Global POC Molecular Diagnostics Market is segmented By Technology (Nucleic Acid Amplification Technologies, Hybridization Technologies, Sequencing Technologies, Others) By Application (Infectious Disease Testing, Oncology, Genetic Testing, Blood Screening, Others) By End-User (Hospitals and Clinics, Diagnostic Laboratories, Home Care Settings, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Size
The Global POC molecular diagnostics market reached US$ 2.68 billion in 2023 and is expected to reach US$ 4.17 billion by 2031, growing at a CAGR of 6.9% during the forecast period 2024-2031.
Molecular diagnostics is a branch of medical diagnostics that involves analyzing biological markers in the genome and proteome. This field has seen significant advancements in recent years, particularly in the development of point-of-care (POC) molecular diagnostics. POC molecular diagnostics refer to diagnostic tests that can be performed rapidly and conveniently at or near the patient's location, without the need for specialized laboratory equipment or highly trained personnel.
These tests often rely on technologies such as polymerase chain reaction (PCR), nucleic acid amplification techniques, and isothermal amplification methods. Several companies and research institutions are actively developing and commercializing POC molecular diagnostic devices, with the aim of making healthcare more accessible and efficient.
Market Scope
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Metrics |
Details |
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CAGR |
6.9% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Technology, Application, End-User |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Largest Growing Region |
North America |
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Fastest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics: Drivers and Restraints
Growing prevalence of infectious diseases
Infectious diseases pose a significant public health threat worldwide. Quick and accurate diagnosis is essential for effective disease management, outbreak control, and preventing further transmission. POC molecular diagnostics offer rapid detection of pathogens directly at the point of care, enabling timely treatment and containment measures.
Many infectious diseases, such as influenza, tuberculosis, HIV/AIDS, and hepatitis, are more effectively managed when detected early. With the increasing prevalence of infectious diseases globally, there is a higher demand for rapid and accurate diagnostic methods. POC molecular diagnostics offer quick and efficient detection of pathogens, enabling timely treatment and control of diseases.
For instance, in serious cases, the flu can lead to health complications such as pneumonia, strokes, and heart attacks, which can be deadly. In total, researchers estimate that the flu causes 400,000 respiratory deaths and 300,000 cardiovascular deaths each year. The flu is most severe in infants and the elderly. Among those over 65, the flu kills around 31 people per 100,000 each year from respiratory disease in Europe. Thus above factors helps to boost the market growth.
Market Dynamics: Restraint
Limited accessibility in resource & limited settings
POC molecular diagnostics require specialized equipment and trained personnel for operation and interpretation of results. In regions with limited healthcare infrastructure and human resources, access to these technologies may be restricted, preventing their widespread implementation. For instance, remote rural areas or low-income countries may lack the necessary laboratory facilities and skilled personnel to support POC molecular testing.
Additionally, performing POC molecular diagnostic tests requires skilled personnel who are trained in sample collection, test operation, result interpretation, and quality control procedures. However, in resource-limited settings, there is often a shortage of healthcare workers with the necessary training and expertise. This lack of human resources limits the scalability and sustainability of POC molecular testing programs.
Market Segment Analysis
The global POC molecular diagnostics market is segmented based on technology, application, end-user and region.
The sequencing technologies from the technology segment accounted for approximately 39.18% of share
The rise of sequencing technologies has been a significant driver of growth within the molecular diagnostics market. Next-generation sequencing has revolutionized molecular diagnostics by enabling rapid and comprehensive analysis of nucleic acid sequences. This technology allows for the simultaneous sequencing of millions of DNA fragments, providing insights into genetic variations, infectious agents, and disease biomarkers. For instance, NGS platforms like Illumina's MiSeq and Thermo Fisher Scientific's Ion Torrent have been widely adopted for applications such as cancer genomics, infectious disease surveillance, and pharmacogenomics.
Moreover, long-read sequencing technologies, such as Pacific Biosciences' (PacBio) single-molecule real-time (SMRT) sequencing and Oxford Nanopore's nanopore sequencing, offer advantages over traditional short-read sequencing methods. These technologies can generate longer DNA or RNA reads, allowing for more accurate assembly of complex genomes, detection of structural variants, and characterization of RNA transcripts.
Market Geographical Analysis
North America accounted for approximately 42.04% of the market share in 2023
There is a growing demand for personalized medicine in North America, driven by factors such as the prevalence of chronic diseases, advancements in genomic research, and increasing patient awareness. Molecular diagnostics play a crucial role in personalized medicine by enabling the identification of genetic markers, guiding treatment decisions, and monitoring patient responses to therapy.
For instance, the CDC estimates that six in ten adults in the United States currently live with a chronic disease such as cancer, heart disease, or diabetes. Chronic diseases are among the leading causes of death in the United States with heart disease and cancer alone accounting for around 38 percent of all deaths.
Additionally, regulatory agencies in North America, such as the Food and Drug Administration (FDA) in the United States and Health Canada, provide clear pathways for the approval and commercialization of molecular diagnostics tests. A transparent and well-defined regulatory framework encourages investment in research and development and facilitates market entry for diagnostic companies, driving growth in the region.
Market COVID-19 Impact Analysis
The need for rapid and accurate testing became paramount in controlling the spread of COVID-19. POC molecular diagnostics, such as nucleic acid amplification tests (NAATs), offered the advantage of providing sensitive and specific results within minutes to hours, allowing for prompt identification of infected individuals and timely implementation of isolation and contact tracing measures.
The unprecedented demand for COVID-19 testing prompted healthcare systems to rapidly expand their testing capacity, including the deployment of POC molecular diagnostic platforms. These platforms, which can be used in various settings such as hospitals, clinics, and community centers, helped alleviate the burden on centralized laboratories and facilitated testing access for populations in remote or underserved areas.
Market Competitive Landscape
The major global players in the market include Roche Diagnostics, Abbott Laboratories, QIAGEN, Danaher Corporation, Thermo Fisher Scientific, Hologic, Inc., GenMark Diagnostics, Luminex Corporation, Seegene Inc, Bio-Rad Laboratories among others.
Why Purchase the Report?
- To visualize the global POC molecular diagnostics market segmentation based on technology, application, end-user and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of POC molecular diagnostics market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global POC molecular diagnostics market report would provide approximately 69 tables, 58 figures and 187 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
