Point of Care Molecular Diagnostics Market Report and Forecast 2024-2032
IMARC Group’s report titled “Point of Care Molecular Diagnostics Market Report by Product and Service (Assays and Kits, Instruments and Analyzers, Software and Services), Technology (Polymerase Chain Reaction (PCR), Hybridization, DNA sequencing, Microarray, Isothermal Nucleic Acid Amplification Technology (INAAT), and Others), Application (Infectious Diseases, Oncology, Hematology, Prenatal Testing, Endocrinology, and Others), End User (Physicians’ Offices, Hospitals and ICUs, Research Institutes, and Others), and Region 2024-2032”. The global point of care molecular diagnostics market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.2% during 2024-2032.
Grab a sample PDF of this report: https://www.imarcgroup.com/point-of-care-molecular-diagnostics-market/requestsample
Factors Affecting the Growth of the Point of Care Molecular Diagnostics Industry:
Increasing Prevalence of Infectious Diseases:
The rising incidence of infectious diseases globally is driving the need for point of care (POC) diagnostic services. Infectious diseases like influenza and tuberculosis require rapid diagnosis for timely treatment, which is catalyzing the demand for POC testing. Unlike traditional laboratory methods, POC molecular diagnostics provide results quickly, often within an hour, allowing for immediate clinical decisions. This speed is crucial in controlling outbreaks and improving patient outcomes. Additionally, the ability to conduct tests at or near the site of patient care reduces the need for specialized laboratory infrastructure, making it easier to manage infectious diseases in remote or resource-limited settings. As a result, healthcare providers are increasingly adopting POC molecular diagnostics as part of their diagnostic strategies.
Technological Advancements and Miniaturization:
Ongoing advancements, particularly in the miniaturization of molecular diagnostic devices, are propelling the growth of the market. Innovations in microfluidics, lab-on-a-chip technologies, and portable Polymerase Chain Reaction (PCR) devices are enabling the development of compact and user-friendly POC diagnostic tools. These devices can perform complex molecular tests with high accuracy and sensitivity, rivaling traditional laboratory equipment. The ease of use and portability of these devices allow for decentralized testing, where diagnostics can be conducted at the bedside of the patient, in clinics, or even in non-medical settings. This technological progress is expanding the application of molecular diagnostics beyond specialized labs, making it more accessible and practical for widespread use.
Growing Demand for Personalized Medicine:
The increasing emphasis on personalized medicine is supporting the market growth. Personalized medicine tailors treatment plans based on the genetic makeup and specific characteristics of the disease, requiring precise and rapid diagnostic tools. POC molecular diagnostics provide the ability to quickly identify genetic markers, pathogens, and mutations that inform personalized treatment strategies. For instance, in oncology, POC molecular tests can detect specific cancer mutations, enabling oncologists to choose the most effective targeted therapies. This tailored approach not only improves treatment efficacy but also lowers the risk of adverse complications, leading to better patient outcomes. The growing focus on personalized healthcare, combined with the need for timely and accurate diagnostics, is driving the demand for POC molecular diagnostics.
Leading Companies Operating in the Global Point of Care Molecular Diagnostics Industry:
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.
Point of Care Molecular Diagnostics Market Report Segmentation:
By Product and Services:
Assays and Kits
Instruments and Analyzers
Software and Services
Assays and kits exhibit a clear dominance in the market due to their essential role in facilitating rapid, accurate, and easy-to-use testing in POC settings.
By Technology:
Polymerase Chain Reaction (PCR)
Hybridization
DNA sequencing
Microarray
Isothermal Nucleic Acid Amplification Technology (INAAT)
Others
Polymerase chain reaction (PCR) represents the largest segment because of its high sensitivity, specificity, and widespread use in detecting a broad range of pathogens in POC diagnostics.
By Application:
Infectious Diseases
Oncology
Hematology
Prenatal Testing
Endocrinology
Others
Infectious diseases hold the biggest market share as POC molecular diagnostics are crucial for the timely detection and management of these diseases, particularly in outbreak scenarios.
By End User:
Physicians’ Offices
Hospitals and ICUs
Research Institutes
Others
On the basis of the end user, the market has been segregated into physicians’ offices, hospitals and ICUs, research institutes, and others.
Regional Insights:
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
North America dominates the market attributed to its advanced healthcare infrastructure, high adoption rates of new technologies, and strong presence of key industry players.
Global Point of Care Molecular Diagnostics Market Trends:
The shift toward decentralized healthcare, where care is delivered closer to the home of the patients or in community settings, is significantly driving the demand for POC molecular diagnostics. Decentralized healthcare aims to reduce the burden on centralized hospital laboratories by enabling rapid testing in primary care clinics, pharmacies, and even at-home settings. This model of care is particularly important in rural or remote locations, where access to centralized healthcare facilities is limited. POC molecular diagnostics allow for immediate diagnosis and treatment, minimizing the need for patients to travel long distances for testing. This convenience and accessibility are increasingly valued by both healthcare providers and patients, leading to the broader adoption of POC technologies. As healthcare systems are transitioning towards more patient-centered models, the demand for effective and reliable POC diagnostics is rising.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163