Medical diagnostics is shifting from conventional, lab-based testing towards testing directly at the point of care. Point-of-care testing refers to medical diagnostics or near the patient; this can be in hospital wards, physician's offices, retail clinics, and at home. By providing rapid results, point-of-care testing allows faster clinical action to be taken and reduces several pain points in healthcare such as follow-ups and hospital stays. Overall, this shift towards point-of-care will drive the market to a global revenue of $29.5 billion by 2032.
The global point-of-care testing market has more than doubled during the COVID-19 pandemic. The pandemic has caused massive changes to this market, that has changed the trajectory of the industry into the future. Large and productive government funding has ramped up production capacity for point-of-care devices giving the industry a big booster shot. Start-ups in the space have pivoted to COVID-19 as their use-case to launch new point-of-care platforms and build customer bases, while other platforms have doubled or tripled their install-bases.
Yet, under this limelight, the constraints of accuracy and accessibility around testing have come into public awareness. Market players are implementing key trends such as automation and connectivity into their technology as well as developing new testing platforms to meet these pain points.
In this webinar, Technology Analyst Andy Ko explores the latest IDTechEx research on the point-of-care testing market, and the rapid growth of the industry in the pandemic. Topics covered in this webinar will include:
- What is driving the growing need for point-of-care?
- Is point-of-care too expensive?
- Growth during the COVID-19 pandemic
- What's next for COVID-19 point-of-care?
- The market beyond COVID-19
- Key trends: miniaturization, automation, and digitalization
- Emerging transduction methods at point-of-care