Point-of-Care Molecular Diagnostics Market Technology Overview & Application Scope

San Francisco, Calif., USA, July 21, 2022 — /EPR Network/ —

Point-of-Care Molecular Diagnostics Industry Overview

The global point-of-care molecular diagnostics market size is anticipated to reach USD 3.86 billion by 2024 expanding at a CAGR of 14.4%, according to a new report by Grand View Research, Inc. Ongoing research & development to miniaturize molecular diagnostics testing that provides enhanced near patient testing with high accuracy and lesser turnaround times are major factors expected to reinforce the high growth potential for POC MDx products.

Growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period. Ongoing research and development is continually supported and funded by a number of major international entities including the governments of developed countries.

Point-of-Care Molecular Diagnostics Market Segmentation

Grand View Research has segmented the global PoC molecular diagnostics market on the basis of application, technology, test location, end use, and region:

Based on the Application Insights, the market is segmented into Infectious Diseases, Oncology, Hematology, Prenatal Testing, Endocrinology and Other Application.

• PoC testing in molecular diagnostics has numerous applications including near patient testing in infectious disease management, oncology, hematology, prenatal testing, and endocrinology. Most significant developments on an application basis have taken place in the fields of infectious diseases and oncology PoC molecular tests.
• Infectious diseases segment accounted for the largest revenue share in 2018. Some of the factors contributing to the revenue share of infectious diseases for rapid molecular diagnostic tests are, they provide and facilitate suitable antimicrobial treatment, faster disease management, improved distribution of healthcare laboratory assets and reduce mortality and costs.

Based on Technology Insights, the market is segmented into PCR-based, Genetic Sequencing-based, Hybridization-based and Microarray-based.

• PCR-based tests accounted for the largest revenue share in 2018. Commercialization of PoC tests that provide rapid real time PCR analysis with a high level of accuracy for infectious diseases, such as H1N1 and influenza, will drive the market.
• Innovative changes of the platforms that enable genetic sequencing and analysis of DNA data at the point of care with high accuracy and provide rapid diagnosis are attributive towards anticipated progress of this segment.

Based on the End-Use Insights, the market is segmented into Decentralized Labs, Hospitals, Homecare, Assisted Living Healthcare Facilities and Other Uses.

• Decentralized laboratories accounted for the largest revenue share in 2018.
• Ability of these tests to provide rapid and accurate molecular analysis while having a significantly smaller physical footprint as compared to the central laboratory-based counterparts is a major factor that supports the segment’s larger revenue share.

Based on the Test-Location Insights, the market is segmented into Over-the-Counter (OTC) and POC.

• OTC tests have higher levels flexibility and portability than POC tests when it comes to usage at homes and assisted living facilities. Majority of the OTC users constitute non-skilled personnel and, in most cases, the patients themselves.
• Anumber of these testing devices are CLIA waived, which encourages the users to use these tests in non-laboratory settings. Owing to their ease of usage, easy availability, and greater adoption rate, OTC tests are expected to generate higher revenue over the forecast period.

Point-of-Care Molecular Diagnostics Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Owing to ongoing developments and commercialization of novel miniaturized molecular diagnostic tests by relatively smaller market entities, the market is also witnessing a phase of consolidation, amalgamation, and acquisitions wherein, larger market participants are trying to strengthen their market positions.

Some prominent players in the Global Point-of-Care Molecular Diagnostics market include:

• Abbott Laboratories
• Bayer Healthcare
• Hoffmann-La Roche AG
• Becton
• Dickinson and Company
• BioMerieux
• Bio-Rad Laboratories, Inc.
• Cepheid, Inc.
• Danaher Corporation
• Johnson and Johnson

Order a free sample PDF of the Point-of-Care Molecular Diagnostics Market Intelligence Study, published by Grand View Research.