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Global Point of Care Molecular Diagnostics Market – Industry Trends and Forecast to 2029

Healthcare

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Global Point of Care Molecular Diagnostics Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Point of Care Molecular Diagnostics Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 3,046.35 Million
Diagram Market Size (Forecast Year) USD 8,330.75 Million
Diagram CAGR %

Major Markets Players

  • Abbott
  • Siemens Healthineers AG
  • Quidel Corporation
  • F. Hoffman-La Roche Ltd.
  • Danaher

Global Point of Care Molecular Diagnostics Market, By Product and Services (Assays and Kits, Instruments/Analyzers, Software and Services),  Technology (Polymerase Chain Reaction-Based, Genetic Sequencing-Based, Hybridization-Based, Microarray-Based, Isothermal Nucleic Acid Amplification Technology (INAAT), Others), Test Location (Over The Counter, Point of Care), Application (Respiratory Diseases, Sexually Transmitted Diseases, Hospital-Acquired Infections, Oncology, Hepatitis, Hematology, Prenatal Testing, Endocrinology, Others), End User (Physician Offices, Hospital Emergency Departments and Intensive Care Units, Research Institutes, Home-Care, Decentralized Labs, Assisted Living Healthcare Facilities, Others) – Industry Trends and Forecast to 2029.

Point of Care Molecular Diagnostics Market

Global Point of Care Molecular Diagnostics Market Analysis and Size

Increased focus of the researchers and scientists on the application of a wide array of tests to detect specific sequences in DNA or RNA has led to the wide scale application of point of care molecular diagnostics. These point of care molecular diagnostics tests help in diagnosing the changes in a gene or chromosome that may cause or affect the chance of developing a specific disease. Any change in such case can lead to disorders and diseases such as cancer.                                        

  • Data Bridge Market Research analyses that the point of care molecular diagnostics market is expected to undergo a CAGR of 13.40% during the forecast period. This indicates that the market value, which was USD 3,046.35 million in 2021, would rocket up to USD 8,330.753 million by 2029. “Oncology” dominates the product type segment of the point of care molecular diagnostics market owing to increasing incidences of cancer worldwide. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product and Services (Assays and Kits, Instruments/Analyzers, Software and Services),  Technology (Polymerase Chain Reaction-Based, Genetic Sequencing-Based, Hybridization-Based, Microarray-Based, Isothermal Nucleic Acid Amplification Technology (INAAT), Others), Test Location (Over The Counter, Point of Care), Application (Respiratory Diseases, Sexually Transmitted Diseases, Hospital-Acquired Infections, Oncology, Hepatitis, Hematology, Prenatal Testing, Endocrinology, Others), End User (Physician Offices, Hospital Emergency Departments and Intensive Care Units, Research Institutes, Home-Care, Decentralized Labs, Assisted Living Healthcare Facilities, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Abbott (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher. (US), BD (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland), Instrumentation Laboratory (US), Nova Biomedical (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Thermo Fisher Scientific (US), bioMérieux S.A. (France),  DiaSorin S.p.A (Italy), AccuBioTech Co., Ltd. (China), Meridian Bioscience (US), Biocartis Bioscience (Europe), GeneSTAT Molecular Diagnostics, LLC (US), Terumo Corporation (Japan) and Grifols, S.A (Spain)

Market Opportunities

  • Growth in the nuclear medicine market
  • Increasing incidence and prevalence of chronic and acute infections
  • Rising research and development opportunities

Global Point of Care Molecular Diagnostics Market Definition

Point of care molecular diagnostics are the diagnostic tests that are conducted to diagnose and detect infectious diseases in patients these are fast, reliable and offer a greater degree of reach. Owing to their faster results, the point of care molecular diagnostics help to suggest the correct treatment options available for the patients.              

Point of Care Molecular Diagnostics Market Dynamics

Drivers

  • Rising prevalence of infections

Growing incidence rate of infectious diseases and acute and chronic disorders is one of the major factors fostering the growth of the market. For example- increasing prevalence of cancer and HIV aids is directly influencing the market growth rate. In 2019, according to the Department of Health & Human Services, more than 38 million people were suffering from HIV aids.  

  • Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the development of emergency healthcare services is also bolstering the market growth rate.

  • Growing investment for healthcare facilities

Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, rising conferences and exhibitions to raise awareness of robotic systems in pharmaceutical manufacturing, rising number of road accidents and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, increased demand for collaborative robots in manufacturing facilities, rising internet penetration rate, rising need for home healthcare services and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges Global Point of Care Molecular Diagnostics Market

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, stringent regulatory hurdles pertaining to the point of care diagnostic test kits, lack of alignment with definitive central lab methods and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

This point of care molecular diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the point of care molecular diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Point of Care Molecular Diagnostics Market

COVID-19 has stimulated the market growth rate in the upward direction. Increasing number of patients and booming hospitalization rate owing to the spread of virus is one of the biggest factors responsible for pushing up the market growth rate. Growing focus of the healthcare institutions to provide the best of facilities to the patients ensured a good run of the market in this pandemic. Further, rising global demand for diagnostic kits to rapidly detect the disease in this period created lucrative market growth opportunities. Moreover, increasing prevalence of other respiratory illnesses across the globe and improved access to point-of-care devices through online platforms further pushed the growth rate of the market.  

