Point of Care Molecular Diagnostics Market Drivers and Opportunities 2023-2028

The latest research study by IMARC Group, “Point of Care Molecular Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on global point of care molecular diagnostics market drivers.  The market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.2 Billion by 2028, exhibiting a growth rate (CAGR) of 10.59% during 2023-2028.

Point-of-care (POC) molecular diagnostics are tests conducted by physicians to diagnose and detect infectious diseases. It comprises pregnancy, fertility, hematology, and urinalysis testing kits, and glucose monitoring devices to diagnose infectious diseases, including mycobacterium tuberculosis (TB), immunodeficiency virus (HIV), human papillomavirus (HPV), dengue, and malaria. It is also used to identify contagious agents, minimal residual disease, and gastrointestinal disorders, monitor hemoglobin and fecal occult blood and determine a patient’s ability to metabolize a drug or drug class. In addition, these tests are fast, reliable, minimize complications, and enhance infection control measures. As a result, POC molecular diagnostics are widely adopted in research institutes, clinics, decentralized laboratories, homecare facilities, hospitals, and intensive care units (ICUs).

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Point of Care Molecular Diagnostics Market Trends and Drivers: 

The market is primarily driven by the increasing prevalence of infectious diseases across the globe. In addition, the surging need for accurate, high-quality, quick test results is contributing to market growth. POC molecular diagnostic tests are a cost-effective solution to manage infectious diseases, such as tuberculosis, human immunodeficiency virus (HIV) infection, flu, chlamydia, and hepatitis. Besides this, the escalating demand for PCR test kits to effectively manage and control the spread of coronavirus disease (COVID-19) represent another significant growth-inducing factor. Along with this, the widespread adoption of nanotechnology, miniaturization, and microfluidics to develop low-cost, user-friendly, and highly sensitive molecular diagnostic tests is providing a positive thrust to market growth. Furthermore, governments of numerous countries are taking initiatives to improve healthcare infrastructure and enhance molecular diagnostic capabilities, which is also creating a positive market outlook. In addition, other factors, including extensive investment in research and development (R&D) activities, and rapid advancements in deoxyribonucleic acid (DNA) sequencing, are anticipated to propel the market growth in the coming years.

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Point of Care Molecular Diagnostics Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Abbott Laboratories, Becton Dickinson and Company, Binx Health Inc., Co-Diagnostics Inc., F. Hoffmann-La Roche Ltd, Gene STAT Molecular Diagnostics LLC, Hemocue AB (Danaher Corporation), Meridian Bioscience Inc., Molbio Diagnostics Private Limited, Quidel Corporation, Siemens Healthcare GmbH (Siemens AG), Thermo Fisher Scientific Inc. and Visby Medical Inc.

The report has been segmented the market into following categories:

Breakup by Product and Service:

• Assays and Kits
• Instruments and Analyzers
• Software and Services

Breakup by Technology:

• Polymerase Chain Reaction (PCR)
• Hybridization
• DNA sequencing
• Microarray
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• Others

Breakup by Application:

• Infectious Diseases
• Oncology
• Hematology
• Prenatal Testing
• Endocrinology
• Others

Breakup by End User:

• Physicians’ Offices
• Hospitals and ICUs
• Research Institutes
• Others

By Geography:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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