Point of Care (POC) Diagnostics Devices Market Size

Point of Care Diagnostics Market size was valued at USD 47.95 billion in 2024 and is likely to cross USD 104.81 billion by 2037, expanding at more than 6.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of point of care diagnostics is assessed at USD 50.48 billion.

The demand for POC testing devices for COVID-19, such as glucometers, pulse oximeters, and rapid COVID-19 test kits among others, observed a forward surge in the year 2020, owing to the outbreak of COVID-19 pandemic, and the need amongst nations to diagnose the virus that has affected millions of people globally. According to the statistics by the World Health Organization (WHO), a total of 117,332,262 confirmed cases of COVID-19 has been reported till the 10^th of March 2021. Alternatively, throughout the forecast period, the market is predicted to grow on account of the increasing prevalence of chronic diseases worldwide and the need amongst individuals for the diagnosis of these diseases. Additionally, the increasing accuracy of the analysis obtained from these devices, and the rapid advancements observed in these devices, are further anticipated to drive the market growth in the coming years.