What Has Been The Evolution of the Point-Of-Care Molecular Diagnostics Market in Recent Years?
The point-of-care molecular diagnostics market has seen considerable growth due to a variety of factors.
• In recent times, the point-of-care molecular diagnostics market has experienced significant expansion. The market is forecasted to progress from a worth of $3.55 billion in 2024 to $4.01 billion in 2025, showcasing a compound annual growth rate (CAGR) of 12.9%.
Several factors have contributed to this growth in the historic period, including an increased need for quick disease diagnosis, a surge in the incidence of infectious diseases, the broadening scope of telemedicine and remote testing, regulatory backing for point-of-care diagnostics, and the necessity for personalized and precision medicine.
What Is the Forecasted Market Size and Growth Rate for The Point-Of-Care Molecular Diagnostics Market?
The point-of-care molecular diagnostics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for point-of-care molecular diagnostics is projected to witness substantial expansion in the upcoming years, eventually reaching a value of $7.02 billion in 2029 with a compound annual growth rate (CAGR) of 15.0%.
This growth during the predicted period is influenced by factors such as the downsizing of diagnostic tools, the increase of poc testing in cancer and genetic ailment fields, personalized molecular diagnostics for a variety of uses, the incorporation of artificial intelligence and machine learning in data deciphering, and monitoring of emerging infectious diseases. The anticipated trends within this period include the integration of lab-on-a-chip and microfluidic technologies, the use of digital health and smartphone-oriented diagnostics, preparedness for point-of-care covid-19 and other pandemics, predictive diagnostics powered by AI, and molecular testing utilizing crispr.
Which Factors Are Boosting Growth In The Point-Of-Care Molecular Diagnostics Market?
The increasing incidence of infectious and respiratory diseases is predicted to greatly boost the point-of-care molecular diagnostics market's expansion. Respiratory infections, caused by microorganisms such as viruses or bacteria, impact the respiratory system, and they can be spread through coughing, sneezing or physical contact. The range of treatments for severe respiratory conditions includes a plethora of inhalers, oral medications, intravenous therapies and point-of-care molecular diagnostics to aid patient recovery. For example, data from the Office for National Statistics, a reputable national statistics institute in the UK, indicated that infection rates for individuals aged 35 to 69 surged towards the end of the week ending December 9, 2022, and also went up for those in school years 12 to 24. Consequently, the swift rise in infectious and respiratory diseases and associated mortality is expected to fuel the growth of the point-of-care-molecular diagnostics market.
What Key Areas Define The Segmentation Of The Global Point-Of-Care Molecular Diagnostics Market?
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
Subsegments:
1) By Assays And Kits: Nucleic Acid Amplification Tests (NAATs), Rapid Diagnostic Tests, Molecular Detection Kits, Reagents And Consumables
2) By Instruments And Analyzers: PCR Machines, Microfluidic Devices, Sequencers, Point-of-Care Analyzers
3) By Software And Services: Data Management Software, Cloud-Based Solutions, Technical Support And Maintenance Services, Consultation And Training Services
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How Are Emerging Trends Reshaping The Dynamics Of The Point-Of-Care Molecular Diagnostics Market?
The escalating trend of technological innovation is becoming increasingly significant in the point-of-care molecular diagnostics market. Major players in this market are bolstering their position by introducing cutting-edge solutions. These companies are adopting advanced point-of-care molecular diagnostics technologies and related services, which include enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), mass spectrometry (MS), situ hybridizations, spectral karyotyping imaging, DNA microarrays, among others. These are implemented on POC devices with the aim of speeding up analysis times and reducing costs. An exemplar of this trend, in May 2023, the US-based diagnostics company Sensible Diagnostics launched a 10-minute point-of-care PCR system. The company leverages the expertise that Curative has amassed during the pandemic in the diagnostics sector. The company has reportedly carried out over two million molecular point-of-care COVID-19 tests and claims a 10-minute result turnaround time for its PCR platform.
Who Are the Key Players in the Point-Of-Care Molecular Diagnostics Market?
Major companies operating in the point-of-care molecular diagnostics market include:
• 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.
What Is The Most Dominant Region In The Point-Of-Care Molecular Diagnostics Market?
North America was the largest region in the point-of-care molecular diagnostics market in 2024. Asia-Pacific 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.
