The point-of-care molecular diagnostics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Point-Of-Care Molecular Diagnostics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
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Scope Of Point-Of-Care Molecular Diagnostics Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Point-Of-Care Molecular Diagnostics Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
North America was the largest region in the point-of-care molecular diagnostics market in 2023. 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.
Key Companies –
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.
Table of Contents
- Executive Summary
- Point-Of-Care Molecular Diagnostics Market Report Structure
- Point-Of-Care Molecular Diagnostics Market Trends And Strategies
- Point-Of-Care Molecular Diagnostics Market – Macro Economic Scenario
- Point-Of-Care Molecular Diagnostics Market Size And Growth
…..
- Point-Of-Care Molecular Diagnostics Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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