Recent Developments

  • In February 2022, Sense Biodetection entered into a strategic agreement with Una Health (Una) for the United Kingdom distribution of the Veros Covid-19 test.
  • In December 2021, FIND invested USD 21 million in Biomeme, Bioneer, Qlife, and SD Biosensor to accelerate the development, manufacturing, and launch of affordable point-of-care molecular diagnostic platforms that can detect multiple pathogens that cause diseases including COVID-19. 

Global Point of Care Molecular Diagnostics Market Scope

The point of care molecular diagnostics market is segmented on the basis of product and services, technology, test location, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product and services

  • Assays and Kits
  • Instruments/Analyzers
  • Software and Services

Based on product & services, point of care molecular diagnostics market is segmented into assays and kits, instruments/analyzers, software and services.

Technology

  • Polymerase Chain Reaction-Based
  • Genetic Sequencing-Based
  • Hybridization-Based
  • Microarray-Based
  • Isothermal Nucleic Acid Amplification Technology (INAAT)
  • Others

Point of care molecular diagnostics market has also been segmented based on the technology into PCR-based, genetic sequencing-based, hybridization-based, microarray-based, isothermal nucleic acid amplification technology (INAAT) and others.

Test location

  • Over The Counter
  • Point of Care

Based on test location, point of care molecular diagnostics market is segmented into over the counter and point of care.

Application

  • Respiratory Diseases
  • Sexually Transmitted Diseases
  • Hospital-Acquired Infections
  • Oncology
  • Hepatitis
  • Hematology
  • Prenatal Testing
  • Endocrinology
  • Others

Based on application, point of care molecular diagnostics market is segmented into respiratory diseases, sexually transmitted diseases, hospital-acquired infections, oncology, hepatitis, hematology, prenatal testing, endocrinology and others.

End user

  • Physician Offices
  • Hospital Emergency Departments and Intensive Care Units
  • Research Institutes
  • Home-Care
  • Decentralized Labs
  • Assisted Living Healthcare Facilities
  • Others

Based on end-user, point of care molecular diagnostics market is segmented into physician offices, hospital emergency departments and intensive care units, research institutes, home-care, decentralized labs, assisted living healthcare facilities and others.

Point of Care Molecular Diagnostics Market Regional Analysis/Insights

The point of care molecular diagnostics market is analysed and market size insights and trends are provided by country, product and services, technology, test location, application and end user as referenced above.

The countries covered in the point of care molecular diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the point of care molecular diagnostics market because of the strong base of healthcare facilities, increased adoption of advanced point of care molecular diagnostics solutions to detect infections diseases and rising number of research activities in this region.  

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, availability of the well-established infrastructure, improving rate of adoption of point of care molecular diagnostics in India and China and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The point of care molecular diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for point of care molecular diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the point of care molecular diagnostics market. The data is available for historic period 2010-2020.

Competitive Landscape and Point of Care Molecular Diagnostics Market Share Analysis

The point of care molecular diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to point of care molecular diagnostics market.

Some of the major players operating in the point of care molecular diagnostics market are:

  • Abbott (US)
  • Siemens Healthineers AG (Germany)
  • Quidel Corporation (US)
  • F. Hoffman-La Roche Ltd. (Switzerland)
  • Danaher. (US)
  • BD (US)
  • Chembio Diagnostics (US)
  • EKF Diagnostics (UK)
  • Trinity Biotech plc (Ireland)
  • Instrumentation Laboratory (US)
  • Nova Biomedical (US)
  • PTS Diagnostics (US)
  • Sekisui Diagnostics (US)
  • Thermo Fisher Scientific (US)
  • bioMérieux S.A. (France)
  • DiaSorin S.p.A (Italy)
  • AccuBioTech Co., Ltd. (China)
  • Meridian Bioscience (US)
  • Biocartis Bioscience (Europe)
  • GeneSTAT Molecular Diagnostics, LLC (US)
  • Terumo Corporation (Japan)
  • Grifols, S.A (Spain)

Research Methodology : Global Point of Care Molecular Diagnostics Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-point-of-care-molecular-diagnostics-market


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Point of Care Molecular Diagnostics Market will be projected at USD 8,330.753 million during the forecast period of 2022 to 2029.
The Point of Care Molecular Diagnostics Market is Projected to Grow at a CAGR of 13.40% During the Forecast Period of 2022 to 2029.
Abbott (US), Siemens Healthineers AG (Germany), Quidel Corporation (US), F. Hoffman-La Roche Ltd. (Switzerland), Danaher. (US), BD (US), Chembio Diagnostics (US), EKF Diagnostics (UK), Trinity Biotech plc (Ireland), Instrumentation Laboratory (US), Nova Biomedical (US), PTS Diagnostics (US), Sekisui Diagnostics (US), Thermo Fisher Scientific (US), bioMérieux S.A. (France), DiaSorin S.p.A (Italy), AccuBioTech Co., Ltd. (China), Meridian Bioscience (US), Biocartis Bioscience (Europe), GeneSTAT Molecular Diagnostics, LLC (US), Terumo Corporation (Japan) and Grifols, S.A (Spain) are the Major Companies Operating in Point of Care Molecular Diagnostics Market.
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America are Covered in the Point of Care Molecular Diagnostics Market.
The Point of Care Molecular Diagnostics Market Report Curated by the Data Bridge Market Research Team Includes In-Depth Expert Analysis, Patient Epidemiology, Pipeline Analysis, Pricing Analysis, and Regulatory Framework.
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