Australia Point of Care Diagnostics Market: By Product (Glucose Monitoring, Cardiometabolic Monitoring, Coagulation monitoring, Pregnancy & Fertility Testing, Cholesterol Testing, Thyroid Stimulating Hormone Testing), By Platform (Lateral Flow Assay, Dipstick, Immunoassay, Molecular Diagnostics), By Sample (Blood, Urine, Nasal & Others), By End User (Clinical labs, Pharmacies, Hospitals, Home care & Others), and Country

The australia point of care diagnostics market size was valued at US$ 362.8 million in 2023 and is projected to grow at 12.4% CAGR from 2024 – 2030. Point-of-care diagnostics is a type of testing where the analysis is done at the location where the patient receives medical care it is also known as off-site testing, near patient testing (NPT), bedside testing etc. The key market driving factors of the market are the growing prevalence of target diseases such as cancer, diabetes, cardiovascular diseases, and infectious diseases, rising healthcare expenditure, increased awareness about early disease detection, and the need for rapid and accurate diagnostic results, point of care diagnostics are replacing traditional lab testing in many clinics which reduces the amount of time needed to determine the samples and transporting them and better results, less expenses, and quick results are some additional benefits of point-of-care diagnostics. Some restraints of the market are regulatory approval as international governing authorities have multi- layered regulations, the unaffordable devices into clinics.

The emerging opportunities of the market are producing fast results which is growing demand for the convenience, rapid diagnosis especially in chronic diseases like HIV and tuberculosis. Additionally, the emerging trends of the market include the development of home testing cancer kits which can monitor and analyse tumor cells, usage of lateral flow assays as they are more affordable and easier to conduct the tests with limited resources. Therefore, it is projected that the ageing population would have a significant impact on the market and drive growth internationally.

Key Developments

• In march 2023, Trinity Biotech's TrinScreen HIV was added to the New Kenyan HIV Testing Algorithm. The goal of this program was to give HIV patients more access to the product.
• In march 2023, Eli Lilly and F. Hoffman-La Roche Ltd. formed a strategic alliance for the further development of the former's Elecsys Amyloid Plasma Panel (EAPP). This panel has the potential to expedite a patient's journey from diagnosis to therapy and treatment maintenance, which would benefit both firms and address a significant area of unmet medical need.