Overview and Scope
Point-of-care (POC) molecular diagnostics refers to tests that detect the presence of specific nucleic acids in a clinical specimen, such as feces, saliva, urine, blood, and tissue. This molecular diagnostic is based on seeing targeted portions of microbial genetic material, DNA or RNA. It is utilized by the healthcare sector to detect emergency usage authorization to diagnose diseases. Point-of-care (POC) molecular diagnostic is used to detection of disease antigens or antibodies in human samples, such as mononucleosis, influenza, and group A streptococcus (GAS).
Sizing and Forecast
The point-of-care molecular diagnostics market size has grown rapidly in recent years. It will grow from <b>$3.21 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. </b> 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 <b>$6.15 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. </b> 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.
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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the point-of-care molecular diagnostics market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the point-of-care molecular diagnostics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the point-of-care molecular diagnostics market include <b> Abbott Laboratories, F Hoffmann-La Roche Ltd., BioMérieux SA, Danaher Corporation, Quidel Corporation, BioMerieux SA, Bio-Rad Laboratories Inc., Sysmex Corporation, Illumina Inc., Myriad Genetics Inc., Siemens Healthcare GmbH, Almac Group, Biogenex Laboratories Inc., Cepheid Inc., Epic Sciences Inc., Foundation Medicine Inc., Genomic Health Inc., Grail Inc., Hologic Inc., HTG Molecular Diagnostics Inc., Inivata Ltd., Invivoscribe Inc., MolecularMD Corporation, Natera Inc., NeoGenomics Laboratories Inc., Personal Genome Diagnostics Inc., Prometheus Laboratories Inc., Ventana Medical Systems Inc., Vermillion Inc., Guardant Health Inc., Exact Sciences Corporation, Biocartis Group NV, ArcherDx Inc., Bio-Techne Corporation, AccuBiotech Co. Ltd., Becton, Dickinson and Company, Chembio Diagnostics Inc., Credo Diagnostics Biomedical Pvt. Ltd., EKF Diagnostics, GenePOC Inc. </b>
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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