Molecular Point-of-care Diagnostics Market to Record Sturdy Growth by 2025

Point-of-care diagnosis involves medical tests performed at or near a patient’s location. These tests can be performed outside a clinical laboratory, and primarily include diagnosis done at physician’s office, in an ambulance, or on-field diagnosis. Molecular diagnosis involves analysis of biological markers and has wide applications in disease monitoring and testing, risk analysis, cancer diagnosis, and others. These tests were designed as physicians needed quick analysis of samples to diagnose diseases and avoid complications. Traditional microbial testing methods were non-specific, lengthy, and time consuming procedures. Molecular diagnostics have armed doctors with highly specific, quick, and accurate diagnosis methods. Presently, point-of-care testing has become an integral part of the diagnostics market, and widely used in emergency rooms, community health centers, school health programs, and home testing.

Based on application, the global Molecular Point-Of-Care Diagnostics Market can be segmented into infectious disease, oncology, autoimmune disease, hematology, and others. In terms of test location, the market can be categorized into point-of-care tests and over-the-counter tests. The global molecular point-of-care diagnostics market is driven by quick and accurate results, and ability to carry out tests without laboratory set-up. The market is also driven by consistent rise in emergency medical cases. The trend is also shifting from hospital testing to point-of-care testing, where patients can be diagnosed in shortest possible time, and also reduce hospital stay. Increase in awareness about diseases and available diagnosis and treatment methods has given rise to the concept of ‘preventive health care’, with patients being actively involved in disease diagnosis. In 2007, Clinical Laboratory Improvement Amendments (CLIA) waiver policies were modified stating that FDA approved tests for home use also qualify for CLIA waiver.

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This boosted the growth of the home diagnostics market which is dominated by immunochromatography based cassette kits. These trends coupled with advances in the biotechnology sector are likely to propel the molecular point-of-care diagnostics market. Growing burden of diabetes and infectious diseases such as tuberculosis, dengue, malaria, flu, and many other diseases have demanded better diagnosis services in short span of time such as molecular point-of-care diagnosis. Cases of drug abuse are also on the rise in the countries in the West. According to a survey conducted by the European Monitoring Centre for Drugs and Drug Addiction, Britain has the largest number of drug addicts in Europe. The survey also details that cannabis abuse is highest and cocaine abuse is rising rapidly. These incidences also support market growth.

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Geographically, the global molecular point-of-care diagnostics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Majority of the molecular point-of-care diagnostics market is concentrated in North America and Europe owing to increase in demand for near patient testing and diagnosis of disease at molecular level. Asia Pacific is an emerging market and is expected to grow at a rapid pace during the forecast period due to increase in per capita income, vast population base, developing medical sector, and rise in trend for medical tourism. High cost of molecular point-of-care diagnostics and lack of awareness hamper the growth of the market in regions such as Latin America and Middle East & Africa.

Key players operating in the global molecular point-of-care diagnostics market include Abbott, F. Hoffmann-La Roche Ltd., bioMerieux, Danaher, DiaSorin, Sysmex, and Siemens Healthineers.

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