Market Overview:
The global point of care molecular diagnostics market size reached USD 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 8.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.2% during 2024-2032. The increasing incidence of infectious diseases paired with rapid development in healthcare facilities is significantly driving the market growth.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
USD 3.7 Billion |
Market Forecast in 2032
|
USD 8.4 Billion |
Market Growth Rate 2024-2032 |
9.2% |
Point-of-care (POC) molecular diagnostics refer to tests performed by physicians to diagnose and detect infectious diseases. It includes hematology, pregnancy, fertility, infectious diseases, urinalysis testing kits, and cardiometabolic and glucose monitoring devices. POC molecular diagnostics is widely used for identifying infectious agents, minimal residual disease, and gastrointestinal disorders, monitoring hemoglobin and fecal occult blood, and determining a patient's ability to metabolize a drug or drug class. These tests offer faster results, reduce complications associated with mistreatment, and improve infection control measures. As a result, POC molecular diagnostics finds extensive applications in hospitals, intensive care units (ICUs), research institutes, clinics, decentralized laboratories, and homecare facilities.
Point of Care Molecular Diagnostics Market Trends:
Increased Focus on Infectious Disease Diagnostics
The increasing prevalence of infectious diseases across the globe is creating a positive outlook for the market. The COVID-19 pandemic highlighted the importance of rapid testing for public health surveillance and outbreak management. POC molecular diagnostic test is a cost-effective solution widely used to manage infectious diseases, such as flu, tuberculosis, human immunodeficiency virus (HIV) infection, chlamydia, and hepatitis. It effectively supports in the early detection and containment of emerging infectious diseases, preventing their spread.
Product Enhancements
The adoption of miniaturization, nanotechnology, and microfluidics to develop low-cost, user-friendly, and highly sensitive molecular diagnostic tests is providing an impetus to the market growth. Moreover, the implementation of various government initiatives toward improving healthcare infrastructure and enhancing molecular diagnostic capabilities is positively influencing the market growth. Other factors, including rapid advancements in deoxyribonucleic acid (DNA) sequencing, rising awareness regarding advanced therapeutic and diagnostic tests, increasing geriatric population, and recent developments in cloud-connected POC diagnostic technologies, are anticipated to drive market growth.
Integration of Digital Technologies
Connecting point-of-care devices to the Internet of Things (IoT) enables real-time data collection, remote monitoring, and enhanced data management. Further, the integration of artificial intelligence technology to analyze test results, assist in diagnosis, and provide personalized treatment recommendations is creating new growth opportunities for the key market participants. In addition, the adoption of cloud-based platforms for facilitating data storage, sharing, and analysis, enabling collaboration between healthcare providers and researchers, is transforming the point of care molecular diagnostics market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global point of care molecular diagnostics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product and service, technology, application and end user.
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
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global point of care molecular diagnostics market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
- 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.
- Visby Medical Inc.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Point of Care Molecular Diagnostics Market Recent Developments:
- July 2024: Roche announced the acquisition of LumiraDx’s Point of Care technology for expanding access to diagnostic tests in primary care.
- July 2024: Co-Diagnostics, Inc. announced that it will be hosting and presenting at the Association for Diagnostics & Laboratory Medicine (ADLM) annual meeting and expo in August 2024. It planned to exhibit the role of its new point-of-care and at-home Co-Dx PCR platform in limiting the global diagnostics gap for a diverse range of potential indications, including tuberculosis.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
Billion USD |
Segment Coverage |
Product and Service, Technology, Application, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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., Visby Medical Inc. |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |