Market Introduction
Point-of-care molecular diagnostics include portable devices, and assays & kits used to detect and diagnose diseases in human samples, such as throat swab, blood, serum, and stool. Molecular diagnostics are shifting from centralized laboratories to decentralized point-of-care molecular testing. Due to its simplicity, convenience, rapid turnaround time, and potential to improve patient outcomes, POCT is rapidly gaining traction.
Moreover, the growing demand for specific viral detection methods that consume less time for timely infection control is expected to bolster the market growth during the forecast period.
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In Europe, currently, the UK and Russia are the hardest-hit countries by the COVID-19 pandemic, followed by France, Spain, Italy, and Germany. The implementation of drastic measures and travel restrictions, including closing the borders, impacted the import and export of products, especially in the first half of 2020. The continuous spread of the disease has led to an elevated demand for advanced diagnostic solutions in Europe, thus boosting the adoption of point-of-care molecular diagnostic kits. Moreover, uninterrupted investments and business activities by industry players are also boosting the point-of-care molecular diagnostic market growth. In 2020, European Medicines Agency (EMA) approved ~97 medicines for the marketing authorization, of which 39 were novel drugs. In October 2020, Eurofins introduced PCR-based COVID-19 diagnostic tests with at-home, self-sampling options, in the for European market. In January 2020, European Union (EU) commission announced an emergency call, through which it awarded US$ 55.64 million to 18 research projects. Among these, 3 of the projects are receiving a total of US$ 7.39 million to develop effective, rapid point-of-care diagnostics.
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bioMรฉrieux SA
F. Hoffmann-La Roche Ltd.
Danaher Corporation
Enzo Biochem, Inc.
Abbott
binx health, Inc.
Meridian BioScience, Inc.
Biocartis
Quidel Corporation
Bio-Rad Laboratories, Inc
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ยท ย ย ย ย Segments Covered
By Product & Services
Assays and Kits
Instruments
Services and Software
By Technology
By Application
Infectious Diseases
Oncology
Hematology
Prenatal Testing
Endocrinology
Other Applications
By End User
ย Key Market Drivers:
Rising Prevalence of Infectious Diseases:
The ongoing threat of pandemics and the persistent burden of infectious diseases like influenza, tuberculosis, and HIV are major drivers. POC MDx provides rapid detection, facilitating prompt treatment and containment.
The COVID-19 pandemic significantly accelerated the adoption of POC MDx, highlighting its importance in pandemic response.
Increasing Demand for Decentralized Diagnostics:
Traditional laboratory-based diagnostics can be time-consuming, limiting access to timely care, especially in remote or resource-limited settings.
POC MDx enables testing at the patient's location, such as clinics, emergency departments, or even homes, improving accessibility and reducing turnaround times.
Technological Advancements:
Innovations in molecular diagnostic technologies, such as polymerase chain reaction (PCR), next-generation sequencing (NGS), and microfluidics, are enhancing the sensitivity, specificity, and ease of use of POC MDx devices.
The development of user-friendly, portable, and automated systems is expanding the applications of POC MDx.
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