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The point-of-care molecular diagnostics market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of almost 12%, as per The Business Research Company’s market report!

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The Point-Of-Care Molecular Diagnostics Market Size In 2022 And Forecast

The global point-of-care molecular diagnostics market is expected to grow from $2.50 billion in 2021 to $2.78 billion in 2022 at a compound annual growth rate (CAGR) of 11.18%. The global point-of-care molecular diagnostics market size is expected to reach $4.32 billion in 2026 at a compound annual growth rate (CAGR) of 11.59%.

The point-of-care (POC) molecular diagnostics market consists of sales of point-of-care (POC) molecular diagnostics products and equipment by entities (organizations, sole traders, and partnerships) that are used for the detection of disease antigens or antibodies in human samples, such as mononucleosis, influenza, and group A streptococcus (GAS).

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The Rapid Growth In The Incidence Of Infectious And Respiratory Diseases Is Driving The Growth Of The Point-Of-Care Molecular Diagnostics Market

For instance, in May 2020, an annual report on MCCD (Medical Certification of Cause of Death) 2020 shows that respiratory system diseases are the second most common cause of death, accounting for 10% of the total medically certified causes of death (88.7%). Furthermore, between 2019 and 2020, the number of deaths caused by respiratory disorders increased from 152,311 to 181,160. Therefore, the rapid occurrence of infectious and respiratory diseases and deaths will drive the point-of-care molecular diagnostics market.

Competitive Landscape And The Regional Analysis Of The Point-Of-Care Molecular Diagnostics Market

Major players in the point-of-care molecular diagnostics market are Abbott Laboratories, F. Hoffmann-La Roche Ltd, BioMérieux SA, Danaher Corporation, Quidel Corporation, Qiagen Gmbh, Biocartis NV, Nova Biomedical, Thermo Fisher Scientific, Dickinson and Company, Mesa Biotech Inc, OraSure Technologies Inc, Bio-Rad Laboratories Inc, Sysmex, Siemens Healthineers, Bayer HealthCare Pharmaceuticals LLC, Alere Inc, Lucira Health Inc, Cue Health Inc, OpGen Inc, Binx Health Inc, Molbio Diagnostics Pct Ltd, Genomadix, Visby Medical, QuikPath PTE Ltd, QuantuMDx Group Ltd, and Sekisui Medical Co., Ltd.

Additionally, as per TBRC’s research – North America was the largest region in the point-of-care molecular diagnostics market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Point-Of-Care Molecular Diagnostics Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the point-of-care molecular diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the point-of-care molecular diagnostics market.

Technological Advancement – A Key Trend 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.

Point-Of-Care Molecular Diagnostics Market Segmentation By The Business Research Company

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

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