There is an acute awareness of the value of rapid, accurate, and efficient testing near the patient. The market demands that more tests are moved out from large hospital laboratories and closer to the patient and care giver. POC tests can also help reduce healthcare costs by giving faster results and more rapid treatment.
Throughout the Covid pandemic, the use of POC testing increased substantially. This led to an acute awareness of the value of rapid, simple, and efficient testing near the patient. Most companies, healthcare providers, politicians and the general public realize the value of these tests, benefitting patients, clinicians, and healthcare in general. This interest has, in turn, created a need for new technologies that can meet the challenges of more demanding tests, whilst still being competitively priced.
Recent data shows that the global market for POCT (point of care testing) increased significantly to approximately USD $34.6 billion in 2021 and is expected to increase annually by 7.9 percent to approximately USD 70.9 billion by 2030.1
The global market for cardiac biomarkers was approximately USD $9.0 billion in 2021 and is expected to grow by approximately 9 percent per year until 2027. Thus, the estimated global market for cardiac biomarkers is expected to amount to approximately USD $14.9 billion in 2027.2
POC testing for cardiac biomarkers is driven by an increase in global heart disease, coupled with increased awareness about the utility of early diagnosis, in order to provide the most effective treatment for patients.2
The global market for troponin amounted to USD $1.4 billion in 2022 and is expected to increase to USD $2.6 billion in 2028. This corresponds to an average annual growth of 8.7 percent.3