The Point-Of-Care Molecular Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Point-Of-Care Molecular Diagnostics Global Market Report 2024, The point-of-care molecular diagnostics market size has grown rapidly in recent years. It will grow from $3.21 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to increasing demand for rapid disease diagnosis, growth in infectious disease outbreaks, expansion of telemedicine and remote testing, regulatory support for point-of-care diagnostics, need for personalized and precision medicine.
The point-of-care molecular diagnostics market size is expected to see rapid growth in the next few years. It will grow to $6.15 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to miniaturization of diagnostic devices, expansion of poc testing for cancer and genetic diseases, customized molecular diagnostics for diverse applications, integration of ai and machine learning for data analysis, emerging infectious disease surveillance.. Major trends in the forecast period include lab-on-a-chip and microfluidic technologies, digital health and smartphone-based diagnostics, point-of-care covid-19 and pandemic preparedness, ai-driven predictive diagnostics, crispr-based molecular testing.
The rapid growth in the increasing occurrence of infectious and respiratory diseases is expected to significantly contribute to the growth of the point-of-care molecular diagnostics market. Respiratory infections, such as viruses or bacteria, are caused by microorganisms that influence the respiratory system. These microbes can be transferred through coughing, sneezing, or direct touch. The severity of the respiratory medications includes a variety of inhalers, oral medications, intravenous treatments, and point-of-care molecular diagnostic to cure the patient. For instance, according to the Office for National Statistics, a UK-based recognized national statistics institute, in England at the end of the week ending December 9, 2022, the infection rate climbed for people aged 35 to 69 years and increased for those in school years 12 to 24 years. Therefore, the rapid occurrence of infectious and respiratory diseases and death will drive the point-of-care-molecular diagnostics market.
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The point-of-care molecular diagnostics market covered in this report is segmented –
1) By Product And Service: Assays And Kits, Instruments And Analyzers, Software And Services
2) By Technology: Reverse Transcription – Polymerase Chain Reaction (RT-PCR), In Situ Hybridization, Sequencing
3) By Application: Respiratory Diseases, Hospital Acquired Infections (HAIs), Cancer/Oncology, Hepatitis, Hematology
4) By End-User: Decentralized Labs, Hospitals, Home Care, Assisted Living Healthcare Facilities
Technological innovation is a key trend gaining popularity in the point-of-care molecular diagnostics market. Major companies operating in the point-of-care molecular diagnostics market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation point-of-care molecular diagnostics technologies solutions and related services, such as enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), and mass spectrometry (MS), situ hybridizations, spectral karyotyping imaging, DNA microarrays, and others to implement on POC devices with features of accelerating analysis times and lowering costs. For instance, In May 2023, Sensible Diagnostics, a US-based diagnostics company, launched a 10-minute point-of-care PCR system. Sensible Diagnostics is utilizing the experience Curative has gained with its diagnostics business during the pandemic. The firm said it has run more than two million molecular point-of-care COVID-19 tests, and its PCR platform has a 10-minute time-to-result.
The point-of-care molecular diagnostics market report table of contents includes:
1. Executive Summary
2. Point-Of-Care Molecular Diagnostics Market Characteristics
3. Point-Of-Care Molecular Diagnostics Market Trends And Strategies
4. Point-Of-Care Molecular Diagnostics Market – Macro Economic Scenario
5. Global Point-Of-Care Molecular Diagnostics Market Size and Growth
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26. South America Point-Of-Care Molecular Diagnostics Market
27. Brazil Point-Of-Care Molecular Diagnostics Market
28. Middle East Point-Of-Care Molecular Diagnostics Market
29. Africa Point-Of-Care Molecular Diagnostics Market
30. Point-Of-Care Molecular Diagnostics Market Competitive Landscape And Company Profiles
Top Major Players:
- Abbott Laboratories
- F Hoffmann-La Roche Ltd
- BioMérieux SA
- Danaher Corporation
- Quidel Corporation
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