Point of Care (POC) Molecular Diagnostics

Point of Care (POC) Molecular Diagnostics

Global Point of Care (POC) Molecular Diagnostics Market to Reach US$8.8 Billion by 2030

The global market for Point of Care (POC) Molecular Diagnostics estimated at US$3.7 Billion in the year 2023, is expected to reach US$8.8 Billion by 2030, growing at a CAGR of 13.1% over the analysis period 2023-2030. PCR-based POC Molecular Diagnostics, one of the segments analyzed in the report, is expected to record a 14.0% CAGR and reach US$5.7 Billion by the end of the analysis period. Growth in the Genetic Sequencing-based POC Molecular Diagnostics segment is estimated at 10.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.5 Billion While China is Forecast to Grow at 15.9% CAGR

The Point of Care (POC) Molecular Diagnostics market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.0 Billion by the year 2030 trailing a CAGR of 15.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.7% and 12.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.3% CAGR.

Global Point of Care (POC) Molecular Diagnostics Market - Key Trends and Drivers Summarized

Point of Care (POC) molecular diagnostics involves the performance of molecular diagnostic tests near the site of patient care rather than in a central laboratory. This technology enables the rapid detection of diseases through nucleic acid analysis, providing results within minutes or hours rather than days. The aim is to deliver timely information to healthcare providers, enabling immediate clinical decision-making and treatment initiation. POC molecular diagnostic devices are typically portable or handheld, designed to be easy to use with minimal training, and require fewer operational steps compared to traditional lab-based tests. This rapid and convenient form of testing is particularly valuable for managing infectious diseases, genetic conditions, and cancer, among other medical applications.

The utility of POC molecular diagnostics has become increasingly evident in healthcare settings around the world, particularly in emergency rooms, intensive care units, and remote areas where access to conventional lab facilities may be limited. In infectious disease management, such as the timely diagnosis of influenza, COVID-19, and other viral infections, POC testing can drastically reduce the spread of infections by enabling quick isolation decisions. Additionally, in settings like oncology, POC molecular diagnostics facilitate the real-time assessment of tumor markers and mutations, which can guide personalized treatment strategies directly at the point of care. The technology`s adaptability to non-hospital environments, such as pharmacies and community clinics, further extends its reach and impact, making diagnostic services accessible to a broader population.

The growth in the POC molecular diagnostics market is driven by several factors. Technological advancements that enhance the accuracy, speed, and user-friendliness of POC devices are major contributors to market expansion. The ongoing development of multiplexing capabilities, where multiple tests are conducted at the same time on the same device, also significantly boosts the utility and attractiveness of POC diagnostics. Furthermore, the increasing global burden of infectious diseases and the rising demand for rapid diagnostic methods in pandemic management highlight the critical role of POC testing. Economic factors, including cost savings associated with reduced hospital stays and less reliance on centralized laboratory facilities, encourage the adoption of POC diagnostics across various healthcare settings. Consumer behavior, particularly the growing expectation for immediate healthcare delivery and the rising awareness of personalized medicine, further propels the demand for these innovative diagnostic solutions.

Select Competitors (Total 64 Featured) -

• Bayer AG
• Danaher Corporation
• DiaSorin SpA
• Biocartis NV
• Maxim Biomedical, Inc.
• AccuBioTech Co., Ltd.
• Abacus Diagnostica Oy
• genedrive plc
• Molbio Diagnostics Pvt. Ltd.
• Mesa Biotech, Inc.
• Binx Health
• Credo Diagnostics Biomedical Pte. Ltd
• Genestat Molecular Diagnostics, LLC
• Alveo Technologies
• ADOR Diagnostics

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