Rising Respiratory Infections Drive Demand For Point-Of-Care Molecular Diagnostics: Strengthening the Growth Trajectory of the Point-Of-Care Molecular Diagnostics Market

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What Is the Expected CAGR for the Point-Of-Care Molecular Diagnostics Market Through 2025?_x000D_
In recent times, the market size of point-of-care molecular diagnostics has witnessed substantial growth. The expected expansion is from $3.55 billion in 2024 to $4.01 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. The growth during the historical period can be credited to factors such as the escalating demand for quick disease diagnosis, increase in infectious disease epidemics, proliferation of telemedicine and remote testing, regulatory backing for point-of-care diagnostics, along with the necessity for personalized and precision medicine._x000D_
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What's the Projected Size of the Global Point-Of-Care Molecular Diagnostics Market by 2029?_x000D_
The market size for point-of-care molecular diagnostics is projected to experience substantial expansion in the approaching years, escalating to a value of $7.02 billion by 2029, with a compound annual growth rate (CAGR) of 15.0%. This projected increase during the forecast period can be ascribed to the miniaturization of diagnostic tools, the proliferation of point-of-care testing for cancer and genetic disorders, personalized molecular diagnostics for various uses, the incorporation of artificial intelligence and machine learning for data interpretation, and the monitoring of emerging infectious diseases. Significant trends expected during the forecast period encompass lab-on-a-chip and microfluidic technologies, digital health, and smartphone-centric diagnostics, point-of-care readiness for COVID-19 and other pandemics, AI-empowered predictive diagnostics, and CRISPR-centered molecular testing._x000D_
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Top Growth Drivers in the Point-Of-Care Molecular Diagnostics Industry: What's Accelerating the Market?_x000D_
The spike in infectious and respiratory diseases is likely to substantially fuel the expansion of the point-of-care molecular diagnostics market. Respiratory infections, including those caused by viruses or bacteria, result from microorganisms that affect the respiratory system. These microorganisms can spread through various activities like coughing, sneezing, or even touching. The range of treatments for these severe respiratory conditions includes inhalers, oral medicine, intravenous therapy, and point-of-care molecular diagnosis to aid the patient's recovery. As reported by the Office for National Statistics, a well-known statistical institution in the UK, the infection rate in England saw a surge among individuals aged between 35 and 69 years and also among those in school years 12 to 24 by the week ending December 9, 2022. Hence, the quick spread of these infectious and respiratory diseases and subsequent mortality will propel the point-of-care molecular diagnostics market._x000D_
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What Trends Will Shape the Point-Of-Care Molecular Diagnostics Market Through 2029 and Beyond?_x000D_
The rise of technology is becoming a prominent trend within the point-of-care molecular diagnostics market. Businesses dominating this sector are keen on developing tech-savvy solutions to solidify their market standing. These same companies are adopting state-of-the-art point-of-care molecular diagnostics methodologies and associated services, such as enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), mass spectrometry (MS), situ hybridizations, spectral karyotyping imaging, DNA microarrays, and others so they can be used on POC devices with features that speed up analysis times and reduce costs. Sensible Diagnostics, a diagnostics company based in the US, unveiled a ten-minute point-of-care PCR system in May 2023, capitalizing on the experience gained by Curative in its diagnostics business during the pandemic. According to the company, it has processed over two million molecular point-of-care COVID-19 tests and its PCR system delivers results in just ten minutes._x000D_
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What Are the Main Segments in the Point-Of-Care Molecular Diagnostics Market?_x000D_
The point-of-care molecular diagnostics market covered in this report is segmented -_x000D_
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1) By Product And Service: Assays And Kits, Instruments And Analyzers, Software And Services_x000D_
2) By Technology: Reverse Transcription - Polymerase Chain Reaction (RT-PCR), In Situ Hybridization, Sequencing_x000D_
3) By Application: Respiratory Diseases, Hospital Acquired Infections (HAIs), Cancer/Oncology, Hepatitis, Hematology_x000D_
4) By End-User: Decentralized Labs, Hospitals, Home Care, Assisted Living Healthcare Facilities_x000D_
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Subsegments:_x000D_
1) By Assays And Kits: Nucleic Acid Amplification Tests (NAATs), Rapid Diagnostic Tests, Molecular Detection Kits, Reagents And Consumables_x000D_
2) By Instruments And Analyzers: PCR Machines, Microfluidic Devices, Sequencers, Point-of-Care Analyzers_x000D_
3) By Software And Services: Data Management Software, Cloud-Based Solutions, Technical Support And Maintenance Services, Consultation And Training Services_x000D_
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Which Top Companies are Driving Growth in the Point-Of-Care Molecular Diagnostics Market?_x000D_
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._x000D_
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Which Regions Will Dominate the Point-Of-Care Molecular Diagnostics Market Through 2029?_x000D_
North America was the largest region in the point-of-care molecular diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point-of-care molecular diagnostics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa._x000D_
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