Molecular Diagnostics Point of Care Market Top Companies Study - Abbott Laboratories, Bayer Healthcare, Roche Diagnostics, Bio-Rad Laboratories.

"Molecular Diagnostics Point of Care Market" in terms of revenue was estimated to be worth $2.95 billion in 2023 and is poised to reach $6.42 billion by 2031, growing at a CAGR of 10.38% from 2024 to 2031 according to a new report by InsightAce Analytic.

Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/1423

Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Molecular Diagnostics Point of Care market are:
• Rising Prevalence of Infectious Diseases
• Investments in Healthcare Facilities
• Integration with Digital Health Solutions

The following are the primary obstacles to the Molecular Diagnostics Point of Care market's expansion:
• Cost Constraints
• Limited Imbursement Policies
• Infrastructure and Connectivity Issues

Future expansion opportunities for the global Molecular Diagnostics Point of Care market include:
• Market Penetration in Emerging Markets
• Regulatory Compliance
• Point-of-Care Testing in Clinical Trials

Market Analysis:
The increasing prevalence of infectious diseases and chronic conditions, such as cancer, is expected to drive market growth. This rise in disease incidence has generated greater demand for innovative diagnostic methods, which in turn has accelerated advancements in technology and pharmacogenomics. Additionally, while technological progress and the growing demand for personalized medicine present significant growth opportunities, market expansion may be tempered by cost limitations and regulatory challenges.

List of Prominent Players in the Molecular Diagnostics Point of Care Market:
• Abbott Laboratories
• Bayer Healthcare
• Roche Diagnostics
• OraSure Technologies Inc.
• Nipro Diagnostics
• Bio-Rad Laboratories
• Danaher Corporation
• BioMerieux, Dako
• Abaxis Inc.

Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2025-03

Recent Developments:
• In February 2022, Sense Biodetection entered into a strategic agreement with Una Health (Una) for the United Kingdom distribution of the Veros Covid-19 test.
• In December 2021, FIND invested USD 21 million in Biomeme, Bioneer, Qlife, and SD Biosensor to accelerate the development, manufacturing, and launch of affordable point-of-care molecular diagnostic platforms that can detect multiple pathogens that cause diseases including COVID-19.
• In Oct 2018, QIAGEN negotiated with STAT-Dx to enhance its portfolio in testing solutions for next-gen PCR systems.

Market Dynamics:
Market Drivers: The increasing incidence of infectious diseases worldwide, including COVID-19, influenza, HIV/AIDS, tuberculosis, and sexually transmitted infections, is driving demand for rapid and accurate diagnostic tests at the point of care. Molecular point-of-care (POC) tests provide quick results, enabling timely treatment and improved outbreak management. Additionally, the rising prevalence of infectious diseases and cancer across both developed and developing regions is expected to support the expansion of the molecular POC diagnostics market. Moreover, the growing focus on preventive healthcare is anticipated to further increase the demand for point-of-care molecular diagnostics throughout the forecast period.

Challenges: Limited reimbursement coverage for molecular POC tests by public and private payers may restrict market growth. Current reimbursement policies often fail to adequately reflect the clinical and economic benefits of POC testing, such as improved patient outcomes and reduced healthcare costs, thereby discouraging healthcare providers from adopting these technologies. A significant challenge for diagnostic companies lies in securing reimbursement from Medicare and private health insurers for their tests. In 2018, Medicare revised its reimbursement framework for certain in vitro diagnostic (IVD) tests, including point-of-care molecular tests. Furthermore, according to the American Society of Clinical Oncology, Medicare currently does not cover genetic testing for individuals without a personal history of cancer. These reimbursement limitations are expected to negatively affect the adoption of molecular POC testing.

Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/1423

North America Is Expected To Grow With the Highest CAGR during the Forecast Period
The North American molecular diagnostics point-of-care (POC) market is projected to capture a substantial share of revenue and demonstrate a strong compound annual growth rate (CAGR) over the forecast period. This growth is driven by the rising prevalence of infectious diseases, increasing approvals of Clinical Laboratory Improvement Amendments (CLIA) products, and the implementation of supportive legislative measures. The strategic efforts of key market participants to reinforce their market presence are also expected to be a major contributing factor. Additionally, the growing number of clinical trials focused on enhancing the accuracy and diversity of molecular tests will further support market expansion. The region is anticipated to maintain its growth momentum, driven by increasing demand for rapid and accurate diagnostic solutions, technological advancements, evolving healthcare delivery models, and favorable regulatory initiatives.

Segmentation of Molecular Diagnostics Point of Care Market-
By Test Location-
• Over-the-counter (OTC)
• Point of Care (POC)
By Technology-
• PCR Based
• Genetic Sequencing Based
• Hybridization-Based
• Microarray-Based
• Nucleic Acid Amplification Testing (NAAT)
By Applications-
• Infectious Disease Testing
• Oncology
• Hematology
• Prenatal Testing
• Endocrinology
• Others
By End Users-
• Decentralized Labs
• Hospitals & Clinics
• Home Care Settings
• Assisted Living Healthcare Facilities
• Emergency Medical Services (EMS)
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com

This release was published on openPR.