patient involvement in home-based tests and monitoring instruments in the U.S. Moreover, digitalization, Electronic Health Records (EHR), telemedicine, and web-enabled solutions for monitoring data are rapidly gaining traction, further propelling market growth.
Challenges and Future Outlook
While the primary care POC diagnostics market is on an upward trajectory, it faces challenges such as the overlap in methods and usage areas. However, the overall outlook remains positive, with advancements in technology and evolving healthcare practices promising further market expansion and innovation.
In summary, the primary care POC diagnostics market is poised for substantial growth, fueled by technological advancements, increased efficiency in clinical operations, and a heightened focus on patient-centric healthcare models. This trend signifies a transformative phase in the healthcare industry, with far-reaching implications for patient care and medical practices.
- F Hoffmann-La Roche Ltd.
- Siemens Healthineers
- bioMerieux SA
- Johnson & Johnson Services, Inc.
- Nova Biomedical
- Instrumentation Laboratory
- Trividia Health, Inc.
- OraSure Technologies, Inc.
- Quidel Corporation
- Trinity Biotech
- Sekisui Diagnostics
For more information about this report visit https://www.researchandmarkets.com/r/vb0sgv
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