Point of Care (POC) Molecular Diagnostics Market, By Product & Service (Instruments & Analyzers, Assays & kits, Software & Services), By Technology (RT-PCR, INAAT, Other technologies), By Application (Sexually Transmitted Diseases, Respiratory Diseases, Cancer, Hepatitis, Hospital-acquired Infections, Gastrointestinal Disorders, Other Applications), By End User (Hospitals & ICUs, Physicians’ Offices, Research Institutes, Other End Users), By Region – Global Analysis Forecast Till 2030

The Global Point of Care (POC) Molecular Diagnostics Market to witness tremendous Growth during the forecast period from 2022 to 2030

Point-of-care (POC) molecular diagnostics refers to tests that detect the presence of specific nucleic acids in clinical specimens such as stool, saliva, urine, blood, and tissue. This molecular diagnosis is based on looking at a target portion of the microbial genetic material, DNA or RNA. In the medical field, it detects emergency use rights for disease diagnosis. Point-of-care (POC) molecular diagnostics detect disease antigens or antibodies in human samples such as mononucleosis, influenza, and group A streptococci (GAS).

Point-of-care molecular diagnostics' primary products and services are assays and kits, instruments and analyzers, software, and services. Assays and kits refer to equipment used to perform assays such as disease pathway studies. Assays and kits have been widely used to quickly and accurately diagnose and monitor various diseases. Reverse transcription polymerase chain reaction (RT-PCR), in situ hybridization, and sequencing have been used for respiratory disease, hospital-acquired infection (HAI), cancer/oncology, hepatitis, and hematology. Distributed laboratories, hospitals, home care, and assisted living care facilities use point-of-care molecular diagnostics.

Market Dynamics:

Drivers:

Infectious diseases and rising incidence of acute and chronic diseases are some of the major factors propelling the market growth. For example, the increasing prevalence of cancer and HIV/AIDS directly impacts the market growth rate. According to the Department of Health & Human Services, more than XX million people were suffering from HIV AIDS in 2019.

Increased research and development proficiency spending, especially in developed and developing countries related to medical devices and devices, will further create lucrative market growth opportunities. Research and development capabilities carried out to develop emergency medical services are also bolstering the point of care (POC) molecular diagnostics market growth rate.

Restraints:

On the other hand, high costs associated with research and development capabilities, limited infrastructure facilities, and lack of awareness of backward economies are expected to hamper the market growth. Additionally, there is a lack of favorable reimbursement scenarios and technology penetration in developing countries, stringent regulatory hurdles associated with point-of-care diagnostic test kits, a lack of alignment with definitive central laboratory methods, and a lack of adequate infrastructure in low- and middle-income countries. It is expected to challenge the point of care (POC) molecular diagnostics market in the forecast period of 2022-2030.

Key players:

• Abbott Laboratories

• F. Hoffmann-La Roche Ltd.

• bioMérieux SA

• Danaher Corporation

• Quidel Corporation

• QIAGEN N.V.

• Co-Diagnostics, Inc.

• Biocartis NV

• Meridian Bioscience, Inc.

• Thermo Fisher Scientific, Inc.

• Lucira Health, Inc.

• Cue Health

• OpGen, Inc.

• Binx Health, Inc.

• Molbio Diagnostics Pct. Ltd.

• Genomadix

• Visby Medical, Inc.

• QuikPath PTE Ltd.

• MD-Bio

• QuantuMDx Group Ltd.

• Aidian Oy

• GeneSTAT Molecular Diagnostics, LLC

Market Segmentation:

Point of Care (POC) Molecular Diagnostics Market, By Product & Service

• Assays & kits

• Instruments & Analyzers

• Software & Services

Point of Care (POC) Molecular Diagnostics Market, By Technology

• RT-PCR

• INAAT

• Other technologies

Point of Care (POC) Molecular Diagnostics Market, By Application

• Respiratory Diseases

• Sexually Transmitted Diseases

• Hospital-acquired Infections

• Cancer

• Hepatitis

• Gastrointestinal Disorders

• Other Applications

Point of Care (POC) Molecular Diagnostics Market, By End User

• Physicians’ Offices

• Hospitals & ICUs

• Research Institutes

• Other End Users

Point of Care (POC) Molecular Diagnostics Market, By Region

• North America

  • US

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Rest of Europe (RoE)

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of Asia Pacific (RoAPAC)

• Rest of the World (RoW)

Regional Analysis:

Ongoing efforts by key market players to strengthen their market position are important factors contributing to their key share. In addition, many clinical studies examining the efficiency and accuracy of new molecular tests are also expected to contribute to the point of care (poc) molecular diagnostics market growth during the forecast period.

The European region has emerged as a key market space due to the growing demand for rapid diagnostics and the development of modern molecular diagnostic tests for DNA analysis.

However, Asia Pacific is expected to witness the fastest growth during the forecast period due to the lack of sophisticated central laboratory testing services, a larger population base requiring clinical testing, and the potential cost-effective implementation of PoC molecular testing.

Scope of the Report:

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