Point-Of-Care Molecular Diagnostics Global Market Analysis, Trends, Growth, Research And Forecast 2033

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..

Market Overview -
Point-of-care (POC) molecular diagnostics refers to tests that detect the presence of specific nucleic acids in a clinical specimen, such as feces, saliva, urine, blood, and tissue. This molecular diagnostic is based on seeing targeted portions of microbial genetic material, DNA or RNA. It is utilized by the healthcare sector to detect emergency usage authorization to diagnose diseases. Point-of-care (POC) molecular diagnostic is used to detection of disease antigens or antibodies in human samples, such as mononucleosis, influenza, and group A streptococcus (GAS).

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Rising Respiratory Infections Drive Demand For Point-Of-Care Molecular Diagnostics
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.

Competitive Landscape -
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.

Next-Generation Poc Molecular Diagnostics Technologies Revolutionize Healthcare Industry
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.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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