According to the latest report by IMARC Group, titled “Point of Care Molecular Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global point of care molecular diagnostics market size reached US$ 3.3 Billion in 2022. Point of care (POC) molecular diagnostics is an approach in medical testing and diagnostics. It comprises a range of innovative techniques and technologies that are designed to provide rapid and accurate analysis of biological samples, such as blood, urine, or tissue, at the bedside of the patient or within proximity to the healthcare provider. It offers real-time and on-site testing that enables enhanced decision-making in clinical settings. It assists in detecting specific genetic material, such as deoxyribonucleic acid (DNA) or ribonucleic acid (RNA), within patient samples. As it allows for the identification of pathogens, genetic mutations, or disease markers at an early stage, the demand for POC molecular diagnostics is rising worldwide.
Global Point of Care Molecular Diagnostics Market Trends:
At present, the increasing need for rapid and precise medical information to enhance patient care outcomes represents one of the primary factors contributing to the growth of the market. Besides this, the rising demand for POC molecular diagnostics, as it offers high accuracy, is strengthening the market growth. Moreover, the increasing development of user-friendly and portable devices and assays for enhanced convenience is bolstering the growth of the market. Apart from this, the rising focus on personalized medicine is propelling the growth of the market. Looking forward, the market value is projected to reach US$ 6.2 Billion by 2028, expanding at a CAGR of 10.59% during 2023-2028.
- Based on the product and service, the market has been segmented into assays and kits, instruments and analyzers, and software and services. At present, assays and kits dominate the market, accounting for the largest share.
- On the basis of the technology, the market has been divided into polymerase chain reaction (PCR), hybridization, DNA sequencing, microarray, isothermal nucleic acid amplification technology (INAAT), and others. Presently, polymerase chain reaction (PCR) represents the biggest market share.
- Based on the application, the market has been classified into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and others. Infectious diseases currently hold the largest market share.
- On the basis of end-user, the market has been segregated into physicians’ offices, hospitals and ICUs, research institutes, and others.
- Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being 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.
|Base Year of the Analysis
||Product and Service, Technology, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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